KUALA LUMPUR, Nov 12 (Bernama) -- Bursa Malaysia extended its losing streak for a fourth consecutive session, closing lower on Thursday amid continued broad-based selling that weighed on market sentiment, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 9.23 points or 0.57 per cent to 1,585.96 from Wednesday's close of 1,595.19. The benchmark index opened 3.61 points lower at 1,591.58 and fluctuated between an intraday low of 1,583.66 and a high of 1,592.89 throughout the day. Market breadth remained negative with losers thumping gainers 799 to 318, while 476 counters were unchanged, 1,181 untraded and 13 suspended. Turnover climbed to 3.06 billion units valued at RM2.56 billion compared with yesterday’s 2.90 billion units valued at RM2.33 billion.
Prolonged Middle East tensions and volatile oil markets could turn into a tailwind for Gas Malaysia , according to UOB Kay Hian. The research house says sustained higher natural gas prices would directly lift the company’s profitability — making it one of the clearer beneficiaries of the current energy shock. Key Takeaways Gas Malaysia derives about 40% of net profit from gas sales Every 1% change in gas prices can swing net profit by 4% LNG prices in Asia have surged 46% in the past week Earnings upside if elevated oil prices persist beyond six months Tenaga Nasional impact seen as marginal Why Gas Malaysia Stands to Gain Gas Malaysia Bhd supplies natural gas to over 1,000 industrial customers, with about 40% of its net profit tied directly to gas sales. According to UOB Kay Hian: Every 1% change in natural gas prices can shift net profit by 4% If elevated oil prices persist beyond six months, earnings could improve meaningfully Asian LNG prices have surged 46% in just one ...