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Banking stocks drive FBM KLCI higher at lunch break

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FBM KLCI,KLCI,Bursa Malaysia

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KUALA LUMPUR: Gains in banking stocks continued to support the key index on Bursa Malaysia to close the morning session on a firm note.

Losers thumped gainers at 530 to 327 while 445 counters were unchanged. Turnover stood at 1.4 billion securities valued at RM1.1bil. Hong Leong Bank gained 14 sen to RM21.24, CIMB climbed one sen to RM8.26 while RHB Bank traded unchanged at RM6.27.Dutch Lady TA Securities said the local market is likely to continue sideways trading as investors cautiously await the tabling of Budget 2025 for clues on the economic direction and its impact on corporations.

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