Friday 29 Mar 2024
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KUALA LUMPUR (Jan 21): The FBM KLCI fell 3.69 points or 0.2% as crude oil prices at below US$30 a barrel continue to hit sentiment. The commodity forms a crucial component of the Malaysian economy and government revenue.

At 9:10am, the KLCI was traded at 1,615.14. Yesterday, the index fell 10.39 points or 0.6% to close at 1,618.83. 

Today, analysts said local share market sentiment in the near term hinged on crude oil prices. "Sentiment to remain tepid in near-term amid worries about further declines in oil and (as) hopes of China stimulus programme fizzled out temporarily," TA Securities Holdings Bhd wrote in a note.

Bursa Malaysia saw some 137 million shares worth RM51 million changed hands. There were 148 gainers versus 160 decliners.

Top gainer was Petronas Dagangan Bhd while Lay Hong Bhd led decliners.
The most-active stock was Berjaya Corp Bhd.

Asian shares, however, rose. Japan's Nikkei 225 added 1.05% while South Korea's Kospi rose 0.4%.

Bloomberg reported that Asian stocks gained, easing a selloff in global equities that brought the regional benchmark index to a three-year low, as crude oil rebounded after plunging below $27 a barrel.

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