KUALA LUMPUR: The FBM KLCI closed 1.75% higher, thanks to late buying support in Petronas-linked and banking counters.

       At 5 pm, the benchmark index surged 27.08 points or 1.75% to 1,570.10, its highest since May 5. For the month, the index retreated 12.88 points

       Traded volume surged to 3.79 billion shares worth RM6.11bil. There were 535 gainers, 395 losers and 425 counters unchanged.

       In today’s session, 22 of the KLCI-component stocks closed higher while six counters ended lower.

       Among the gainers, Nestle jumped RM1.70 to RM134.80, Hong Leong Financial Group rose 72 sen to RM20.18 and Telekom Malaysia gained 21 sen to RM5.36.

       Petronas Dagangan jumped RM1.64 to RM22.56, Petronas Gas advanced 66 sen to RM17.28 and Petronas Chemicals climbed 26 sen to RM10.26.

       Kuala Lumpur Kepong shed 24 sen to RM25.56, MR DIY lost 15 sen to RM3.25 and Tenaga fell 10 sen to RM9.15.

       F&N tumbled RM1.64 to RM19.42, Hengyuan fell 45 sen to RM6.25 and Carlsberg eased 40 sen to RM22.10.

       Meanwhile, the ringgit was quoted at 4.3790, down 0.29% against the US dollar.

       The local unit fell 0.14% to 5.5289 against the pound sterling, fell 0.09% to the Euro at 4.7042 and declined 0.01% against the Singapore dollar at 3.1981.

       Oil prices extended gains on Tuesday after the EU agreed to slash oil imports from Russia.

       Brent crude rose US$2.22 to US$123.89 per barrel while US crude gained US$4.09 to US$119.16 a barrel.

       On the external front, MSCI's broadest index of Asia-Pacific shares ex-Japan added 0.9%.

       Japan’s Nikkei 225 ended 0.33% lower at 27,279.80 while South Korea’s Kospi index rose 0.61%, at 2,685.90, its highest close since May 2.

       Hong Kong’s Hang Seng index advanced 1.38% to 21,415.20.

       China’s CSI300 index closed up 1.6% to 4,091.52, its highest closing since April 19, while the Shanghai Composite Index gained 1.2% to 3,186.43.