KUALA LUMPUR (May 29): The FBM KLCI rose to close firmly above the 1,560-point level on Tuesday, lifted by banking stocks and Petronas-linked companies.
The FBM KLCI rose 10.38 points to 1,565.32. Gainers led losers by 416 to 284, while 300 counters traded unchanged. Volume was 756.53 million shares, valued at RM984.41 million.
Asian and European equities rose on Tuesday following a stronger showing in Asia, where the spotlight fell on the possibility of further policy stimulus in China, although fears over Spain's banks lent a cautious note, according to Reuters.
At the regional markets, Taiwan's Taiex jumped 2.89% to 7,342.29, South Korea's Kospi rose 1.41% to 1,849.91, Hong Kong's Hang Seng Index added 1.35% to 19,055.46, the Shanghai Composite Index rose 1.2% to 2,389.64, Japan's Nikkei 225 added 0.74% to 3,478.29 and Singapore's Straits Times Index rose 0.52% to close at 2,801.85.
On Bursa Malaysia, Takaful rose 45 sen to RM4.40; Dutch Lady added 42 sen to RM32.92; BAT rose 36 sen to RM52.10; S P Setia rose 30 sen to RM4; Tradewinds rose 22 sen to RM8.36; Nestlé and Orient rose 20 sen each to RM53.20 and RM6.45; Tasek and KLCC Property rose 15 sen each to RM8.40 and RM3.62 respectively; Bonia rose 14 sen to RM2.33; Petronas Dagangan rose eight sen to RM20.48; and Petronas Gas rose 10 sen to RM17.54. Among banking stocks, Maybank rose 11 sen to RM8.68; CIMB rose nine sen to RM7.36; Public Bank rose eight sen to RM13.74; and Hong Leong Bank rose six sen to RM12.24.
The actives included Naim Indah Corp, Metronic, Ariantec, OSK, DSC Solutions, SMI and Silver Bird. Decliners included United Plantations, OSK, Ta Ann, Knusford, Bursa, Innoprise, KLK, Encorp, Perduren and Tahps.