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 (Jan 23): The FBM KLCI gained 4.89 points or 0.3% as Asian shares rose to record closing highs after US policy makers reached a deal to end the government shutdown.
At Bursa Malaysia, the KLCI closed at its intraday high of 1,838.04 points. AmInvestment Bank Bhd research analyst Lim Sae Wai told theedgemarkets.com that "market sentiment is still bullish-biased."
Across Asia, Japan's Nikkei 225 rose 1.29% while Hong Kong's Hang Seng climbed 1.66%. Reuters reported that Asian stocks advanced on Tuesday after US senators struck a deal to end a government shutdown in a boost to Wall Street, while the dollar turned higher against the yen after Bank Of Japan's chief reiterated his support for quantitative easing.
It was reported that Japan's Nikkei share average on Tuesday ended at its highest in more than 26 years, with real estate and precision machinery stocks leading the gains. Hong Kong stocks hit another fresh record on Tuesday, aided by continuous inflows of mainland money, and strength in IT and financial stocks.
Across Bursa Malaysia, trading volume was 3.91 billion shares worth RM3.02 billion. Top gainer was British American Tobacco (M) Bhd (BAT) followed by Top Glove Corp Bhd.
BAT rose 78 sen to RM32.78 while Top Glove added 64 sen to RM9.79.
Source: The Edge

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