MONEY MASTER

KUALA LUMPUR (May 31): The FBM KLCI rose 0.53 point as the index erased losses at the eleventh hour on buying interest in CIMB Group Holdings Bhd, Malayan Banking Bhd and Petronas Dagangan Bhd shares. At 5pm, the KLCI closed at 1,765.87 points after falling to its intraday low at 1,761.11 points. CIMB added 14 sen to RM6.40, Maybank climbed eight sen to RM9.44 while Petronas Dagangan rose 64 sen to RM24.60. Petronas Dagangan was Bursa Malaysia's top gainer while CIMB was the fifth most-active stock. "Thanks to the banking counters, the KLCI managed to  continue sustaining its green position today,” Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarket.com over telephone. Across Bursa Malaysia, 2.74 billion shares worth RM5.17 billion were traded. Decliners outpaced gainers by 501 versus 437 respectively. IHH Healthcare, Berjaya Sports Toto Bhd and AirAsia X Bhd were the top three actively-traded counters. Source: The ...

KUALA LUMPUR (May 30): The FBM KLCI remained fairly flat today, closing 0.45 points or 0.03% higher at 1,765.34, as the market appeared unimpressed by first quarter financial results. “(There was) a bit of disappointment on the market's part, as the big comeback was expected in 1Q earnings did not live up to expectations,” said Pong Teng Siew, head of research at Inter Pacific Securities Sdn Bhd, although he himself did not feel let down by the results. In particular, the small and mid-cap indexes were in the midst of a correction, Pong said, highlighting that most other regional indices were down. A total of 2.61 billion shares worth RM2.16 billion were traded. Decliners outpaced gainers by 680 to 235 stocks with 348 other counters unchanged. Gainers were led by Ajinomoto (M) Bhd, Petronas Gas Bhd, and KESM Industries Bhd. Meanwhile, the day’s top losers were Panasonic Manufacturing Malaysia Bhd, Fraser & Neave Holdings Bhd and Genting Malaysia ...

KUALA LUMPUR (May 26): The FBM KLCI fell 1.66 points or 0.1% to 1,772.30 points at 5pm today, after the Organization of the Petroleum Exporting Countries' (OPEC) output cut extension disappointed investors. Investors had earlier hoped OPEC would do more to support crude oil prices. They were disappointed by the absence of additional cut in crude oil production by OPEC. Reuters reported at Thursday's meeting in Vienna that OPEC and some non-OPEC producers agreed to extend a pledge to cut around 1.8 million barrels per day, until the end of the first quarter of 2018. The initial agreement would have expired in June this year. It was reported Brent futures were up 28 cents at US$51.74 a barrel at 0837 GMT today. In Malaysia today, JF Apex Securities Bhd research head Lee Chung Cheng told theedgemarkets.com that oil and gas share losses weighed on the KLCI. “There were some disappointment in the market after OPEC's meeting, a lot of people are e...

KUALA LUMPUR (May 25): The FBM KLCI rose 2.95 points or 0.2% to 1,773.96 points with Asian shares after the overnight uptick in US equities. World shares rose after the US Federal Reserve indicated it may postpone interest rate hikes until policymakers get a clearer picture on the economy. Slower US interest rate hikes bode well for Asian markets like Malaysia in anticipation of foreign demand for Asian assets, which yield higher returns. Across Asia, Japan's Nikkei 225 added 0.36% while Hong Kong's Hang Seng rose 0.8%. At Bursa Malaysia, the KLCI pared gains at 5pm after reaching its intraday high at 1,782.54 points. Etiqa Insurance & Takaful research head Chris Eng said the KLCI pared gains due to spillover effects from the selldown in European stock markets. "The (Malaysian share market) selldown is not really localised; it coincides with the selldown in the European markets, at around 3.55pm today," Eng said. Reuters reported that...

KUALA LUMPUR (May 24): The FBM KLCI rose 3.84 points or 0.2% on bargain hunting and as investors bought CIMB Group Holdings Bhd shares after the financial-services provider reported a 46% rise in first quarter net profit from a year earlier. At 5pm, the KLCI closed at 1,771.01 points after trading between 1,767.22 and 1,776.24 points today. KLCI-linked CIMB rose 14 sen to RM6.13 to become Bursa Malaysia's eighth-largest gainer. CIMB said net profit rose to RM1.18 billion in the first quarter ended March 31, 2017 from RM813.8 million. Revenue was higher at RM4.36 billion versus RM3.73 billion. Across Bursa Malaysia, 3.38 billion shares worth RM2.9 billion changed hands. Decliners outran gainers by 546 to 419 respectively. Yesterday, the KLCI fell 7.78 points to 1,767.17 points after the explosion at the UK's Manchester city hit market sentiment. Today, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said: "KLCI is expected to r...

KUALA LUMPUR (May 23): The FBM KLCI fell 7.78 points or 0.4% on profit taking and as an explosion in the UK's Manchester city, clouded sentiment. At 5pm, the KLCI closed at its intraday low at 1,767.17 points, as investors took profit in index-linked Petronas Gas Bhd and Petronas Dagangan Bhd shares. Petronas Gas fell 62 sen to RM19.18, while Petronas Dagangan dropped 36 sen to RM24.68. Petronas Gas and Petronas Dagangan were the fourth and seventh-largest decliners on Bursa Malaysia, respectively. Bursa Malaysia saw 2.91 billion shares, valued at RM2.8 billion changed hands. There were 636 decliners versus 292 gainers. Oil and gas companies' shares could have taken the cue from lower crude oil prices, after the U.S. proposed to sell half of its crude oil inventory. Reuters reported oil prices fell on Tuesday, weighed down by U.S. President Donald Trump's plan to sell off half of the country's huge oil stockpile, threatening a future glu...

KUALA LUMPUR (May 19): The FBM KLCI rose 1.11 points or 0.1% as higher crude oil prices led to oil and gas companies' share gains. Malaysian equities also tracked Asian share gains, following U.S. stocks' overnight recovery. At 5pm, the KLCI closed at 1,768.28 points, after reaching its intraday high and low at 1,771.50 and 1,767.89 points respectively. KLCI-linked oil and gas stock Petronas Dagangan Bhd rose 68 sen to RM24.76, while Petronas Gas Bhd ended flat at RM19 after rising to its intraday high at RM19.56. Petronas Dagangan was Bursa Malaysia's top gainer. Across Bursa Malaysia, 3.27 billion shares, worth RM3.24 billion, were traded. Gainers outpaced decliners at 623 versus 302 respectively. Reuters reported oil futures rose on Friday to the highest in nearly a month, on growing optimism big producing countries will extend output cuts to curb a persistent glut in crude, with key benchmarks heading for a second week of gains. Brent...

KUALA LUMPUR (May 18): The FBM KLCI fell 8.48 points or 0.5% with Asian markets, after U.S. shares closed lower overnight, amid allegations U.S. President Donald Trump tried to influence a federal probe, which sparked talk of his impeachment. Reuters reported the S&P 500 and the Dow notched their biggest one-day fall since Sept 9 as investors hope for tax cuts, while other pro-business policies faded after reports Trump tried to interfere with a federal investigation, set off alarm bells on Wall Street. Former Federal Bureau of Investigation chief James Comey said in a memo that Trump had asked him to end a probe into former National Security Adviser Michael Flynn's ties with Russia, the report said. In Malaysia, the KLCI closed at 1,767.17 points. Across Asia, Japan’s Nikkei 225 fell 1.32%, South Korea’s Kospi retreated 0.27%, while Hong Kong’s Hang Seng declined 0.62%. In overnight U.S. share trades, the Dow Jones Industrial Average dropped 1.7...

KUALA LUMPUR (May 17): The FBM KLCI fell 2.5 points or 0.1% as Asian shares tracked U.S. stock futures' losses, on concerns about U.S. President Donald Trump's ability to realise the U.S.' economic growth plans. Reuters reported the S&P 500 mini futures and the dollar tumbled on Wednesday on worries about more U.S. political turmoil, after media reports said Trump asked then-FBI Director James Comey to end a probe into Trump's former national security advisor. The reports raised questions over whether obstruction of justice charges could be laid against Trump, weakening confidence in the U.S. president's ability to push through an aggressive stimulus programme that investors had been banking on, since his election in November. In Malaysia today, the KLCI closed at 1,775.65 points at 5pm. Across Asia, Japan’s Nikkei 225 fell 0.53%, Hong Kong’s Hang Seng dropped 0.17%, while South Korea’s Kospi was down 0.1%. At 5:08pm, S&P 500 mini ...

KUALA LUMPUR (May 16): The FBM KLCI fell 0.5 point to 1,778.15 points after the index cut losses in the final trading minutes on late buying of Petronas Dagangan Bhd shares. The KLCI had earlier fallen partly on IHH Healthcare Bhd share losses. At 5pm, Petronas Dagangan rose 34 sen to RM24.40 while IHH fell 25 sen to RM5.92. Petronas Dagangan was the fourth-largest gainer across Bursa Malaysia while IHH was the fifth-largest decliner. Bursa Malaysia decliners outpaced gainers at 497 versus 412 respectively. The bourse saw 3.52 billion shares worth RM3.84 billion change hands. Iskandar Waterfront City Bhd (IWCity) was the most-actively traded with 272.02 million shares transacted. The stock closed 15 sen lower at RM1.98. As Bandar Malaysia-linked stocks like IWCity and Ekovest Bhd hogged the spotlight, analysts, however, said the Malaysian stock market still lacked major catalysts. Mercury Securities Sdn Bhd head of research Edmund Tham told theedgemarkets....

KUALA LUMPUR (May 15): The FBM KLCI rose 2.78 points or 0.2% in the final trading minutes on late buying of Genting Bhd shares and as investors evaluated the impact of higher crude oil prices on the stock market. At 5pm, the KLCI closed at 1,778.65 points after falling to its intraday low at 1,771.87 points. KLCI-linked Genting Bhd shares rose seven sen to RM9.96 after 52.84%-owned subsidiary Genting Singapore PLC said net profit rose significantly to S$181.1 million (RM560.58 million) in the first quarter ended March 31, 2017 from S$10.84 million a year earlier. “The KLCI erased losses when it is nearing the end of the trading hours. The market may consolidate depending on the corporate earnings announcement moving forward,” Areca Capital Sdn Bhd chief executive Danny Wong told theedgemarkets.com. Bursa Malaysia saw 3.74 billion shares worth RM3 billion change hands. Decliners outpaced gainers at 508 versus 421. Iskandar Waterfront City Bhd (IWCity) was t...

KUALA LUMPUR (May 12): The FBM KLCI rose 0.48 point to 1,775.87 points on last minute buying in index-linked Genting Bhd besides banking stocks Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd. The KLCI erased losses after falling on declines in Petronas Gas Bhd, Petronas Dagangan Bhd and Petronas Chemicals Group Bhd shares. The KLCI rose to its intraday high at 1,778.64 points before falling to its intraday low at 1,773.15 points. “There was a high selling pressure in index-linked Petronas Chemicals and Genting Malaysia Bhd since the noon market break today. But clearly, the market remains buoyant and flush with liquidity as investors continue to search for hidden gems,” Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com. At 5pm, Genting Bhd shares rose 16 sen to RM9.89, Maybank added seven sen to RM9.38 while CIMB climbed four sen to RM5.95. Genting Bhd was the seventh-largest gainer across Bursa Malaysia. Burs...

KUALA LUMPUR (May 11): The FBM KLCI rose 8.83 points or 0.5% as higher crude oil prices buoyed world share gains. Such sentiment led to buying in KLCI-linked Petronas Gas Bhd and Petronas Dagangan Bhd shares. At 5pm, the KLCI closed at 1,775.39 points. Petronas Gas rose 62 sen to RM19.12 to become Bursa Malaysia's third-largest gainer. Petronas Dagangan climbed 28 sen to RM24.28. Across Asian share markets, Japan's Nikkei 225 closed up 0.31%, while Hong Kong's Hang Seng rose 0.44%. Reuters reported that world stocks held near all-time highs on Thursday, helped by a rebound in energy shares as oil prices rose after US fuel inventories declined and Saudi Arabia cut supplies of crude to Asia more than expected. It was reported that Brent crude rose another 1.3 percent following a 3 percent gain in the previous session. The advance helped Brent regain the US$50 level and reverse all of last week's losses. In Malaysia, Maybank Investment Bank Bhd c...

KUALA LUMPUR (May 9): The FBM KLCI fell 1.59 points or 0.1% as the index pared losses on Axiata Group Bhd and Westports Holdings Bhd share gains. At 5pm, the KLCI closed at 1,766.56 points after falling to its intraday low at 1,765.14 points. Investors took profit after the KLCI rose to its intraday high at 1,770.43 points. Yesterday, the index climbed 5.41 points to 1,768.15 points as Emmanuel Macron's win in France's presidential election improved world market sentiment. Today, Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com that the KLCI had fallen on Genting Bhd, Genting Malaysia Bhd, MISC Bhd and Malayan Banking Bhd (Maybank) share losses. Genting Bhd fell eight sen to RM9.72, Genting Malaysia dropped two sen to RM5.74, MISC declined nine sen to RM7.35 while Maybank was three sen lower at RM9.36. “Investors were battering down these four counters today but the losses were mitigated by continued support in ...

KUALA LUMPUR (May 8): The FBM KLCI climbed 5.41 points or 0.3% along with Asian share markets as Emmanuel Macron's win in France's presidential election lifted investor sentiments. Investors cheered Macron's win as the pro-European Union (EU) candidate's policies were seen bringing stability to world markets. At 5pm, the KLCI settled at its intraday high at 1,768.15 points. Across Asia, Japan’s Nikkei 225 gained 2.31% while Hong Kong’s Hang Seng climbed 0.41%. Reuters reported that the euro hit a six-month high against the dollar on Monday while Asian shares gained and US stock futures briefly touched a record high, on investor relief after centrist Macron comfortably won the French presidential election. Macron's emphatic victory brought comfort to investors and European allies alike, who had been nervous about the risk of another populist upheaval, following Britain's vote to quit the EU and Donald Trump's election as US presi...

KUALA LUMPUR (May 5): The FBM KLCI rebounded 0.23% today after seeing a sell down yesterday, bucking the decline in regional markets. The benchmark index closed 4.07 points or 0.23% higher at 1,762.74. On a weekly basis, the KLCI fell 0.3% since its closing of 1,768.06 on April 28. Etiqa Insurance & Takaful research head Chris Eng said the index rebounded after its decline yesterday, following news surrounding the termination of the Bandar Malaysia deal. “The KLCI rebounded from the recent sell down, despite the decline in regional markets,” Eng said, adding that the French election has triggered some profit-taking in global markets. “If it’s a positive outcome, there could be an uptrend in global markets including Malaysia, but it would probably not be a significant climb for the KLCI,” he added. On corporate earnings, Eng said the market has priced in expectations of earnings growth in some sectors such as automotive and consumer products, which could wei...

KUALA LUMPUR (May 4): The FBM KLCI declined 13.84 points 0.8% after Malaysian Government-owned TRX City Sdn Bhd said its planned sale of a 60% stake in Bandar Malaysia Sdn Bhd to IWH CREC Sdn Bhd is "null and void with immediate effect". The Government via the Finance Ministry owns TRX, a former unit under 1Malaysia Development Bhd (1MDB). The Government also owns 100% of 1MDB. Iskandar Waterfront Holdings Sdn Bhd and China Railway Engineering Corporation (M) Sdn Bhd (CREC) jointly own IWH CREC. TRX said "IWH CREC failed to meet the payment obligations" under the share sale agreement. Analysts said news on termination of TRX's plan to sell its 60% equity interest in the Bandar Malaysia real estate project here had affected investor sentiment. At 5pm, the KLCI settled at 1,758.67 points, while the ringgit weakened to 4.3300 against the U.S. dollar. JF Apex Securities Bhd senior analyst Lee Cherng Wee told theedgemarkets.com that con...

KUALA LUMPUR (May 2): The FBM KLCI rose today on bullish sentiment, following signs the banking sector is on its way to recovery. The benchmark index closed 10.41 points or 0.59% higher at 1,778.47. “The latest loan growth as well as interest margin will be pointing towards stronger earnings growth this quarter for the banks,” said Areca Capital Sdn Bhd chief executive officer Danny Wong told the edgemarkets.com. He said he hopes to see a re-rating of the banks by research houses, which would depend on the banks’ upcoming results. Wong said the banks’ performances over the past two quarters indicated that they have bottomed, and they are expected to attract foreign investors, amid the current recovery. “The banking sector remains the main magnet for foreign investors," he said. Bursa Malaysia saw a total of 3.88 billion shares, worth RM3.48 billion, traded today. There were 594 gainers and 411 decliners. Reuters reported Japan's Nikkei share a...