FBM KLCI pushes past 1,600
KUALA LUMPUR: Malaysia's benchmark stock index continued to ride the positive momentum higher as foreign funds returned amid expectations of a dovish US central bank response to recent economic data.

As trading paused for the end of the early session, the FBM KLCI had tacked on 11.97 points or 0.75% to 1,609.36 on gains in all 30 constituent stocks.

Bank stocks were seen soaring, with Hong Leong Bank adding 48 sen to RM19.82, CIMB jumping 12 sen to RM6.87, RHB adding one sen to RM5.49, Public Bank gaining two sen to RM4.22 and Maybank rising two sen to RM9.85.

Press Metal rose 15 sen to RM5.48 while PETRONAS Dagangan added 16 sen to RM21.82 and IOI gained six sen to RM4.09.

Among the local brewers, Carlsberg climbed 74 sen to RM19.44 while Heineken Malaysia rose 46 sen to RM23.78.

Top actives were Ingenieur down 0.5 sen to 10.5 sen, Iconic up one sen to 12.5 sen and Capital A surging seven sen to 91 sen.

Regional stock markets have been on an upward trajectory following last week's US jobs data, which indicated that the labour market was feeling the effects of the Federal Reserve's tightening measures.

Japan's Nikkei rose 1.35% to 38,752 and Singapore's Straits Times Index gained 0.1% to 3,305.

In Hong Kong, the Hang Seng slid 0.85% to 18,420 while the Shanghai Composite Index dipped 0.1% to 3,136 as the Chinese markets saw profit-taking after the previous day's gains.
Markets,Bursa Malaysia,FBM KLCI,equities,trading,investor,commodity,stocks
KUALA LUMPUR: Malaysia's benchmark stock index continued to ride the positive momentum higher as foreign funds returned amid expectations of a dovish US central bank response to recent economic data.