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 (March 30): The FBM KLCI closed up 7.11 points or 0.4% on what appeared to be institutional investors' window-dressing activities at the end of 2018’s first quarter.
At 5pm today, the KLCI closed at 1,863.46. Across Bursa Malaysia, 1.82 billion shares were traded for RM1.9 billion.
“Most government-linked companies seem to be the ones being traded higher, which could be due to window dressing,” Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com.
He said sentiment across Bursa Malaysia seemed subdued as the total volume of shares traded remained below the two billion mark. Yesterday's share trade volume was about 1.88 billion shares.
Today, Bursa Malaysia top gainers included KLCI-linked stocks Nestle (M) Bhd and Petronas Dagangan Bhd. The most-actively traded stocks included Sapura Energy Bhd, PUC Bhd and SKH Consortium Bhd.
Across Asia, Japan's Nikkei 225 rose 1.4% while South Korea's Kospi climbed 0.39%. Hong Kong markets were closed for the Good Friday holiday today (March 30) and will remain closed on Monday (April 2) for the Easter Monday break.
In Japan today, stocks finished a weak first quarter on a positive note, with index heavyweight stocks rising and technology firms jumping in sympathy with a rebound in their US counterparts, Reuters reported.
Reuters added that Wall Street surged on Thursday, bringing an upbeat end to a tumultuous, holiday-shortened week as technology stocks rebounded, but the S&P 500 and the Dow Jones Industrial Average posted their biggest quarterly declines in more than two years. US markets will be closed on Friday (March 30) for Good Friday.
Source: The Edge
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