KUALA LUMPUR: Banking stocks such as Hong Leong Bank, Hong Leong Financial Group and CIMB Group
underpinned the FBM KLCI firm performance on Tuesday.
At 5pm, the 30-stock index added 11.38 points to 1,871.46. The market traded within a range of 6.56 points between an intra-day high of 1,872.35 and a low of 1,865.79 during the session. The local bourse opens up 7.07 points to 1,867.15.
On the broader market, losers thumped gainers 563 to 443, while 416 counters were unchanged. Turnover stood at 2.76 billion shares worth RM2.89bil.
Dealers said interest in banking stocks lifted the market, posting strong gains and boosting the overall KLCI.
Meanwhile, the ringgit weakened against the US dollar. The ringgit was quoted at 3.9123 against the US dollar at 5pm.
At Bursa Malaysia, the top gainer was Dutch Lady that gained RM2.20 to RM69.90, its all-time high. Hong Leong Financial Group rose 74 sen to RM19.20 while Ajinomoto gained 56 sen to RM22.98. The decliners included British American Tobacco, Pos Malaysia and Tong Her.
Movers in the KLCI component stocks included Hong Leong Bank (HL Bank) which pushed the index up by 2.17. HL Bank rose 56 sen to RM19.08.
CIMB gained nine sen to RM7.29 lifting the index higher by 1.484. Tenaga added 14 sen to RM15.76, nudging the index up by 1.418.
On the external front, China stocks snapped a six-session winning streak on Tuesday, led lower by real estate and resource firms, as investors booked profits after a recent strong rally.
At the close, the Shanghai Composite Index was down 1.1% at 3,292.07. Hong Kong’s the Hang Seng index rose 0.7% to 31,498.60.
The Nikkei rose 1.1% to 22,389.86, its highest close since Feb. 5 and almost recovering to its 100-day moving average at 22,419. The South Korean’s Kospi was down 1.51 points or 0.06% at 2,456.14.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
