KUALA LUMPUR, March 18 — Bursa Malaysia opened marginally higher as markets turned volatile following the United States Federal Reserve’s aggressive interest rate stance, and the surge in oil prices due to supply shortage concerns arising from the Russia-Ukraine conflict, analysts said.
“Meanwhile, profit-taking activities saw crude palm oil price declining to around RM6,500 per tonne, while oil benchmark Brent crude closed past the US$106 per barrel as fears on the supply side escalate,” Thong said to Bernama. Of the actives, Dagang Nexchange bagged half-a-sen to 99.5 sen, Hibiscus Petroleum rose four sen to RM1.14 and Bumi Armada added one sen to 42.5 sen.
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