Translate This Page

Search This Blog


Friday, November 27, 2015

Market Daily Report [26 Nov 2015]

After the index's advance in the last few days, we see the FBM KLCI fell 1.33 points or 0.1% as investors locked in gains. 

The FBM KLCI index lost 1.33 points or 0.08% on Thursday. The Finance Index increased 0.05% to 14138.02 points, the Properties Index up 0.06% to 1193.05 points and the Plantation Index down 0.09% to 7513.83 points. The market traded within a range of 14.12 points between an intra-day high of 1688.79 and a low of 1674.67 during the session.

Malaysian shares rose in recent days on news 1Malaysia Development Bhd (1MDB) was selling its power assets to China General Nuclear Power Corp, instead of Tenaga Nasional Bhd ( Valuation: 1.20, Fundamental: 1.30).

Investors could have perceived such updates as good news for Tenaga, amid concerns Tenaga might overpay for state-owned 1MDB's power assets to bailout the company.

However, as the news passed, the market sensed a lack of catalysts exciting the share market.

Exports based companies are closely watched as as these firms are seen as beneficiaries of a weaker ringgit against the US dollar.

At 5pm, the ringgit weakened to 4.2218 against the US dollar.
Bursa Malaysia ended the day with 2.33 billion shares, valued at RM1.97 billion transacted.

Top gainers included Ajinomoto (M) Bhd and Chee Wah Corp Bhd. 

Ajinomoto (M) Bhd lead the top gainer for the day
Top losers were Nestle (M) Bhd and Malaysian Pacific Industries Bhd.

Nestle (M) Bhd lost RM1.48 as of closing
The top active counter was Borneo Oil Bhd.

Across the region, Japan’s Nikkei 225 was up 0.49%, while South Korea’s Kospi rose 1.06%

Reuters reported Asian shares advanced on Thursday, while the euro remained under pressure on growing bets the European Central Bank will roll out more stimulus soon, even as the U.S. Federal Reserve looks set to raise interest rates.


Wednesday, November 25, 2015

Wall Street ends higher on global tension

Wall Street ends higher on Tuesday as energy stock rose along with oil prices after Turkey shot down a Russian warplane near the Syrian border.

The three major U.S. indexes recovered from a morning selloff that was triggered by the overseas news despite some strong U.S. economic data.

Relatively light trading appeared to exaggerate swings in the market, according to Frankel, as many market participants were away ahead of the U.S. Thanksgiving holiday. Markets will be closed all day Thursday and close early Friday.

The Dow Jones industrial average rose 19.51 points, or 0.11 percent, to 17,812.19, the S&P 500 gained 2.55 points, or 0.12 percent, to 2,089.14 and the Nasdaq Composite added 0.33 points, or 0.01 percent, to 5,102.81.

Investors steered clear of many of Nasdaq's higher-valuation stocks like Netflix and instead took safety in cheaper stocks due to geopolitical concerns, according to J.J. Feldman, portfolio manager at Los Angeles-based Miracle Mile Advisors.

The U.S. economy grew at a 2.1 percent pace in the third-quarter, compared with an earlier estimate of 1.5 percent, data showed, but consumer sentiment in November was the weakest since September 2014 ahead of the crucial holiday shopping season.

Advancing issues outnumbered declining ones on the NYSE by 1,893 to 1,162, for a 1.63-to-1 ratio on the upside; on the Nasdaq, 1,659 issues rose and 1,121 fell for a 1.48-to-1 ratio favoring advancers.

The S&P 500 posted 9 new 52-week highs and 8 new lows; the Nasdaq recorded 63 new highs and 74 new lows.

About 6.9 billion shares changed hands on U.S. exchanges below the 7.2 billion average for the last 20 sessions, according to Reuters data.

Source: The Edge Markets


My Other Blogs

Related Posts with Thumbnails

You are visitor Website Hit Counter since Dec 10th 2007