KLCI maintains push for third day of gains

KUALA LUMPUR: The FBM KLCI held on to early gains amid an advance in financial heavyweights.

At 12.30pm, the key index was up five points to 1,517.43.

The advance on Bursa Malaysia puts the bourse en route to a third straight day of gains, returning the FBM KLCI to a three-week high.

Underlining the rally was US President Donald Trump's return to the White House, which lifted regional markets, and hopes of progress towards a US stimulus bill.

Bank stocks led the market higher with Maybank rising nine sen to RM7.21, Public Bank gaining two sen to RM15.80, Hong Leong Bank climbing 18 sen to RM15.18 and CIMB adding two sen to RM3.08

Telcos also contributed to the day's advance, with Maxis rising 16 sen to RM5.06 and Axiata gaining two sen to RM2.96. Digi lost one sen to RM4.03.

In rubber counters, it was reported that Top Glove would reimburse about US$40mil to reimburse foreign workers for recruitment fees.

The world's largest glove company shed 17 sen to RM8.75. Rivals in the sector were also seen slipping on profit-taking after chalking up three days of gains.

Hartalega fell 44 sen to RM17.12.

In top traded stocks, XOX rose 0.5 sen to 12.5 sen, Macpie lost 2.5 sen to 47 sen and AT was flat at 7.5 sen.

Asian markets remained firm over the uptick in positive sentiment. Japan's Nikkei rose 0.5%, South Korea's Kospi gained 0.6% and Australia's ASX200 climbed 0.2%.

While Shanghai's markets remained closed, Hong Kong's Hang Seng gained 0.75%.
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Bursa Malaysia , FBM KLCI , equities


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