KUALA LUMPUR: Asian stocks, including at Bursa Malaysia, recovered slightly on Tuesday, March 8 as crude oil prices retreated from recent highs on reports that the Organisation of the Petroleum Exporting Countries (OPEC ) might boost production.
Kuwait's oil minister said OPEC was in talks to boost production for the first time in more than two years, according to Reuters.
Such a move would mean the producer group's was effectively putting a cap on prices to help keep the global economic recovery on track, it said.
The FBM KLCI rose 1.92 points to 1,517.66, lifted by gains including at Petronas Chemicals, Genting and banking stocks.
Gainers led losers by 529 to 223, while 259 counters traded unchanged. Volume improved to 1.17 billion shares valued at RM1.75 billion from 714.8 million shares on Monday.
Regional markets closed in positive territory, while European markets mostly opened higher as crude oil prices eased somewhat.
Brent oil was down around US$1 at just above US$114 a barrel, after earlier dropping more than US$2, according to Reuters.
Revolts in Tunisia and Egypt, fighting in Libya, and protests from Morocco to Oman had driven Brent to almost US$120 a barrel, it said.
At the regional markets, Hong Kong's Hang Seng Index jumped 1.71% to 23,711. 70, the Singapore Straits Times Index rose 1.22% to 3,103.84, South Korea's Kospi Index gained 0.81% to 1,996.32, Taiwan's Taiex added 0.39% to 8,747,75, Japan's Nikkei 225 was up 0.19% to 10,525.19 while the Shanghai Composite Index edged up 0.12% to 2,999.94.
On Bursa Malaysia, Petronas Chemicals rose 12 sen to RM10.38, Genting 11 sen to RM6.45, Maybank three sen to RM8.80, Public Bank four sen to RM13.12, CIMB two sen to RM8.01,'' Genting Malaysia three sen to RM3.43 and DiGi six sen to RM27.68.
Panasonic rose 82 sen to RM19.68, BAT was up 42 sen to RM47.78, Nestle 40 sen to RM45.50, Boustead 25 sen to RM5.61, Sindora 24 sen to RM1.79 while Goldis and Proton rose 20 sen each to RM1.70 and RM3.38.
Decliners included Warisan, Far East, Petronas Dagangan, Ta Ann, Chin Teck, Genting PLANTATION []s and Handal Resources.
HWGB was the most actively traded counter with 67.24 million shares done. The stock rose three sen to 58 sen. Other actives included Karambunai, Petronas Chemicals, Iris Corp, SAAG, Perisai and Scomi.
Berjaya Food which made its debut on the Main Market today was among the actively traded stocks with 35.9 million shares done. The stock was up 12.5 sen to 63.5 sen.
Kuwait's oil minister said OPEC was in talks to boost production for the first time in more than two years, according to Reuters.
Such a move would mean the producer group's was effectively putting a cap on prices to help keep the global economic recovery on track, it said.
The FBM KLCI rose 1.92 points to 1,517.66, lifted by gains including at Petronas Chemicals, Genting and banking stocks.
Gainers led losers by 529 to 223, while 259 counters traded unchanged. Volume improved to 1.17 billion shares valued at RM1.75 billion from 714.8 million shares on Monday.
Regional markets closed in positive territory, while European markets mostly opened higher as crude oil prices eased somewhat.
Brent oil was down around US$1 at just above US$114 a barrel, after earlier dropping more than US$2, according to Reuters.
Revolts in Tunisia and Egypt, fighting in Libya, and protests from Morocco to Oman had driven Brent to almost US$120 a barrel, it said.
At the regional markets, Hong Kong's Hang Seng Index jumped 1.71% to 23,711. 70, the Singapore Straits Times Index rose 1.22% to 3,103.84, South Korea's Kospi Index gained 0.81% to 1,996.32, Taiwan's Taiex added 0.39% to 8,747,75, Japan's Nikkei 225 was up 0.19% to 10,525.19 while the Shanghai Composite Index edged up 0.12% to 2,999.94.
On Bursa Malaysia, Petronas Chemicals rose 12 sen to RM10.38, Genting 11 sen to RM6.45, Maybank three sen to RM8.80, Public Bank four sen to RM13.12, CIMB two sen to RM8.01,'' Genting Malaysia three sen to RM3.43 and DiGi six sen to RM27.68.
Panasonic rose 82 sen to RM19.68, BAT was up 42 sen to RM47.78, Nestle 40 sen to RM45.50, Boustead 25 sen to RM5.61, Sindora 24 sen to RM1.79 while Goldis and Proton rose 20 sen each to RM1.70 and RM3.38.
Decliners included Warisan, Far East, Petronas Dagangan, Ta Ann, Chin Teck, Genting PLANTATION []s and Handal Resources.
HWGB was the most actively traded counter with 67.24 million shares done. The stock rose three sen to 58 sen. Other actives included Karambunai, Petronas Chemicals, Iris Corp, SAAG, Perisai and Scomi.
Berjaya Food which made its debut on the Main Market today was among the actively traded stocks with 35.9 million shares done. The stock was up 12.5 sen to 63.5 sen.
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