Malaysia Market Highlights - 06 Oct, 2015

Market Highlights

• The Malaysian stocks market jumped in early Tuesday trade, extending its gains for the second day, as investor sentiment firmed up following the strong overnight close FBM KLCI rose 13.56 points or 0.82% to 1,661.15. Turnover was 283.86 million shares valued at RM118.99mil. There were 330 gainers, 79 losers and 177 counters unchanged.

• Malaysian palm oil futures rose on Monday, supported by strong gains in rival oilseed and crude oil prices.

• Mobile virtual network operator XOX Bhd was slapped with an unusual market activity (UMA) query yesterday, following the sudden spike in price and volume of its shares.

• Khazanah Nasional Bhd is not in a hurry to sell its 30% stake in Bank Muamalat Malaysia Bhd, said its managing director Tan Sri Azman Mokhtar.

• Malayan Banking Bhd (Maybank) officially launched its Myanmar operations yesterday and aims to focus on transaction banking, corporate lending and treasury services as part of its objective to establish itself as a leading cross-border bank in the country.

• OCK Group Bhd is looking to boost its recurring income in the next three years by acquiring and building new greenfield telecommunications infrastructure, inclusive of towers and sites, to lease to telecom operators in the Asean region.

• CIMB Equities Research has cautioned that UMW Toyota’s proposal to raise the prices of all its Toyota and Lexus vehicles by 4% to 16% effective January next year could impact sales.