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.
Oil prices edged higher Thursday after OPEC+ delayed unwinding production cuts for the second time, aiming to stabilize the market amid global oversupply and sluggish demand from China. Market Reaction WTI crude (January) : +$0.35 (0.5%) to $68.89/bbl. Brent crude (February) : +$0.53 (0.7%) to $72.84/bbl. Natural gas (January) : +2.3% to $3.115/MMBtu. The production cuts, initially planned for January, will now begin in April 2025. Full implementation is pushed back to September 2026 , marking a slower unwinding pace than earlier planned. Expert Insights David Oxley, Capital Economics : Delaying production increases buys OPEC+ time but doesn’t resolve weak global demand. Risks to oil prices remain skewed downward. Robert Yawger, Mizuho Securities : OPEC+ appears to wait for Chinese demand recovery , a strategy that could take time. Jefferies Analysts : OPEC+ is unlikely to boost supply until the market can absorb it, especially without a reduction in Iranian exports . Broader Context ...