KL shares jump to one-month high
Malaysia’s benchmark stock index jumped to a one-month high in early trade on Thursday after the US Federal Reserve stunned markets and decided not to scale back its asset-buying programme just yet.
The index, led by gains in Malaysia’s two largest banks - Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd - was up 1.2 per cent at 1,791.96 points as of 9.02am in Kuala Lumpur. That was its highest level since August 16.
Maybank rose 1.6 per cent and CIMB climbed 1.8 per cent.
Elsewhere, MSCI’s broadest index of Asia Pacific shares outside Japan rose one per cent and Tokyo’s Nikkei share average climbed 1.1 per cent.
"The positive vibes may spill over to our local bourse too," HwangDBS Vickers Research said in a research note to clients.
"Hoping to ride on the positive market momentum today are index laggards like RHB Capital, IOI Corporation, Genting Malaysia and AmBank," it added.
Shares in RHB rose 0.8 per cent, IOI gained 0.6 per cent, Genting Malaysia climbed one per cent and AmBank added 1.5 per cent.-- Reuters