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 (Oct 27): The FBM KLCI gained 9.33 points or 0.5% on index-linked Tenaga Nasional Bhd's share price rise and as investors reacted positively to Prime Minister Datuk Seri Najib Tun Razak's Budget 2018 speech.
At 5pm, the KLCI closed at 1,746.13 points, after rising to its intraday high at 1,751.50 points. Bursa Malaysia top gainer Tenaga added 62 sen to close at RM14.96, on the state-controlled utility's latest dividend and after the company announced a new dividend policy.
Across Bursa Malaysia, 2.76 billion shares, worth RM2.66 billion were traded. There were 476 gainers versus 310 decliners.
Yesterday, Tenaga proposed a dividend of 44 sen a share for its fourth quarter ended Aug 31, 2017 (4QFY17). The quarterly dividend brings full-year dividends to 61 sen.
Tenaga also said "with effect from the financial year ended 31 August 2017, TNB (Tenaga) will adopt a new dividend policy for the company. TNB intends to distribute dividends based on 30% to 60% dividend payout ratio, based on the reported consolidated net profit attributable to shareholders after minority interest, excluding extraordinary, non-recurring items."
Today, analysts said Najib's Budget 2018 speech, which began at 3:30pm, augured well for the stock market.
“The oversold KLCI, coupled with the optimistic budget speech by PM Najib, boosted the key index to close higher,” Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com.
Source: The Edge

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