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.
The market is responding to the seemingly stable and higher crude oil prices. Regionally across Asian, the market has been on the uptrend, except for South Korea.
According to Reuters, Japan's Nikkei 225 closed up 0.32%, while Hong Kong's Hang Seng added 1.18%.
As for the Bursa Malaysia, the FBM KLCI rose higher by 4.29 points to close at 1,692.49 points, unable to break the 1,700 level.
At Bursa Malaysia, the bourse saw 1.78 billion shares, worth RM2.16 billion, traded.
Decliners led gainers by 463 to 334.
Although the KLCI rose, the FBM Small Cap Index fell 17.77 points or 0.12% to 15,249.690, on profit taking.
Bursa's top gainers included banking stocks like Public Bank Bhd, CIMB Group Holdings
Bhd, Hong Leong Financial Group Bhd and AMMB Holdings Bhd.
Top decliners included British American Tobacco (M) Bhd, Petronas Dagangan Bhd and Kuala Lumpur Kepong Bhd.
Meanwhile, the most active counters included AirAsia X Bhd and AirAsia Bhd. Both the AirAsia companies have been on an active trade after a rather impressive quarter report.
According to Reuters, Japan's Nikkei 225 closed up 0.32%, while Hong Kong's Hang Seng added 1.18%.
As for the Bursa Malaysia, the FBM KLCI rose higher by 4.29 points to close at 1,692.49 points, unable to break the 1,700 level.
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| FBM KLCI |
At Bursa Malaysia, the bourse saw 1.78 billion shares, worth RM2.16 billion, traded.
Decliners led gainers by 463 to 334.
Although the KLCI rose, the FBM Small Cap Index fell 17.77 points or 0.12% to 15,249.690, on profit taking.
Bursa's top gainers included banking stocks like Public Bank Bhd, CIMB Group Holdings
Bhd, Hong Leong Financial Group Bhd and AMMB Holdings Bhd.
Top decliners included British American Tobacco (M) Bhd, Petronas Dagangan Bhd and Kuala Lumpur Kepong Bhd.
Meanwhile, the most active counters included AirAsia X Bhd and AirAsia Bhd. Both the AirAsia companies have been on an active trade after a rather impressive quarter report.
Reuters reported Asian shares looked set on Friday to post their strongest week in five months, as global investors returned to riskier assets, after a string of positive U.S. economic data and a bounce in oil and commodity prices.
The rebound could continue if the February U.S. employment report later in the session shows job gains but remains weak enough to discourage Federal Reserve rate increases in the near term.
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