The 30-stock benchmark index FBM KLCI rose 12.96 points or 0.94% to close at 1,389.55 points yesterday led by banking stocks, Petronas-linked stocks and Tenaga Nasional Bhd. The index was down more than 31 points to 1376.59 on Monday as investors were spooked by the prospects of renewed US-China trade tension.
PETALING JAYA: The local bourse staged a rebound driven by higher global crude oil price and as well as a cut in key interest rate by the central bank in a bid to encourage borrowing, investment and consumption among businesses and consumers.
This is despite analysts expecting oil price recovery to take years due to high inventory.
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