KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
KUALA LUMPUR (Jan 3): The FBM KLCI closed 8.88 points or 0.55% higher today at 1,611.38, amid higher crude oil prices and after US shares ended at record highs in overnight trades.
Today, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com that the "KLCI's gain was mainly attributed to Petronas-linked counters, as oil prices surged."
Reuters reported Brent crude futures jumped nearly US$3 on Friday to their highest since September, after a US air strike killed key Iranian and Iraqi military personnel, raising concerns escalating Middle East tensions may disrupt oil supplies.
It was reported that Brent, the international benchmark, hit an intraday high of US$69.16 a barrel, its highest since Sept. 17, before easing to US$68.21, up US$1.96, or 3%, by 0618 GMT.
Across Bursa Malaysia, 3.58 billion shares worth RM2.36 billion were traded.
Gainers led decliners by 492 to 447 respectively.
Top gainers included Carlsberg Brewery Malaysia Bhd, Hong Leong Financial Group Bhd and Petronas Gas Bhd.
Petronas Gas closed up 20 sen or 1.18% at RM17.16.
Across global share markets, Reuters reported Asian shares slipped on Friday, erasing early gains, while gold shone and oil prices spiked after US air strikes in Iraq killed a top Iranian commander, heightening geopolitical tensions.
Overnight on Thursday in the US, it was reported that the Dow Jones Industrial Average closed up 330.36 points or 1.16% at 28,868.8, while the S&P 500 gained 27.07 points or 0.84% to 3,257.85 and the Nasdaq Composite added 119.59 points or 1.33% to 9,092.19.
Source: The Edge
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