Last Week on Bursa Malaysia: KLCI Edges Up as Petronas Chemicals Jumps, Oil Risks Loom
Bursa Malaysia eked out a gain last week, nudged higher as Petronas Chemicals Group rallied late and pushed the benchmark just into the green. The FTSE Bursa Malaysia KLCI wrapped up Friday at 1,718.06, rising 1.45 points over the week. Petronas Chemicals jumped 22.2%, adding 10.3 points to the index with investors zeroing in on its edge in domestic feedstock. The gain stood out during a week rattled by oil-shock anxieties and fresh inflation concerns across Asia. Asian shares took a steep hit on March 4, with markets on edge over a potential energy shock, according to Reuters. Bank Negara Malaysia, for its part, left its overnight policy rate untouched at 2.75% on Thursday, maintaining its stance as external risks heightened.
