Kuala Lumpur (Feb 18): The FBM KLCI rose 15.7 points or 0.9% as global share markets reacted to crude oil gains after Iran indicated support for Russia and Saudi Arabia's move to cap production.

At 5pm, the KLCI closed at 1,680.02 points after reaching an intraday high of 1,685.65. Across Asia, Japan's Nikkei 225 gained 2.28%, Hong Kong's Hang Seng increased 2.32% while South Korea's Kospi closed 1.32% higher.

Reuters reported that Asian stocks rose across the board on Thursday as crude oil extended gains on hopes that big producers will cap output, improving investor sentiment for riskier assets.

Brent futures rose 21 US cents to US$34.71 a barrel by 0740 GMT, having closed 7.2% higher in the previous session after hitting an intraday high of US$34.99.

In Malaysia, Inter-Pacific Securities Sdn Bhd head of Research Pong Teng Siew told theedgemarkets.com that the KLCI had a very strong performance since morning as it was reacting to news about Iran's comment on oil and the improved sentiment worldwide.

"There was some profit taking that took place though after a surge in the morning rally," Pong said.

On the broader market, Bursa Malaysia saw 1.67 billion shares worth RM2.1 billion traded. Gainers beat decliners at 545 against 302.

Sam Engineering & Equipment (M) Bhd led decliners, while Kuala Lumpur Kepong Bhd was the top gainer. The top-active entities included Gamuda Bhd warrants and Xidelang Holdings Ltd shares.