As of 9.38am in Kuala Lumpur, Lion Industries Corp, a steelmaker, climbed 1.5 per cent to RM1.39, bound for its biggest gain since April 10. The stock was rated new strong buy at ECM Libra Financial Group Bhd, which said the company will benefit from growth in the country's construction and property industries this year.

The brokerage has a share price estimate of RM2.16 for the stock, Benjamin Lee, an analyst at ECM, wrote in a report today. A strong buy means the stock is expected to generate a 12-month total return including dividends of at least 30 percent, according to the report. -- Bloomberg