KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
The financial market is being very volatile, partly influenced by the oil price's volatility. But unlike last week, we have a more positive news circulating the financial world....Saudi to meet Russia in Doha on Tuesday, to discuss the market.
This good news definitely is shared by the global market as most markets seen an uptrend after a bad week last week.
Oil advances above $30 on the news Saudi Arabia’s Oil Minister Ali al- Naimi will speak with his Russian counterpart Alexander Novak in the Qatari capital.
This is an interesting development given that Iran is getting into the game as well.
Oil is still down about 17 percent this year BP Plc predicts the market will remain “tough and choppy” in the first half as it contends with a surplus of 1 million barrels a day. Speculators’ long positions in West Texas Intermediate through Feb. 9 rose to the highest since June, according to data from the U.S. Commodity Futures Trading Commission.
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| Saudi meeting Russia to talk about oil this Tuesday could be the salvation |
This good news definitely is shared by the global market as most markets seen an uptrend after a bad week last week.
Oil advances above $30 on the news Saudi Arabia’s Oil Minister Ali al- Naimi will speak with his Russian counterpart Alexander Novak in the Qatari capital.
This is an interesting development given that Iran is getting into the game as well.
Oil is still down about 17 percent this year BP Plc predicts the market will remain “tough and choppy” in the first half as it contends with a surplus of 1 million barrels a day. Speculators’ long positions in West Texas Intermediate through Feb. 9 rose to the highest since June, according to data from the U.S. Commodity Futures Trading Commission.
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