KUALA LUMPUR: The FBM KLCI extended its gains for the sixth consecutive day as banking stocks and key blue chips advanced on Friday, March 25 in line with the gains at the regional markets.
RHB Capital was in focus on expectations of suitors for Abu Dhabi Commercial Bank's (ADCB) 25% stake in the local banking group.
At 12.30pm, The FBM KLCI rose 0.20% or 3.03 points to 1,516.87. Volume was 643.24 million shares valued at RM802.29 million. Gainers led losers by 408 to 226, while 284 counters traded unchanged.
The ringgit strengthened 0.07% to 3.0260 versus the US dollar; crude palm oil futures for the third month delivery added RM10 per tonne to RM3,280, crude oil slipped five cents per barrel to US$105.55 while gold gained US$2.28 to US$1,432.93.
Asian stocks rose on Friday amid optimism about upcoming company earnings, and the dollar retreated as investors sold the low yielding currency in favour of riskier assets, according to Reuters.
The Shanghai Composite Index jumped 1.07% to 2,978.14, Hong Kong's Hang Seng Index added 0.93% to 23,127.47, Singapore's Straits Times Index was up 0.91% to 3,070.57, South Korea's Kospi Index rose 0.82% to 2,053.58 and Taiwan's Taiex'' rose 0.56% to 8,624.04. Japan's Nikkei 225 pared down some of its gains from early trade and was up 0.53% to 9,484.93.
The euro steadied despite a political crisis in Portugal that prompted a downgrade from ratings agency S&P and added to concerns over Europe's sovereign debt crisis, it said.
Among banking stocks, RHB Capital rose 23 sen to RM8.26. AMMB nine sen to RM6.45, CIMB four sen to RM8.12 and Maybank two sen to RM8.77.
The Edge FinancialDaily reported that ADCB, which is the single largest foreign shareholder in RHB Cap, had called for a beauty parade among investment banks last week to pitch for an advisory role on the sale of its 25% stake in the local banking group.
Genting and Genting Malaysia added four sen each to RM10.44 and RM3.59, Gamuda and Petronas Chemicals were up five sen each to RM3.84 and RM6.81, while Nestle rose RM1 to RM48.
F&N added 28 sen to RM28 sen to RM15.88, BHIC 21 sen to RM4.15, Panasonic and Shell 20 sen each to RM21.10 and RM11.10, while Bursa rose 14 sen to RM8.23.
PacificMas rose 14 sen to RM4.82 before it was suspended at 11.26am and will resume trading at 2.30pm. It declared dividends totaling RM1.698 for each share for the financial year ending Dec 31, 2011.'' The dividends will go ex on April 7.
Meanwhile, Esso which surged 91 sen to RM4.40 on an article that it was to be taken private denied the report in a filing to Bursa Malaysia Securities on March 25.
'Esso wishes to state that, having made due enquiries, it is not aware of any plans to take Esso private as stated in the above article, it said. It also said there had been no undisclosed developments which would account for the apparent unusual market activity.
Perisai was the most actively traded counter with 33.8 million shares done. The stock was up four sen to 77 sen.
Other actives included HWGB, Media Prima, Nam Fatt, Karambunai, Tanco and CNI.'' Decliners included APM Automotive, Ewein, AIC, Fima Corp and Bonia.
RHB Capital was in focus on expectations of suitors for Abu Dhabi Commercial Bank's (ADCB) 25% stake in the local banking group.
At 12.30pm, The FBM KLCI rose 0.20% or 3.03 points to 1,516.87. Volume was 643.24 million shares valued at RM802.29 million. Gainers led losers by 408 to 226, while 284 counters traded unchanged.
The ringgit strengthened 0.07% to 3.0260 versus the US dollar; crude palm oil futures for the third month delivery added RM10 per tonne to RM3,280, crude oil slipped five cents per barrel to US$105.55 while gold gained US$2.28 to US$1,432.93.
Asian stocks rose on Friday amid optimism about upcoming company earnings, and the dollar retreated as investors sold the low yielding currency in favour of riskier assets, according to Reuters.
The Shanghai Composite Index jumped 1.07% to 2,978.14, Hong Kong's Hang Seng Index added 0.93% to 23,127.47, Singapore's Straits Times Index was up 0.91% to 3,070.57, South Korea's Kospi Index rose 0.82% to 2,053.58 and Taiwan's Taiex'' rose 0.56% to 8,624.04. Japan's Nikkei 225 pared down some of its gains from early trade and was up 0.53% to 9,484.93.
The euro steadied despite a political crisis in Portugal that prompted a downgrade from ratings agency S&P and added to concerns over Europe's sovereign debt crisis, it said.
Among banking stocks, RHB Capital rose 23 sen to RM8.26. AMMB nine sen to RM6.45, CIMB four sen to RM8.12 and Maybank two sen to RM8.77.
The Edge FinancialDaily reported that ADCB, which is the single largest foreign shareholder in RHB Cap, had called for a beauty parade among investment banks last week to pitch for an advisory role on the sale of its 25% stake in the local banking group.
Genting and Genting Malaysia added four sen each to RM10.44 and RM3.59, Gamuda and Petronas Chemicals were up five sen each to RM3.84 and RM6.81, while Nestle rose RM1 to RM48.
F&N added 28 sen to RM28 sen to RM15.88, BHIC 21 sen to RM4.15, Panasonic and Shell 20 sen each to RM21.10 and RM11.10, while Bursa rose 14 sen to RM8.23.
PacificMas rose 14 sen to RM4.82 before it was suspended at 11.26am and will resume trading at 2.30pm. It declared dividends totaling RM1.698 for each share for the financial year ending Dec 31, 2011.'' The dividends will go ex on April 7.
Meanwhile, Esso which surged 91 sen to RM4.40 on an article that it was to be taken private denied the report in a filing to Bursa Malaysia Securities on March 25.
'Esso wishes to state that, having made due enquiries, it is not aware of any plans to take Esso private as stated in the above article, it said. It also said there had been no undisclosed developments which would account for the apparent unusual market activity.
Perisai was the most actively traded counter with 33.8 million shares done. The stock was up four sen to 77 sen.
Other actives included HWGB, Media Prima, Nam Fatt, Karambunai, Tanco and CNI.'' Decliners included APM Automotive, Ewein, AIC, Fima Corp and Bonia.
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