KUALA LUMPUR, March 5 (Bernama) -- Bursa Malaysia ended higher today in line with regional equities as bargain hunting emerged after the benchmark index briefly slipped below the psychological 1,700 level in recent trading sessions. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 14.98 points, or 0.88 per cent, to close at an intraday high of 1,713.20 from Wednesday’s close of 1,698.22, The benchmark index opened 8.03 points higher at 1,706.25 and slipped to an intraday low of 1,701.83 in early trade. Gainers beat losers by 572 to 511, while 523 counters were unchanged, 1,016 untraded, and 11 suspended. Turnover declined to 2.85 billion units worth RM3.26 billion from Wednesday’s 3.51 billion units worth RM3.79 billion.
Asian equities staged a sharp recovery on Thursday, led by a dramatic rebound in South Korea, as easing war fears and a Wall Street rally helped restore risk appetite.
Kospi Leads Regional Surge
KOSPI Index surged 10.4%, clawing back much of the prior session’s steep losses.
Regional performance:
MSCI Asia Pacific Index (ex-Japan) +2.9%
Nikkei 225 +2.9%
CSI 300 Index +1%
Shanghai Composite +0.4%
The rally followed gains on Wall Street amid speculation that the US and Iran may seek a diplomatic off-ramp.
Key Point: Heavy short covering and renewed risk appetite powered a sharp rebound in Asia.
Treasuries Fall as Risk Appetite Improves
The yield on US 10-year Treasuries rose 2.7 basis points to 4.109%, while 30-year yields climbed to 4.7479%, signalling reduced demand for safe-haven bonds.
Although tensions escalated — including a US submarine sinking an Iranian warship and further missile exchanges — markets took some comfort from:
President Donald Trump pledging protection for oil shippers
Reports suggesting back-channel communication between Iran and the US
However, geopolitical risks remain elevated, and US lawmakers signalled continued military backing.
Oil and Gold Remain Elevated
Brent crude rose 2.49% to US$83.43 per barrel.
US crude gained 3% to US$76.91.
Spot gold climbed 0.84% to US$5,178.42 per ounce.
Energy supply disruptions remain a core concern, with infrastructure reportedly damaged and further outages possible.
Key Point: Even as equities rebound, energy markets reflect ongoing supply risks.
China Sets Lower Growth Target
China announced a 2026 growth target of 4.5%–5%, slightly below last year’s 5% expansion.
Beijing also unveiled its 15th Five-Year Plan, pledging:
Investment in innovation and high-tech industries
Stronger support for household consumption
Efforts to reduce industrial overcapacity
Currency and Crypto Moves
Dollar index flat at 98.81
Japanese yen strengthened 0.2% to 156.75 per dollar
Bitcoin -0.78%
Ether -0.94%
The pause in dollar gains reflects stabilising risk sentiment.
Outlook
Markets remain highly sensitive to headlines.
While hopes of diplomatic progress have supported equities, oil prices and bond yields indicate that geopolitical risks are far from resolved.
Overall theme: Risk appetite returned to Asia as short covering and Wall Street gains lifted equities, but elevated oil prices underscore persistent war-driven uncertainty.
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