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apple developer account:KLCI rises for fourth day as banks sustain advance

admin2021-04-2099

KUALA LUMPUR: The FBM KLCI advanced for a fourth straight day as financial stocks continued to put on weight on follow-through buying support.At 12.30pm the key index was up 6.98 points to 1,653.51 as Public Bank rose another 18 sen to a 17-month high of RM20.04.Fellow financial heavyweight Maybank was also up four sen to RM8.42 while CIMB added 14 sen to RM4.19Given the FBM KLCI's rally, there are expectations that the market could retreat on profit-taking as investors digest the gains."The FBM KLCI may be slightly overbought after the gap-up formation yesterday. Hence, the key index may be due for a mild pullback as healthcare stocks may drag the index today," said Malacca Securities Research.Hartalega shed 28 sen to RM14.38 although Top Glove rose 14 sen to RM6.98 on the back of its positive earnings announcement yesterday.Meanwhile, among the lower liners Tasco powered higher by 23 sen to RM3.08, hitting a fresh historical high on the back of its tie-up with GD Express Carrier.AirAsia X was one of the most actively traded counters, gaining 0.5 sen to nine sen amid an expected reversal in the airline's fortunes.Other top traded stocks included XOX unchanged at 11 sen and Trive flat at 1.5 sen.In Asian markets, equities prices eased amid stalled US stimulus talks while a fall in tech stocks on Wall Street raised fears of an impending correction.Japan's Nikkei fell 0.1% while South Korea's Kospi sipped 0.4%>China's composite index rose 0.25% and Hong Kong's Hang Seng was down 0.5%. In Australia, the ASX 200 dropped 0.4%.
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