Return of foreign funds lifts Malaysian stocks and ringgit

PETALING JAYA: The FTSE Bursa Malaysia KL Composite Index (FBM KLCI) took a stab at the 1,700-point level for the first time this year, as an inflow of foreign funds, attracted by the stronger ringgit and a rebound in the price of crude oil, lifts blue chip stocks.

But quick profit taking curbed some of the early gains as the benchmark index ended the day up 5.44 points to 1,697.93 points. Gainers included SapuraKencana Petroleum Bhd, Petronas Dagangan Bhd, Petronas Gas Bhd, PPB Group Bhd and Genting Bhd.