KUALA LUMPUR (Feb 3): The FBM KLCI rose 11.53 points or 0.68% to 1,685.01 today on a stronger buying interest, especially in plantations and telecommunication stocks, despite the move by China's central bank to tighten monetary policy. Notable gainers also included metal related companies such as Press Metal Bhd and A-Rank Bhd. "Despite the strengthening of monetary policy from People's Bank of China, the FBM KLCI climbed due to (gains in the) telecommunications and plantations sectors," he told theedgemarkets.com when contacted. He noted that the monetary policy move resulted in stocks falling on the Hong Kong and Shanghai markets. The People's Bank of China raised the interest rate on open market operation reverse repurchase agreements (repos) by 10 basis points.

Source: The Edge Markets February 03, 2017 09:45 UTC