CIMB, Maybank, DiGi help KLCI extend rally for fourth day

by **Cals** Fri 13 Sep 2013, 01:06

Published: Thursday September 12, 2013 MYT 5:14:00 PM
Updated: Thursday September 12, 2013 MYT 5:47:58 PM
CIMB, Maybank, DiGi help KLCI extend rally for fourth day

KUALA LUMPUR: Malaysia’s FBM KLCI extended its gains for the fourth day this week, underpinned by mild buying of banks like CIMB and Maybank and telcoDiGi.com but the gains seemed to have narrowed since the start of the week.

Fresh corporate news saw the shares of two companies in the Hong Leong group -- Hong Leong Industries and Narra Industries – posting their best gains in recent weeks.

At 5pm, the KLCI was up 3.92 points or 0.22% to 1,772.40. Turnover was 1.46 billion shares valued at RM1.75bil. There were 417 gainers, 292 losers and 326 counters unchanged.

The ringgit weakened against the US dollar to 3.2773 from the previous close of 3.2634.

Among European markets, tempered expectations over the pace at which the U.S. Federal Reserve will withdraw its stimulus kept many financial markets in check on Thursday, including holding European shares hovering near five year highs, Reuters said.

The waning prospect of an imminent military strike in Syria supported sentiment but traders fear a changing outlook on Fed action could spark some near-term volatility.

At Bursa Malaysia, CIMB Rose eight sen to RM7.58 and pushed the KLCI up 1.38 points while Maybank gained six sen to RM10.12 and pushed the index up 0.91 of a point.
Hong Leong Bank fell six sen to RM14.08 and RHB Capital five sen to RM7.58 whileAmBank shed three sen to RM7.57 and Public Bank eased two sen to RM17.72.

DiGi rose 10 sen to RM4.80 and added 1.32 points to the index while Maxis added seven sen to RM7.05 and Axiata four sen to RM6.88.

Crude palm oil for third month delivery rose RM18 to RM2,351 but this was sharply below Sept 6’s RM2,444. KL Kepong rose 10 sen to RM22.10 and FGV five sen to RM4.29

Aeon rose the most, up 54 sen to RM15.18 while Lafarge added 31 sen to RM9.80. Amwat and Oriental Holdings were 18 sen higher to RM12.16 and RM8.65.

Narra hit limit-up, adding 30 sen to RM1 and HL Industries also gained 30 sen to RM5.70.

Solid Automotive ended eight sen higher to 64 sen with 110.6 million shares done on its first trading when it made its debut on the Main Market.

LFE Corp put up a strong performance, surging 14.5 sen to 27.5 sen with 32.93 million shares done after it reported a strong set of earnings.

Among the key regional markets:

Japan’s Nikkei 225 fell 0.26% to 14,387.27;

Hong Kong’s Hang Seng Index rose 0.07% to 22,953.72;

Shanghai’s Composite Index rose 0.64% to 2,255.60;

Taiwan’s Taiex rose 0.2% to 8,225.36;

South Korea’s Kospi rose 0.01% to 2,004.06 and

Singapore’s Straits Times Index rose 0.4% to 3,122.42.