Malaysia’s Kuala Lumpur Composite Index rose for a fifth day, gaining 2.97, or 0.3 per cent, to close at 956.68, the highest level since Oct 14. Almost two stocks gained for each that fell on the 100-member measure.
In the market, 1.56 billion shares changed hands, more than triple the three-month daily average of 479 million shares. It’s the busiest trading session since Jan 22, 2008.
April index futures lost 0.2 per cent to 960.
Malayan Banking Bhd , the country’s largest bank, jumped the most since April 1, rising 4.4 per cent to RM4.32. EON Capital Bhd also climbed 4.4 per cent, advancing to RM3.30, its highest level since Feb 16.
Malaysian central bank governor Zeti Akhtar Aziz said today there is no need to raise the minimum capital requirements for banks. Banks will also be able to “absorb” any increase in bad loans which are at a “historical low.”
AirAsia Bhd, Southeast Asia’s biggest budget carrier, advanced 3.3 per cent to RM1.24, the highest level since Oct 9. Singapore’s Transport Ministry said late yesterday that an air services agreement with Malaysia had been expanded, enabling carriers of both countries to operate between the city-state and six more destinations in Malaysia.
Axiata Group Bhd’s rights shares traded at 56 sen in their debut, within the range of 47 sen and 56 sen estimated by OSK Research Sdn. The range is a “decent entry” for new investors while existing shareholders would be “better off taking up the rights,” OSK said in a report today. Axiata raised RM5.25 billion (US$1.4 billion) in the rights offer. Shares of Axiata were unchanged at RM1.77.
Public Bank Bhd dropped 1.2 per cent to RM8.35, the steepest slide in a week. Malaysia’s third-biggest bank said first-quarter profit fell 18 per cent to RM589.3 million from a year earlier because of higher operating expenses and declining income from its fund management and brokerage business. It also had a one-off goodwill payment of RM200 million in the year earlier period that wasn’t repeated, it said in a statement. - Bloomberg
In the market, 1.56 billion shares changed hands, more than triple the three-month daily average of 479 million shares. It’s the busiest trading session since Jan 22, 2008.
April index futures lost 0.2 per cent to 960.
Malayan Banking Bhd , the country’s largest bank, jumped the most since April 1, rising 4.4 per cent to RM4.32. EON Capital Bhd also climbed 4.4 per cent, advancing to RM3.30, its highest level since Feb 16.
Malaysian central bank governor Zeti Akhtar Aziz said today there is no need to raise the minimum capital requirements for banks. Banks will also be able to “absorb” any increase in bad loans which are at a “historical low.”
AirAsia Bhd, Southeast Asia’s biggest budget carrier, advanced 3.3 per cent to RM1.24, the highest level since Oct 9. Singapore’s Transport Ministry said late yesterday that an air services agreement with Malaysia had been expanded, enabling carriers of both countries to operate between the city-state and six more destinations in Malaysia.
Axiata Group Bhd’s rights shares traded at 56 sen in their debut, within the range of 47 sen and 56 sen estimated by OSK Research Sdn. The range is a “decent entry” for new investors while existing shareholders would be “better off taking up the rights,” OSK said in a report today. Axiata raised RM5.25 billion (US$1.4 billion) in the rights offer. Shares of Axiata were unchanged at RM1.77.
Public Bank Bhd dropped 1.2 per cent to RM8.35, the steepest slide in a week. Malaysia’s third-biggest bank said first-quarter profit fell 18 per cent to RM589.3 million from a year earlier because of higher operating expenses and declining income from its fund management and brokerage business. It also had a one-off goodwill payment of RM200 million in the year earlier period that wasn’t repeated, it said in a statement. - Bloomberg
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