Business News

Published: Monday February 25, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 1:01:15 AM

KLCI closes higher, Maybank, TM lead

KUALA LUMPUR: Performing in line with regional markets, the FBM KLCI ended Monday higher, boosted by gains in Maybank and Telekom Malaysia.

At the close, the KLCI rose 5.27 points or 0.32% to 1,627.35. Turnover was 850.48 million shares worth RM1.41bil. The broader market was firmer with 326 gainers, 296 losers and 325 stocks unchanged.

The market may extend their gains moving forward should Wall Street show a positive performance, analysts said.

Bloomberg reported The yen fell to the lowest level in almost three years, Japanese bond yields slid and the nation's stocks rallied on speculation Prime Minister Shinzo Abe will nominate a central bank chief who favors stimulus. European shares advanced as investors awaited Italian poll results.

Among the key regional markets, Japan's Nikkei 225 surged 2.43% to 11,652.52, Hong Kong's Hang Seng Index added 0.17% to 22,820.08, Shanghai's Composite Index rose 0.50% to 2,325.82 and Singapore's Straits Times Index was flat at 3,288.76 points.

Back home, stock market movers were Maybank which rose ei ght sen to RM9.15, TM added 12 sen to RM5.33 and four sen to RM4.59.

Hong Leong Bank lost 10 sen to RM14.40 on profit taking, IHH Healthcare was down three sen to RM3.36 and PPB Group Bhd fell 10 sen to RM12.44.

Crude palm oil for third-month futures fell RM60 to RM2,474 per tonne.

The ringgit strengthened against the US dollar to RM3.0981 at its close.

US light crude oil added 52 cents to US$93.65 per barrel.

Tags / Keywords: News, Business, KLCI, Maybank, Telekom Malaysia, Business


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