Top three bank stocks lift Bursa Malaysia to a new high

(Kuala Lumpur, 27th) Asian equity markets ended mostly higher today, while the Malaysian stock market extended its rally for a fifth consecutive session, supported by strong performances in blue-chip stocks. The FTSE Bursa Malaysia KLCI closed at 1,771.25 points, up 27.18 points or 1.56%, marking its highest level since October 9, 2018.

The benchmark index opened at 1,749.25 points and maintained an upward trend throughout the trading day, with gains accelerating toward the close to finish at its intraday high.

Total market volume reached 3.62 billion shares, with a total trading value of RM4.48 billion.

Gainers among KLCI constituents continued to underpin the market, led primarily by banking stocks. Hong Leong Bank, CIMB Group, and Malayan Banking were among the top ten gainers of the day.

Hong Leong Bank rose 58 sen or 2.37% to RM25.08, making it the second-biggest gainer. CIMB advanced 33 sen or 3.83% to RM8.95, ranking fourth, while Maybank gained 26 sen or 2.26% to RM11.76, placing eighth.

As a result, the financial services index surged 516.43 points or 2.44% to 21,713.66, emerging as the best-performing sector index of the day.

Meanwhile, the industrial and property indices also recorded gains of more than 1%. The industrial index rose 2.65 points or 1.49% to 179.93, while the property index climbed 16.98 points or 1.47% to 1,173.34.

In contrast, the transportation and logistics index declined 9.78 points or 0.95% to 1,021.96, making it the weakest-performing sector.

On the individual stock front, One Gasmaster Holdings made its debut on the ACE Market but suffered a disappointing first trading day. The stock opened lower at 23.5 sen and trended downward throughout the session. Despite a brief rebound, selling pressure returned late in the day, with the stock closing at 20 sen—20% or 5 sen below its IPO price of 25 sen.