MONEY MASTER

KUALA LUMPUR (Feb 14): The FBM KLCI declined marginally today but stayed above the 1,700 psychological level the entire day, as market sentiment remained bullish after the rally in the previous two trading days. The benchmark index settled at 1,708.90, down 1.34 points or 0.08% from yesterday, after moving between 1,703.59 and 1,710.08. Interpacific Securities Sdn Bhd’s senior remisier Sam Ng said the market’s overall trading behaviour today was stable. “The price behaviour remains resilient today. The KLCI trend seems stable, as bullish sentiment in the past has attracted some investors to enter the market,” he told theedgemarkets.com. Across the board, there were 2.18 billion shares traded, worth some RM2.56 billion. A total of 387 stocks gained, 470 counters fell, while 387 stocks finished unchanged. The biggest loser was KESM Industries Bhd, while the top gainer was British American Tobacco (M) Bhd. Sterling Progress Bhd was the day’s most actively-traded cou...

KUALA LUMPUR (Feb 10): The FBM KLCI rose 10.44 points or 0.62% to 1698.94 today, boosted by strong overnight gains on Wall Street and China’s positive January trade figures. The broader market was also higher with 542 gainers as against 338 losers. Total turnover was 2.69 billion shares, valued at RM2.42 billion. Top gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd and Malaysian Pacific Industries Bhd. The leading losers included United Plantations Bhd, Petronas Gas Bhd and Far East Holdings Bhd. “We are looking at good figures on the FBM KLCI today,” said TA Securities Holdings Bhd senior technical analyst Stephen Soo. “Wall Street’s performance, which was triggered by (U.S. President Donald) Trump’s announcement of plans to lower taxes on American businesses, was definitely a catalyst of this uptrend,” Soo told theedgemarkets.com over the phone. He said China’s trade data was another factor for the bullish market sentiment. According to the d...

KUALA LUMPUR (Feb 8): The FBM KLCI closed almost unchanged at 1,688.5 points compared to yesterday, as investors braced themselves ahead of more developments in the US, including the appeal court's verdict over US President Donald Trump's travel ban order this week. A total of 2.29 billion shares valued at about RM2.44 billion were traded today. There were 471 gainers and 389 losers. The top gainers on the KLCI included Hap Seng Consolidated Bhd, Petronas Dagangan Bhd, Genting Bhd and RHB Bank Bhd. The top losers were MISC Bhd, IOI Corp Bhd, DiGi.Com Bhd and Axiata Group Bhd. Areca Capital Sdn Bhd chief executive and fund manager Danny Wong said the local stock market is expected to remain temporarily stagnant in light of the US appeal court's decision on Trump's order to ban entry for all refugees and visitors from seven predominantly Muslim nations. "This week is a really important one. The [US appeal court] will finally decide if it agree...

KUALA LUMPUR (Feb 7): The FBM KLCI slipped 0.14% or 2.4 points to close at 1,688.84 today due in part to falls in heavyweights such as Tenaga Nasional Bhd, Sime Darby Bhd and Malayan Banking Bhd. Trading continued to be sluggish with a section of investors still preferring to stay at the sidelines awaiting better leads. Areca Capital Sdn Bhd chief executive and fund manager Danny Wong, however, noted that the market has attracted some fresh buying interest, supported by the price of crude oil and better clarity on US economic policies under Donald Trump's presidency. "Since early-January, there have been upsides in stock prices with the FBM KLCI trading above 1,600 points. This is obviously better than last year when earnings and sentiment were bad," Wong told theedgemarkets.com over telephone. "If oil prices continue strengthening to about US$50–US$60 (a barrel) amid OPEC's output cuts, we could be seeing the local stock market hitting ...

KUALA LUMPUR (Feb 6): The FBM KLCI rose 0.37% or 6.23 points to 1,691.24 today, bolstered by gains in oil and gas (O&G) counters on the more positive outlook for global oil prices. Analysts noted O&G counters saw fresh interest after news that the US Department of Energy could start selling off some of its strategic petroleum reserve soon in a bid to minimise the nation’s oil stockpile. “Volumes are definitely picking up, although there isn’t a lot of quality buying happening as we speak,” said TA Securities Holdings Bhd senior technical analyst Stephen Soo. “As far as active stocks are concerned, penny as well as O&G stocks are the most reactive,” Soo told The Edge Financial Daily over telephone. “With that, the O&G counters are the most active currently on the more positive outlook of global oil prices.” Active O&G stocks included Hibiscus Petroleum Bhd and Borneo Oil Bhd, which were the day’s top two active counters. On another not...

KUALA LUMPUR (Feb 3): The FBM KLCI rose 11.53 points or 0.68% to 1,685.01 today on a stronger buying interest, especially in plantations and telecommunication stocks, despite the move by China's central bank to tighten monetary policy. Notable gainers also included metal related companies such as Press Metal Bhd and A-Rank Bhd. Malacca Securities Sdn Bhd analyst Kenneth Leong said today's uptrend is is a continuation of the modestly positive momentum seen yesterday. "Despite the strengthening of monetary policy from People's Bank of China, the FBM KLCI climbed due to (gains in the) telecommunications and plantations sectors," he told theedgemarkets.com when contacted. He noted that the monetary policy move resulted in stocks falling on the Hong Kong and Shanghai markets. The People's Bank of China raised the interest rate on open market operation reverse repurchase agreements (repos) by 10 basis points. The move reinforced views that...

KUALA LUMPUR (Feb 2): The FBM KLCI gained 1.94 points or 0.12% today on the back of better liquidity breadth compared to the sluggish trade last Tuesday, a day before the Federal Territories Day holiday yesterday. The KLCI settled at 1,673.48 points, driven by climbs by stocks from the plantations, technology, and consumer products sectors. "The breadth continues to be positive with strong volume, though the region is down. Today, we are catching up with yesterday's game because (Bursa) Malaysia was closed yesterday and the blue chips are the gainers," said Interpacific Research's head of research Pong Teng Siew. Pong added that actively traded stocks which are strongly positive have also helped the benchmark index play catch up. Across Bursa, a total of 1.82 billion shares worth RM2.31 billion changed hands. There were 537 gainers versus 315 decliners, while 339 counters closed unchanged. The top gainer was United Plantations Bhd while Bri...