MONEY MASTER

KUALA LUMPUR (July 31): The FBM KLCI fell 7.05 points or 0.4% mainly on last-minute selling of index-linked Public Bank Bhd shares and after Lotte Chemical Titan Holding Bhd announced a year-on-year drop in its second quarter net profit. Public Bank shares fell on news founder and chairman Tan Sri Dr Teh Hong Piow "wishes to relinquish his position as chairman" on Jan 1, 2019. Public Bank said this in a statement to Bursa Malaysia today. Lotte Chemical Titan shares declined after the company said net profit dropped to RM113.62 million in the second quarter ended June 30, 2017 (2QFY17)from RM404.03 million. At 5pm today, the KLCI closed at 1,760.03 points while Public Bank shares fell 26 sen to RM20.28. Lotte Chemical Titan dropped RM1.43 to RM4.70. Lotte Chemical Titan and Public Bank were the top and third-largest decliners across Bursa Malaysia respectively. Lotte Chemical Titan was also the seventh most-active stock. Inter-Pacific Research...

KUALA LUMPUR (July 28): The recent selling on US tech stocks has dampened the market sentiment on Bursa Malaysia. Nonetheless, the recovery on crude oil prices has triggered interest in selected oil and gas stocks that have been battered down of late. The benchmark FBM KLCI dropped 2.99 points to 1,767.08 points today. For the week, the FBM KLCI, however, gained 0.45% from 1,759.16 last Friday. Share prices were mostly lower today. The scoreboard shows that losers outnumbered gainers in a ratio of 456 to 326, while 411 stocks remained unchanged. Trading volume across the board was slightly higher today at 1.64 billion shares worth RM2.203 billion compared with 1.59 billion shares worth RM1.97 billion yesterday. Head of Research at Inter-Pacific Research Sdn Bhd Pong Teng Siew said buying interest in the local bourse was not strong as market sentiment was affected by the decline in US tech stocks, which created uncertainties ahead. "Investor confidenc...

KUALA LUMPUR (July 27): The FBM KLCI rose 4.07 points or 0.2% with Asian shares after the US Federal Reserve left interest rates unchanged. A 5pm, the KLCI closed at 1,770.07 points The KLCI traded between its intraday high and low at 1,772.03 and 1,765.84 points respectively. “The higher movement is in line with the rest of Asia after the Federal Reserve's decision,” Mercury Securities Sdn Bhd research head Edmund Tham told theedgemarkets.com. Across Asian share markets, Japan’s Nikkei 225 rose 0.15% while Hong Kong’s Hang Seng gained 0.71%. South Korea’s Kospi increased 0.36%. Reuters reported that stocks, bonds and commodities were all on a roll on Thursday as bulls scented a softening in the Federal Reserve's confidence on inflation that promised to keep US interest rates low for longer. The Federal Reserve kept its benchmark lending rate in a target range of one percent to 1.25 percent, as expected, and said it was on track to continue the...

KUALA LUMPUR (July 26): The FBM KLCI closed 2.66 points or 0.2% higher on bargain hunting amid speculation on the timing of Malaysia's 14th General Election (GE). At 5pm, the KLCI settled at 1,766 points. The KLCI traded between its intraday high and low at 1,766.7 and 1,760.82 points respectively. Bursa Malaysia saw 1.3 billion shares worth RM1.55 billion traded. There were 373 gainers and 378 decliners. Etiqa Insurance and Takaful head of research Chris Eng told theedgemarkets.com that the KLCI rose as investors pushed the index higher "possibly on insider information on when the election might be (held)". “The (Malaysian stock market) rally will continue as long as the global market does not collapse. Currently, the market is still foreign news driven,” Eng said. Malaysia held its GE13 on May 5, 2013. Across Asian share markets today, Japan’s Nikkei 225 rose 0.48% while Hong Kong’s Hang Seng was up 0.33%. South Korea’s Kospi, however,...

KUALA LUMPUR (July 25): The FBM KLCI rose 1.35 points or 0.1% as higher crude oil prices supported Malaysian shares. Crude oil prices rose after OPEC member Saudi Arabia pledged to limit exports starting next month. At 5pm, the KLCI closed at 1,763.34 points. KLCI-linked Petronas Dagangan Bhd added 14 sen to RM23.84 to become Bursa Malaysia's eighth-largest gainer. Hengyuan Refining Co Bhd climbed 24 sen to RM6.14 while Petron Malaysia Refining & Marketing Bhd was 15 sen higher at RM8.35. Hengyuan and Petron were Bursa Malaysia's fourth and sixth largest gainers respectively. Bursa Malaysia saw 1.68 billion shares worth RM1.63 billion traded. There were 295 gainers and 493 decliners. Reuters reported that in a meeting in St Petersburg on Monday, the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers discussed extending their deal to cut output by 1.8 million barrels per day (bpd) beyond March 2018 if necessary. I...

KUALA LUMPUR (July 10): The FBM KLCI fell 2.8 points or 0.2% despite optimism in global markets as investors sold KLCI-linked stocks like Petronas Chemicals Group Bhd and Genting Bhd. Analysts said investors at Bursa Malaysia appeared to be emphasising individual stocks instead of sectors. “It’s been very quiet and it seems that investors are focusing on individual stocks rather than particular sectors," Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew said. At 5pm, the KLCI closed at 1,757.13 points. Petronas Chemicals dropped 20 sen to RM6.89 while Genting Bhd fell 16 sen to RM9.03.   Petronas Chemicals and Genting Bhd were Bursa Malaysia's sixth and eighth-largest decliners respectively. Across Bursa Malaysia, 1.67 billion shares worth RM1.52 billion were traded. There were 556 decliners and 294 gainers. The most-actively traded stock was newly-listed Advancecon Holdings Bhd with some 132 million shares traded. The stock added 21.5...

KUALA LUMPUR (July 7): The FBM KLCI fell 10.6 points or 0.6% with Asian share markets after US equities declined overnight. At 5pm today, the KLCI closed at 1,759.93 points. Across Asia, Japan’s Nikkei 225 fell 0.32%, South Korea’s Kospi declined 0.33% while Hong Kong’s Hang Seng was down 0.49%. In overnight US share trades, the Dow Jones Industrial Average dropped 0.74%, S&P 500 fell 0.94% while Nasdaq Composite was 1% lower. Reuters reported that US stocks were sharply lower on Thursday after disappointing labour market data clashed with the possibility of a more hawkish Federal Reserve, while rising tensions in the Korean peninsula provided additional pressure. It was reported that Asian shares lost ground on Friday after a weak session on Wall Street, while global sovereign debt yields were elevated across the board on bets the European Central Bank is moving closer to unwinding its massive monetary stimulus. In Malaysia, Kenanga Investment Bank...

KUALA LUMPUR (July 6): The FBM KLCI gained 2.37 points or 0.1%, mainly on index-linked IOI Corp Bhd's 11th-hour share price spike. At 5pm, the KLCI closed at its intraday high at 1,770.53 points, after falling to its intraday low at 1,765.75 points. IOI Corp shares rose 15 sen to close at RM4.61 to become Bursa Malaysia's seventh-largest gainer. Earlier, the KLCI had fallen as investors sold stocks, including AMMB Holdings Bhd. At 5pm, AMMB shares fell 12 sen to RM4.99 to become Bursa Malaysia's fifth-largest decliner. AMMB shares fell on profit taking and after Malaysia's Retirement Fund (Inc) chief executive officer Datuk Wan Kamaruzaman Wan Ahmad said the fund was keen on purchasing Australia and New Zealand Banking Group Ltd’s stake in the proposed RHB Bank Bhd-AMMB Holdings Bhd merged entity.   Across Bursa Malaysia, 1.55 billion shares worth RM1.75 billion were traded. Decliners beat gainers at 485 against 329 respectively. Public I...

KUALA LUMPUR (July 5): The FBM KLCI jumped in the final trading minutes for a 6.08-point or 0.3% gain mainly on late buying of index-linked Hong Leong Bank Bhd shares. At 5pm, the KLCI closed at 1,768.16 points. Hong Leong Bank shares rose 56 sen to RM16.30 to become Bursa Malaysia's top gainer. Bursa Malaysia gainers outnumbered decliners at 420 against 361 respectively. A total of 1.49 billion shares valued at RM1.69 billion were traded. Malaysian shares rose today as Asian markets remained cautious after North Korea fired a missile that landed in Japanese waters yesterday. In Malaysia today, TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com that "there are still concerns across Asian markets over North Korea’s missile testing." Reuters reported that Asian share markets inched back into the black on Wednesday as investors wagered the latest flare-up of tensions on the Korean peninsula would f...

KUALA LUMPUR (July 4): The FBM KLCI fell 6.59 points or 0.4% with Asian markets after North Korea fired a missile, which led to geopolitical concerns. At Bursa Malaysia, the KLCI finished at 1,762.08 points at 5pm. Across Asian share markets, Japan’s Nikkei 225 fell 0.12% while Hong Kong’s Hang Seng was down 1.53%. US markets are closed on Tuesday for the Independence Day holiday. In Malaysia, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com that it was generally a “down day” for Asia. Reuters reported that Asian shares had turned lower as earlier gains were quashed by tensions on the Korean peninsula after North Korea fired a missile that landed in Japanese waters, deepening concerns over the isolated nation's nuclear capabilities. Across Bursa Malaysia, 1.9 billion shares worth RM1.8 billion were traded. Decliners outpaced gainers at 456 against 340 respectively. Petroliam Nasional Bhd (Petronas)-linked ...

KUALA LUMPUR (July 3): The FBM KLCI rose five points or 0.3% on bargain hunting and as Petronas-linked shares took the cue from crude oil gains. At 5pm, the KLCI finished at 1,768.67 points after falling to its intraday low at 1,756.37 points. Last Friday, the index fell 7.69 points to 1,763.67 points. Today, JF Apex Securities Bhd senior analyst Lee Cherng Wee told theedgemarkets.com: “There does not seem to be any fresh catalysts driving the market,[therefore] the market’s performance today can be attributed to bargain hunting following a decline in performance last week." Across Bursa Malaysia today, 1.76 billion shares worth RM1.74 billion were traded. There were 408 gainers against 404 decliners. Oil and gas-related shares were among Bursa Malaysia top gainers. The list included KLCI-linked Petronas Gas Bhd, Petronas Dagangan Bhd and Petronas Chemicals Group Bhd. Reuters reported that oil markets edged up on Monday, lifted by the first fall in...