KUALA LUMPUR: The FBM KLCI closed higher for the second consecutive day on continuous buying momentum.

       The benchmark index closed up 4.57 points or 0.29% to close at 1,598.32, its highest in a week. The index touched an intraday high of 1,599.91points.

       Across the broader market, gainers outnumbered decliners 518 to 445, after some 2.84 billion securities worth a total of RM2.03bil changed hands.

       Dealers said investors were generally optimistic given the improvement in the local market sentiment.

       Among the gainers on Bursa Malaysia, Hong Seng-PA rose 59 sen to RM3.49, Nestle added 50 sen to RM132.80, Heineken gained 38 sen to RM24.14 and Texchem advanced 30 sen to RM2.80.

       Petronas Dagangan fell 20 sen to RM21.70, PMB Technology-WA lost 20 sen to RM15.30 and Ancom eased 13 sen to RM3.70.

       Among the banks, Maybank added eight sen to RM8.88, Public Bank climbed two sen to RM4.67, CIMB rose eight sen to RM5.17, RHB Bank advanced four sen to RM5.92 and Hong Leong Bank gained 22 sen to RM20.70.

       Meanwhile, Reuters reported that oil prices rose on Thursday as concerns about supply due to a potential European Union (EU) ban on Russian oil came to the fore.

       Brent crude fell US$1.74 to US$108.54 a barrel while US West Texas Intermediate crude was at US$103.72 per barrel, up US$1.53.

       Among the key regional markets:

       Japan’s Nikkei 225 closed up 1.23% to 27,553.06;

       Hong Kong’s Hang Seng Index fell 1.25% to 20,682.22;

       Shanghai Composite Index lost 2.26% to 3,079.81;

       Taiwan’s Taiex fell 0.12% to 17,127.95;

       South Korea’s Kospi advanced 0.35% to 2,728.21 and;

       Singapore’s Straits Times Index rose 0.39% to 3,348.46 points.