KUALA LUMPUR (Dec 3): Financial services counters Hong Leong Financial Group Bhd (HLFG) and Public Bank Bhd were among the top gainers on the local bourse in the mid-morning today.
As of 10.03am, shares in HLFG and Public Bank were leading the charge among banking stocks on Bursa Malaysia, with the two being the sixth and eighth top gainers respectively.
HLFG was up by 1.56% or 26 sen at RM16.92, valuing it at RM19.42 billion. It saw a trading volume of 40,000 shares.
Meanwhile, Public Bank was up by 0.89% or 16 sen higher at RM18.10, yielding a market capitalisation RM70.27 billion.
It is worth noting that HLFG and Public Bank are not the only banking stocks to have seen gains so far today. For example, Hong Leong Bank Bhd (HLB) was up by 0.77% or 14 sen at RM18.26, translating into a market capitalisation of RM39.58 billion. It was the 11th top gainer as at the time of writing.
Other banks such as Affin Bank Bhd, Alliance Bank Malaysia Bhd and RHB Bank Bhd also saw gains.
Affin was up by 3.15% or five sen at RM1.64 and Alliance Bank was 0.76% or two sen higher at RM2.66, while RHB stood at RM5.36, rising by 0.38% or two sen.
CIMB Group Holdings Bhd was up by 1.06% or four sen at RM3.83, whereas Malayan Banking Bhd (Maybank) was unchanged at RM8.27 a piece.
The Financial Services Index, which counts banks as its constituents, was 0.68% or 96.99 points higher at 14,392.57 as at the time of writing. The broader FBM KLCI, which counts many banks as its constituents, was up by 0.8% or 12.81 points at 1,611.53.
The more upbeat performance among banks, as well as blue-chip counters a whole, followed US markets which reached another record high last night, while the UK's FTSE 100 Index climbed after it approved Pfizer’s Covid-19 vaccine, the first country in the world to do so.