MONEY MASTER

KUALA LUMPUR (Aug 30): The FBM KLCI closed slightly lower today on profit taking in some index-related counters ahead of the National Day holiday tomorrow and due to disappointing earnings. The KLCI closed 0.05% or 0.98 point lower at 1,819.66. A look at the market breath saw the decliners leading gainers by 685 to 299, while 350 counters traded unchanged. A total of 2.63 billion shares worth RM2.96 billion changed hands in the open market. Top gainers included British American Tobacco (M) Bhd, while Supermax Corp Bhd led decliners. Hibiscus Petroleum Bhd was the day's most active counter. Hong Leong Investment Bank's head of retail research Loui Low said the KLCI was impacted by profit-taking activities in selected counters. "There is also a sharp selldown in the broader market as earnings results have been mixed with a slight bias towards negative," Low said, citing Telekom Malaysia Bhd as an example. He added that the selling pr...

KUALA LUMPUR (Aug 29): Malaysian stocks closed lower today, as investors continued to digest earnings from a slew of corporates and take profits ahead of the long weekend. The benchmark FBM KLCI ended the day 6.26 points or 0.34% lower at 1,820.64, after trading between 1,815.74 and 1,822.43 throughout the day. Market breadth was negative with 557 decliners compared with 346 gainers, while 418 counters traded unchanged. Leading movers were Hong Leong Financial Group Bhd, Kobay Technology Bhd and APM Automotive Holdings Bhd. Lagging movers were British American Tobacco (Malaysia) Bhd, Supermax Corp Bhd and Fraser & Neave Holdings Bhd. Nevertheless, trading volume increased to 2.69 billion shares worth RM2.63 billion from yesterday's 2.57 billion shares worth RM2.29 billion. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said investors have already digested external optimism on international news such as the US-Mexico trade deal. ...

KUALA LUMPUR (Aug 28): The FBM KLCI continued with its strong momentum with sentiment further lifted by external optimism on news of the United States-Mexico trade deal. The key index ended the day up 15.30 points or 0.84% to a new three-month high of 1,826.90. On the broader market, decliners led gainers by 512 to 350, with 473 counters traded unchanged. About 2.57 billion shares worth RM2.29 billion were traded. TA Securities technical analyst Stephen Soo said the market's rise was supported by buying in selected stocks such as Nestle (M) Bhd, which closed 70 sen higher, and Daiman Development Bhd, which closed up 65 sen. Soo said the market will eventually come to a consensus regarding the US-Mexico trade deal, given that this would put China at a disadvantage. "[News of the trade deal] has lifted US equities to a record high, but I believe the market is currently overshooting. So I believe a correction is due to more realistic levels,...

KUALA LUMPUR (Aug 27): Malaysia's stock market closed higher today, tracking gains seen in the regional equity markets after the S&P 500 closed at a record high last Friday. The FBM KLCI ended the day up 3.01 points or 0.17% to its 13-week high of 1,811.60 points. Reuters reported that Japanese stocks followed gains in US shares, with all but the mining, shipping and airline sectors in positive territory. Exporters such as automotive makers and technology companies led the gains. This was after US Federal Reserve (Fed) chairman Jerome Powell commented that the Fed's gradual and slow pace of policy tightening will continue amid a stronger US economy. On Bursa Malaysia, decliners led gainers by 572 to 376 with 374 counters traded unchanged. About 2.75 billion shares worth RM2.02 billion were traded in the open market. According to Rakuten Trade Sdn Bhd head of research Kenny Yee, the momentum seen in the KLCI remains as the rally in the US sto...

KUALA LUMPUR (Aug 24): The FBM KLCI fell 2.28 points or 0.13% to 1,808.59 today after trade talks between the United States and China ended without any progress. External headwinds weighed on investors' sentiment and put pressure on the equity market, said Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew. "The trade spat between the US and China continues to weigh on Asian exporting countries. If you look at the local market, it was down for the entire day as the market breadth was negative," said Pong. US and Chinese officials ended two days of talks yesterday with no major breakthrough, Reuters reported. This comes as the trade conflict between the two countries escalated with another round of duelling tariffs on US$16 billion worth of each country's goods taking effect. Across Bursa Malaysia, there were 638 losers compared with 267 gainers while 387 counters closed unchanged. About 2.59 billion shares worth RM2.20 bi...

KUALA LUMPUR (Aug 23): The FBM KLCI rose 12.76 points or 0.7% today, buoyed by select blue-chip stocks, despite the continued pressure of US-China trade tensions dominating the sentiment of regional investors. The benchmark index closed at 1,810.87 points after touching its intraday low of 1,799.57 points. The index closed at 1,787.58 points on Monday, and at 1,798.1 on Tuesday. "Panasonic (Manufacturing Malaysia Bhd), BAT (British American Tobacco (Malaysia) Bhd) and Public Bank (Bhd) are among the counters which helped the FBM KLCI on [its] last-minute spike," TA Securities senior technical analyst Stephen Soo told theedgemarkets.com, adding the FBM KLCI today has "outperformed" expectations. Reuters reported that investors were staying on the sidelines as China-US trade talks were underway and the US Federal Reserve held its annual symposium in Jackson Hole. US and Chinese officials met for the first time in over two months to find...

KUALA LUMPUR (Aug 21): Malaysia stocks closed marginally higher today, ahead of the Hari Raya Haji public holiday tomorrow (Aug 22). The benchmark FBM KLCI traded within a narrow range of 1,788.86 points to 1,798.11 points, to close up 10.53 points or 0.59% at 1,798.11 points, propped up by gains in AMMB Holdings Bhd, Hong Leong Financial Group Bhd (HLFG) and Allianz Malaysia Bhd. Trading volume increased to 2.52 billion shares worth RM2.43 billion compared with 2.28 billion shares worth RM2.04 billion yesterday. Shares of AMMB closed up 14 sen or 3.63%, while HLFG and Allianz gained 18 sen and 50 sen respectively. Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew noted that although the KLCI ended the day higher, market breadth was negative. Across Bursa Malaysia, there were 506 losers compared with 359 gainers. "Overall market sentiment was mixed," he told theedgemarkets.com. Pong highlighted that several construction compan...

KUALA LUMPUR (Aug 20): Malaysian stocks started the week on a positive note, as selected heavyweight counters like Petronas Chemicals Group Bhd, Axiata Group Bhd and DiGi.Com Bhd lifted the benchmark FBM KLCI up 4.11 points or 0.23% despite negative market breadth. The KLCI traded within a range of 1,782.74 points to 1,791.14 points before finishing at 1,787.58 points. Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com that all eyes are focused on Prime Minister Tun Dr Mahathir Mohamad's official visit to China, to see whether there are any big catalysts to move the market. Low is optimistic about trade opportunities between the two countries that could also serve as a trading opportunity. "Yes, it (trading opportunity) will help to lift the KLCI. For example, if Alibaba wants to invest in certain counters or even any news on the East Coast Rail Link (ECRL) or any Chinese investors coming in that will actually ...

KUALA LUMPUR (Aug 17): Malaysian stocks closed higher today with the FBM KLCI up 6.2 points or 0.35% at 1,783.47 points, but underperforming its regional peers as investors here remained in profit-taking mode. "The big event to watch out for next week will be the prime minister's official visit to China," TA Securities senior technical analyst Stephen Soo told theedgemarkets.com. He opined that the market is likely to continue trading sideways as investors await signals from the visit, amid global economic concerns. "The momentum going forward may be softer, with the benchmark index likely to test the downside support level of 1,750 points," he said, adding that the upcoming mid-week Hari Raya Haji holiday may also result in lower participation and that the index faces a substantial resistance level of 1,805 points. Market breadth was positive today with 410 gainers outpacing 370 decliners. A total of 2 billion shares were crossed ...

KUALA LUMPUR (Aug 16): Malaysian stocks swung back into the red today, wiping out gains made over the last two days as investors cashed in on profits. The benchmark FBM KLCI traded in negative territory throughout the day to close down 8.67 points or 0.48% at 1,777.27 points. Market breadth was negative with 515 losers and 290 gainers. A total of 2.11 billion worth of shares were traded for RM1.91 billion compared with 2.4 billion shares worth RM2.03 billion on Wednesday. According to Hong Leong Investment Bank head of retail research Loui Low, investors in index-linked counters are likely to stay in profit-taking mode amid uncertainty over Turkey's economy and the US-China trade war fears. However, he noted that beneficiaries of the weaker ringgit, which has fallen in line with other emerging market currencies, include export-driven counters such as Unisem (M) Bhd, which has seen a slight uptick in its share price. Although the trade war between...

KUALA LUMPUR (Aug 15): The FBM KLCI closed 2.16 points or 0.12% higher, backed by gains in Petronas-linked counters and as investors bought shares of export-based companies. Asian markets fell as concerns on China's economic growth and Turkey's financial crisis lingered. At Bursa Malaysia, the KLCI closed at 1,785.94 points on gains in KLCI-linked stocks like Petronas Chemicals Group Bhd, Petronas Dagangan Bhd and Hartalega Holdings Bhd. Malaysian shares bucked the Asian share downtrend. In China, the Shanghai Stock Exchange Composite dropped 2.08% while Hong Kong’s Hang Seng fell 1.55%. Elsewhere, Japan’s Nikkei 225 fell 0.68%. Reuters reported that Asian stocks retreated to a one-year low on Wednesday as bearish Chinese markets worsened investor sentiment already hurt by Turkey's financial crisis. It was reported that signs of the world's second-largest economy losing momentum and the ongoing Sino-US trade conflict have weighed on Chinese...

KUALA LUMPUR (Aug 14): The FBM KLCI closed up 0.44 point at 1,783.78 on bargain hunting after falling earlier today as investors evaluated China economic data, which missed market forecast. Analysts said the KLCI closed higher as the impact of the Turkish lira's depreciation on Malaysian markets appeared not to be as bad as news reports suggested. “The actual performance of the ringgit has shown that it is not as affected (by the depreciation of the lira) as international newswire reports suggest," Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com. As such, Pong said the KLCI is “no longer in the crosshairs of funds looking to profit from the fall in the lira. Local funds are still poised to buy into the market (and) I am confident this trend will continue.” Across Bursa Malaysia, 2.32 billion shares were traded today for RM2.48 billion. The KLCI closed higher after falling to its intraday low at 1,778.20 ...

KUALA LUMPUR (Aug 9): The FBM KLCI rose by a marginal 0.22 point or 0.01%, supported by increased foreign participation in the Malaysian stock market. At 5pm, the KLCI closed at 1,804.95 points after erasing losses in the final trading hour. During the day, the KLCI climbed to its intraday high of 1,811.29 points before falling into negative territory in the final trading hour. At 5pm, the KLCI closed higher on gains in index-linked stocks like Tenaga Nasional Bhd and Petronas Chemicals Group Bhd. Hong Leong Investment Bank Bhd head of retail research Loui Low Ley Yee told theedgemarkets.com that increased foreign participation in the Malaysian stock market supported sentiment. "Most notable counters that have benefited the most are export-related counters, specifically the tech and wood-based (furniture) sectors due to the weakening of the ringgit over the last two months," he said. Across Bursa Malaysia today, 2.31 billion shares worth RM2.29...

KUALA LUMPUR (Aug 8): The FBM KLCI rose 13.64 points or 0.76% on what appeared to be foreign investor demand for Malaysian stocks. At 5pm, the KLCI closed at its intraday high at 1,804.73 points. A senior analyst at local investment bank told theedgemarkets.com that foreign investors had been net buyers of Malaysian stocks for three consecutive trading days since Friday. The analyst said : "After the (Malaysian) general election, foreign investors had generally been net sellers. But as the stocks took a plunge even though some of them have their fundamentals still intact, the valuations emerge as attractive for foreigners to engage in 'bargain hunting' as they say it," he said. Across Bursa Malaysia today, 2.77 billion shares worth RM2.71 billion changed hands. Top gainers included Hengyuan Refining Co Bhd, ABM Fujiya Bhd and Axiata Group Bhd. ABM Fujiya shares neared limit up after the stock jumped by as much as 29.5 sen to 74 sen dur...

KUALA LUMPUR (Aug 7): The FBM KLCI rose 11.34 points or 0.64% today as Asian shares took cue from China's share rise and global crude oil price gains. US equities' overnight advance also supported Asian stocks today. At Bursa Malaysia, the KLCI finished at 1,791.09 points. Analysts said investor sentiment appeared to have improved amid Malaysia's current corporate financial reporting season and as foreign investors became net buyers of local shares. “Corporate results have been within expectations, they are looking quite alright for a start and have generally showed improvements from the previous quarter,” Rakuten Trade Sdn Bhd vice president of research Vincent Lau told theedgemarkets.com. Lau observed that foreign investors’ confidence seemed to have returned as they were net buyers of Malaysian shares today, although the trade tension between the US and China persisted. Across Bursa Malaysia, 2.53 billion shares worth RM2.33 million were ...

KUALA LUMPUR (Aug 3): The FBM KLCI ended 1.96 points or 0.11% higher on bargain hunting and as investors evaluated changes in corporate Malaysia amid heightened US-China trade war concerns. At 5pm, the KLCI closed at 1,780.09 points after falling to its intraday low at 1,773.89 points as the US-China trade war intensified. Reuters reported that investors also remain cautious ahead of the July US jobs report due later on Friday, which will give a reading on the health of the world's largest economy and possible clues about the pace of Federal Reserve interest rate rises. In Malaysia, a senior fund manager with a foreign investment bank told theedgemarkets.com: “Investors are looking for clues as they absorb the latest changes in the local corporate scene.” The fund manager might be referring to Malaysia corporate news including Khazanah Nasional Bhd's announcement today on the appointment of Datuk Shahril Ridza Ridzuan as managing director. Khazanah...

KUALA LUMPUR (Aug 2): The FBM KLCI fell 10.18 points or 0.57% as the US-China trade war escalated after the US proposed a 25% tariff on US$200 billion worth of Chinese imports. At 5pm, the KLCI closed at 1,778.13 points. Reuters reported today that US Trade Representative Robert Lighthizer said on Wednesday that President Donald Trump directed the increase from a previously proposed 10% duty because China refused to meet US demands and has imposed retaliatory tariffs on US goods. It was reported that Trump's threats of higher tariffs weighed on China's financial markets. But Chinese Foreign Ministry spokesman Geng Shuang reiterated at a regular news briefing that the United States' efforts at "blackmail" would fail. In Malaysia, Hong Leong Investment Bank Bhd head of retail research Loui Low Ley Yee told theedgemarkets.com: "The volatility will continue until the markets have seen some clarity. Positive news first, then only can we s...

KUALA LUMPUR (Aug 1): The FBM KLCI increased 4.06 points or 0.23% to close at its intraday high after Malaysia Airports Holdings Bhd's last-minute share price spike helped the KLCI erase losses. Analysts said today that overnight US share gains also supported the Malaysian stock market sentiment. At 5pm, the KLCI closed at 1,788.31 points after falling to its intraday low at 1,777.58 points. At 5pm, it ended higher after KLCI-linked Malaysia Airports shares rose 23 sen to RM9.48. Gains in other KLCI stocks like Petronas Gas Bhd and Digi.Com Bhd also helped the KLCI finish higher as investors evaluated US shares' overnight rise. Investors are also anticipating the US' interest rate decision after the Federal Open Market Committee's two-day meeting, which ends on Aug 1. Rakuten Trade Sdn Bhd vice president of research Vincent Lau told theedgemarkets.com that improved sentiment due to the US' equity rise helped sustain KLCI’s gain. “The KLCI ...