KUALA LUMPUR, March 10 (Bernama) -- Bursa Malaysia rebounded to end higher today with the benchmark FBM KLCI reclaiming the 1,700 psychological level, supported by improved global sentiment after US President Donald Trump signalled a potential de-escalation of the Iran conflict, alongside Malaysia’s stronger Industrial Production Index (IPI) data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 27.51 points, or 1.64 per cent, to 1,701.68 from yesterday’s close of 1,674.17. The benchmark index opened 10.68 points higher at 1,684.85, its lowest point today, and hit a high of 1,703.61 in the late afternoon session. Market breadth was positive, with gainers thumping losers 929 to 382. A total of 361 counters were unchanged, 982 untraded and 19 suspended. Turnover declined to 3.60 billion units worth RM3.75 billion from yesterday’s 5.52 billion units worth RM5.87 billion.
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| FBM KLCI fell 13.11 points |
US crude futures were trading at US$31.25 per barrel at 0758 GMT, down 1.95% from their last settlement. International Brent futures were down around 1% at US$32.90 a barrel. Both dropped more than 5% in intra-day trading the previous day.
The consequence of the fall in oil prices are obvious given what we have seen in the past few months...the market fall as well.
FBM KLCI dropped by 0.8% or 13.11 points to close at 1,664.17.
Across Asia, Japan's Nikkei 225 lost 0.85% while Hong Kong's Hang Seng shed 1.15%.
Bursa Malaysia saw 1.53 billion shares valued at RM1.51 billion traded. Decliners beat gainers at 601 versus 229.
The top gainers included Kuala Lumpur Kepong Bhd and PPB Group Bhd.
The leading decliner was Dutch Lady Milk Industries Bhd.
The most-active stocks included APFT Bhd and KNM Group Bhd.
Among decliners, Kossan Rubber Industries Bhd fell to an intraday low of RM6.69 before closing unchanged at RM6.75.
Today, the ringgit weakened to 4.224 against the US dollar, tracking lower crude oil prices.
The ringgit tracks prices of crude oil as the commodity forms a crucial portion of the Malaysian economy and government revenue.

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