KUALA LUMPUR (Feb 16): The FBM KLCI rose 15.03 points or 0.9%, tracking Asian share market gains as rising crude oil prices supported sentiment.

At 5pm, the KLCI closed at 1,664.99 points. Gains in counters such as SapuraKencana Petroleum Bhd and UMW Holdings Bhd supported the index's advance.

Asian stock indices rose. In China, the Shanghai Composite gained 3.29%, while Hong Kong's Hang Seng climbed 1.08%.

Japan's Nikkei 225 rose 0.2% while South Korea's Kospi was up 1.4%.

Reuters reported Asian shares extended gains on Tuesday as a combination of stabilising Chinese markets, rebounding oil prices and solid US consumption data prompted investors to look for bargains after last week's rout.

Bloomberg reported that Brent crude surged above US$35 a barrel as energy ministers from Saudi Arabia and Russia, two of the world's biggest oil producers, met in Doha on Tuesday to discuss the market.

In Malaysia, an analyst told theedgemarkets.com the local stock market was still volatile and full of uncertainties despite substantial gains today.

Besides oil prices, he said investors would closely monitor corporate earnings during the current financial reporting season.

"Moving forward, investors will closely watch oil price, currencies and trade data," he said via telephone.

Bursa Malaysia saw 1.8 billion shares worth RM1.77 billion traded. Gainers outnumbered decliners at 551 against 303.

Hubline Bhd was the most-actively traded stock. The leading gainer was Genting Bhd.

British American Tobacco (M) Bhd and Petronas Gas Bhd were among the biggest decliners.