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Market Daily Report: Late Buying Lifts Bursa Malaysia As Oil Prices Support Energy Counters

KUALA LUMPUR, April 30 (Bernama) -- Last-minute buying lifted Bursa Malaysia’s benchmark index, reversing earlier losses as higher oil prices boosted sentiment for energy- and chemical-related counters. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional markets remained under pressure following negative cues from Wall Street, compounded by surging oil prices, mixed earnings, and a cautious US Federal Reserve stance. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 1.60 points, or 0.09 per cent, to 1,722.02 from Wednesday’s close of 1,720.42. The benchmark index opened marginally lower at 1,720.23 and moved between a low of 1,712.14 and a high of 1,722.03 throughout the day. Market breadth, however, was negative, with losers trouncing gainers 816 to 360. A total of 546 counters were unchanged, 950 were untraded, and 77 were suspended. Turnover declined to 2.91 billion un...
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Market Daily Report: Bursa Malaysia Ends Lower On Profit-Taking In Oil-Related Counters

KUALA LUMPUR, April 29 (Bernama) -- Bursa Malaysia ended on a softer note today, as investors took profit in oil-related counters following news of the United Arab Emirates’ (UAE) decision to withdraw from the Organisation of the Petroleum Exporting Countries (OPEC) and its allies. The decline in the benchmark index was also in line with the weaker overnight performance on Wall Street, as investors turned more defensive ahead of the US Federal Open Market Committee’s meeting later tonight, said IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 9.18 points, or 0.53 per cent, to 1,720.42 from Tuesday’s close of 1,729.60. The benchmark index, which opened 2.05 points higher at 1,731.65, moved within a range of 1,718.45 to 1,733.84 throughout the session. Market breadth was negative, with losers outpacing gainers 617 to 485. A total of 619 counters were u...
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Automakers Warn of Pullback Risk as USMCA Uncertainty Threatens Cheap Car Supply

Foreign automakers have cautioned that  affordable vehicle models could disappear from the US market  if the  US-Mexico-Canada Agreement (USMCA)  is not renewed or revised favorably. Trade Policy Uncertainty Clouds Auto Sector Outlook Industry players have raised concerns to the administration of  Donald Trump  that without a stable trade framework: Producing  low-cost vehicles may become uneconomical Supply chains across  North America could be disrupted The USMCA, which currently allows  tariff-free automotive trade , is under review, with negotiations facing delays amid rising tensions. Tariffs Threaten Cost Structure The situation has been exacerbated by  25% tariffs on auto imports  from Mexico and Canada imposed last year. These tariffs have: Increased  production costs Pressured margins for automakers Made  entry-level vehicles less viable  in the US market Without relief, manufacturers may  scale back or ...
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