Maybank, RHB Bank lead KLCI higher early Thursday


KUALA LUMPUR: Maybank and RHB Bank led blue chips higher early Thursday as investor sentiment perked up in line with key Asian markets while crude oil prices climbed.

At 9.20am, the FBM KLCI was up 3.97 points or 0.24% to 1,646.18. Turnover was 146.14 million shares valued at RM63.88mil. There were 172 gainers, 107 losers and 173 counters unchanged.

Asia stocks rose on Thursday, tracking an overnight rally on Wall Street, Reuters reported. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%, pulling further away from a one-month low on Friday when it plunged more than 3% in reaction to Britain's decision to leave the European Union.

The US dollar took a breather in Asia on Thursday but remained near a 3-1/2-month high against a basket of currencies hit in the wake of Britain's stunning vote to exit from the European Union, while recently battered sterling crawled higher. The dollar index, which tracks the greenback against a basket of six major rivals, edged down 0.1% to 95.642, on track for a monthly loss of 0.2%.

US crude oil futures settled up US$2.03, higher at US$49.88, while Brent crude rose US$2.03  at US$50.61 per barrel.

At Bursa, foreign funds were net buyers on Wednesday at +RM14.14mil while local institutions and local retail investors were net sellers at –RM2.47mil and –RM11.67mil.

Maybank and RHB Bank rose seven sen each to RM8.19 and RM5.15. 

SCGM added eight sen to RM3.50 and Enra seven sen to RM2.05.

SK Petro and Bumi Armada rose one sen each to RM1.46 and 72.5 sen while KNM gained 0.5 sen to 42 sen.

MPI was the top loser, down 38 sen to RM7.37 while Petronas Dagangan lost 14 sen to RM23.22 and Scientex 12 sen to RM12.78. QL Resources was doqn 10 sen to RM4.35 and Ta Ann nine sen lower at RM3.36.


Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Malayan Flour Mills earmarks RM300mil capex for FY24
Epicon gets subcontract job worth RM50mil
Kawan Renergy IPO oversubscribed by 94.99 times
FBM KLCI extends gain to fresh 26-month high
Top HSBC shareholder Ping An will retain investment in bank, source says, amid sale talk
BWYS inks underwriting agreement with M&A Securities for ACE Market IPO
Anthony Loke: Proposed MAHB privatisation boosts efficiency
Asian FX ease, stocks struggle for direction on US rate uncertainty
Gold prices head for second weekly gain on Fed rate-cut optimism
Oil set for weekly gain on signs of improving demand

Others Also Read