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Showing posts from June, 2015

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Market Daily Report: Bursa Malaysia Rebounds To Reclaim 1,700 Level At Close

KUALA LUMPUR, March 10 (Bernama) -- Bursa Malaysia rebounded to end higher today with the benchmark FBM KLCI reclaiming the 1,700 psychological level, supported by improved global sentiment after US President Donald Trump signalled a potential de-escalation of the Iran conflict, alongside Malaysia’s stronger Industrial Production Index (IPI) data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 27.51 points, or 1.64 per cent, to 1,701.68 from yesterday’s close of 1,674.17.  The benchmark index opened 10.68 points higher at 1,684.85, its lowest point today, and hit a high of 1,703.61 in the late afternoon session.  Market breadth was positive, with gainers thumping losers 929 to 382. A total of 361 counters were unchanged, 982 untraded and 19 suspended. Turnover declined to 3.60 billion units worth RM3.75 billion from yesterday’s 5.52 billion units worth RM5.87 billion.
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Weakened Ringgit

A lot of us Malaysians are probably upset with the depreciation of the Ringgit.  Weakened Ringgit The Ringgit has weakened to multi-year low and breached the previous low of RM3.73 to the USD and according to a lot of research, it is inching towards the pegged level of RM3.80/USD. This morning, while I was driving to work, I heard from BFM on their discussion. Apparently, our foreign reserve exchange is stand at an estimate of around 100 billion USD.  If you're like me, you'll probably feel the pinch as I'm earning in RM. To talk about travelling would be a pain in the ass now because I'll have to fork out more most of the time. I suspect gadgets like Apple products might see another increase if the drop in the currency continues. Even then, Zeti insist that the RM is still strong and it's only at this level due to negative sentiments. I'm not sure if I'm buying it but as Ringgit continues to weaken, perhaps it's time to look at who...
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YTD Foreign Selling Rises to RM6.7 Billion, says MIDF Research

KUALA LUMPUR (June 8): Foreign selling on Bursa remained heavy last week, taking year-to-date foreign selling to RM6.7 billion after foreign investors sold RM926.1 million last week, according to MIDF Research. In his weekly Fund Flow report, MIDF Research head Zulkifli Hamzah said that for the sixth consecutive week, foreign investors had been net sellers of Malaysian equity. He said the amount offloaded was still close to the RM1 billion mark as investors classified as “foreign” sold equity listed in the open market on Bursa (ie excluding offmarket deals) on a net basis amounted to RM926.1 million. Zulkifli said this was comparable to the RM999.8 billion sold the week before, adding it was the fourth highest in a week this year. He said that again, foreign investors were net sellers every single trading day last week, and had been selling for the past 14 straight trading days. Zulkifli said the amount exceeded the RM200 million mark on Tuesday and Thursday, making it 18...
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