Bank shares help Bursa Malaysia benchmark gain 0.59 per cent
The FBM KLCI finished at 1,618.01 on October 12, although declining stocks outnumbered advances across the broader market.
Malaysia’s benchmark share index ended October 12 up 9.56 points at 1,618.01, a gain of 0.59 per cent, as bargain hunting lifted banking counters. Budget 2027 measures covering SME lending, housing finance and investment-driven credit growth supported the sector.
Maybank closed at RM9.95 after gaining 14 sen, while Public Bank finished nine sen higher at RM4.66. CIMB advanced four sen, reaching RM7.30. The Financial Services Index gained 169.31 points and ended at 18,594.13.
The wider market was weaker: 778 stocks declined and 344 advanced, with another 520 unchanged. Trading involved 3.36 billion units valued at RM2.91 billion, against Friday’s 3.33 billion units and RM2.90 billion.
Thong Pak Leng, vice-president of equity research at Rakuten Trade Sdn Bhd, told Bernama that Budget 2027 had made policy direction clearer, helping investors assess sector prospects. He said its focus on infrastructure, investment and domestic consumption should underpin sentiment, although benefits could take time to emerge. Foreign selling, high bond yields and geopolitical uncertainty could constrain gains, he added.
Among other heavyweights, Tenaga Nasional gained 16 sen, closing at RM13.04, while IHH Healthcare remained at RM7.90. Genting Malaysia fell 26 sen and finished at RM1.23. Its shares reached limit down, leading Bursa Malaysia to suspend intraday short-selling after the decline exceeded 15 per cent or 15 sen relative to the reference price.
