Relief rally for Asians markets, Bursa climbs

Jewelry makers Tomei and Poh Kong retreated after chalking up big gains the previous day following the surge in gold prices.

KUALA LUMPUR: Asian markets and Bursa Malaysia heaved a sigh of relief as Mideast tensions toned down slightly, prompting investors to pick up battered stocks.

At 9.17am, the FBM KLCI was up 8.34 points or 0.52% to 1,597.44. Turnover was 367.29 million shares valued at RM155.37mil. There were 377 gainers, 86 losers and 173 counters unchanged.

Reuters reported Asian stocks rebounded and oil beat a retreat, as the US and Iran backed away from the brink of further conflict in the Middle East and investors reversed their safety plays.