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KUALA LUMPUR (Nov 6): Bursa Malaysia ended the first trading day of the week on a positive tone, with the benchmark index rising 1.02% to ...
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Wednesday, August 30, 2017
Market Daily Report: KLCI gets 11th hour boost from CIMB, MISC, ahead of long holiday weekend
KUALA LUMPUR (Aug 30): The FBM KLCI ended today's trade 12.02 points or 0.68% higher, after getting 11th hour boost from index-linked CIMB Group Holdings Bhd and MISC Bhd.
The last minute push from CIMB and MISC was due to investors who were on the hunt for good stocks, according to Hong Leong Investment Bank Bhd's retail research analyst Loui Low Ley Yee.
"In a way, the last minute boost was also part of the bourse's 'window-dressing' activity, marking a nice end to August's subdued and sideways trade as investors digest the corporate earnings announcement, which are either in-line or disappoints," Low told theedgemarkets.com in a brief telephone conversation.
At 5pm today, the FBM KLCI closed at 1,773.16 points, from a previous close of 1,761.14 points on Tuesday.
Some 1.83 billion shares, worth RM2.21 billion, were traded at the local bourse today, with gainers outpacing decliners at 449 counters versus 346 counters, while 411 stocks closed unchanged.
Gainers were led by Time dotCom Bhd, UMW Holdings Bhd and CIMB, while Ajinomoto (Malaysia) Bhd was the top decliner.
Sino Hua-An International Bhd was the most active stock, with 217.34 million shares — equivalent to 19.37% of its outstanding shares — traded today.
Japanese shares, on average, recovered all of the previous day's loss, helped by Wall Street's rise and a weaker yen, as worries sparked by North Korea firing a missile over Japan receded, according to Reuters.
The Nikkei, which hit a four-month low on Tuesday and settled 0.5% lower, climbed 0.7% to 19,506.54. Similarly, South Korea's Kospi erased all its 0.2% retreat from Tuesday and closed 0.3% higher as domestic institutions' buying offset foreign selling.
Meanwhile, Hong Kong's Hang Seng index rose 1.2% to 28,094.61 — passing the 28,000 mark for the first time since May 2015 — helped by easing geopolitical tensions and signs that mainland money has continued to flow steadily into the city's bourse, the news agency wrote.
Source: The Edge
Tuesday, August 29, 2017
Market Daily Report: FBM KLCI struggles to stay above 1,770 level
KUALA LUMPUR (Aug 29): The FBM KLCI struggled to remain above the 1,770 level today amid selling pressure, and an analyst said the benchmark index may see further declines moving forward.
The KLCI closed the day 8.35 points or 0.47% lower at 1,761.14.
TA Securities Holdings Bhd senior technical analyst Stephen Soo said the KLCI could come down further, to even hit April's low of 1,729 points, but sees this as a "blessing in disguise" for non-blue chips.
"The FBM KLCI evidently struggles to remain above the 1,770 level and it is evident that selling pressures are still there with trading volume being thin today. I believe the index could go down to July's low of 1,750 points or lower to April's low," Soo told theedgemarkets.com.
"But I see this is a blessing in disguise. When the index falls low, it becomes more attractive for the smaller players to come in at a time when the bigger counters, particularly in the banking sector, are under pressure," he added.
On the broader market, about 1.46 billion shares valued at RM1.83 billion changed hands today. Losers outpaced gainers at 570 against 269, while 394 counters traded unchanged.
Among the top gainers for the day were Hengyuan Refining Company Bhd, Heineken Malaysia Bhd and Petron Malaysia Refining & Marketing Bhd, while top losers were Malaysian Pacific Industries Bhd, AEON Credit Service (M) Bhd and Petronas Gas Bhd.
World stocks plunged while safe-haven assets jumped today after North Korea fired a missile over northern Japan, igniting concern over further tension between the US and North Korea, Reuters reported.
Japan's Nikkei hit a four-month low before paring losses to settle 0.5% lower, while South Korea's Kospi was down 0.23%.
North Korea launched a missile over Japan and landed in the Pacific about 1,180km off the northern region of Hokkaido in a sharp escalation of tensions on the Korean peninsula.
Source: The Edge
Monday, August 28, 2017
Market Daily Report: KLCI up marginally on last minute buys of select heavyweights
KUALA LUMPUR (Aug 28): The FBM KLCI inched up 0.32 points or 0.02% to settle at 1,769.49 today, on the back of last minute buying of selective index heavyweights, which sent the KLCI marginally higher.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the benchmark index was in a tight range today, after being dragged by the refinery sector earlier in the day, like Hengyuan Refining Company Bhd and Petron Malaysia Refining & Marketing Bhd.
Consumer products also weighed on the index, such as Ajinomoto (M) Bhd and Dutch Lady Milk Industries Bhd.
"There was last minute buying from investors on selective index heavyweights, which sent the KLCI marginally higher in the last minutes before trading ended," he said.
Among them were Westports Holdings Bhd, CIMB Group Holdings Bhd, and Malayan Banking Bhd.
Nevertheless, he said the KLCI remained sluggish in the final hour of trading, despite hovering in the positive territory, due mainly to profit-taking ahead of the extended weekend break.
"In the refinery sector, both Hengyuan and Petron have seen selling pressure. Hengyuan was the top loser after weaker-than-expected corporate earnings," he told theedgemarkets.com.
At market close, there were 557 declining counters versus 278 advancers, while 369 were unchanged. Across Bursa Malaysia, a total of 1.78 billion shares worth RM1.65 billion were traded.
Across Asia, Japan's Nikkei 225 slid 0.01%, while South Korea's Kospi fell 0.35%; Hong Kong's Hang Seng climbed 0.05%.
Reuters reported that Japanese stocks ended flat in thin trades on Monday, as investors assessed the impact of a weaker US dollar after the greenback came under pressure after Federal Reserve chair Janet Yellen made no reference to monetary policy at the central bank's annual conference in Jackson Hole, Wyoming, while casualty insurers fell on worries about the impact of the tropical storm Harvey.
The Nikkei share average was flat at 19,449.90, after logging its sixth straight weekly fall on Friday for its longest losing streak since January 2014, the news wire noted.
The broader Topix rose 0.2% to 1,600.12, but turnover was only at 1.74 trillion yen; a level below 2 trillion yen is considered thin.
"Investors are waiting for more catalysts, and they will likely refrain from taking large positions until important economic indications come out this week," said Chihiro Ohta, general manager of investment research at SMBC Nikko Securities.
Source: The Edge
Sunday, August 27, 2017
The Market Is High. Beware of Portfolio Drift.
Invest at the bottom of the market and sell at the top. That’s solid advice, but it’s not easy to follow.
Consider the stock market right now, for example. Is this the top of the market? Is it time to sell?
With the American stock market already up more than 300 percent since March 2009, including dividends, these are pertinent questions. Several readers asked them in response to last week’s column, which pointed out that wherever the market goes next, it is definitely not at the bottom now. After years of spectacular gains, stocks are anything but cheap.
What’s more, the market has been so placid this year — despite the turmoil emanating from Washington — that the calm on Wall Street has been almost supernatural. By some measures, stocks haven’t been this steady in more than 50 years. Furthermore, the economic expansion now underway is already the third longest since 1854. It takes little imagination to envision a sudden rout.
Those observations unnerved some readers who asked what they, as investors, should do now. Simply put, my answer is this: If you’re a stock investor, be prepared for a major decline, not because one is necessarily coming soon but because no one can predict where the markets are heading.
I spoke to Fran Kinniry, principal in Vanguard’s investment strategy group. “I always tell people to be consistent in their thinking,” he said. “People think they are O.K. with their portfolios now, and why not? They’re probably sitting on big gains.
Friday, August 25, 2017
Market Daily Report: KLCI down as Genting, Sime Darby decline
KUALA LUMPUR (Aug 25): The FBM KLCI fell 6.33 points or 0.4% as index-linked Genting Bhd, Genting Malaysia Bhd and Sime Darby Bhd shares declined. At 5pm, the KLCI closed at 1,769.17 points.
Genting Bhd and Genting Malaysia shares dropped on news Puan Sri Lee Kim Hua, widow of Genting Group's late founder Tan Sri Lim Goh Tong, passed away this morning. She was 88.
Sime Darby shares fell after the group said net profit fell to RM571 million in the fourth quarter ended June 30, 2017 (4QFY17), from RM1.23 billion a year earlier.
Full-year net profit rose to RM2.44 billion, from RM2.42 billion a year earlier.
At 5pm, Genting Malaysia shares declined 23 sen to RM5.82, to become Bursa Malaysia's fourth-largest decliner. Genting Bhd shares closed four sen lower at RM9.75, after falling to their intraday low at 9.62. Sime Darby shares fell 10 sen to RM9.13.
Across Bursa Malaysia, two billion shares exchanged hands for RM1.94 billion. A total of 313 counters gained versus 503 decliners.
Malaysian shares bucked Asian equity gains. Japan’s Nikkei 225 gained 0.51%, while Hong Kong's Hang Seng was up 1.2%.
In Malaysia, TA Securities Holdings Bhd wrote in a note today: "Overall market sentiment should remain cautious, as investors are likely to return their focus on a central banking conference in Jackson Hole, later in the day."
Reuters reported Asian stocks advanced on Friday, once again shrugging off a sluggish day on Wall Street, and the dollar strengthened as attention shifted to the central bankers' symposium that began on Thursday in Jackson Hole, Wyoming.
The dollar rose as investors turned their attention to the Jackson Hole central bankers' meeting at which Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are due to speak on Friday, although no new policy messages are expected from either.
Source: The Edge
Thursday, August 24, 2017
Market Daily Report: FBM KLCI gets 11th-hour boost from CIMB, IOI Corp
KUALA LUMPUR (Aug 24): The FBM KLCI rose 2.56 points or 0.1% on late buying of CIMB Group Holdings Bhd and IOI Corp Bhd shares. CIMB and IOI Corp helped the KLCI erase losses at the 11th hour.
At 5pm, the KLCI closed at 1,775.50 points after falling to its intraday low at 1,768.52 points. IOI Corp rose 14 sen to RM4.59 to become Bursa Malaysia's sixth-largest gainer.
“Crude palm oil has been on a rally recently, and this — coupled with the fact that IOI Corp has yet to announce the latest quarterly report, may add to the positive sentiment,” Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com.
CIMB shares fell two sen to RM6.72 after falling to its intraday low at RM6.51 ahead of the financial services entity's second quarter results announcement this Monday.
Across Bursa Malaysia today, 2.13 billion shares worth RM1.98 billion changed hands. A total of 425 counters ended higher versus 356 decliners.
APFT Bhd was the most-actively traded counter with some 251 million shares transacted. The stock fell 0.5 sen to close at 2.5 sen.
Source: The Edge
Wednesday, August 23, 2017
Market Daily Report: KLCI down 1.28 pts as AMMB, RHB take centre stage
KUALA LUMPUR (Aug 23): The FBM KLCI fell 1.28 points or 0.1% as index-linked AMMB Holdings Bhd and RHB Bank Bhd took centre stage in Malaysian share trades.
Financial services entities AMMB and RHB were in the spotlight after both banks called off their proposed merger. At 5pm, the KLCI closed at 1,772.94 points as investors took profit from AMMB shares' intraday gains.
At 5pm, AMMB shares fell 11 sen to close at RM4.59 after rising to its intraday high at RM4.89. RHB shares rose 19 sen to close at RM5.07 to become Bursa Malaysia's fifth-largest gainer.
Across Bursa Malaysia, two billion shares were traded for RM1.97 billion. A total of 419 counters declined compared to 384 gainers.
Among the KLCI's 30 constituents, AMMB was the top decliner while RHB was the top gainer.
"Without the merger, we are back to eight anchor banking groups with RHB ranking fourth by total assets and AMMB, sixth. We believe both banks will shift their focus back on their strategic plans which have been outlined for the year/financial year," AllianceDBS Research Sdn Bhd wrote in a note today.
Besides AMMB, the KLCI also fell on losses in other banking stocks like CIMB Group Holdings Bhd and Hong Leong Financial Group Bhd.
Areca Capital Sdn Bhd CEO Danny Wong told theedgemarkets.com that although a number of banking counters declined, the impact was not "significant enough to cause a large wave in the market".
Source: The Edge
Tuesday, August 22, 2017
Market Daily Report: FBM KLCI higher on bargain hunting, earnings cue
At 5pm, the KLCI settled at 1,774.22 points. Investors bargain hunted for local shares after the index fell 4.6 points to 1,771.62 points yesterday.
Today, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com : “Overall market sentiment is still mixed, but the [KLCI] likely recouped its losses from yesterday due to its reaction to the earnings season.”
Malaysia's April-June quarter corporate financial-reporting season starts in July, although most companies report their earnings in August.
Today, Bursa Malaysia saw 392 gainers compared with 364 decliners. A total of 1.77 billion shares valued at RM1.89 billion were traded.
Top gainer was KESM Industries Bhd while Mlabs Systems Bhd was the top-active counter. Pong said penny stocks' performance was a good barometer for retail investors' sentiment.
Across Asian share markets, Japan’s Nikkei 225 fell 0.05% while Hong Kong’s Hang Seng rose 0.91%. South Korea's Kospi added 0.44%.
Reuters reported that Asian shares rose on Tuesday after modest gains on Wall Street, while robust metals prices underpinned some regional markets even as investors remained wary ahead of the annual central banking conference in Jackson Hole later this week.
Source: The Edge
Monday, August 21, 2017
Market Daily Report: FBM KLCI down with Westports as Trump talk spooks investors
KUALA LUMPUR (Aug 21): The FBM KLCI dipped 4.6 points or 0.3% to close at its intraday low
on late selling of Westports Holdings Bhd shares and as investors remained concerned about President Donald Trump's ability to push through his growth-focused economic agenda.
At 5pm, the KLCI closed at 1,771.62 points. KLCI-linked Westports shares fell 13 sen to RM3.62 to become Bursa Malaysia's fifth-largest decliner.
“It’s clear that the better than expected growth in (Malaysia's) gross domestic product (GDP announced) last Friday is not really helping as (share) trade is mostly cautious,” TA Securities Holdings Bhd technical analyst Stephen Soo said.
Soo said worries that Trump would fail to push through his growth-focused economic agenda had overridden Malaysia's economic growth figures.
Across Bursa Malaysia, decliners outpaced gainers at 418 to 366 respectively. A total of 1.68 billion shares were traded for RM1.78 billion.
Malaysian shares fell with Asian equities. Japan’s Nikkei 225 fell 0.4% while South Korea's Kospi was down 0.14%.
Reuters reported that Asian shares were fragile on Monday as investors remained unconvinced about Trump's ability to fulfill his economic agenda, even as the departure of his controversial policy strategist raised hopes of some progress.
It was reported that investors were also wary of any flare-up of tensions between North Korea and the US as US troops and South Korean forces started a joint exercise on Monday.
Source: The Edge
Sunday, August 20, 2017
M+ Online Market Wrap - 18Aug17
FBM KLCI: 1,776.22 pts (-0.09pts, -0.01%)
The FBM KLCI (-0.01%) ended marginally lower after key index recouped most of its intraday losses amid the stronger-than-expected 2Q2017 GDP data that grew 5.8% Y.o.Y. Market breadth was negative with 357 winners compared to 472 losers, while 374 stocks closed flattish. Construction stocks like Econpile (+11.0 sen), Crest Builder (+8.0 sen) and Sunway Construction (+3.0 sen) continue to outperform its peers.
Top 3 Active stocks:
UMWOG (5243): RM0.33 (+2.0 sen)
MTOUCHE (0092): RM0.275 (-2.5 sen)
JAG (0024): RM0.145 (unch)
Volume: 1.45 bln (100-day avg vol: 2.54 bln)
Value: RM1.58 bln
Market Breadth: ⬆️:357 ⬇️:472
Crude palm oil: RM2,679 (+RM21)
Dow Futures: 21,711 pts (-22 pts)
Source: Bloomberg, M+ Online
Friday, August 18, 2017
Market Daily Report: FBM KLCI down on Trump sentiment
KUALA LUMPUR (Aug 18): The FBM KLCI cut losses to close 0.09 point lower at 1,776.22 points after the market gave a last minute push to index-linked Petronas Gas Bhd and Westports Holdings Bhd shares.
The KLCI had earlier dropped to its intraday low at 1,770.04 points on weak global sentiment following substantial overnight US share losses.
Reuters reported that US stocks sold off on Thursday, with the S&P 500 recording its biggest daily percentage drop in three months as escalating worries about US President Donald Trump's administration's ability to push through its economic agenda rattled investors.
The Dow Jones Industrial Average ended down 274.14 points, or 1.24 percent, to 21,750.73, the S&P 500 lost 38.1 points, or 1.54 percent, to 2,430.01 and the Nasdaq Composite dropped 123.20 points, or 1.94 percent, to 6,221.91.
Today, Malaysian shares fell with Asian equities on the Trump sentiment. Japan's Nikkei 225 fell 1.18% while Hong Kong's Hang Seng declined 1.08%
In Malaysia, TA Securities Holdings Bhd technical analyst Stephen Soo told theedgemarkets.com that the KLCI's recovery in the previous trading sessions had not been sustainable as it was not matched by positive momentum in the wider market.
“The local market would need a stronger catalyst than the release of (Malaysia's) 2Q GDP (gross domestic product) results, failing which I still see the index trading between 1,765 and 1,782 points,” Soo said.
Malaysia's GDP grew 5.8% in 2017's second quarter from a year earlier, on domestic demand and export growth, Bank Negara Malaysia said today.
Across Bursa Malaysia at 5pm, 1.45 billion shares worth RM1.58 billion were traded. Decliners outpaced gainers at 436 to 339 respectively.
Petronas Gas and Westports were Bursa Malaysia's fourth and fifth-largest gainers respectively. Petronas Gas added 14 sen to RM18.80 while Westports rose 13 sen to RM3.75. The most-active stock was UMW Oil and Gas Corp Bhd.
Source: The Edge
Thursday, August 17, 2017
Market Daily Report: KLCI up on positive sentiment ahead of Malaysia GDP numbers
KUALA LUMPUR (Aug 17): The FBM KLCI rose 2.56 points or 0.1% on positive market sentiment amid ebbing US-North Korea geopolitical tensions and as declining US interest rate hike expectation supported Asian markets.
At 5pm, the KLCI closed at 1,776.31 points after index-linked Hong Leong Financial Group Bhd (HLFG) shares posted sharp gains in the final trading minutes. HLFG rose eight sen to RM17.02.
Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew said although the KLCI registered modest gains,"the positive local market sentiment showed signs of catching up with regional markets elsewhere in the region".
Across Bursa Malaysia, gainers outstripped decliners at 461 against 315 respectively. A total of 1.8 billion shares worth RM1.88 billion were traded.
Top gainers included Hengyuan Refining Co Bhd and Lotte Chemical Titan Holding Bhd.
Malaysian shares rose ahead of Bank Negara Malaysia's announcement tomorrow on the country's 2017 second quarter gross domestic product (GDP) figures.
In a note, Credit Suisse said its second quarter Malaysia GDP on-year growth estimate at 6% was above consensus estimate at 5.6%.
Today, slower US rate hike expectation boded well for Asian markets in anticipation of demand for higher-yielding regional assets.
Reuters reported that Asian stocks edged higher on Thursday as tensions between the United States and North Korea came off the boil, while the Federal Reserve's concerns about weak US inflation weighed on the dollar.
It was reported that minutes from the Fed's July meeting released on Wednesday showed the central bank grew more wary about recent weak inflation, with some policymakers wanting to halt interest rate hikes until it was clear the trend was temporary. Money market futures are now pricing in about a 40 percent chance the Fed will raise rates by December, compared to just under 50 percent before the Fed's minutes.
Source: The Edge
Wednesday, August 16, 2017
Market Daily Report: FBM KLCI up as planters top Bursa decliners
At 5pm, the KLCI closed at 1,773.75 points after falling to its intraday low at 1,771.6 points.
“The market today is quite flat, no local catalysts in sight except for more corporate results coming in [within these two weeks]...also markets seem to have calmed down from the US and North Korea tensions earlier,” JF Apex Securities Bhd senior analyst Lee Cherng Wee told theedgemarkets.com.
Reuters reported that the dollar hoarded hefty gains on Wednesday after strong US retail sales revived the chance of another Federal Reserve rate hike this year, while Asia stocks inched ahead as tensions in the Korean peninsula went off the boil.
It was reported that North Korean leader Kim Jong Un has delayed a decision to fire missiles towards Guam while he waits to see what the United States does, as Washington said any dialogue was up to Kim.
At Bursa Malaysia, the KLCI fell earlier as investors sold plantation shares on news Malaysian crude palm oil (CPO) futures dropped more than 1% today. Malaysian CPO had tracked overnight soyoil losses on the Chicago Board of Trade as both commodities are substitutes to each other.
CPO's price drop had an apparent impact on Malaysian shares as plantation companies topped Bursa Malaysia decliners. United Plantations Bhd shares topped decliners followed by Genting Plantations Bhd warrants.
Across Bursa Malaysia, 1.72 billion shares valued at RM1.8 billion were traded. Gainers outweighed decliners at 498 against 283 respectively.
Source: The Edge
Tuesday, August 15, 2017
Market Daily Report: FBM KLCI up with Lotte as US-North Korea tension ebbs
KUALA LUMPUR (Aug 15): The FBM KLCI rose 1.31 points or 0.1% after North Korea indicated it would postpone plans to launch a missile near US territory Guam. Asian shares gained after US equities rose overnight on the news.
At Bursa Malaysia, the KLCI closed at 1,772.39 points at 5pm after falling to its intraday low at 1,768.76 points. As US-North Korea geopolitical tension ebbs, analysts said investors in Malaysia had also noted Lotte Chemical Titan Holding Bhd share gains.
“Some heavyweight counters, particularly Lotte, had also lifted market sentiment,” Hong Leong Investment Bank Bhd retail research head Loui Low Ley Yee told theedgemarkets.com.
Lotte Chemical Titan shares rose 42 sen to close at RM5.12 to become Bursa Malaysia's third-largest gainer.
Across Bursa Malaysia, gainers outpaced decliners 480 to 306 respectively.
The bourse saw a volume of 1.8 billion shares valued at RM1.795 billion traded.
Across Asian share markets, Japan’s Nikkei 225 closed 1.1% higher while Hong Kong's Hang Seng erased gains to end 0.28% lower. South Korea's Kospi was closed for the Liberation Day holiday.
Reuters reported that Asian shares rose and the dollar rallied on Tuesday after North Korea's leader signalled that he would delay plans to fire a missile near Guam, easing tensions and prompting investors to move back into beaten-down riskier assets.
It was reported that US stocks recovered further on Monday from last week's selloff, with the S&P 500 posting its biggest one-day percentage gain since April as worries eased about a conflict between the United States and North Korea.
Source: The Edge
Monday, August 14, 2017
Market Daily Report: KLCI up on bargain hunting; Lotte rises
KUALA LUMPUR (Aug 14): The FBM KLCI rose 4.12 points or 0.2% on bargain hunting and as Asian shares climbed with US stock futures. Global shares gained today following US equities' advance last Friday.
At 5pm today, the KLCI closed at 1,771.08 points. Across Asia, Hong Kong's Hang Seng added 1.36% while South Korea's Kospi climbed 0.63%.
"The KLCI has rebounded after the decline in the past few days, led by technology stocks and industrial stocks. This has been partly due to the weakness of the ringgit, which is perceived to be positive for stocks in these sectors," Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com
Last Friday, the KLCI fell 10.81 points to close at 1,766.96 points.
Reuters reported that the three major US stocks indexes ended higher on Friday, snapping three days of losses, as investors bet on slower US rate hikes, but gains were muted by increasingly aggressive exchanges between the United States and North Korea.
Today, Reuters reported that Asian stocks bounced on Monday after three straight losing sessions, tracking a firmer Wall Street, while the dollar was capped by tensions on the Korean peninsula and doubts that the Federal Reserve will hike interest rates again this year. US stock futures rose 0.3 percent, suggesting a higher open later in the day.
Across Bursa Malaysia, 1.53 billion shares worth RM1.7 billion were traded. There were 483 gainers and 290 decliners.
Lotte Chemical Titan Holding Bhd rose 34 sen to RM4.70 to become the third-largest gainer after JPMorgan Chase & Co and HSBC initiated coverage on the stock. Bloomberg reported that JPMorgan had a RM7 target price (TP) for Lotte Chemical Titan shares with an "overweight" call. It was reported that HSBC had a RM7.60 TP with a "buy" call for Lotte Chemical Titan.
Source: The Edge
Sunday, August 13, 2017
Why it makes sense to invest in RGB International?
Friday, August 11, 2017
Market Daily Report: KLCI closes lower amid continued tensions between US and N.Korea
KUALA LUMPUR (Aug 11): The FBM KLCI closed 10.81 points or 0.62% lower, in line with regional peers, amid reports of continued tensions between North Korea and the US.
At 5.01pm, the KLCI was down at 1,766.96 points.
Across Asia, South Korea's Kospi was down 1.69% at 2,319.71 points and Hong Kong's Hang Seng fell 2.04% to 26,883.51 points.
Inter Pacific Securities research head Pong Teng Siew told theedgemarkets.com that the market has previously been ignoring the building tension between North Korea and the US, despite talks of a potential nuclear war.
"The market has finally woken up to the threat of a possible nuclear war, hence the drop in performance today, as it finally realises the weight of the tensions between [the two countries]," he said.
He added that speculation of the potential war has affected South Korea's Samsung Electronics, the world's largest semiconductor player, and that the situation has had knock-on effects on domestic tech stocks.
Today, Bursa Malaysia saw 1.64 billion shares worth RM1.89 billion traded, compared with 1.35 billion shares valued at RM1.5 billion traded at yesterday's close.
Decliners outpaced gainers at 718 versus 165. Week-on-week, the FBM KLCI has fallen 0.32% from its close of 1,771.9 points last Friday.
Among the top gainers were United Plantations Bhd and Bintulu Port Holdings Bhd. The decliners' list was led by Malaysian Pacific Industries Bhd, Ajinomoto (Malaysia) Bhd, and AEON Credit Service (M) Bhd.
Reuters reported Japanese stocks finished slightly lower after a choppy session on Thursday, as investors kept a wary watch on tension over North Korea ahead of Japan's long weekend.
Source: The Edge
Thursday, August 10, 2017
Market Daily Report: KLCI weighed down by Malaysia election cue, US-North Korea tension
KUALA LUMPUR (Aug 10): The FBM KLCI closed 0.17 point lower at 1,777.77 points as the US-North Korea geopolitical tension and speculation on Malaysia's 14th General Election's (GE14) timing turned investors cautious.
The cautious sentiment was apparent across Bursa Malaysia where decliners significantly outpaced gainers at 585 to 248 respectively. The bourse saw a volume of 1.35 billion shares valued at RM1.5 billion.
“Investors could also be waiting for the release of upcoming financial results before making decisions,” Hong Leong Investment Bank Bhd retail research head Loui Low said.
He said the trade volume across Bursa Malaysia at 1.35 billion shares today was "quite thin" as Malaysia's GE14 theme took centre stage in local markets. The nation held its GE13 on May 5, 2013.
Today, cautious sentiment was reflected across Asia as stocks fell on the US-North Korea geopolitical tension. Japan's Nikkei 225 dropped 0.05%, South Korea's Kospi fell 0.38% while Hong Kong’s Hang Seng was down 1.13%.
Reuters reported that Asian stocks turned lower on Thursday as investors fretted about the simmering tensions between the US and North Korea, sending Seoul shares skidding to two-month lows even as the previous day's rush into safe-haven assets appeared to slow.
Source: The Edge
Wednesday, August 9, 2017
Market Daily Report: FBM KLCI down on US-North Korea tension
KUALA LUMPUR (Aug 9): The FBM KLCI declined 3.71 points or 0.2% as the US-North Korea geopolitical tension rattled Asian share markets.
At 5pm, the KLCI closed at 1,777.94 points. Across Asia, Japan’s Nikkei 225 dropped 1.29%, South Korea's Kospi fell 1.1%, while Hong Kong’s Hang Seng declined 0.35%.
In Malaysia, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com: “Today’s weakness is mainly due to profit-taking, as well as the rising geopolitical tension recently seen between the US and North Korea, which in turn impacted investor sentiment, locally and regionally, today.”
Across Bursa Malaysia, 1.42 billion shares valued at RM1.74 billion exchanged hands. Decliners outpaced gainers at 414 against 315 respectively, as global investors followed news on the US-North Korea geopolitical tension.
Reuters reported Asian shares and U.S. stock futures slipped on Wednesday and investors sought havens such as U.S. Treasuries, gold and the yen, as tensions on the Korean peninsula escalated, with Pyongyang saying it is considering plans to attack Guam.
A spokesman for the Korean People's Army said in a statement that it was "carefully examining" plans for a missile attack on the U.S. Pacific territory, which has a large American military base. The comments came just hours after U.S. President Donald Trump told North Korea that any threat to the United States would be met with "fire and fury", rattling markets globally.
Source: The Edge
Tuesday, August 8, 2017
Market Daily Report: KLCI lifted by Maybank after falling on China trade data
KUALA LUMPUR (Aug 8): The FBM KLCI rose 3.74 points or 0.2% as gains in big capitalisation stocks like Malayan Banking Bhd (Maybank) supported the local share market.
At 5pm, the KLCI closed at 1,781.65 points. Maybank shares added 10 sen to RM9.80 to become Bursa Malaysia's sixth-largest gainer and 10th most-active stock.
“(On the KLCI) institutional investors are still buying in, despite the much lower volume this week. The fundamentals are still strong, investors are just avoiding overvalued counters at the moment,” an analyst told theedgemarkets.com.
The analyst said investors might be switching to safe havens from small and mid-capitalisation companies, as investors digested the news on 1Malaysia Development Bhd's financials.
Across Bursa Malaysia, 2.09 billion shares valued at RM2.26 billion changed hands. Decliners outpaced gainers at 541 against 280 respectively.
The KLCI erased losses after falling on news China's July export and import growth were below market forecast. Reuters reported that China's July exports rose 7.2 percent from a year earlier, while imports grew 11 percent, both well below analysts' forecasts, official data showed on Tuesday.
Analysts polled by Reuters had expected July shipments from the world's largest exporter to have risen 10.9 percent, easing slightly from 11.3 percent growth in June. Imports had been expected to have climbed 16.6 percent, after rising 17.2 percent in June.
Source: The Edge
Monday, August 7, 2017
Market Daily Report: FBM KLCI higher on Hong Leong Bank spike ahead of US job report
KUALA LUMPUR (Aug 4): The FBM KLCI rose 2.63 points or 0.1% mainly on index-linked Hong Leong Bank Bhd and Public Bank Bhd shares' 11th-hour spike and as investors waited for the US employment report.
At 5pm, the KLCI closed at 1,774.53 points. Hong Leong Bank shares rose 34 sen to RM16 while Public Bank added 16 sen to RM20.76.
Hong Leong Bank and Public Bank were Bursa Malaysia's third and ninth largest gainers respectively. The KLCI had also risen on Petronas Gas Bhd share gains.
Despite the KLCI's gain, Bursa Malaysia decliners outnumbered gainers at 397 to 361 respectively. Bursa Malaysia's trading volume stood at 1.42 billion shares worth RM1.47 billion ringgit.
“On the broader market, sentiment is still weak as investors continue to book profits from the rally in the stock market which was seen since December,” Malacca Securities Sdn Bhd analyst Kenneth Leong told theedgemarkets.
"Investors are also anticipating positive US employment statistics, which is scheduled to be released later today," Leong said.
Across Asian share markets, Japan’s Nikkei 225 fell 0.38% while South Korea’s Kospi rose 0.36%. In China, Hong Kong's Hang Seng added 0.12% while the Shanghai Stock Exchange Composite fell 0.33%.
Reuters reported that Asian stocks inched up on Friday after a technology-led drop on Wall Street, with gains kept in check by investors' reluctance to stake out fresh positions ahead of US jobs data later in the global day.
It was reported that Japan's Nikkei share average decreased as the yen's rise to seven-week highs overshadowed optimism on corporate earnings.
Source: The Edge
Friday, August 4, 2017
Market Daily Report: FBM KLCI higher on Petronas Dagangan as Asian shares fall
KUALA LUMPUR (Aug 3): The FBM KLCI rose 1.29 points or 0.1% after volatile trade mainly on late buying of index-linked Petronas Dagangan Bhd shares. The KLCI rose as Asian shares fell.
At Bursa Malaysia, the KLCI closed at 1,771.90 points after reaching its intraday high and low at 1,772.59 and 1,768.05 points respectively. Petronas Dagangan shares climbed 28 sen to RM24.02 to become Bursa Malaysia's second-largest gainer.
Across Bursa Malaysia, 1.75 billion shares valued at RM1.746 billion were traded. There were 429 decliners and 336 gainers.
“The increased buying support in the local telco heavyweights, positive sentiment on Wall Street as well as the increase in crude oil prices also contributed to the index’s (KLCI) performance today,” Malacca Securities Sdn Bhd analyst Kenneth Leong told theedgemarkets.com
Asian shares declined. Japan's Nikkei 225 fell 0.25%, Hong Kong’s Hang Seng declined 0.28% while South Korea’s Kospi closed 1.68% lower.
Reuters reported that world stock markets fell on Thursday, led by a tumble in tech shares as investors locked in recent gains after Wall Street's Dow Jones Industrial Average broke the 22,000 barrier for the first time in its 121-year history.
It was reported that Japan's Nikkei share average fell as investors engaged in profit taking of tech shares which rallied the previous day on Apple's strong quarterly earnings.
Source: The Edge
Thursday, August 3, 2017
Market Daily Report: FBM KLCI higher on Petronas Dagangan as Asian shares fall
KUALA LUMPUR (Aug 3): The FBM KLCI rose 1.29 points or 0.1% after volatile trade mainly on late buying of index-linked Petronas Dagangan Bhd shares. The KLCI rose as Asian shares fell.
At Bursa Malaysia, the KLCI closed at 1,771.90 points after reaching its intraday high and low at 1,772.59 and 1,768.05 points respectively. Petronas Dagangan shares climbed 28 sen to RM24.02 to become Bursa Malaysia's second-largest gainer.
Across Bursa Malaysia, 1.75 billion shares valued at RM1.746 billion were traded. There were 429 decliners and 336 gainers.
“The increased buying support in the local telco heavyweights, positive sentiment on Wall Street as well as the increase in crude oil prices also contributed to the index’s (KLCI) performance today,” Malacca Securities Sdn Bhd analyst Kenneth Leong told theedgemarkets.com
Asian shares declined. Japan's Nikkei 225 fell 0.25%, Hong Kong’s Hang Seng declined 0.28% while South Korea’s Kospi closed 1.68% lower.
Reuters reported that world stock markets fell on Thursday, led by a tumble in tech shares as investors locked in recent gains after Wall Street's Dow Jones Industrial Average broke the 22,000 barrier for the first time in its 121-year history.
It was reported that Japan's Nikkei share average fell as investors engaged in profit taking of tech shares which rallied the previous day on Apple's strong quarterly earnings.
Source: The Edge
Wednesday, August 2, 2017
Market Daily Report: FBM KLCI rises on KLK, PPB as Lotte rebounds
KUALA LUMPUR (Aug 2): The FBM KLCI rose 5.48 points or 0.3% on bargain hunting in index-linked plantations stocks Kuala Lumpur Kepong Bhd (KLK) and PPB Group Bhd. Lotte Chemical Titan Holding Bhd's share rise could have also improved broader market sentiment.
At 5pm, the KLCI closed at 1,770.61 points. KLK and PPB rose 12 sen each to RM24.72 and RM16.90 respectively.
Lotte Chemical Titan rose 14 sen to RM4.42 to become Bursa Malaysia's 10th most-active stock.
Lotte Chemical Titan shares had declined in recent days after the company said net profit dropped to RM113.62 million in the second quarter ended June 30, 2017 (2QFY17)from RM404.03 million a year earlier.
Today, TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com that the KLCI rose mainly due to buying interest in selected heavyweight plantation stocks such as KLK and PPB.
“[However], generally the trend is still cautious. The broader market is still in profit taking and consolidation mode,” said Soo.
Across Bursa Malaysia, 1.8 billion shares worth RM1.75 billion were traded. There were 362 gainers and 429 decliners.
Malaysian shares rose with Asian share markets. Japan’s Nikkei 225 rose 0.47%, Hong Kong’s Hang Seng was up 0.24% while South Korea’s Kospi gained 0.19%.
Reuters reported that Japan's Nikkei share average rose to a 1½ week high on Wednesday, supported by strong domestic earnings as well as a rally among Apple's suppliers after the iPhone maker reported robust profits.
It was reported that the dollar has been weighed down by political turmoil gripping Washington and largely uninspiring US economic data, which is adding to uncertainty about the pace of future US Federal Reserve policy tightening.
Source: The Edge
Tuesday, August 1, 2017
Market Daily Report: FBM KLCI higher with Maybank as Asian shares rise
KUALA LUMPUR (Aug 1): The FBM KLCI rose 5.1 points or 0.3% with Asian shares as investors bargain hunted for index-linked Public Bank Bhd and Malayan Banking Bhd (Maybank) shares.
At 5pm, the KLCI closed at 1,765.13 points while Public Bank rose 32 sen to RM20.60 to become Bursa Malaysia's fourth-largest gainer.
Maybank added 11 sen to RM9.65.
Across Bursa Malaysia, 1.82 billion shares worth RM2.24 billion were traded. There were 503 decliners compared with 271 gainers.
Actively-traded stocks included Frontken Corp Bhd and ManagePay Systems Bhd.
Analysts said overall market sentiment was still negative as the number of declining stocks on Bursa Malaysia outnumbered gainers.
“There is an improvement on the composite index today. However underlying overall sentiment is still negative as there are twice as many [decliners] than gainers today,” Inter-Pacific Research Sdn Bhd research head Pong Teng Siew told theedgemarkets.com
Asian shares rose. Japan's Nikkei 225 added 0.3% while Hong Kong's Hang Seng rose 0.79%.
Reuters reported that Asian shares rose on Tuesday as investors looked to a barrage of economic data around the world to confirm recent signs the global economy is in fine fettle with inflation staying well contained.
Source: The Edge