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.
At 5pm, the KLCI closed at 1,768.16 points. Hong Leong Bank shares rose 56 sen to RM16.30 to become Bursa Malaysia's top gainer.
Bursa Malaysia gainers outnumbered decliners at 420 against 361 respectively. A total of 1.49 billion shares valued at RM1.69 billion were traded.
Malaysian shares rose today as Asian markets remained cautious after North Korea fired a missile that landed in Japanese waters yesterday.
In Malaysia today, TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com that "there are still concerns across Asian markets over North Korea’s missile testing."
Reuters reported that Asian share markets inched back into the black on Wednesday as investors wagered the latest flare-up of tensions on the Korean peninsula would fade away like so many others.
MSCI's broadest index of Asia-Pacific shares outside Japan regained 0.3 percent, half the losses suffered Tuesday when North Korea fired the missile.
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