Name: KLCI trends higher on firmer oil prices
Brand: thestar.com.my
SKU: thestar-com-my-22
Availability: OnlineOnly

critic

KLCI trends higher on firmer oil prices

preview

×ViewKUALA LUMPUR: Investors resumed buying on Bursa Malaysia as oil prices bounced higher while positive news streamed in from the US corporate scene.The FBM KLCI rose 7.79 points to 1,389.68 over Thursday morning as the sell-off earlier in the week was seen as overdone.There were 2.98 billion shares traded across the market for a total value of RM1.38bil.Apart from oil prices finding their footing, US corporate earnings were revealed to be better than expected, which put Wall Street on a rise overnight.Further helping sentiment was the US senate's approval of a new relief package that will add trillions of dollars in stimulus to the US economy.Most markets in Asia tracked the advance on Wall Street. In Southeast Asia, Thailand's and Jakarta's respective benchmark indices were the biggest gainers with increases of nearly 1% apiece. Singapore's Straits Times however kept close to its reference price.Brent crude rose US$1.75 or 8.6% to US$22.12 a barrel, which returned it to March levels of trading.US crude jumped US$1.43 or 10.4% to US$15.21, which kept it at its lowest level in 11 years, although this was a significant improvement from the meltdown prices seen on Tuesday.KLCI stocks leading the advance were Tenaga Nasional rising 12 sen to RM12.62, Axiata gaining eight sen to RM3.83 and IHH climbing nine sen to RM5.21.Top Glove reached a new high as it added 10 sen to RM6.95 even as rival took a breather with a one sen decline to RM7.56.Stocks with the highest volume of exchange included VC up 0.5 sen to 8.5 sen on the back of 1.4 million shares, while Lambo and were both flat at 1.5 sen apiece.On the forex market, the ringgit was trading flat against key currencies. It was unmoved against the US dollar at 4.3600, the pound sterling at 5.3772 and Singapore dollar at 3.0566.Article type: meteredUser Type: anonymous webUser Status: Campaign ID: 1Cxense type: freeUser access status: 3Topic:&nbsp;&nbsp;&nbsp;Report it to us.What is the issue about?Spelling and grammatical errorFactually incorrectStory is irrelevantEmailReport issueReport issueCancelInvalid captcha response. Please re-try again.Thank you for your report!Copyright © 1995-Star Media Group Berhad (10894D)Best viewed on Chrome browsers.#cce-empty-element {margin: 20px auto;width: 100%;text-align: center;}We hope you enjoy this feature!

×ViewKUALA LUMPUR: Investors resumed buying on Bursa Malaysia as oil prices bounced higher while positive news streamed in from the US corporate scene.The FBM KLCI rose 7.79 points to 1,389.68 over Thursday morning as the sell-off earlier in the week was seen as overdone.There were 2.98 billion shares traded across the market for a total value of RM1.38bil.Apart from oil prices finding their footing, US corporate earnings were revealed to be better than expected, which put Wall Street on a rise overnight.Further helping sentiment was the US senate's approval of a new relief package that...

public

The Star Online

thestar.com.my

Credible

Speculation

Anecdotal Evidence

Generalization

Stacking the Deck

Appeal to Authority

Straw Man

Slippery Slope

Emotional Appeal

Red Herring

False Dilemma

Illogical

Moral Equivalency

Ad Hominem

Correlation w/o Causation

Semantics

Begging the Question

Faulty Analogy

Non Sequitur

Bandwagon

Dogmatism

Failing Occam's Razor

Biased

Pure Opinion

Hit Piece

Racial Bias

National Bias

Religious Bias

Financial Incentive

Political Agenda

Gender Bias

Misused Image/Video

Study Misinterpreted

Mistake

Misused Term

Science Misrepresented

Factual Error

Satire

Surface Level

Lack of Reliable Sources

Sensational

Not Credible

Investigative

Balanced

Well Sourced

Great Context

sports

entertainment

U.S.

international

business

technology

science

culture

politics

media

health

KLCI trends higher on firmer oil prices

No article scores yet.

CRITIC REVIEWS

PUBLIC REVIEWS