KUALA LUMPUR: The FBM KLCI marched higher for the third day, putting on 1.39% to its highest in almost four years, as investors piled into blue chip stocks.
Market breadth was negative with 407 securities ending in the red versus 407 that closed higher. Activities were encouraging with 3.95 billion worth RM4.65mil changed hands. Dealers said market optimism was buoyed by strong earnings from banking stocks, which fueled investor confidence and drove the overall rally.
Maybank added 16 sen to RM10.86, Public Bank rose 12 sen to RM4.80, Hong Leong Bank jumped 94 sen to RM21.10 and RHB Bank closed up 24 sen to RM6.16.
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