MONEY MASTER

KUALA LUMPUR (June 30): The FBM KLCI settled 7.69 points or 0.43% lower at 1,763.67 points today, tracking regional markets as investors turned to profit taking as the mood turned cautious amid expectations that Bank Negara would raise the overnight policy rate (OPR) soon. “There is an absence of window dressing, not just locally but among regional markets. Apart from that, investors are also booking in profits, particularly on worries that Bank Negara Malaysia would raise [key interest rate] in the second half of this year,” TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com. “Further, there are other uncertainties such as concerns over how the upcoming general election could affect the Malaysian stock market. In the meantime, investors are closely monitoring the stock market and keeping a cautious outlook,” Soo said. Soo added that trading for the time being up until the first half of July this year is expected to rem...

KUALA LUMPUR (June 29): The FBM KLCI ended the trading day almost flat, up only 0.13 points to close at 1,771.36 points, although the regional markets had been lifted by the rebound in the United States. Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com: “Yesterday night, the US market rebounded; ignoring the warning from US Federal Reserve chair Janel Yellen’s that stock valuations are rich in the US.” “Our side (KLCI) took after the good sentiment from the US,” he added. Wong noticed that the small- and mid-cap stocks had rebounded but not the big cap counters. Hence, the KLCI ended flattish. Across the board, some 1.4 billion shares worth RM1.56 billion were traded. There were 490 gainers and 292 decliners. Over in the US, Dow Jones Industrial Average gained 143.95 points to 21,454.61 on Wednesday — less 75 points from its record high of 21,528.99 points. Meanwhile, S&P 500 was up 21.31 points to 2,440.69 poi...

KUALA LUMPUR (June 21): The FBM KLCI fell 5.14 points or 0.3% on Tenaga Nasional Bhd share losses and as lower crude oil prices hit Bursa Malaysia oil and gas-related shares. At 5pm, the KLCI closed at 1,775.57 points. Tenaga shares fell 14 sen to RM14.18 to become Bursa Malaysia's 7th largest decliner. Tenaga shares fell after the state-controlled utility said the Employees Provident Fund and Permodalan Nasional Bhd cut their respective stakes in Tenaga. On the broader market, analysts said investors could be taking profit across Bursa Malaysia ahead of the Hari Raya Aidilfitri holidays starting this Sunday (June 25). Malaysian markets will be closed this Monday and Tuesday (June 26 and 27) for Hari Raya Aidilfitri. Today, Jupiter Securities Sdn Bhd analyst Benny Lee told theedgemarkets.com: “Because of the long weekend for Malaysia, investors might be taking profit, so we might see a downtrend but the market should pick up after Hari Raya.” Acro...

KUALA LUMPUR (June 20): The FBM KLCI fell 8.19 points or 0.5% , weighed down by blue-chip stocks like Maxis Bhd and Petronas Gas Bhd. At 5pm, the KLCI closed at 1,780.71 points. Maxis shares fell 26 sen to RM5.62 while Petronas Gas dropped 22 sen to RM18.66. Maxis and Petronas Gas were Bursa Malaysia's fourth and sixth-largest decliners respectively. “The KLCI’s decline was driven by losses sustained by some of the blue-chip stocks, including Maxis," Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com. Maxis shares fell after the mobile telecommunication network provider said it was placing out 300 million new shares to investors. Petronas Gas shares dropped as crude oil prices fell. Reuters reported that oil markets held around seven-month lows on Tuesday as investors focused on persistent signs of rising supply that are undermining attempts by OPEC and other producers to support prices. US West Texas Intermedi...

KUALA LUMPUR (June 13): The FBM KLCI fell 4.45 points or 0.2% to close at 1,784.44 points on profit taking ahead of the closely-watched US interest rate decision this week. The US Federal Reserve's Federal Open Market Committee will decide on the country's interest rate direction upon conclusion of its two day meeting on Wednesday (June 14). US interest rate decisions are closely watched due to their impact on global fund flow. In Malaysia today, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com : “Overall, the Malaysian market is not having a big fluctuation, investors are still waiting for more clarity from global economic (factors) like UK’s Brexit development and US’ Federal Reserve’s widely-anticipated rate hike." At Bursa Malaysia, investors took profit after the KLCI reached its intraday high at 1,793.01 points. Bursa Malaysia saw a total of 2.05 billion shares worth RM2.57 billion change hands. ...

KUALA LUMPUR (June 9): The FBM KLCI gained 3.32 points or 0.19% to close at 1,788.89, but remains trapped below the 1,800 resistance level amid a lack of catalysts and the uncertainty surrounding recent global developments. On a week-on-week basis, the benchmark index has risen 11.94 points or 0.67% since it closed at 1,776.95 on June 2. Kenanga Investment Bank Bhd research head Chan Ken Yew said the market is still consolidating following the developments in the US and UK, adding that there was not much catalyst for the local market currently. “The market still seems to be consolidating below the 1,800 level. If it breaks the 1,787 to 1,800 ceiling, that would drive further increases in the index,” he said. Meanwhile, Chan said investors are keeping an eye on the happenings in the US, UK and the Middle East, but said it is unlikely to have a significant impact on the local market. Across the board, a total of 1.91 billion shares worth RM2.22 billion ...

KUALA LUMPUR (June 8): The FBM KLCI closed 0.35 point or 0.02% lower at 1,785.57, as investors keep an eye on global events, including the UK elections, the upcoming testimony by former FBI director James Comey and the developments in the Middle East. Public Investment Bank Bhd head of research Ching Weng Jin said market participants are taking a wait-and-see attitude, amid the various global uncertainties. “Investors are not taking any risks amid the UK elections, Comey’s testimony in the US and the diplomatic row in the Middle East. With all these external uncertainties, people are not willing to take any chances,” he said. Ching noted the low volume of trades today, but said these external factors should not significantly impact the local market. Across the board, some 1.95 billion shares, worth RM2.15 billion, were traded. Decliners beat gainers at 459 versus 419, while 389 counters were unchanged. United Plantations Bhd led decliners, while Hartalega Holdi...

KUALA LUMPUR (June 7): The FBM KLCI fell slightly today as investor sentiment was affected by foreign institutional funds becoming more risk averse, amid the Middle East political rift and ahead of events like the UK general election, European Central Bank policy meeting and former FBI director James Comey's Senate testimony. The benchmark index settled at the day’s low of 1,785.92, down 5.09 points or 0.28% from yesterday. Its intra-day high was 1,792.65. Mercury Securities Sdn Bhd head of research Edmund Tham said there was some profit taking in the market, as some investors do not see substantial upside to their investment. “Investors are waiting for more clarity from these events, especially the foreign funds, they are more sensitive to global news development,” he told theedgemarkets.com. “So when there is uncertainty, the KLCI would be capped and some local investors will be affected by this kind of sentiment and start taking profit,” he said. Reuter...

KUALA LUMPUR (June 5): The FBM KLCI rose 0.62% today, trailing last week’s rally in the U.S. stock market and supported by higher commodity prices. The benchmark index rallied throughout the day to close up 11 points at 1787.95. On the broader market, 2.48 billion shares, worth RM2.64 billion were traded with 542 gainers against 382 decliners, while 353 counters closed unchanged. Inter-Pacific Research head Pong Teng Siew said the local market was boosted by the bullish sentiment seen in the U.S. market, which closed at record highs last Friday, lifted by finance and technology stocks. Both the S&P 500 and the Dow Jones Industrial Average closed at record highs of 2,349.07 and 21,206.39 respectively. Back home, gainers included Hong Leong Financial Group Bhd, KESM Industries Bhd, United Plantations Bhd and Petronas Dagangan Bhd. Decliners included Kluang Rubber Co (M) Bhd and Manulife Holding  Bhd. Pong said the KLCI “has no problem breaching the ...

KUALA LUMPUR: The FBM KLCI rose 13.84 points or 0.78% to close at 1,776.95 as market sentiment was boosted by the strong overnight performance on Wall Street on positive jobs data. "Payroll numbers in the US were better than expected, so the market's performance was riding on that momentum and the anticipation of what should be a positive US jobs report to be released later this evening," said Etiqa Insurance head of research at Chris Eng. Reuters said ADP reported private payrolls grew by 253,000 last month, beating analysts' median forecast of a 185,000 increase. If the US government's payroll report for May were to show another solid pickup in hiring, it would cement expectations that a rate hike in less than two weeks is a done deal. "The big, medium and small cap indexes saw positive performance today as well," Eng added. The broader market saw gainers leading losers at 732 to 247, with 318 counters closing unchanged. Some 2.46 b...