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Wednesday, February 17, 2016

Market Daily Report: FBM KLCI goes up as oil gain

FBM KLCI goes up by 0.9%, following the Asian region trend. This came as the market sentiment improved, due to oil gain. At 5pm, the KLCI closed at 1,664.99 points. Gains in counters such as SapuraKencana Petroleum Bhd and UMW Holdings Bhd supported the index's advance.

FBM KLCI increased by 0.9%

Brent crude surged above US$35 a barrel as energy ministers from Saudi Arabia and Russia, two of the world's biggest oil producers, met in Doha on Tuesday to discuss the market.

Bursa Malaysia saw 1.8 billion shares worth RM1.77 billion traded. Gainers outnumbered decliners at 551 against 303.

Hubline Bhd was the most-actively traded stock. The leading gainer was Genting Bhd.

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British American Tobacco (M) Bhd and Petronas Gas Bhd were among the biggest decliners. 

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Asian stock indices rose. In China, the Shanghai Composite gained 3.29%, while Hong Kong's Hang Seng climbed 1.08%.

Japan's Nikkei 225 rose 0.2% while South Korea's Kospi was up 1.4%.

Asian shares extended gains today as a combination of stabilising Chinese markets, rebounding oil prices and solid US consumption data prompted investors to look for bargains after last week's rout.

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