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 (Feb 17): Bursa Malaysia ended marginally higher on Thursday (Feb 17) after a roller coaster session during the final hour of trading as plantation heavyweights continued to push the key index, coupled with better regional market performances, a dealer said.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.82 points to 1,605.02 compared with 1,603.2 at Wednesday's close.
The index, which opened 6.72 points higher at 1,609.92, moved between 1,601.94 and 1,614.82 throughout the session.
The overall market breadth was positive with gainers surpassing losers 515 to 423, while 457 counters were unchanged, 843 untraded and 11 others suspended.
Total turnover improved to 3.91 billion units worth RM3.34 billion from 3.38 billion units worth RM2.86 billion on Wednesday.
Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the local bourse continued its uptrend and is approaching the 1,620 resistance level.
"We expect the index to go higher as buying from foreign funds is expected to resume although a mild correction is anticipated anytime soon.
"Hence, we reckon the FBM KLCI will trend range-bound and hover within the 1,605-1,615 range towards the weekend," he said.
Regionally, key markets ended mostly higher despite mixed performance from Wall Street overnight.
Singapore’s Straits Times Index rose 0.2% to 3,446.03, Hong Kong's Hang Seng Index increased 0.3% to 24,792.77, while Japan's Nikkei 225 eased 0.83% to 27,232.87.
Bursa heavyweights Sime Darby Plantation Bhd advanced 27 sen to RM4.91, Kuala Lumpur Kepong Bhd improved RM1 to RM26.60, Telekom Malaysia Bhd gained seven sen to RM5.55, PPB Group Bhd advanced 20 sen to RM17.24, while Malayan Banking Bhd fell one sen to RM8.68.
As for the actives, Vortex Consolidated Bhd rose one sen to eight sen, SMTrack Bhd gained 1.5 sen to 24 sen, while Dagang NeXchange Bhd lost one sen to RM1.26.
On the index board, FBM ACE improved 60.57 points to 6,336.63, FBM 70 put on 57.22 points to 13,814.59, FBM Emas Index bagged 26.71 points to 11,468.65, FBMT 100 Index advanced 20.04 points to 11,148.24, and FBM Emas Shariah Index rose 37.92 points to 12,208.02.
Sector-wise, the Financial Services Index dropped 31.76 points to 16,465.62, the Industrial Products and Services Index was 1.02 points lower at 211.78, while the Plantation Index climbed 295.23 points to 7,967.27.
The Main Market volume widened to 2.47 billion shares worth RM2.96 billion from 2.22 billion shares worth RM2.56 billion on Wednesday.
Warrants turnover dwindled to 362.77 million units worth RM48.26 million against 403.48 million units worth RM49.87 million previously.
The ACE Market volume improved to 1.08 billion shares valued at RM331.42 million versus 745.02 million shares valued at RM250.63 million on Wednesday.
Consumer products and services counters accounted for 412.2 million shares traded on the Main Market, industrial products and services (558.36 million), construction (118.13 million), technology (440 million), SPAC (nil), financial services (78.38 million), property (155.56 million), plantation (211.09 million), REITs (8.32 million), closed/fund (63,700), energy (284.25 million), healthcare (49.09 million), telecommunications and media (64.93 million), transportation and logistics (63.68 million), and utilities (24.94 million).
Source: The Edge
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