KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Oil price's plunge might seem like forever especially for those living in Malaysia. It's as bad as it could go but if there's any positive that is required, one just had to look at Warren Buffet.
When most people turn away from oil, Warren Buffett goes in.
Warren Buffett is expanding his bet on the oil industry, slowly adding to his already large stake in oil refiner Phillips 66 even as crude oil prices have sunk to a 12-year low.
From Jan. 4 to Jan. 11, Berkshire Hathaway Inc, which Buffett has run since 1965, paid about US$390 million for an additional 5.1 million shares of Phillips 66, according to filings with the U.S. Securities and Exchange Commission.
The purchases boosted Berkshire's investment in Phillips 66 to 65.68 million shares, or about 12.3 percent of those outstanding, worth $5.21 billion as of Thursday's market close.
Phillips 66 shares closed up $4.03, or 5.4 percent, at $79.28 on the New York Stock Exchange.
As there can be a lag of several days between purchases and SEC filings, we may find out soon that Berkshire continued to buy at the lower levels.
When most people turn away from oil, Warren Buffett goes in.
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| The stock pick king is going in on oil. Has it bottom? |
Warren Buffett is expanding his bet on the oil industry, slowly adding to his already large stake in oil refiner Phillips 66 even as crude oil prices have sunk to a 12-year low.
From Jan. 4 to Jan. 11, Berkshire Hathaway Inc, which Buffett has run since 1965, paid about US$390 million for an additional 5.1 million shares of Phillips 66, according to filings with the U.S. Securities and Exchange Commission.
The purchases boosted Berkshire's investment in Phillips 66 to 65.68 million shares, or about 12.3 percent of those outstanding, worth $5.21 billion as of Thursday's market close.
Phillips 66 shares closed up $4.03, or 5.4 percent, at $79.28 on the New York Stock Exchange.
As there can be a lag of several days between purchases and SEC filings, we may find out soon that Berkshire continued to buy at the lower levels.
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