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 (May 15): The FBM KLCI today closed 6.19 points or 0.44% higher as global crude oil price gains offered an impetus to Bursa Malaysia's oil and gas (O&G)-related shares' price and volume rises, which propelled securities trade across the bourse above nine billion units again.
At 5pm, the KLCI closed at 1,403.44 points, while volume across Bursa rose to 9.23 billion securities worth RM3.87 billion as O&G-related companies' share prices rose among the top gainers and most active stocks.
KNM Group Bhd and Hibiscus Petroleum Bhd topped the most active list, while Petronas Gas Bhd (PetGas) and MISC Bhd ended among the top gainers after oil prices jumped more than 3% today, touching more than one-month highs amid signs that demand for crude was picking up with China reporting increased refinery runs, rounding out a week of bullish news on the supply front.
"Brent crude was up US$1.21, or 3.9%, at US$32.34 (RM140.71) a barrel by 0707 GMT after touching US$32.44, the highest since April 14. Brent rose nearly 7% yesterday and is heading for a 3% gain for the week after rising the previous two weeks.
"West Texas Intermediate (WTI) oil was up 92 cents, or 3.3%, at
US$28.48 a barrel after reaching US$28.54, the highest since early
April. WTI jumped 9% in the previous session and is also heading for a
third weekly increase, up about 15%,” Reuters reported.
In Malaysia, Inter-Pacific Securities Sdn Bhd head of research Victor Wan told theedgemarkets.com that "higher oil prices offered impetus for Petronas stocks”.
Top active stock KNM ended with a volume of some 673 million shares. The stock’s price closed up three sen or 20% at 18 sen.
PetGas’ share price rose 24 sen or 1.6% to RM15.28.
Across Bursa today, volume rose to 9.23 billion securities from 7.01 billion units yesterday. On Wednesday, trade volume across Bursa closed higher at an all-time high of 9.59 billion units as the spectre of a resurgence of the Covid-19 outbreak dictated world stock market sentiment.
Today, Wan said “everything is very fluid at this point”, depending on how the pandemic pans out.
Source: The Edge
In Malaysia, Inter-Pacific Securities Sdn Bhd head of research Victor Wan told theedgemarkets.com that "higher oil prices offered impetus for Petronas stocks”.
Top active stock KNM ended with a volume of some 673 million shares. The stock’s price closed up three sen or 20% at 18 sen.
PetGas’ share price rose 24 sen or 1.6% to RM15.28.
Across Bursa today, volume rose to 9.23 billion securities from 7.01 billion units yesterday. On Wednesday, trade volume across Bursa closed higher at an all-time high of 9.59 billion units as the spectre of a resurgence of the Covid-19 outbreak dictated world stock market sentiment.
Today, Wan said “everything is very fluid at this point”, depending on how the pandemic pans out.
Source: The Edge
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