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 (Sept 26): The FBM KLCI fell 3.55 points or 0.2% after North Korea's statement saying US President Donald Trump has declared war on North Korea, rattled global markets.
Reuters reported North Korean Foreign Minister Ri Yong Ho as saying Trump's Twitter comments, in which the U.S. leader said Ri and leader Kim Jong Un "won't be around much longer" if they acted on their threats, amounted to a declaration of war and that Pyongyang had the right to take countermeasures.
It was reported that the White House disputed the declaration, calling the suggestion "absurd".
In Malaysia, the KLCI closed at 1,765.59 points, after falling to its intraday low at 1,761.21 points.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com that the US-North Korea "geopolitical tension" had affected market sentiment.
“(In Malaysia), there is selling pressure on renewed foreign fund outflow," Leong said.
Across Bursa Malaysia, 3.7 billion shares valued at RM2.74 billion exchanged hands. Decliners outpaced gainers at 528 against 282 respectively.
North Korea's statement rattled world share markets. Japan's Nikkei 225 declined 0.33%, while South Korea's Kospi was 0.26% lower.
Asian equities had tracked overnight US stock losses today. The Dow Jones Industrial Average fell 0.24%, S&P 500 declined 0.22%, while Nasdaq was down 0.88%.
Source: The Edge
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