FBM KLCI rises as reporting period in full swing

KUALA LUMPUR: The FBM KLCI bounced higher on Monday as announcements of corporate results are expected to pick up in the final week of the reporting period.

The main index rose 4.09 points to 1,593.87, fuelled by a rise in plantation stocks.

Malacca Securities Research said it anticipates positive trading activity in the gold and oil and gas sectors given the rising commodity prices.

It added that the the stronger US dollar and the Trump administration’s proposed tariffs are expected to create opportunities in export-oriented sectors such as technology and gloves.

“The construction, property, and building materials sectors also remain supported by data centre investments.

“Lastly, following Sealink’s strong quarterly results, we are optimistic about shipping and aviation companies, alongside the consumer sector, as we approach the festive season,” it said in a note.

Among early gainers, Kuala Lumpur Kepong rose 12 sen to RM21.52 and Sarawak Plantation climbed 11 sen to RM2.43.

Banks were also on the rise, with Hong Leong Bank climbing eight sen to RM20.56, AmBank ganing seven sen to RM5.32 and Maybank adding six sen to RM10.26.

Of actives, CN Asia rose 0.5 sen to eight sen, JCY lost two sne to 34.5 sen and Widad was unchanged at five sen.

This week, traders will shift their focus to key economic events, including the FOMC Meeting Minutes, US Core PCE data, US Q3 GDP and China’s Manufacturing PMI, said Malacca Securities.