KUALA LUMPUR: The FBM KLCI edged higher on Friday as crude oil priced climbed amid rising geopolitical tensions in the middle east.
However, trading on the domestic market is expected to remain subdued as traders remain away from their desks for the Chinese New Year celebrations.
The Mainland China and Hong Kong markets are shuttered during this period, leading to overall quiet trading in the region.
At the opening bell, Malaysia's benchmark index was up 0.68 points to 1,752.79, affirming the positive sentiment on the market remained intact.
On the oil market, Brent crude has risen over 6% over the last two sessions to US$71.66 as the US considered military action against Iran over its nuclear programme.
"Higher crude prices may lift interest in energy-related counters, although broader market sentiment could remain cautious given external uncertainties," said Apex Research in its outlook.
Overall, the research firm expects the FBM KLCI to trade range-bound with a mild positive bias.
On the blue-chip index, 99 Speed Mart rose seven sen to RM3.57. Maybank remaind on the uptrend, gaining two sne to RM12.08, while MR DIY added one sen to RM1.88.
Top actives on the broader markets were NexG up one sen to 30 sen, Astro
rising 0.5 sen to eight sen and Malaysia Aviation Group unchanged at 18 sen.
