Asian Stock Indices Extend Rebound While KLCI, Laggard Among the Peers

Kuala Lumpur, June 24 – Bursa Malaysia closed slightly higher on Friday as the bell-weathered index marginally inched up by a mere 0.39%, a laggard as compared to the regional equities stock markets. The May CPI was released this afternoon, up 2.8%. The increase in the inflation was largely due to hike in food’s price, 5.2%. Asian equities markets all closed in euphorically higher, with the South Korea’s Kospi led the pack by surging 2.26%. Followed by Hong Kong’s HSI, surged 2.09%. Meanwhile, Australia’s All Ordinaries and Japan’s Nikkei 225 also increased by 1.06% and 1.23% respectively. The US banks are reported to have aced their stress test with their solid Capital Adequacy Ratio (CAR) and lower non-performing assets (NPA) ratios. The sound financials of the banks have sent relief and hope to the market participants. A sturdy condition of the banking system in the US economy is sufficient to bolster the sentiment of the investors.

** The FTSE BM KLCI inched up 5.65 points or +0.39 % at 1,436.70.

** The FTSE BM KLCI opened at 1,431.30. The index fluctuated between 1,431.30– 1,440.73.

** 519 counters are gainers, 405 counters are unchanged, while 345 counters are losers.

** Total volume of 2,468,848,000 shares changed hands; while Turnover of RM 1,478,841,324

** The Top 5 Gainers: MPI (28.00, +0.80) ; F&N (20.58, +0.64) ; HEIM (24.28, +0.38) ; UTDPLT (14.30, +0.28) ; UWC (3.44, +0.27)

** The Top 5 Losers: KLK (22.38, -0.46) ; BOXPAK (1.00, -0.30) ; HLBANK (20.16, -0.24) ; BAT (11.00, -0.20) ; NESTLE (132.60, -0.20)

** The Top 5 Most Active Stocks: REACH (0.085, +0.03) ; HSI-HA8 (0.08, -0.095) ; DNEX (0.765, +0.01); HSI-CQW (0.275, +0.06) ; HIBISCS (0.905, -0.03)

** Singapore’s Straits Times Index (STI) crept up 21.20 points or +0.69% to 3,114.00; Hong Kong’s HSI surged 445.19 points or +2.09% at 21,719.06 ;  Japan’s Nikkei 225 climbed 320.72 points or +1.23% at 26,491.97 ; Korea’s Kospi Index up 52.28 points or +2.26% at 2,366.60 ; Shanghai’s SSE Index rose 29.60 points or +0.89% at 3,349.75 ; Australia’s All Ordinaries index up 71 points or +1.06% at 6,762.40.

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