KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
China, the world’s largest oil importer, is projected to hit its oil consumption peak by 2027 , driven by the shift to electric vehicles (EVs) and liquefied natural gas (LNG) -powered trucks, according to Sinopec, Asia's largest refiner. Key Highlights Oil Demand Peaks 2027 Peak : Oil consumption will plateau at 800 million metric tonnes (~16 million barrels per day). 2024 Outlook : Demand is projected to drop to 750 million tonnes , marking only the second decline in two decades . Key Factors Behind the Peak Shift to Cleaner Energy : Electric Vehicles : Displacing 26 million tonnes of gasoline (~15% of total consumption). Gasoline demand set to decline 2.4% to 173 million tonnes by 2025 . LNG-Fueled Trucks : Account for 22% of truck sales in 2024. Diesel demand expected to drop 5.5% to 174 million tonnes by 2025 . Sectoral Shifts : By 2060, the petrochemical sector will consume 55% of ...