Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 14): The FBM KLCI rose 20.16 points or 1.2%, led by banking shares gain on expectation Bank Negara Malaysia will raise interest rates after the U.S.' rate hike on Wednesday.

At Bursa Malaysia today, the KLCI stood at 1,757.82 points at 3:40pm.

CIMB Investment Bank Bhd analyst Winson Ng said Bank Negara's expected interest rate hike in 2018 will be positive for banks' profit margins.

"We retain our 'Neutral' call on Malaysia banks, given the weak loan growth and the potential rise in loan loss provisioning upon adoption of MFRS (Malaysian Financial Reporting Standards) 9 in 2018F," Ng said.

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