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 (July 31): The FBM KLCI fell 7.05 points or 0.4% mainly on last-minute selling of index-linked Public Bank Bhd shares and after Lotte Chemical Titan Holding Bhd announced a year-on-year drop in its second quarter net profit.
Public Bank shares fell on news founder and chairman Tan Sri Dr Teh Hong Piow "wishes to relinquish his position as chairman" on Jan 1, 2019. Public Bank said this in a statement to Bursa Malaysia today.
Lotte Chemical Titan shares declined after the company said net profit dropped to RM113.62 million in the second quarter ended June 30, 2017 (2QFY17)from RM404.03 million.
At 5pm today, the KLCI closed at 1,760.03 points while Public Bank shares fell 26 sen to RM20.28. Lotte Chemical Titan dropped RM1.43 to RM4.70.
Lotte Chemical Titan and Public Bank were the top and third-largest decliners across Bursa Malaysia respectively. Lotte Chemical Titan was also the seventh most-active stock.
Inter-Pacific Research Sdn Bhd research head Pong Teng Siew said Lotte Chemical Titan's 2QFY17 financial results had dampened broader market sentiment.
"Lotte accounted for the steep drop in the KCLI’s performance after the midday break, shortly after Lotte announced its financial results,” Pong told theedgemarkets.
Across Bursa Malaysia, 1.94 billion shares valued at RM2.58 billion were traded.
There were 300 gainers and 534 decliners.
Source: The Edge

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