KUALA LUMPUR, June 24 (Bernama) -- Bursa Malaysia finished higher on Wednesday as bargain-hunting activities emerged following recent pullback in the market, analysts said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 0.13 per cent, or 2.21 points, to 1,682.13 from Tuesday’s close of 1,679.92. The index opened 2.11 points better at 1,682.03 and moved between 1,680.49 and 1,690.66 throughout the trading session. Market breadth was positive with gainers outpacing decliners 518 to 483, while 564 counters were unchanged, 1,175 untraded and 41 suspended. Turnover shrank to 2.76 billion units valued at RM2.42 billion against 3.35 billion units worth RM3.12 billion on Tuesday.
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...