MALAYSIA'S Kuala Lumpur Composite Index rose 11.63, or 1.3 per cent, to close at 884.18, the biggest gain in a week.
Four stocks advanced for each that dropped on the 100-member
measure. April index futures climbed 0.6 per cent to 881.00
The Finance Index added 142.5 points to 6,684.08, the Industrial Index increased 9.72 points to 2,109.91 and the Plantation Index rose 58.34 points to 4,546.08.
Of the FTSE-BM Index series, the FBMEmas appreciated 82.07 points to 5,783.2, the FBM30 increased 88.61 points to 5,687.1 and the FBM2BRD added 28.78 points to 3,901.16 and the FBM-MDQ advanced 56.29 points to 2,998.96.
Malayan Banking Bhd led banks higher after the central bank said late yesterday that loan applications in Malaysia rose 4.8 per cent in February, the first monthly gain in six months.
Maybank, as the biggest lender is known, jumped 5.2 per cent to RM4.06, the highest level in a week. Bumiputra-Commerce Holdings Bhd added 2.2 per cent to RM7, the first gain in three days.
The two stocks accounted for almost a third of the benchmark Composite Index’s advance.
IOI Corp, Malaysia’s second- biggest palm-oil producer, rose 2.6 per cent to RM3.90, the most in a week.
Sime Darby Bhd gained 0.9 per cent to RM5.75. Palm oil futures in Malaysia rose 1.9 per cent today, its second day of gains.
AirAsia Bhd, Southeast Asia’s largest low-cost airline, climbed 3.2 per cent to 97 sen, the steepest increase since February 13, after Goldman Sachs Group Inc raised its rating on the stock to “neutral” from “sell.”
Axiata Group Bhd, the Malaysian mobile-phone company formerly known as TM International Bhd, rose 5.8 per cent to RM2.39, the most since March 23.
The company said today it repaid RM2 billion to Telekom Malaysia Bhd. Axiata will repay the remaining RM2 billion owed to Telekom by the end of April, it said in a statement.
Telekom, the biggest Malaysian fixed-line operator, gained 1.1 per cent to RM3.56.
IJM Corp, Malaysia’s third-biggest builder, advanced 2.9 per cent to RM4.30, the highest level since October 14 after Credit Suisse Group said the company may clinch at least another RM1.2 billion of new construction orders in the coming months.
Its target price was raised to RM5.08 from RM4.95, Credit Suisse said in a report today.
WCT Bhd gained 3.7 per cent to RM1.12, the most since March 26.
The builder plans to win construction and development projects valued at RM1 billion this year in Malaysia and the Middle East, state news service Bernama reported.
The company is bidding for projects in Abu Dhabi and Oman, Bernama said, citing WCT’s regional general manager for the Middle East, Elina Abdul Aziz. - Bloomberg/Bernama
Four stocks advanced for each that dropped on the 100-member
measure. April index futures climbed 0.6 per cent to 881.00
The Finance Index added 142.5 points to 6,684.08, the Industrial Index increased 9.72 points to 2,109.91 and the Plantation Index rose 58.34 points to 4,546.08.
Of the FTSE-BM Index series, the FBMEmas appreciated 82.07 points to 5,783.2, the FBM30 increased 88.61 points to 5,687.1 and the FBM2BRD added 28.78 points to 3,901.16 and the FBM-MDQ advanced 56.29 points to 2,998.96.
Malayan Banking Bhd led banks higher after the central bank said late yesterday that loan applications in Malaysia rose 4.8 per cent in February, the first monthly gain in six months.
Maybank, as the biggest lender is known, jumped 5.2 per cent to RM4.06, the highest level in a week. Bumiputra-Commerce Holdings Bhd added 2.2 per cent to RM7, the first gain in three days.
The two stocks accounted for almost a third of the benchmark Composite Index’s advance.
IOI Corp, Malaysia’s second- biggest palm-oil producer, rose 2.6 per cent to RM3.90, the most in a week.
Sime Darby Bhd gained 0.9 per cent to RM5.75. Palm oil futures in Malaysia rose 1.9 per cent today, its second day of gains.
AirAsia Bhd, Southeast Asia’s largest low-cost airline, climbed 3.2 per cent to 97 sen, the steepest increase since February 13, after Goldman Sachs Group Inc raised its rating on the stock to “neutral” from “sell.”
Axiata Group Bhd, the Malaysian mobile-phone company formerly known as TM International Bhd, rose 5.8 per cent to RM2.39, the most since March 23.
The company said today it repaid RM2 billion to Telekom Malaysia Bhd. Axiata will repay the remaining RM2 billion owed to Telekom by the end of April, it said in a statement.
Telekom, the biggest Malaysian fixed-line operator, gained 1.1 per cent to RM3.56.
IJM Corp, Malaysia’s third-biggest builder, advanced 2.9 per cent to RM4.30, the highest level since October 14 after Credit Suisse Group said the company may clinch at least another RM1.2 billion of new construction orders in the coming months.
Its target price was raised to RM5.08 from RM4.95, Credit Suisse said in a report today.
WCT Bhd gained 3.7 per cent to RM1.12, the most since March 26.
The builder plans to win construction and development projects valued at RM1 billion this year in Malaysia and the Middle East, state news service Bernama reported.
The company is bidding for projects in Abu Dhabi and Oman, Bernama said, citing WCT’s regional general manager for the Middle East, Elina Abdul Aziz. - Bloomberg/Bernama
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