KUALA LUMPUR: Key Asian markets rallied in the morning session on Monday, June 21, while the ringgit advanced after China promised to allow the yuan to trade more flexibly.
At 12.30pm, the FBM KLCI rose 14.66 points or 1.17% to 1,332.35, the highest since May 17. Turnover was 420.27 million shares valued at RM699 million. Gainers beat losers 481 to 138 while 177 stocks were unchanged.
The Nikkei 225 rose 2.16% to 10,211.09. Hang Seng Index 2.84% higher at 20,863.18 and Shanghai's Composite Index gained 1.96% to 2,562.36 and Singapore's Straits Times Index rose 1.64% to 2,879.81.
Light crude oil rallied US$1.46 to US$78.64 while crude palm oil futures added RM5 to RM2,405. Bloomberg reported that Malaysia's palm oil exports rose 17% in the first 20 days of June, underpinned by strong demand from China.
The report quoted independent market surveyor Intertek as saying 906.321 tonnes were tracked on June 1 to 20 compared with 775,995 tonnes in the same period in May.
The ringgit strengthened to 3.1945 against the greenback from the 3.2510 last Friday. The yuan was trading at 6.8129 versus the US dollar after the Chinese central bank set its daily reference rate at 6.8275 per dollar, unchanged from its reference point on Friday.
A stronger ringgit would spur the entry of foreign money into Malaysian equities. This would be on expectations of price appreciation of equities and gains from a stronger ringgit.
Among the 30-stock FBM KLCI, Public Bank rose 28 sen to RM11.92, pushing the index up 3.21 points while CIMB added 15 sen to RM7.10 and Maybank gained 12 sen to RM7.64, pushing the index up by 2.58 points and 2.07 points respectively.
Among PLANTATION []s, Sime added 13 sen to RM8.11, nudging the index up 1.9 points while Far East added 30 sen to RM6.70, KL Kepong 30 sen also to RM16.40, United Plantations'' 20 sen to RM14.50 and IOI Corp four sen to RM5.08.
Top Glove rose 28 sen to RM13.20 while IRCB was the most active with 14 million shares done, rising five sen to 79.5 sen. Other gainers were DiGi, up 24 sen to RM23.36 and Pos Malaysia 23 sen to RM3.09.
Tenaga fell 21 sen to RM8.59, on some profit taking with 2.59 million shares done. BToto gave up six sen to RM4.37.'' Nestle lost six sen to RM34.44.
At 12.30pm, the FBM KLCI rose 14.66 points or 1.17% to 1,332.35, the highest since May 17. Turnover was 420.27 million shares valued at RM699 million. Gainers beat losers 481 to 138 while 177 stocks were unchanged.
The Nikkei 225 rose 2.16% to 10,211.09. Hang Seng Index 2.84% higher at 20,863.18 and Shanghai's Composite Index gained 1.96% to 2,562.36 and Singapore's Straits Times Index rose 1.64% to 2,879.81.
Light crude oil rallied US$1.46 to US$78.64 while crude palm oil futures added RM5 to RM2,405. Bloomberg reported that Malaysia's palm oil exports rose 17% in the first 20 days of June, underpinned by strong demand from China.
The report quoted independent market surveyor Intertek as saying 906.321 tonnes were tracked on June 1 to 20 compared with 775,995 tonnes in the same period in May.
The ringgit strengthened to 3.1945 against the greenback from the 3.2510 last Friday. The yuan was trading at 6.8129 versus the US dollar after the Chinese central bank set its daily reference rate at 6.8275 per dollar, unchanged from its reference point on Friday.
A stronger ringgit would spur the entry of foreign money into Malaysian equities. This would be on expectations of price appreciation of equities and gains from a stronger ringgit.
Among the 30-stock FBM KLCI, Public Bank rose 28 sen to RM11.92, pushing the index up 3.21 points while CIMB added 15 sen to RM7.10 and Maybank gained 12 sen to RM7.64, pushing the index up by 2.58 points and 2.07 points respectively.
Among PLANTATION []s, Sime added 13 sen to RM8.11, nudging the index up 1.9 points while Far East added 30 sen to RM6.70, KL Kepong 30 sen also to RM16.40, United Plantations'' 20 sen to RM14.50 and IOI Corp four sen to RM5.08.
Top Glove rose 28 sen to RM13.20 while IRCB was the most active with 14 million shares done, rising five sen to 79.5 sen. Other gainers were DiGi, up 24 sen to RM23.36 and Pos Malaysia 23 sen to RM3.09.
Tenaga fell 21 sen to RM8.59, on some profit taking with 2.59 million shares done. BToto gave up six sen to RM4.37.'' Nestle lost six sen to RM34.44.
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