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KUALA LUMPUR (March 30): The FBM KLCI closed up 7.11 points or 0.4% on what appeared to be institutional investors' window-dressing activities at the end of 2018’s first quarter. At 5pm today, the KLCI closed at 1,863.46. Across Bursa Malaysia, 1.82 billion shares were traded for RM1.9 billion. “Most government-linked companies seem to be the ones being traded higher, which could be due to window dressing,” Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com. He said sentiment across Bursa Malaysia seemed subdued as the total volume of shares traded remained below the two billion mark. Yesterday's share trade volume was about 1.88 billion shares. Today, Bursa Malaysia top gainers included KLCI-linked stocks Nestle (M) Bhd and Petronas Dagangan Bhd. The most-actively traded stocks included Sapura Energy Bhd, PUC Bhd and SKH Consortium Bhd. Across Asia, Japan's Nikkei 225 rose 1.4% while South Korea's Kos...

KUALA LUMPUR (March 29): The FBM KLCI closed 1.52 points or 0.1% lower on profit taking after rising with Asian shares earlier. Reuters reported that Asian shares erased losses to close higher on media reports that Japan had sounded out North Korea's government about a bilateral summit, and that Pyongyang had also discussed the possibility of a broader meeting with other global leaders. It was reported that Beijing had said on Wednesday that North Korea's leader Kim Jong Un had pledged his commitment to denuclearisation at a meeting with Chinese President Xi Jinping. At Bursa Malaysia today, the KLCI closed at 1,856.35 at 5pm after volatile trade. The KLCI's intraday high and low were at 1,860.56 and 1,854.50 respectively. At 5pm, the KLCI ended lower after investors sold index-linked stocks including Press Metal Aluminium Holdings Bhd and Genting Bhd. Across Bursa Malaysia, 1.89 billion shares worth RM2.09 billion were traded. ...

KUALA LUMPUR (March 26): The FBM KLCI pared losses to close 5.31 points or 0.3% lower while Asian shares erased losses to end higher. World markets took cue from US stock futures' rise as China-US trade spat concerns ebbed. Reuters reported that world stocks came off six-week lows and US stock futures jumped on Monday on optimism that the United States and China are set to begin negotiations on trade, easing fears about a trade war between the world's two largest economies. MSCI's world equity index, which tracks shares in 47 countries, turned positive on the day, having earlier hit its lowest level since Feb 9, after The Wall Street Journal reported that US Treasury Secretary Steven Mnuchin was considering a visit to Beijing to begin negotiations. US stock futures rose more than 1 percent on the news. At Bursa Malaysia today, the KLCI closed at 1,859.91 at 5pm after the index fell to its intraday low at 1,852.55 points. Across Asia, Japan'...

  KUALA LUMPUR (March 23): US President Donald Trump's move to impose import tariff on China sparked a strong selling wave in Asia, particularly shares in China and Hong Kong. Bursa Malaysia is not spared from the dampened sentiment. Small-cap counters were mainly the selling targets as reflected by the bigger fall of 1.76% on the FBM Small Cap Index versus the barely 0.62% drop on the benchmark FBM KLCI. The FBM KLCI dropped 11.65 points to end the week at 1,865.22 points, after it climbed to a three-year high yesterday. The benchmark index had hit an intra-day low of 1,857.26 points earlier today before paring some losses. The index is down 1.02% week-on-week. There is sea of red across Bursa. Losers outnumbered gainers by 827 versus 190, while 320 counters were unchanged. A total of 2.09 billion shares worth RM2.15 billion were traded. China is leading the fall today, with over 400 stocks hitting limit-down. The Shanghai Composite index slid 3.6% to 3,...

KUALA LUMPUR (March 22): The FBM KLCI gained 11.07 points or 0.6%, mainly on Hong Leong Bank Bhd and Malayan Banking Bhd's (Maybank) 11th-hour share price spike to close among Bursa Malaysia top gainers. The KLCI rose as the ringgit strengthened despite the US' interest rate hike, which has been priced in by investors. At 5pm, the KLCI closed at its intraday high of 1,876.87, which is the highest since 2015. Hong Leong Bank shares rose 52 sen to RM19.22 while Maybank was 26 sen higher at RM10.54. “There is no surprise from the US Fed rate hike," JF Apex Securities Bhd head of research Lee Chung Cheng said. CNBC reported that US central bankers, led by Jerome Powell in his first meeting as chairman, approved the widely expected quarter-point hike that puts the new benchmark funds rate at a target of 1.5 percent to 1.75 percent. Meanwhile, Reuters reported that the US Federal Reserve raised interest rates on Wednesday and forecast two more hikes...

KUALA LUMPUR (March 21): The FBM KLCI gained 9.41 points or 0.5% to close at its intraday peak, lifted mainly by Malaysia banking and consumer blue-chip stocks. At 5pm, the KLCI finished at 1,865.80 as KLCI-linked banking stocks Hong Leong Financial Group Bhd and Public Bank Bhd besides consumer stock Nestle (M) Bhd rose to close among Bursa Malaysia top gainers. Hong Leong Financial gained 20 sen to RM19.20 while Public Bank rose 16 sen to RM23.68. Nestle surged RM4.70 to RM132.60. Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com that the climb in the KLCI today was led mainly by substantial gains seen particularly in banking and consumer stocks. “This is the first day that the KLCI has broken out, but we will need several days of sustained climb above 1,860 points for it to be said to be holding, but that might not be quite the case yet,” said Pong. Elsewhere in Asia, Hong Kong’s Hang Seng ended 0.43% lower while ...

KUALA LUMPUR (March 20): The FBM KLCI rose 8.45 points or 0.5% after investors bought Malaysian blue chips including Public Bank Bhd and MISC Bhd shares at the eleventh hour. The KLCI had erased losses in tandem with Asian share markets as Bursa Malaysia's technology, REIT and small cap indexes closed in the red. At 5pm, the KLCI closed at 1,856.39 after falling to its intraday low at 1,841.47. At 5pm, Public Bank shares climbed 40 sen to RM23.52 while MISC increased 25 sen to RM7.30 among Bursa Malaysia top gainers. Bursa Malaysia top decliners included Nestle (M) Bhd, Ajinomoto (M) Bhd and KLCC Stapled Group. Among Bursa Malaysia indexes, the largest decliner was the technology index at 2.29% followed by the REIT index at 2.09%. The small cap index was 1.06% lower. The KLCI had tracked Asian share gains. Loui Low, who is head of retail research at Hong Leong Investment Bank Bhd, said positive sentiment was seen across major regional equity indexes in ...

KUALA LUMPUR (March 19): The FBM KLCI closed 1.55 points or 0.1% higher as share trade volume across Bursa Malaysia fell below two billion. The KLCI erased losses to finish at 1,847.94 on bargain hunting and as Asian share markets ended mixed. Japan's Nikkei 225 dropped 0.9%, South Korea's Kospi fell 0.76% while Hong Kong’s Hang Seng erased losses to close 0.04% higher. Reuters reported that Asian share markets traded mixed on Monday as caution gripped investors in a week in which the Federal Reserve is likely to hike US interest rates and perhaps signal that as many as three more lie in store for the rest of the year. The Federal Reserve is scheduled to announce on Wednesday (March 21) the US' interest rate decision. In Malaysia today, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com: “Market up because of the Friday close of the US Dow Jones Industrial Average, and the backdrop was generally okay for the gl...

KUALA LUMPUR (March 16): The FBM KLCI increased 1.12 points or 0.1% as index-linked banking and telecommunication stocks rose. At 5pm, the KLCI closed at 1,846.39 on gains in stocks including Hong Leong Financial Group, RHB Bank Bhd, Maxis Bhd and Telekom Malaysia Bhd. The KLCI erased losses after falling to its intraday low at 1,838.40 along with Asian share markets. Across Asia, Japan’s Nikkei 225 closed 0.58% lower while Hong Kong's Hang Seng fell 0.12%. South Korea's Kospi erased losses to rise 0.06%. Reuters reported that Asian stocks slid on Friday as reports of more chaos in the Trump administration tested investors' nerves, already frayed by fears that US tariffs could hurt the global economy and trigger a trade war. In Malaysia, Malacca Securities Sdn Bhd head of research Victor Wan told theedgemarkets.com that investors remain cautious on a possible global trade war due to US' proposed import taxes. “Unfortunately there is less po...

KUALA LUMPUR (March 15): The FBM KLCI dropped 11.79 points or 0.6% after investors sold KLCI-linked Hong Leong Financial Group Bhd shares in the final trading minutes. The Malaysian stock market could have also taken cue from news that Parliament may be dissolved by the end of this month to pave the way for Malaysia's 14th general election (GE14). At 5pm today, the KLCI closed at its intraday low at 1,845.27. Hong Leong Financial shares fell 36 sen to RM18.74. Other KLCI-linked decliners included Nestle (M) Bhd and Hong Leong Bank Bhd. Reuters reported that Parliament may be dissolved on March 28, 29 or 30, making way for a general election that must be held by August. It said a new government would be in place before mid-May, suggesting that the election date could be set for the end of April or early May. Reuters reported that analysts and ruling party sources told Reuters this week Prime Minister Najib Razak was confident of an election victory and th...

KUALA LUMPUR (March 14): The FBM KLCI dropped 6.97 points or 0.4% in tandem with Asian share losses. Global markets took cue from the US' planned tax on Chinese imports and US President Donald Trump's move to fire his Secretary of State Rex Tillerson. At Bursa Malaysia, the KLCI ended at 1,857.06. The KLCI fell as KLCI-linked Nestle (M) Bhd topped Bursa Malaysia decliners. KLCI-linked decliners included IOI Corp Bhd and Axiata Group Bhd. Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com that “the worry is about US President Donald Trump’s trade policy." Wong said investors are concerned that the US' planned import tax may worsen world trade. Such sentiment led to Asian share losses today. Japan's Nikkei 225 dropped 0.87% while South Korea's Kospi fell 0.34%. In China, Hong Kong’s Hang Seng decreased 0.53% while the Shanghai Stock Exchange Composite was 0.57% lower. Reuters reported that s...

KUALA LUMPUR (March 13): The FBM KLCI rose 2.81 points or 0.2% after volatile trade as global investors anticipated US inflation numbers later today. Investors closely watch US inflation numbers for clues on the pace of US interest rate hikes. Reuters reported that Asian stocks stalled on Tuesday as Wall Street shares lost steam, while the dollar sagged on the back of declining US yields. Investors were focused on US inflation data due later in the day (1230 GMT) for clues on the pace of Federal Reserve interest rate rises this year. "Today's CPI inflation data is likely to add further colour to the US inflation picture, however it probably won’t add any further clarity to the overall inflation outlook puzzle, given that the Fed doesn’t use CPI as its inflation benchmark," Michael Hewson, chief markets analyst at CMC Markets was quoted as saying in London. "Nonetheless, it is still a useful gauge in establishing when and how the price pr...

KUALA LUMPUR (March 12): The FBM KLCI rose 17.3 points or 0.9% as global investors cheered the US' latest employment data, which had also eased concerns about US inflation and the pace of interest rate hikes there. Reuters reported that inflation worries faded after US data showed nonfarm payrolls jumped by 313,000 jobs last month, but annual growth in average hourly earnings slowed after a spike in January. The pullback in wages tempered speculation the Federal Reserve would project four rate hikes — or dot plots — at its policy meeting next week, instead of the current three. At Bursa Malaysia today, the KLCI ended at its intraday high at 1,861.22.  Across Asian stock markets, Japan's Nikkei 225 rose 1.65%, South Korea's Kospi increased 1% while Hong Kong's Hang Seng was 1.93% higher. In Malaysia, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com: “Generally, the trading mood is very positive, consumer ...

KUALA LUMPUR (March 9): The FBM KLCI went up 4.3 points or 0.23% to end the week at 1,843.92 points today, in tandem with the upward trend in the regional markets. Across the board, gainers led decliners by 491 to 459, while 391 counters remained unchanged on Bursa Malaysia. A total of 2.25 billion shares worth RM2.02 billion were traded today. SKH Consortium topped the chart with the most shares traded, at a total of 147.26 million shares, which brought its share price half a sen or 5.26% up, to close at its five-month high of 10 sen. On a weekly basis, the benchmark index has closed lower for the second consecutive week. It dropped 12.15 points against last week’s closing of 1,856.05 points. Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com that while the market is still volatile given the fear of a trade war, investors should not be overly concerned as there are no signs of a crisis unfolding. “The index is s...

KUALA LUMPUR (March 7): The FBM KLCI fell 10.47 points or 0.6% with Asian markets after the US's White House economic adviser Gary Cohn resigned. Cohn's resignation led to fears that US President Donald Trump will proceed with the nation's planned steel and aluminium import tax plans. Such sentiment led to anticipation of a global trade conflict. At Bursa Malaysia, the KLCI closed at 1,837.90 points. Across Asia, Japan's Nikkei 225 closed down 0.77%, South Korea's Kospi fell 0.4% while Hong Kong's Hang Seng ended 1.03% lower. In Malaysia, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com: "The market has been down all day. All of Asia's stocks fell mainly due to news on the resignation of Trump's adviser. There was some hope that Trump's tariff plans would not be true but then news on this (the resignation) has further shaken up the market." Reuters reported that Cohn is seen ...

KUALA LUMPUR (March 6): The FBM KLCI climbed 5.75 points or 0.3%, mirroring Asian share gains today after US equities rose overnight. World shares rose as fears over a potential global trade war eased after US President Donald Trump faced growing pressure from political allies to pull back from the US' planned steel and aluminium import tax. At Bursa Malaysia today, the KLCI closed at 1,848.37 points. The KLCI rebounded today after falling 13.45 points yesterday. Across Asia today, Japan’s Nikkei 225 rose 1.79%, South Korea’s Kospi gained 1.53% while Hong Kong’s Hang Seng increased 2.09%. Reuters reported that Asian shares regained ground on Tuesday after Trump faced growing pressure from political allies to pull back from proposed steel and aluminium tariffs, easing investor worries about an imminent trade war. Sentiment was also supported by receding risk aversion in Europe with the euro gaining support from the creation of a coalition government in Ge...

KUALA LUMPUR (March 5): The FBM KLCI closed 13.45 points or 0.7% lower on concerns of a potential global trade war after US President Donald Trump announced the US' planned import tax on steel and aluminium. At 5pm, the KLCI closed at 1,842.62 after Asian shares ended lower. Among the 30 KLCI-linked stocks, Press Metal Aluminium Holdings Bhd was the top decliner in percentage terms after the stock fell 50 sen or 9.1% to RM4.97. Malacca Securities Sdn Bhd senior research analyst Kenneth Leong told theedgemarkets.com that the KLCI's weakness was mainly from Press Metal's share price drop. Leong said the US' planned import tax on steel and aluminium had also affected the broader market. Across the KLCI, there were 21 decliners and eight gainers while one stock was unchanged. “Until we can get a clearer picture about his (Trump's) plans (expected to be announced this week), we could see further weakness in the market,” said Leong. Malays...

KUALA LUMPUR (March 2): The Malaysian stock market closed in negative territory today amid concerns across Asia of a potential trade war after US President Donald Trump announced import tariff on steel and aluminium. At 5pm today, the benchmark FBM KLCI closed 4.79 points or 0.26% lower at 1,856.07 points, after trading in the range of 1,854.25 to 1,860.64 during the day. When contacted, Malacca Securities Sdn Bhd senior research analyst Kenneth Leong told theedgemarkets.com that the KLCI's performance was in line with the weakness across the global stock market. "The weakness came after Trump's announcement on steel and aluminium import tariffs. Notable losers in Malaysia were (steel players) Ann Joo Resources Bhd, Southern Steel Bhd and Malaysia Steel Works (KL) Bhd," he said. Leong explained that investors are concerned that the unfavourable fluctuation in metal prices may affect the steel companies' earnings moving forward. Reut...

KUALA LUMPUR (Mar 1): The FBM KLCI rose 4.66 points or 0.3%, lifted by plantation counters' gains in line with the rise in crude palm oil (CPO) futures. At 5pm, the KLCI closed at 1,860.86 while Bursa Malaysia's plantation index rose 92.49 points or 1.16% to 8,083.96. The KLCI rose on bargain hunting today after the index fell 15.26 points yesterday. Today, Affin Hwang Investment Bank Bhd analyst Nadia Aquilah told theedgemarkets.com that "the gain in plantation counters was in line with the rise in CPO futures". PPB Group Bhd and Kuala Lumpur Kepong Bhd were among Bursa Malaysia's biggest gainers. Earlier today, Reuters reported that Malaysian palm oil futures rose to their highest in seven weeks on Thursday morning, supported by firm demand ahead of an industry conference next week. It was reported that the benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange was up 0.3 percent at RM2,566 (...