Banking stocks drive FBM KLCI higher at lunch break

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KUALA LUMPUR: Gains in banking stocks continued to support the key index on Bursa Malaysia to close the morning session on a firm note.

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At 12.30pm, the benchmark index added 3.48 points, or 0.24% to 1,445.33.

There were 382 gainers, 307 losers, and 408 counters traded unchanged on the Bursa Malaysia. Turnover stood at 1.63 billion shares valued at RM658.1mil.

Rakuten Trade believed buying activities may return today as foreign fund flows should continue into this region.

“Therefore, we expect the index to hover within the 1,435-1,445 range today with Banks to be back on the radar,” it said.

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Among the banks, Hong Leong Bank rose 16 sen to RM19.60, CIMB added five sen to RM5.51, RHB Bank gained five sen to RM5.65, Public Bank climbed four sen to RM4.13, AmBank advanced three sen to RM3.78 and Maybank closed unchanged at RM8.90.

Ajinomoto was the top gainer on the broader market, jumping 24 sen to RM16.46, followed by Panasonic Manufacturing, which added 20 sen to RM20.20 and Allianz, which rose 16 sen to RM15.

Malaysian Pacific Industries slid 18 sen to RM28.10, PPB Group fell 16 sen to RM16.50 and Heineken eased 14 sen to RM25.90.

– The Star


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