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.
KUALA LUMPUR (May 16): The FBM KLCI fell 0.5 point to 1,778.15 points after the index cut losses in the final trading minutes on late buying of Petronas Dagangan Bhd shares.
The KLCI had earlier fallen partly on IHH Healthcare Bhd share losses. At 5pm, Petronas Dagangan rose 34 sen to RM24.40 while IHH fell 25 sen to RM5.92.
Petronas Dagangan was the fourth-largest gainer across Bursa Malaysia while IHH was the fifth-largest decliner.
Bursa Malaysia decliners outpaced gainers at 497 versus 412 respectively. The bourse saw 3.52 billion shares worth RM3.84 billion change hands.
Iskandar Waterfront City Bhd (IWCity) was the most-actively traded with 272.02 million shares transacted. The stock closed 15 sen lower at RM1.98. As Bandar Malaysia-linked stocks like IWCity and Ekovest Bhd hogged the spotlight, analysts, however, said the Malaysian stock market still lacked major catalysts.
Mercury Securities Sdn Bhd head of research Edmund Tham told theedgemarkets.com that economic data such as the Malaysia's first quarter gross domestic product (GDP) numbers might offer investors
notable clues on the stock market's direction.
“There is not any huge catalyst in the stock market. Investors are also waiting for economic data to have a clearer direction, such as the first quarter GDP,” Tham said.
Bank Negara Malaysia will release the first quarter GDP numbers this Friday (May 19). For tomorrow (May 17), the Statistics Department will announce the country's inflation numbers.
Source: The Edge
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