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.
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...