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.
Global markets tumbled after fresh attacks on oil tankers in the Gulf reignited fears of a prolonged supply shock, sending crude prices above US$100 per barrel and reviving inflation concerns. Oil Breaks US$100 Barrier Brent crude jumped as much as 10.4% to US$101.59 before trimming gains. US crude rose 5.2% to US$91.82. The spike followed attacks on two fuel tankers in Iraqi waters and reports that Iraqi oil ports halted operations. Oman also evacuated vessels from its key export terminal as a precaution. Iran has warned oil...