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Public Bank shares climb 4.75 pct on foreign fund inflow
by Cals Fri 30 May 2014, 20:04
| Public Bank shares climb 4.75 pct on foreign fund inflow |
| Business & Markets 2014 |
| Written by Bernama |
| Friday, 30 May 2014 19:57 KUALA LUMPUR (May 30): Public Bank shares climbed 98 sen or 4.75 per cent today, on foreign fund inflow, says Affin Investment Bank Vice-President/Head of Retail Research, Dr Nazri Khan. The stock, which closed at RM21.60, with 108.15 million shares transacted, emerged as one of the most actively-traded counters and the day's top gainer. Nazri said that the rise in Public Bank share price was due to a combination of factors such as foreign fund inflow, due to MSCI Inc portfolio rebalancing. "Public Bank's international shares have been delisted, which means foreign fund will rotate out to the bank's local shares," he told Bernama. Meanwhile, the bank announced in April, that it would undertake a rights issue to raise up to RM5 billion for the purpose of beefing up its capital. Analysts said that Public Bank's Common Equity Tier 1 capital ratio was currently among the lowest in the industry. |
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