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.
Asia is entering its busiest week for earnings, with Chinese and Hong Kong-listed banks in the spotlight as investors look for signs of the potential impact from Beijing's stimulus measures.
A total of 544 firms from the MSCI Asia Pacific Index will report their earnings this week, including major players like the Industrial and Commercial Bank of China Ltd, according to Bloomberg data.
Investors will pay close attention to Chinese lenders' results, looking for any indications of increased credit demand, which could signal a recovery in consumer confidence. Chinese banks have faced challenges from slowing profit growth and narrowing interest margins, making their outlook critical for understanding the broader economic recovery.
In Hong Kong, HSBC Holdings Plc will also be closely watched after its recent corporate structure revamp, which has attracted investor interest.
This week’s earnings results are expected to provide key insights into the region’s economic health and the effectiveness of China's recent policy moves to stimulate growth.
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