Banks lead KLCI higher as investor risk appetite improves

KUALA LUMPUR: The FBM KLCI extended its gains for the third day with fund buying of plantations and banks backed by positive sentiments of regional investors, with MPHB Cap and HLCap being the focus on the Malaysian bourse.

At 12.30pm, the KLCI rose 15.32 points to 1,766.89. Turnover was 656.05 million valued at RM923.33mil. There were 417 gainers, 205 losers and 251 counters unchanged.

Reuters reported Asian shares rose for a third day on Friday led by a sharp rally in Tokyo's Nikkei, which is on track to end the first half of the year up a barnstorming 31 percent.

Gold, however, plumbed fresh three-year lows with investors battered and bruised after a 30% drop this year. Analysts suspect the recent leg lower was due in part to forced liquidations of positions and quarter-end selling by funds.

At Bursa Malaysia, MPHB Cap, which made its debut on the Main Market rose 41 sen to RM1.41, Hartalega rose 21 sen to RM6.40 and its warrants 25 sen to RM2.40.

Among banks, Maybank rose 16 sen to RM10.40, HLFG 12 sen to RM14.34, Public Bank 18 sen to RM16.98, CIMB nine sen to RM8.27,AMMB 14 sen to RM7.33 but RHB Cap fell five sen to RM8.55 and HLCap RM1.29 to RM5.15 ahead of its Aug 12 suspension for not meeting the public spread.

Crude palm oil rose RM20 to RM2375. IOI rose five sen to RM5.44 and KL Kepong 28 sen to RM21.46.

Petronas-linked stocks gained with PetGas up 34 sen to RM20.64, PetChem five sen to RM6.61 and PetDag 18 sen to RM25.34.

Top Glove fell 11 sen to RM6.19, F&N 30 sen to RM18.26 and Carlsberg 26 sen to RM15.42.

The ringgit weakened against the dollar at 3.1743 from 3.1723 the previous close.

Among the key regional markets, Japan's Nikkei 225 rose 3.65% to 13,695.92;

Hong Kong's Hang Seng Index rose 1.17% to 20,678.59;

Shanghai's Composite Index rose 0.78% to 1,965.27;

Taiwan's Taiex rose 0.64% to 7,934.47;

South Korea's Kospi rose 1.19% to 1,856.55;

Singapore's Straits Times Index rose 0.96% to 3,148.03. US light crude oil rose 18 cents to US$97.24 and Brent rose 18 cents to US$103.

Spot gold rose 97 cents to US$1,201.64.

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Banks , KLCI , Investor Risk , Improves


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