KUALA LUMPUR, Aug 18 (Bernama) -- Bursa Malaysia ended higher on Tuesday, outperforming most regional markets as investors continued to rotate towards commodity and plantation-related stocks, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.47 points, or 0.43 per cent, to 1,733.36 compared with Monday’s close of 1,725.89. The benchmark index opened 1.63 points higher at 1,727.52, and fluctuated between 1,723.60 and 1,734.53 throughout the day. On the broader market, losers outpaced gainers 762 to 438, while 576 counters were unchanged, 1,075 untraded and 16 suspended. Turnover expanded to 3.74 billion units valued at RM2.91 billion from 3.45 billion units valued at RM2.74 billion on Monday.
KUALA LUMPUR (Aug 23): The FBM KLCI fell 1.28 points or 0.1% as index-linked AMMB Holdings Bhd and RHB Bank Bhd took centre stage in Malaysian share trades.
Financial services entities AMMB and RHB were in the spotlight after both banks called off their proposed merger. At 5pm, the KLCI closed at 1,772.94 points as investors took profit from AMMB shares' intraday gains.
At 5pm, AMMB shares fell 11 sen to close at RM4.59 after rising to its intraday high at RM4.89. RHB shares rose 19 sen to close at RM5.07 to become Bursa Malaysia's fifth-largest gainer.
Across Bursa Malaysia, two billion shares were traded for RM1.97 billion. A total of 419 counters declined compared to 384 gainers.
Among the KLCI's 30 constituents, AMMB was the top decliner while RHB was the top gainer.
"Without the merger, we are back to eight anchor banking groups with RHB ranking fourth by total assets and AMMB, sixth. We believe both banks will shift their focus back on their strategic plans which have been outlined for the year/financial year," AllianceDBS Research Sdn Bhd wrote in a note today.
Besides AMMB, the KLCI also fell on losses in other banking stocks like CIMB Group Holdings Bhd and Hong Leong Financial Group Bhd.
Areca Capital Sdn Bhd CEO Danny Wong told theedgemarkets.com that although a number of banking counters declined, the impact was not "significant enough to cause a large wave in the market".
Source: The Edge
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