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 (Dec 29): The FBM KLCI gained 17.71 points or 1% after an 11th-hour share price spike in index-linked KLCCP Stapled Group and Sime Darby Plantation Bhd pushed the 30-stock KLCI higher.
At 5pm, the KLCI closed at its intraday high at 1,796.81 points for a year-to-date gain of 9.45%. Today is the final trading day for Malaysian markets in 2017 as investors look ahead to 2018 next week.
Today, KLCCP added 83 sen to RM8.64 while Sime Darby Plantation rose 52 sen to RM6. KLCCP and Sime Darby Plantation were Bursa Malaysia's fourth and sixth largest gainers respectively.
It is worth noting that property companies SP Setia Bhd and
Capitaland Malaysia Mall Trust (CMMT) were also major gainers.
SP Setia was the fifth largest gainer after its share price increased 64 sen to RM4. CMMT gained 41 sen to RM1.83 to become the eighth largest advancer.
Across Bursa Malaysia, trading volume was 3.14 billion shares worth RM2.77 billion.
Kenanga Investment Bank Bhd head of research Chan Ken Yew told theedgemarkets.com that the KLCI's increase can be attributed to "window dressing activities."
"Fundamentally, our (Malaysia) economic indicators are good as well," Chan said.
Next week, Malaysian markets will be closed on Monday (January 1, 2018) for the New Year's Day holiday. Trading resumes on Tuesday.
Source: The Edge

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