KUALA LUMPUR: The FBM KLCI finished higher on Friday despite a generally weak market, partly due to increased tension in the Middle East that reduced investors' appetite for risk.
The 30-stock index rose by 2.81 points, or 0.18% to 1,547.57, with 10 out of the 30 constituent counters falling into the red. For the week, the index ended 0.22% lower. The broader market sagged, with decliners overtaking advancers 918 to 289 while 416 counters were unchanged. Traded volumes stood at 4.7 billion shares valued at RM3.4bil.Brent crude rose 27 cents to US$87.38 a barrel while US West Texas Intermediate crude was at US$83.14 per barrel, up 41 cents.
Reuters reported that oil prices jumped on Friday as reports that Israel had attacked Iran roiled markets and sparked concerns that Middle East oil supply could be disrupted.Japan’s Nikkei 225 tumbled 2.66% to 37,068.35 while South Korea’s Kospi closed down 1.63% at 2,591.86. Hong Kong’s Hang Seng ended 1% lower at 16,224.14, China’s CSI300 index fell 0.8% to 3,541.66 while Singapore’s Straits Times Index ended down 0.43% to 3,174.11.