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 (April 30): The FBM KLCI gained 4.89 points or 0.3% to close at 1,642.29, partially lifted by gains in banking stocks including Hong Leong Financial Group Bhd (HLFG) and Malayan Banking Bhd (Maybank).
HLFG closed 18 sen up at RM19.22 while Maybank gained 11 sen to RM9.25. HLFG and Maybank ended among Bursa Malaysia top gainers.
“Some of the banking stocks rebounded, such as Maybank and HLFG which are constituent stocks. Especially Maybank, which is a heavyweight,” Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said.
Across Bursa Malaysia, 2.36 billion shares were traded for RM2.24 billion.
Leading gainers included Carlsberg Brewery Malaysia Bhd and KLCI stock Digi.Com Bhd.
Globally, the KLCI bucked Asia shares' decline today as investors evaluated China's April manufacturing and non-manufacturing purchasing managers index (PMI) numbers. Bloomberg reported that the manufacturing PMI stood at 50.1, down from 50.5 last month, while the non-manufacturing PMI — a gauge of services and construction — stood at 54.3 versus 54.8.
In China, Hong Kong’s Hang Seng closed down 0.65% while the Shanghai Stock Exchange Composite erased intraday losses to end 0.52% higher. Elsewhere, South Korea’s Kospi declined 0.58%.
Reuters reported that shares in Asia fell on Tuesday as readings on China's manufacturing activity failed to meet expectations, underscoring weakness in the world's second-largest economy despite Beijing's attempts to spur growth.
It was reported that MSCI's broadest gauge of Asia-Pacific shares outside Japan was off 0.5 percent. It was reported that Japan's financial markets remain closed for a national holiday as Japanese Emperor Akihito prepares to abdicate on Tuesday in favour of his son, Crown Prince Naruhito.
Source: The Edge
Globally, the KLCI bucked Asia shares' decline today as investors evaluated China's April manufacturing and non-manufacturing purchasing managers index (PMI) numbers. Bloomberg reported that the manufacturing PMI stood at 50.1, down from 50.5 last month, while the non-manufacturing PMI — a gauge of services and construction — stood at 54.3 versus 54.8.
In China, Hong Kong’s Hang Seng closed down 0.65% while the Shanghai Stock Exchange Composite erased intraday losses to end 0.52% higher. Elsewhere, South Korea’s Kospi declined 0.58%.
Reuters reported that shares in Asia fell on Tuesday as readings on China's manufacturing activity failed to meet expectations, underscoring weakness in the world's second-largest economy despite Beijing's attempts to spur growth.
It was reported that MSCI's broadest gauge of Asia-Pacific shares outside Japan was off 0.5 percent. It was reported that Japan's financial markets remain closed for a national holiday as Japanese Emperor Akihito prepares to abdicate on Tuesday in favour of his son, Crown Prince Naruhito.
Source: The Edge
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