MONEY MASTER

KUALA LUMPUR (Dec 31): The FBM KLCI closed 1.49 points or 0.09% lower on the final trading day of the year today after investors took profit and as they evaluated China's weaker purchasing managers' index (PMI) data. At Bursa Malaysia, the KLCI settled at 1,690.58 at 5pm for a year-to-date gain of 5.91%. Investors took profit today after the KLCI rose to its intraday high at 1,701.10 amid crude oil price gains. At 5pm, the biggest decliners, in percentage terms, among the KLCI's 30 component stocks were Maxis Bhd and Hong Leong Financial Group Bhd while gainers were led by MISC Bhd and Sime Darby Bhd. Maxis and Hong Leong Financial shares were down 2% and 1.59% respectively. MISC and Sime Darby Bhd gained 1.82% and 1.69% respectively. On the KLCI, Inter-Pacific Research Sdn Bhd head of research Pong Teng Siew wrote in a note today: "If corporate earnings continue their disappointing trajectory and turn in flat for the year, our expectati...

KUALA LUMPUR (Dec 5): The FBM KLCI joined other Asian stock indices in tracking losses on Wall Street yesterday amid plunging US Treasury yields and continued uncertainties over the US-China trade dispute. The benchmark index closed down 6.72 points or 0.4% at 1,688.27. It was mostly dragged by telco stocks, namely Maxis Bhd, Axiata Group Bhd and DiGi.com Bhd. “The decline was mostly influenced by external factors today,” said Vincent Khoo, head of research at UOB Kay Hian. Across Bursa Malaysia, 519 declining counters outpaced the 251 stocks that recorded gains. The most actively traded stocks were Bumi Armada Bhd, Techbond Group Bhd and Hibiscus Petroleum Bhd. Volume was weak, however, with a total of 1.75 billion shares traded with a total value of  RM1.52 billion. Across Asia, stocks followed their American counterparts, which were down as the spread between two- and 10-year Treasury yields were at their flattest level in over a decade, according...

KUALA LUMPUR (Nov 27): The FBM KLCI closed down 17.02 points or 1% at 1,684.97, dragged down mainly by Genting Malaysia Bhd (GENM) and Genting Bhd's share price drop. China-US trade war concerns and Brent crude oil's price fall below US$60 a barrel could have also hit Malaysian market sentiment. Genting Bhd owns a 49.45% stake in GENM. theedgemarkets.com, quoting GENM, reported today that Fox Entertainment Group LLC, Twentieth Century Fox Film Corp, FoxNext LLC (collectively referred to as FOX) issued a notice, in which FOX terminated a Memorandum of Agreement (MoA) with GENM and claimed some US$46.2 million (about RM193.6 million) in accelerated payments. It was reported that GENM has pursued cause of action against FOX for breach of contract, and breach of the implied covenant of good faith and fair dealing, among others. At 5pm, GENM closed down 60 sen or 16.67% at RM3 while Genting Bhd fell 52 sen or 7.54% to RM6.38. GENM was the top decliner, ...

KUALA LUMPUR (Nov 22): The FBM KLCI rose 0.25 point or 0.01% to close at 1,695.62 after volatile trade amid concerns on rising US interest rates besides global trade tension and economic growth. At 5pm, the KLCI closed at 1,695.62 after rising to its intraday high at 1,701.74 and falling to its intraday low at 1,689.03. CIMB Research analyst Nick Foo Mun Pang said CIMB expects the KLCI to see sideways movement in the near term, until there is greater clarity on the market’s direction. “The index will see a range bound move until a clear breakout either up or down takes place,” Foo wrote in a note today. Across Bursa Malaysia today, 1.75 billion shares worth RM1.44 billion were exchanged. Top gainer was Fraser & Neave Holdings Bhd while leading decliner was Pos Malaysia Bhd. Rising US interest rates, besides global trade tension and economic growth concerns dictated Asian share trades. Reuters reported that Asian shares seesawed in cautious trading on ...

KUALA LUMPUR (Nov 21): The FBM KLCI fell 15.34 points or 0.9% today to close at 1,695.37 after US equities dropped overnight on Tuesday with crude oil prices amid world economic growth concerns. Reuters reported that US stocks sold off for a second day on Tuesday as energy shares dropped with oil prices, and retailers including Target and Kohl's sank after weak earnings and forecasts, fueling worries about economic growth. Today, it was reported that Asian stocks slipped as intensifying concerns about global economic growth gripped financial markets, sending Wall Street shares tumbling and driving the safe haven dollar up from a two-week low. In Malaysia, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told  theedgemarkets.com: “The KLCI was dragged down by the poor performance seen overnight in US markets, which reflects the globally weak sentiment on equities." At 5pm, worst-hit among the 30 KLCI stocks, in percentage terms, was...

KUALA LUMPUR (Nov 19): The FBM KLCI gained 4.33 points or 0.25% with major Asian equity markets and as Malaysian banking and plantation shares rose. The ringgit strengthened. At 5pm, the KLCI closed at 1,710.71 points, supported by gains in banking stocks like Public Bank Bhd and CIMB Group Holdings Bhd. Gains in plantation stocks like Sime Darby Plantation Bhd and PPB Group Bhd also supported the KLCI's rise. “The index movement was influenced mostly by banks such as CIMB, Public Bank, and Malayan Banking Bhd as well as plantation stocks like Sime Darby Plantation and PPB as palm oil futures recovered," MIDF Amanah Investment Bank Bhd research head Mohd Redza Abdul Rahman told theedgemarkets.com. Reuters reported that Malaysian palm oil futures rose more than 1.6 percent on Monday as market stabilised after being oversold last week. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange rose 1.62 percent to R...

KUALA LUMPUR (Nov 16): The FBM KLCI rose 0.72% for a third consecutive day of gains amid continued expectations of slowing trade tensions between the US and China ahead of the G20 meeting later this month. The benchmark index trailed overnight gains at Wall Street to open higher today, and stayed flat in the green before closing up 12.17 points at 1,706.38. Reuters reported that Asian shares had started firm after reports the US might pause on further China tariffs gave Wall Street a fillip, but a near 17% plunge in Nvidia's stock tempered the mood. Across Bursa Malaysia, gainers led decliners by 450 counters against 345, whereas 390 counters traded unchanged. Some 1.85 billion shares worth RM1.89 billion exchanged hands. An analyst at AmInvest Research attributed the market-wide gain to "short-term optimism based on global market movements and news on international trade". "People are expecting [US president Donald] Trump and [China...

KUALA LUMPUR (Nov 15): The FBM KLCI closed up 5.8 points or 0.34% at 1,694.21 as anticipation of China-US trade war de-escalation spurred Asian stock markets' rise. In China, Hong Kong’s Hang Seng gained 1.75% while the Shanghai Stock Exchange Composite climbed 1.36%. Elsewhere across Asia, South Korea’s Kospi rose 0.97%. Reuters reported that Asian stocks rose on Thursday, cheered by a bounce in Chinese equities on signs China and the US may be taking steps to de-escalate their bitter trade dispute, while oil prices resumed their retreat on fears of oversupply. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.7%. In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com the KLCI appeared to have bottomed out as most of the negative news flow, such as the ringgit's weakening against the US dollar as well as the decline in crude oil prices, have been factored in by investors. “I think the ind...

KUALA LUMPUR (Nov 14): The FBM KLCI made an eleventh hour gain to close at an intra-day high after being in the negative zone for most of the day, weighed down by weak crude oil prices, which impacted market sentiment. At 5pm, the benchmark index closed at 1,688.41 points, up 0.84 points or 0.05% after slipping to a low of 1,678.82 today. CIMB Research analyst Nick Foo Mun Pang told theedgemarkets.com that apart from weak crude oil prices, investors anticipate third quarter corporate earnings to be tepid. "It is widely expected that third quarter earnings are not going to be exciting. Also in the near term, investors are cautious that global growth is slowing down due to global trade protectionism.    "Technically, the KLCI movement is showing a lower low and lower high formation, a pattern that indicates the KLCI would likely be in the downtrend. Even if there is bargain hunting in the near term, the index rebound will be capped because overall se...

KUALA LUMPUR (Nov 13): The FBM KLCI fell 8.57 points or 0.51% to close at 1,687.57 in tandem with certain Asian equity indices following US stocks' overnight tumble. At 5pm today, the KLCI extended losses after the index closed down 11.95 points or 0.7% yesterday. Among Asian equity indices today, Japan’s Nikkei 225 fell 2.06% while South Korea’s Kospi decreased 0.44%. In Malaysia today, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com: “The KLCI joined the regional indices to close lower today and extended losses for three consecutive days, mainly due to the spillover effect from the weakness in the US stock market." “(On the) Domestic front, the KLCI was also hit by the weakening ringgit against the US dollar, coupled with lower crude oil and crude palm oil prices,” Leong said.    Bloomberg reported that the ringgit fell to the weakest in a year after the dollar rallied and crude prices failed to find a floor. It ...

KUALA LUMPUR (Nov 12): The FBM KLCI closed down 11.95 points or 0.7% at its intraday low. Analysts said investors were concerned over the impact of crude oil prices on Malaysian government finances as they evaluated the depreciating ringgit against a strengthening US dollar. At 5pm, the KLCI closed at 1,696.14. Across Bursa Malaysia, 1.63 billion shares worth RM1.32 billion were traded. In currency markets, the ringgit weakened to 4.1880 against the US dollar at the time of writing after trading between 4.1797 and 4.1890 today. “Our Budget 2019 [allocation] is based on an average crude oil price of US$70 per barrel. But now that crude oil prices have fallen to the US$70 range, if it continues to tank below US$70, we are at risk of not meeting the Budget deficit of 3.4% of gross domestic product,” Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com. Reuters reported that front-month Brent crude futures, a benchmark for global oil p...

KUALA LUMPUR (Nov 9): Taking cue from the weak regional sentiment, the FBM KLCI dropped 13.33 points or 0.77% at the closing bell today, to end the week at 1,708.09 points. The fall is smaller relative to other markets in the region. Across Asia, Japan's Nikkei 225 dropped 1.05%, South Korea's Kospi fell 0.31% while Hong Kong’s Hang Seng was down 2.39%. The US Federal Reserve held interest rates steady on Thursday but investors did not breathe a sigh of relief simply because of the lingering concern another rate hike is possible as the American economy continues to show healthy growth, according to analysts. The US Federal Reserve has raised interest rates three times this year and is widely expected to do so again next month, Reuters reported. Reuters reported that Asian stocks pulled back from a one-month high on Friday as the US Federal Reserve looked set to deliver another interest rate hike next month, paring gains made earlier this week a...

KUALA LUMPUR (Nov 8): Malaysian stocks closed higher for second straight day today as foreign investors continued to buy into market. The benchmark FBM KLCI ended 6.54 points or 0.38% higher at 1,721.42 points, led by telecommunication stocks. The gain also mirror the moves globally after Wall Street's overnight rally. According to Inter-Pacific Securities research head Pong Teng Siew, foreign buying helped propped up the local stock market, as well as gains in Maxis Bhd, DiGi.com Bhd and Axiata Group Bhd. He believes that foreign funds are starting to trickle back into the market as valuations of some bluechips are again turning attractive, adding that the strengthening of the ringgit against the US dollar helped to stabilise sentiments. At the time of writing, the ringgit was trading at 4.1595 to the greenback. Additionally, Pong said the recovery in oil prices has helped the market. Brent crude futures rose 0.42% to US$72.37 per barrel at the ...

KUALA LUMPUR (Nov 7): The FBM KLCI closed in the positive territory today after gaining traction in the final trading hour, before closing up 6.08 points, thanks to gains made by Malaysia Airports Holdings Bhd (MAHB). "The index hovered mostly in positive territory today, underpinned mainly by gains by MAHB after it had recovered most of the previous session's sell down following the government's announcement of a proposed first airport REIT," Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com when contacted. MAHB rose 7.23% or 55 sen to close at RM8.16, after 5.55 million shares were done. The counter declined on Monday after the government said it intends to set up the world's first "airport real estate investment trust (REIT)" when tabling the recent Budget 2019 last Friday. At 5pm, the FBM KLCI settled at 1,714.88 points, with 2.32 billion shares traded for a value of RM2.5 billion. Gainers ...

KUALA LUMPUR (Nov 5): Malaysian stocks closed slightly lower today, dragged down by gaming stocks amid lingering worries over the impact of a hike in casino duties – the first in the last 20 years. The negative performance was also in tandem with regional peers as optimism over a potential US-China trade deal receded. Investors booked profits as caution set in ahead of Diwali, with the FBM KLCI settling 5.07 points or 0.3% lower at 1,708.80 points. Shares of Genting Malaysia Bhd (GENM) plunged 20.48% or 93 sen in one day to close at RM3.61 as investors reacted to last Friday's Budget 2019 announcement that casino duties will be raised to 35% from 25% and an increase in the flat rate casino licence fee to RM150 million from RM120 million per year. A total of 379.04 million shares changed hands, making GENM the most active stock on Bursa Malaysia today. Its market capitalisation fell to RM20.41 billion from RM25.67 billion last Friday. Shares of its paren...

KUALA LUMPUR (Nov 2): The FBM KLCI gained 6.95 points or 0.41% to close at 1,713.87 after Asian shares ended higher and as Malaysia unveiled its Budget 2019. Asian equities rose on news the US is taking steps to resolve a damaging trade war with China. Reuters reported that Asian shares rocketed to three-week highs on Friday while the dollar softened on a report that US President Donald Trump is taking steps to resolve a damaging trade war with China that has cast a pall over the global economy and financial markets recently. It was reported that MSCI's broadest index of Asia-Pacific shares outside Japan jumped 2.7 percent to hit its highest level since Oct 10. It is up 6.4 percent on the week, on course to mark its best weekly performance in three years. Among Asian stock indices today, Japan’s Nikkei 225 gained 2.56%, Hong Kong’s Hang Seng gained 4.21% while South Korea’s Kospi rose 3.53%. In Malaysia, JF Apex Securities Bhd said the positive perfo...

KUALA LUMPUR (Nov 1): The FBM KLCI fell 2.35 points or 0.14% to close at 1,706.92 points today as risk-averse investors held back ahead of Malaysia's Budget 2019 announcement tomorrow. Today, Areca Capital Sdn Bhd CEO Danny Wong told theedgemarkets.com that Malaysian stock market sentiment is uncertain currently ahead of the Budget announcement. Globally, there is also lingering uncertainty due to the US-China trade dispute, Wong said. “Investors are holding back ahead of Budget 2019, which makes this week crucial for the local market," Wong said. Across Bursa Malaysia today, 2.18 billion shares worth RM1.66 billion were traded. Top decliners included Dutch Lady Milk Industries Bhd, Fraser & Neave Holdings Bhd and Ajinomoto (M) Bhd while gainers were led by British American Tobacco (M) Bhd. Asian stock markets ended mixed. In China, Hong Kong’s Hang Seng gained 1.75% while the Shanghai Stock Exchange Composite rose 0.13%. Elsewhere across As...

KUALA LUMPUR (Oct 31): The FBM KLCI rose with Asian shares today, driven by bargain hunting. At 5pm, the KLCI rose 23.33 points or 1.38% to close at 1,709.27 points. Gainers led losers by 611 to 176, while 430 counters traded unchanged. Top gainers included Ajinomoto (Malaysia) Bhd, Dutch Lady Milk Industries Bhd and Tenaga Nasional Bhd. "The Malaysian stock market is oversold and I expect the market shall continue to recover some losses as bargain hunters will continue to pick up [those] at cheaper valuations," Malacca Securities head of research Victor Wan told theedgemarkets.com . "Key level of resistance to look at is 1,720. Conversely, support levels can be identified at 1,680 and 1,700," Wan added. Across Asia, Japan's Nikkei rose 2.16%, while Hong Kong's Hang Seng rose 1.6% and South Korea's Kospi climbed 0.74%. Reuters reported that Asian stocks clawed up from 20-month lows on Wednesday amid pledges by China to sup...

KUALA LUMPUR (Oct 30): The FBM KLCI closed up 2.21 points or 0.13% at 1,685.94 points today, as investor sentiment remained cautious and uncertain on domestic and global factors. “It may have just been a technical rebound as the underlying tone is still volatile,” said Kenny Yee, head of research at Rakuten Trade Sdn Bhd. Yee told theedgemarkets.com that Wall Street stock movements are still likely to lead the way for local investors, while they keep a lookout for Budget 2019 to be announced on Friday. Market breadth was slightly positive with 390 counters outpacing 316 decliners. A total of 1.94 billion shares were traded for RM1.58 million. Gainers were led by Fraser & Neave Holdings Bhd, Dutch Lady Milk Industries Bhd and Airasia Group Bhd, while top decliners were Nestle (Malaysia) Bhd, Ajinomoto (Malaysia) Bhd and United Plantations Bhd. Most actively-traded counters were Datasonic Group Bhd, Seacera Group Bhd and Sapura Energy Bhd. Across...

KUALA LUMPUR (Oct 29): The FBM KLCI managed to close in positive territory today after six straight days of decline, thanks mainly due to buying at the 11th hour in IHH Healthcare Bhd. The key index closed 0.67 points or 0.04% higher at 1,683.73. Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said there were still uncertainties in the market due to external issues like the US-China trade war and the mid-term elections in the US, and also domestic matters. “Looking at the current [global] market, it’s still uncertain and volatile as the direction is still not clear,” Wong told theedgemarkets.com, stressing that there is a need for a clearer resolution on the trade war. “Basically, investors are waiting for the D-day on Nov 2 or Nov 5,” said Wong, adding that IHH, DiGi.Com Bhd and Sime Darby Bhd contributed to the lift of the KLCI today. Top gainer IHH closed 26 sen or 5.42% higher at RM5.06, while losers were led by Malayan Banking ...

KUALA LUMPUR (Oct 26): The FBM KLCI closed at 1,683.06 points today, down 49.08 points or 2.83% for the week no thanks to current weak sentiment globally. "I don't think we've seen the bottom yet," said TA Securities senior technical analyst Stephen Soo, who opined that the choppiness seen in the local market is set to continue into next week. Share prices across the board were mixed with 414 losers versus 347 gainers. Total trading volume dropped below two billion mark at 1.82 billion for RM1.68 billion. Most actively traded counters were Seacera Group Bhd, Gamuda Bhd and Nova MSC Bhd, while top decliners were KESM Industries Bhd, Ajinomoto (Malaysia) Bhd and Malaysian Pacific Industries Bhd. Gainers were led by Selangor Properties Bhd, which announced a proposed selective capital repayment scheme to pave the way for privatisation, British American Tobacco (Malaysia) Bhd and Batu Kawan Bhd. Globally, stocks have been sliding towards the...

KUALA LUMPUR (Oct 25): Malaysian stocks were not spared a sweeping sell-off on Thursday as Asian markets tracked overnight losses on Wall Street, with the Dow Jones Industrial Average (DJIA) tumbling more than 600 points to wipe out its year-to-date gain. Earlier in the morning, the benchmark FBM KLCI plunged to a low of 1,670.34 points, and traded below the 1,690-point level for the rest of the day. It recouped part of its losses to finish at its intra-day high of 1,686.59 points for a 3.45-point or 0.2% decline. Dialog Group Bhd, Sime Darby Bhd, and Genting Bhd were the three biggest losers among the component stocks. The FBM Small Cap index plummeted another 253.32 points or 1.97% today to close at 12,592.22 points. Inter-Pacific Research Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com that small cap stocks — generally the least liquid — tend to suffer the biggest drops as investors enter into a panic-selling mode. "Last night wa...

KUALA LUMPUR (Oct 24): Selling persisted across the board on Bursa Malaysia, pulling the FBM Small Cap Index down to a five-year low of 12,845.54 points — the lowest closing since March 2013 — falling 245.74 points, or 1.88%. The FBM KLCI failed to sustain its early gain to close at 1,690.04 points, down 7.56 points or 0.45%. The three component stocks leading the fall of the KLCI, in percentage terms, were Sime Darby Bhd, DiGi.com Bhd, and Telekom Malaysia Bhd, which has tumbled 64% to an almost eight-year low of RM2.22. Across the local bourse, share prices were mostly lower at today’s closing bell with 620 decliners outstripping 245 gainers, while 348 counters were unchanged. Trading volume stood at a total of 2.25 billion shares worth RM1.87 billion, compared with Tuesday’s 2.01 billion shares worth RM2.01 billion.   The technology sector saw the biggest drop today. The technology index fell 3.06% or 1.13 points to 35.86 points followed by the e...

KUALA LUMPUR (Oct 23): The FBM KLCI sank 24.87 points or 1.44% today to close below the 1,700-point psychological level for the first time since July 11. The benchmark index had opened the day at 1,721.50 and rose to 1,721.91 before retreating thereafter to close at its intra-day low of 1,697.60. The KLCI has declined for 13 days out of the 17 trading days in October thus far, for a fall of nearly 100 points from its closing of 1,791.10 on Sept 28. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the downtrend this month is an unusual phenomenon compared with the past few years. He believes that the index could soon be heading towards its next support level of 1,660. "Generally, in the past couple of years, the October month is quite positive mainly due to the budget rally. But with the change of the government this year, and the government's hints of a less positive budget, I think there will be no budget rally this year. ...

KUALA LUMPUR (Oct 22): The benchmark FBM KLCI closed 9.67 points or 0.56% lower at 1,722.47 points on Monday, marking its third straight day of decline as investor sentiments were marred by ongoing external uncertainties. The index has lost 1.04% since it closed  at 1,740.59 points on Wednesday, and is down 4.14% on a year-to-date basis. Decliners outpaced gainers at 497 versus 315, while 354 counters settled unchanged. Total trading volume stood at 1.95 billion shares worth RM1.68 billion, lower than Friday's 2.41 billion shares worth RM2.3 billion.  “Investors in the market are still not too clear about [directions of] present issues [like] the US-China trade tension, the unstable geopolitical situation in the Middle East and some of the currency movements. It could also be due to talks about US’ December rate hike,” he explained. Wong also noted that the months of October and November are typically when fund managers move to the sidelines, in vi...

KUALA LUMPUR (Oct 18): The FBM KLCI fell 0.15% today in tandem with the day's general negative performance across the region. The benchmark index closed at 1,738.01, down 2.58 points from yesterday. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the decline reflected regional sentiments. "This is mainly due to concerns on rising interest rates. We also saw the China stock market tumble, as the Chinese yuan depreciated against the dollar by about 0.2%. "In Malaysia, there were some extended profit-taking as well," Leong told theedgemarkets.com. Reuters reported that US Federal Reserve's minutes for its September meeting showed all policy makers agreed to raise key interest rates for a third time in 2018, knocking global sentiments. The report added that heavy selling of Chinese shares also soured confidence in the Asian market day, leading to an extension of losses in Japanese stocks. Japan's Nikkei 225 closed 0...

KUALA LUMPUR (Oct 17): The FBM KLCI gained 3.75 points or 0.22% today with Asian shares after US equities' overnight rise. Reuters reported that US stocks surged more than 2 percent on Tuesday after upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs and solid economic data, as equities rebounded from a recent sharp sell-off. It was reported that Asian equities got some welcome relief on Wednesday after upbeat US earnings reports drove a rebound on Wall Street and helped restore a little faith in emerging market stocks and currencies. At Bursa Malaysia today, the KLCI closed at 1,740.59 points. Across Asia, Japan’s Nikkei 225 closed 1.29% higher while South Korea’s Kospi rose 1.04%. In China, the Shanghai Stock Exchange Composite climbed 0.6% while Hong Kong markets were closed today for the Chung Yeung Festival holiday. In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com: ...

KUALA LUMPUR (Oct 16): The FBM KLCI gained 8.1 points or 0.47% to close at its intraday high after a sudden surge in the final trading hour. At a glance, the KLCI surged as prices of index-linked stocks Hong Leong Bank Bhd and MISC Bhd spiked. At 5pm, the KLCI closed at 1,736.84 points. Hong Leong Bank shares rose 44 sen to RM20.94 while MISC added 13 sen to RM5.68. Both Hong Leong Bank and MISC ended among Bursa Malaysia top gainers. “The interest has shifted to specific stocks, including some blue chips in the banking and transportation logistics sectors, signalling that it is now time to look at individual companies rather than a sectoral approach,” Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com. Consumer stocks Carlsberg Brewery Malaysia Bhd, Dutch Lady Milk Industries Bhd and Heineken Malaysia Bhd ended among Bursa top decliners as investors’ attention appeared to have shifted away from consumer stocks to selec...

KUALA LUMPUR (Oct 15): The FBM KLCI closed two points or 0.12% lower after Asian equities declined on US-China trade dispute and US interest rate hike concerns. At 5pm, the KLCI closed at 1,728.74 points. In China, the Shanghai Stock Exchange Composite dropped 1.49% while Hong Kong’s Hang Seng fell 1.38%. Elsewhere across Asia, Japan’s Nikkei 225 declined 1.87% while South Korea’s Kospi fell 0.77%. In Malaysia, JF Apex Securities Bhd head of research Lee Chung Cheng said it was an uneventful day for the KLCI. Lee said investors had probably taken a wait-and-see stance in anticipation of greater policy clarity, against a background of various external factors. “Things are rather flat today. This might be due to investors holding back their positions ahead of the (tabling of the half-term review of the) 11th Malaysia Plan and the upcoming Budget announcement. “We expect the index to be volatile in the near term, due to external issues like the US rate hike...

KUALA LUMPUR (Oct 12): The FBM KLCI closed 22.25 points or 1.3% higher on bargain hunting and as Asian stock markets tracked US equity futures' rise. At 5pm, the KLCI ended at 1,730.74 points as KLCI-linked stocks Petronas Gas Bhd, Tenaga Nasional Bhd and Malayan Banking Bhd ended among Bursa Malaysia top gainers. The KLCI closed higher today on bargain hunting after the 30-stock index fell 26.69 points or 1.54% yesterday. Today, Asian stock markets tracked US equity futures' rise. Japan's Nikkei 225 closed up 0.46%, South Korea's Kospi increased 1.51% while Hong Kong’s Hang Seng rose 2.12%. At 5:.04pm, the US' S&P 500 and Nasdaq futures rose 21.5 and 84 points respectively. At 5.05pm, the Dow Jones Industrial Average futures climbed 174 points. In Malaysia, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew said the Malaysian stock market's direction next week depends on US stocks' performance today (Friday...

KUALA LUMPUR (Oct 11): The FBM KLCI dropped 26.69 points or 1.54% today to end at 1,708.49 in tandem with Asian shares on what appeared to be a knee-jerk reaction to US stocks' overnight tumble. At Bursa Malaysia today, the five KLCI stocks leading the fall of the KLCI, in percentage terms, were Genting Malaysia Bhd, IHH Healthcare Bhd, Digi.Com Bhd, CIMB Group Holdings Bhd and Petronas Gas Bhd. Across Bursa Malaysia, 3.1 billion shares worth RM3.7 billion were traded. Top decliners included United Plantations Bhd, Nestlé (M) Bhd and Petronas Gas. Top gainers included Gamuda Bhd, Top Glove Corp Bhd, and Axiata Group Bhd. Across Asia, Reuters reported that share markets in Asia plunged to a 19-month low on Thursday after Wall Street's worst losses in eight months led to broader risk aversion, a rise in market volatility gauges and concerns over overvalued stock markets in an environment of rapidly rising dollar yields. MSCI's broadest index of...

KUALA LUMPUR (Oct 10): The FBM KLCI fell 38.97 points or 2.2% as anticipation that the Government will devise new taxes and sell assets to reduce debt affected market sentiment. Expectation that Malaysia will reform crucial sectors, and external factors including the International Monetary Fund's (IMF) reduction of its global economic growth estimate could have also hit Malaysian market sentiment. At 5pm, the KLCI settled at 1,735.18 after falling to its intraday low at 1,732.5. CIMB Research analyst Ivy Ng Lee Fang wrote in a note today: "At the various tracks in the conference (Malaysia: A New Dawn Investors' Conference), we gathered that the Ministries are working on potential reforms for the aviation, agriculture, power and property sectors. The potential changes could lead to short-term uncertainty for some listed companies in the near-term, but could be positive for the market in the medium- to long-term if the reforms yield results through...

KUALA LUMPUR (Oct 9): The FBM KLCI closed down 1.6 points or 0.09% along with Asian shares after China allowed its currency to depreciate. The yuan's devaluation raised concerns on China's economic growth. At 5pm, the KLCI settled at 1,774.15 points. Across Asia, Japan’s Nikkei 225 closed 1.32% lower while Hong Kong’s Hang Seng fell 0.11%. "With Chinese economic momentum continuing to weaken alongside increasing pressure from the United States, currency weakness is the obvious release valve," Reuters quoted JPMorgan analysts as saying in a note. In Malaysia, JF Apex Securities Bhd head of research Lee Chung Cheng told theedgemarkets.com that trading activities were “muted” today, and it is expected to be the same for the rest of the week. Lee added: "There are external factors affecting regional market sentiment." Reuters reported that Asian shares hit 17-month lows on Tuesday as China allowed its currency to slip amid recent ...