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.
Key Takeaways:
Boston Fed President Susan Collins says it’s likely appropriate to keep interest rates steady for a longer time, citing growing economic uncertainty.
Speaking at a Thursday event hosted by 100 Women in Finance and others, Collins noted that tariffs from the White House may temporarily boost inflation, though the timing of when price pressures ease remains unclear.
She also flagged a potential slowdown in business activity, with firms appearing to adopt a "wait-and-see" approach amid policy shifts and market jitters.
Despite recent weak sentiment surveys, Collins emphasized that fundamental strengths in the economy remain intact, warning against letting negative narratives drive a self-fulfilling slowdown.
Why It Matters:
Collins’ comments support the Fed’s patient stance on rate cuts, reinforcing the narrative that policymakers won’t rush to ease despite soft patches in data. Her remarks come just ahead of Friday’s PCE inflation report, a key data point the Fed watches closely.
Investors should brace for a prolonged high-rate environment, especially if inflation proves more persistent due to external shocks like tariffs.
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