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KUALA LUMPUR (Jan 30): The FBM KLCI closed down 0.58 point at its intraday low after late selling of KLCI-linked stocks led to a sharp drop in the index during the final trading hour. Fund managers said the late selling could be due to investors' month-end portfolio restructuring ahead of the Federal Territory Day holiday tomorrow. At 5pm today, the KLCI closed at 1,683.53 after rising to its intraday high at 1,695.4. The KLCI was in green territory for most of the day as global investors took cue from the US Federal Reserve's interest rate stance. Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com that the KLCI closed in the red due to last-minute selling in selective KLCI stocks, possibly due to portfolio restructuring.    “There’s possibly a mandate to sell down some of the big stocks held by January, and today is the last day of the month,” said Wong. Malaysian markets will be closed tomorrow for the...

KUALA LUMPUR (Jan 30): The FBM KLCI closed down 6.3 points or 0.37% today while trading volume across Bursa Malaysia shrank below two billion shares after investors took profit ahead of the Federal Territory Day holiday on Friday. Today, the KLCI closed at 1,684.11 at 5pm, led by the decline in Tenaga Nasional Bhd, Top Glove Corp Bhd and Petronas Chemicals Group Bhd shares. Across Bursa Malaysia, 1.92 billion shares were traded for RM1.73 billion. Yesterday, 2.23 billion shares worth RM2.03 billion were traded. Today,  Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com : “The trading volume today has shrunk below the two billion level. Also, investors are booking their profits as they continue to monitor developments on US-China trade talks that is ongoing." Reuters reported that China's Vice Premier Liu He is in Washington this week to meet US officials, including US President Donald Trump. It was reported that U...

KUALA LUMPUR (Jan 29): The FBM KLCI closed down 7.09 points or 0.42% at 1,690.41 today after US shares fell overnight on Monday and as US criminal charges against China's telecom giant Huawei Technologies Co Ltd added uncertainty to prospects of China-US trade talks on Wednesday and Thursday (Jan 30 and 31). In China stock markets today, Hong Kong’s Hang Seng closed down 0.16% while the Shanghai Composite fell 0.1%. Elsewhere across Asia, Japan's Nikkei 225 and South Korea’s Kospi erased losses to close up 0.08% and 0.28% respectively. Reuters reported that Asian shares stumbled on Tuesday and the dollar hovered near two-week lows as prospects for a long-awaited Sino-US trade deal were dealt another blow after the US levelled sweeping criminal charges against Huawei. It was reported that despite the late uptick in share prices, the mood was still gloomy after the US Justice Department unsealed indictments against Huawei accusing it of bank and wire...

KUALA LUMPUR (Jan 28): The FBM KLCI fell 3.53 points or 0.21% today to close below 1,700 as cautious investors awaited China-US trade dispute developments ahead of talks between both countries on Wednesday and Thursday (Jan 30 and 31). At 5pm today, the KLCI settled at 1,697.5 after rising to its intraday high at 1,705.5 and falling to its intraday low at 1,693.63. Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com that investors are seen remaining on the sidelines until a solution to the ongoing China-US trade tension becomes clearer. “There is nothing much to shout about at this point. It (stock market) could be possibly impacted by the falling crude oil prices but oil prices have been volatile for a while. I think the Brent crude oil could continue at the US$60-level for a while. Investors are waiting for the trade talks to result in something concrete,” he said.    Across Bursa Malaysia today, 2.25 bil...

KUALA LUMPUR (Jan 25): The FBM KLCI extended gains for the second consecutive day today, breaching the 1,700-point mark for the second time within a week, mainly underpinned by foreign funds buying key stocks and improved liquidity. At 5pm, the benchmark index closed at its intraday high of 1,701.03 points, up 7.44 points or 0.44%. During the midday market break, the index had slipped to as low as 1,695.38 points. According to Inter-Pacific Securities research head Pong Teng Siew, foreign buying helped prop up the local stock market, as well as the liquidity improvement in the market. He said foreign funds started coming back to the market, since the second week of this month.  “Having said that, I think KLCI is likely to continue to trend upwards, but in a cautious mode, mainly due to local investors taking a wait-to-see approach now, pending a definite picture from the US-China trade spat and also upcoming fourth-quarter earnings results,” Pong added. ...

KUALA LUMPUR (Jan 24): The FBM KLCI inched up 5.45 points or 0.3% to close higher today, in line with modest gains in regional markets taking their cue from Wall Street following a spate of upbeat earnings reports. At 5pm, the benchmark index finished at 1,693.59 points. Top gainers among component stocks were Hartalega Holdings Bhd and Hong Leong Financial Group Bhd, up 2.2% and 2% respectively, while decliners included lawsuit-besieged Genting Malaysia Bhd. Across the local bourse, a total of 2.44 billion shares worth RM2.12 billion were transacted. Market breadth was positive as gainers outstripped decliners at 458 versus 375, while 346 counters closed unchanged. Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com the gains seen in the market today were because of the positive close in most regional bourses. He observed that foreign funds were seen to be accumulating Malaysian equities over the past one and a half week.  ...

KUALA LUMPUR (Jan 23): The FBM KLCI declined today, tracking regional movements after the overnight selldown on Wall Street and the fall in crude oil prices. The benchmark index closed 13.98 points or 0.82% lower at 1,688.14, after moving between 1,680.84 and 1,690.76. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the market was jittery as sentiment was not only affected by the overnight fall on Wall street, but also the first decline in oil price in the past five days. “Investors globally are watching out for the upcoming US corporate earnings growth, but the market seems to be pessimistic about the upcoming reporting season. We are expecting the KLCI to trend sideways and be limited to 1,700 points this week,” Leong told theedgemarkets.com.    “We are not expecting a pre-Lunar New Year rally this year as well, simply because there is not much growth catalyst, unless we see some positive news flow, like an easing of tensions on t...

KUALA LUMPUR (Jan 22): The FBM KLCI breached the 1,700-point mark for the first time in almost two months since Nov 26 last year, driven mainly by late buying interest on selected blue chips. The benchmark index was weighed by regionally weak sentiment since the morning session today, but gained strength in the final trading hour. At 5pm, the KLCI closed at its intraday high of 1,702.12 points, up 9.9 points or 0.59%. During the mid-day market break, the index had slipped to as low as 1,688.19 points.   Notwithstanding the last-hour boost, market breath remained negative with 332 gainers versus 556 losers, while 329 counters closed unchanged.    According to Bloomberg data, the top five gainers of KLCI component stocks — by percentage — were Petronas Dagangan Bhd (PetDag), Hartalega Holdings Bhd, Genting Bhd, CIMB Group Holdings Bhd and Public Bank Bhd. All of these stocks experienced a sudden spike in buying interest at the 11th hour. ...

KUALA LUMPUR (Jan 18): The FBM KLCI closed higher for the second day running today following a news report that the Trump administration is considering easing tariffs imposed on Chinese imports. The benchmark index closed up 9.25 points or 0.55 % at 1,692.22. TA Securities Holdings Bhd technical analyst Steven Soo said the market’s performance was boosted by the report on the possible lifting by the US of the tariffs levied against China. Soo said the rise in oil prices after the Organisation of the Petroleum Exporting Countries (OPEC) members reported the biggest monthly drop in production in nearly two years also served as a positive catalyst to the stock market.    “Should the market sentiment improve from here, the psychological resistant levels to watch are the 1,700 level, and this followed by 1,722 to 1,742 level,” Soo told theedgemarkets.com, adding that the key support level to look at is 1,680. The Wall Street Journal reported yester...

KUALA LUMPUR (Jan 17): The FBM KLCI rose 9.89 points or 0.59% today, led by Genting Bhd and Hartalega Holdings Bhd share price gains and after US equities' overnight rise on Wednesday. At Bursa Malaysia today, the KLCI closed at 1,682.97 at 5pm. Genting Bhd was the biggest gainer in percentage terms, among the 30 KLCI stocks followed by Hartalega. Genting Bhd closed up 40 sen or 6.23% at RM6.82 while Hartalega rose 27 sen or 5.42% to RM5.25. “There is improving sentiment based on year-to-date net inflow of foreign funds,” Rakuten Trade Sdn Bhd research vice president Vincent Lau told theedgemarkets.com. Overnight in the US, Reuters reported that the Dow Jones Industrial Average rose 141.57 points, or 0.59 percent, to 24,207.16, the S&P 500 gained 5.8 points, or 0.22 percent, to 2,616.1 and the Nasdaq Composite added 10.86 points, or 0.15 percent, to 7,034.69. It was reported that Wall Street's major indexes hit one-month highs on Wednesday as st...

KUALA LUMPUR (Jan 16): The FBM KLCI fell 6.34 points or 0.38% today after Asian shares took cue from the rejection of UK Prime Minister Theresa May’s Brexit deal at the UK Parliament on Tuesday. At 5pm today, the KLCI closed at 1,673.08. Across Asia, Japan’s Nikkei 225 fell 0.55% while South Korea and Hong Kong stock indices erased losses to end higher. South Korea’s Kospi closed up 0.43% while Hong Kong’s Hang Seng rose 0.27%. In Malaysia, MIDF Amanah Investment Bank Bhd head of research Mohd Redza Abdul Rahman told theedgemarkets.com that “the rebound did not happen [in the KLCI] due to profit taking on key banking and plantation stocks.” Across Bursa Malaysia, 2.33 billion shares valued at RM1.88 billion were traded.    Top decliners included Public Bank Bhd and Tenaga Nasional Bhd as global investors digested the latest Brexit development. Reuters reported that global share markets and the sterling weathered a UK political storm as investo...

KUALA LUMPUR (Jan 15): The FBM KLCI closed 3.26 points or 0.19% higher after an 11th hour spike due to the sharp rise in Public Bank Bhd's share price in the final minutes of trading. Malaysian shares also took cue from Asian equity gains in anticipation of China's stimulus, which include proposed tax cuts. At Bursa Malaysia, the KLCI closed at 1,679.42 at 5pm. KLCI-linked Public Bank shares rose 28 sen to RM24.98. “Our country is highly exposed to developments in China, considering it is one of our biggest trade partners among other Asian markets,” Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com.  Bloomberg reported that shares in Hong Kong and Shanghai were among the biggest gainers after senior Chinese economic policy officials vowed tax cuts to boost growth, while lending data from the country suggested December estimates may be exceeded. Reuters reported that Asian stocks rose on Tuesday, supported by a ...

KUALA LUMPUR (Jan 14): The FBM KLCI closed down 7.06 points or 0.42% at 1,676.16 today after news on the shock contraction in China exports hit global shares and crude oil markets. Across Bursa Malaysia, 2.18 billion shares worth RM1.42 billion were traded. A total of 523 stocks ended lower compared with 257 gainers. Top decliners included Petronas Dagangan Bhd, Petronas Chemicals Group Bhd and Top Glove Corp Bhd. Petronas Dagangan shares closed down 60 sen at RM25.40, Petronas Chemicals dropped 35 sen to RM8.35 while Top Glove fell 14 sen to RM4.66. Petronas Chemicals and Top Glove fell amid a strengthening ringgit against the US dollar. At the time of writing, the ringgit was traded at 4.1010 against the US dollar. Over the past year, the ringgit strengthened to current levels after depreciating to its weakest point against the US dollar at 4.2020. Across Asian share indices today, the Shanghai Stock Exchange Composite declined 0.71%, Hong Kong's Hang ...

KUALA LUMPUR (Jan 11): The FBM KLCI closed up 4.34 points or 0.26% at 1,683.22 after Asian shares ended higher today. World equities took cue from the US Federal Reserve's dovish stance and news that US and Chinese officials are preparing for higher-level trade talks. Bursa Malaysia small market capitalisation (small-cap) stocks rose by a larger quantum as investor interest appeared focused on Bursa Malaysia small-cap stocks. The small-cap index closed up 113.33 points or 0.94% at 12,104.83. “We’re seeing a rotational play into small-cap (companies), particularly into technology-linked stocks and the oil and gas sector,” said Stephen Soo, senior technical analyst at TA Securities Holdings Bhd. Across Bursa Malaysia, 2.89 billion shares were traded for RM2.17 billion. There were 526 gainers and 283 decliners. Sapura Energy Bhd, Bumi Armada Bhd and VS Industry Bhd were among the most-actively traded stocks. Leading gainers included KESM Indust...

KUALA LUMPUR (Jan 10): The FBM KLCI closed up 11.05 points or 0.66% after a late spike in Maxis Bhd and Tenaga Nasional Bhd share prices led to the KLCI's sharp rise in the final trading minutes. At 5pm, the KLCI closed at 1,678.88. Maxis closed up 18 sen or 3.3% at RM5.64 while Tenaga rose 20 sen or 1.46% to RM13.86. On the KLCI, Public Investment Bank Bhd analyst Lee Siao Ping said: “The buying interest is there, but the selling interest is equivalent. A bullish trend can only be confirmed if the KLCI breaks the 1,700 barrier next week.” Across Bursa Malaysia today, 3.45 billion shares worth RM2.66 billion exchanged hands. Top gainers included Nestle (M) Bhd, Petronas Gas Bhd and MISC Bhd.    In currency markets, the ringgit strengthened to 4.099 against the US dollar at the time of writing. The exchange rate reached 4.0935 earlier today. Bloomberg reported that the ringgit rose to the highest in more than four months after WTI crude ente...

KUALA LUMPUR (Jan 9): The FBM KLCI closed down 4.93 points or 0.29% at 1,667.83 today after profit taking pushed the index into the red during the final trading hour. Bursa Malaysia small market capitalisation (small-cap) stocks rose as share-trade volume across Bursa Malaysia breached three billion units. At 5pm, the KLCI closed down at its intraday low on profit taking after the index rose to its intraday high at 1,684.08. The KLCI had earlier risen with global shares and crude oil prices amid optimism on the China-US trade talks. Reuters reported that oil prices extended their gains, rising nearly one percent with US West Texas Intermediate crude oil futures rising above US$50 per barrel overnight for the first time in 2019.    In Malaysia today, KLCI-linked stocks dominated Bursa Malaysia's top decliners at 5pm. Eight of Bursa Malaysia's 10 leading decliners were KLCI stocks, which included Petronas Chemicals Bhd, Maxis Bhd, Top Glove Corp B...

KUALA LUMPUR (Jan 8): The FBM KLCI dipped 6.41 points or 0.38% to close at 1,672.76 today, led by Hartalega Holdings Bhd and Top Glove Corp Bhd's share price decline partly due to an appreciating ringgit against the US dollar. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the decline in both rubber glove manufacturers' shares was also due to unresolved issues concerning foreign workers. “Weakness in the benchmark index (KLCI) was led by Hartalega and Top Glove," Leong said. According to him, Hartalega and Top Glove accounted for a combined 4.2 point decline of the KLCI's 6.41 point drop. Hartalega shares closed down 60 sen or 10.44% at RM5.15 to become the largest decliner in percentage terms among the KLCI's 30 stocks. Top Glove was the second largest decliner after the stock fell 27 sen or 5.09% to RM5.03.    In currency markets, the ringgit was traded at 4.1182 against the US dollar at 5:34pm today. Over the l...

KUALA LUMPUR (Jan 7): The FBM KLCI closed up 9.39 points or 0.56%, tracking Asian peers, as investors took cue from the US' strong employment data and Federal Reserve's dovish turn. China's move to cut bank reserve requirements also supported world stock markets as investors looked ahead at US-China trade talks today. At Bursa Malaysia, the KLCI closed at 1,679.17 at 5pm. “I think the (Malaysian share) market also (saw an) oversold situation last week,” Danny Wong, chief executive officer of Areca Capital Sdn Bhd told theedgemarkets.com. “We might see some bargain hunting,” Wong said. Wong said Federal Reserve Chairman Jerome Powell's dovish comments were also behind the more positive share-trade sentiment today. However, Wong expects volatile trading to continue until investors are more certain of earnings and growth expectations.  Asian shares closed higher today. Japan’s Nikkei 225 rose 2.44% while South Korea's Kospi climbed 1.34%. In ...

KUALA LUMPUR (Jan 4): The FBM KLCI closed 6.05 points or 0.36% lower today after US stocks fell substantially overnight on Thursday amid weaker outlook on China's and US' economies. At 5pm, the KLCI closed at 1,669.78. Overnight in the US, Reuters reported the Dow Jones Industrial Average fell 660.02 points or 2.83 percent, to 22,686.22, the S&P 500 lost 62.14 points, or 2.48 percent, to 2,447.89 and the Nasdaq Composite dropped 202.43 points, or 3.04 percent, to 6,463.50. It was reported that a survey from the Institute for Supply Management (ISM) on Thursday showed US factory activity hit the brakes in December as new orders slowed sharply. It was reported that the dismal report came after Chinese data on Monday showed its manufacturing activity contracted in December for the first time in more than two years. In Malaysia today, Malacca Securities Sdn Bhd head of research Victor Wan told theedgemarkets.com that "weak global market sentime...

KUALA LUMPUR (Jan 3): The FBM KLCI closed 7.72 points or 0.46% higher today on bargain hunting after the substantial decline yesterday. Today, the KLCI closed at 1,675.83 at 5pm after investors bargain hunted for stocks including Sime Darby Plantation Bhd. Yesterday, the KLCI ended down 22.47 points at 1,668.11. Today, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarket.com: “The positive sentiment was mainly spurred by bargain hunting activities after the more than 20 point selloff in the previous session.” Among the 30 KLCI stocks today, Sime Darby Plantation was the biggest gainer in percentage terms after the shares closed up 16 sen or 3.52% at RM4.71. Across Bursa Malaysia, 1.76 billion shares worth RM1.22 billion were traded. Top gainers included KLCI stocks Hong Leong Financial Group Bhd and and Tenaga Nasional Bhd. Bursa Malaysia leading decliners included Globetronics Technology Bhd after Apple Inc's revenue warni...