KUALA LUMPUR, Feb 26 — Bursa Malaysia closed higher today, reversing two straight days of losses on the back of improved oil prices and buying support for selected blue chips.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed 5.28 points firmer at 1,663.44 points from 1,658.16 points yesterday. It opened 6.65 points higher at 1,664.84 points.

CIMB led the rise in the composite index with 3.197 points, which saw the stock soar 20 sen to RM4.47 with 21.88 million shares exchanging hands.

A dealer said oil prices turned steadier as Saudi Arabia, Qatar, Venezuela and Russia sought to coordinate output.

“That turnaround helped establish a positive tone and short relief for global stocks despite a steep decline in Shanghai stocks.

“We note that big moves for Chinese stocks no longer had the same impact on global sentiment as they might have had before,” the dealer added.

On the scoreboard, the FBM Emas Index was 6.55 points higher at 11,540.64 and the FBMT100 Index rose 9.93 points to 11,245.43. However, the FBM 70 gave up 82.06 points for 12,776.12, the FBM Emas Shariah Index fell 25.83 points to 12,310.18 and the FBM Ace declined 28.23 points to 5,690.6.

Sector-wise, the Industrial Index advanced 21.76 points to 3,249.47, the Finance Index chalked up 66.47 points to 14,028.51 and the Plantation Index lost 12.94 points to 7,837.09.

There were 334 gainers and 492 decliners, while 343 counters were unchanged, 602 counters untraded and 58 others suspended.

Volume was marginally higher at 1.69 billion shares, worth RM1.95 billion, from 1.65 billion shares, worth RM1.86 billion, traded yesterday.

Among heavyweights, Public Bank perked 8 sen to RM18.46 while Tenaga was flat at RM13.18. However, Maybank lost 11 sen to RM8.53, Petronas Chemicals eased 8 sen to RM6.78 and IHH Healthcare slipped 3 sen to RM6.50.

Of actives, PUC Founder shed 1 sen to 9 sen, AirAsia erased 5 sen to RM1.39 and APFT inched down 0.5 sen to 7 sen.

Main Market volume rose to 1.01 billion units, valued at RM1.85 billion, from yesterday’s 982.69 million units worth RM1.75 billion.

Turnover on the ACE Market fell to 475.89 million shares, worth RM56.2 million against 493.64 million shares, valued at RM62.42million, transacted yesterday.

Warrants expanded to 202.44 million units, worth RM42.8 million, from 168.49 million units, worth RM38.56 million, traded yesterday.

Consumer products accounted for 75.15 million shares traded on the Main Market, industrial products (270.57 million), construction (32.87 million), trade and services (412.35 million), technology (17.19 million), infrastructure (11.58 million), SPAC (43.68 million), finance (66.22 million), hotels (133,600), properties (56.44 million), plantations (15.07 million), mining (200), REITs (5.62 million) and closed/fund (19,700). — Bernama