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Lenders lead Malaysian shares higher, Singapore near flat

SINGAPORE (NewsRise) -- Malaysian shares rose to over 10-month highs Monday, helped by buying in financial stocks, even as mounting expectations of an imminent Federal Reserve rate increase muted regional sentiment. Singapore stocks ended little changed.

The FTSE Bursa Malaysia KLCI advanced 1.1% to 1,727.36, its best single-session advance in a year. CIMB Group Holdings jumped 4.6% to 5.46 ringgit, extending last week's near 3% rally and leading broad gains on the index. Hong Leong Financial Group and its commercial banking arm Hong Leong Bank rose 2.4% and 1%, respectively. The nation's largest lender Malayan Banking added 1% to 8.82 ringgit. AMMB Holdings was one of two index stocks to end lower, slipping 0.2% to 4.90 ringgit.

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