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buy apple account:Rising crude prices shore up Bursa in early trade

admin2021-02-2016

KUALA LUMPUR: A buying mood returned to Bursa Malaysia following yesterday's decline as rising crude oil prices raised the prospect of a recovering economy.Gains however remained capped by the corporate earnings that are scheduled for release in the coming days.On the technical charts, Malacca Securities Research believes the pullback remains in place although the downside risk will be cushioned towards the support of 1,580."On the flipside, a breakout above 1,600 may indicate that recovery i back on track towards the next resistance at 1,620-1,650," it said.At 9.10am, the FBM KLCI was up 1.1 points to 1,596.39 with Kuala Lumpur Kepong leading the advance on the back of positive earnings results.The plantations counter rose 28 sen to RM23.04.Menawhile Tenga Nasional was yup seven sen to RM9.93 and Petronas Gas gained eight sne to RRM16.26.Telcos also advanced with Maxis gaining four sne to RM4.84 and Axiata adding four sen to RM3.42 while Digi rose one sen to RM3.79.As the price of Brent crude continued to push higher past US$64 a barrel, oil and gas plays on Bursa were seen gaining weight.Among the top traded energy stocks were Velesto up one sen to 17.5 sen, Sapura Energy rising one sen to 16 sen, Hibiscus jumping 4.5 sne to 74.5 sen and Bumi Armada gaining two sen to 40 sen.
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