Friday 29 Mar 2024
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KUALA LUMPUR (Jan 3): The FBM KLCI closed 8.88 points or 0.55% higher today at 1,611.38, amid higher crude oil prices and after US shares ended at record highs in overnight trades.

Today, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com that the "KLCI's gain was mainly attributed to Petronas-linked counters, as oil prices surged."  

Reuters reported Brent crude futures jumped nearly US$3 on Friday to their highest since September, after a US air strike killed key Iranian and Iraqi military personnel, raising concerns escalating Middle East tensions may disrupt oil supplies.

It was reported that Brent, the international benchmark, hit an intraday high of US$69.16 a barrel, its highest since Sept. 17, before easing to US$68.21, up US$1.96, or 3%, by 0618 GMT.

Across Bursa Malaysia, 3.58 billion shares worth RM2.36 billion were traded.
Gainers led decliners by 492 to 447 respectively.

Top gainers included Carlsberg Brewery Malaysia Bhd, Hong Leong Financial Group Bhd and Petronas Gas Bhd.

Petronas Gas closed up 20 sen or 1.18% at RM17.16.

Across global share markets, Reuters reported Asian shares slipped on Friday, erasing early gains, while gold shone and oil prices spiked after US air strikes in Iraq killed a top Iranian commander, heightening geopolitical tensions.

Overnight on Thursday in the US, it was reported that the Dow Jones Industrial Average closed up 330.36 points or 1.16% at 28,868.8, while the S&P 500 gained 27.07 points or 0.84% to 3,257.85 and the Nasdaq Composite added 119.59 points or 1.33% to 9,092.19.

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