MONEY MASTER

KUALA LUMPUR (Feb 28): The FBM KLCI fell 5.72 points or 0.33% to close at 1,707.73 as slimmer trade resolution hopes and weaker Chinese factory data dampened global investor sentiment. News that the US-North Korean summit in Hanoi collapsed with no agreement reached had also affected world market dynamics. Across Asian stock markets, Japan’s Nikkei 225 closed 0.79% lower while South Korea’s Kospi was down 1.76%. In China, the Shanghai Stock Exchange Composite fell 0.44% while Hong Kong's Hang Seng lost 0.43%. In Malaysia, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com the market weakness today was mainly attributable to US President Donald Trump and North Korean leader Kim Jong Un's summit, which was cut short with no agreement reached. “Besides, the weak China factory data also contributed to the weakness today, after its Purchasing Managers' Index shrank to a three-year low at 49.2 (in February 2019),” Leong sa...

KUALA LUMPUR (Feb 27): The FBM KLCI closed 5.55 points or 0.32% lower today at 1,713.45 after the India-Pakistan geopolitical tension hit world stock markets and as US-China trade talk uncertainty affected sentiment. Reuters reported that Asian shares and Wall Street stock futures turned negative on Wednesday after Pakistan said it had shot down two Indian jets in its territory, sending investors out of riskier markets and into more conservative choices such as the yen. It was reported that Islamabad said on Wednesday it had carried out airstrikes in Indian-controlled Kashmir and shot down two Indian jets in its own airspace, capturing one of the pilots as the risk of conflict between the nuclear-armed neighbours escalates. It was reported that Indian bonds, stocks and the rupee all sold off. The flare up in geopolitical risks hit broader sentiment, driving investors out of stocks and into safe-haven assets with US stock futures slipping and the Japanese yen ga...

KUALA LUMPUR (Feb 26): The FBM KLCI fell 5.58 points or 0.32% today with Asian peers as optimism on US-China trade talks appeared short-lived. Malaysian shares also contended with lower crude oil prices. At 5pm today, the KLCI closed at 1,719.00 as investors were mindful that although US President Donald Trump said on Sunday he would delay a tariff hike on US$200 billion of Chinese imports, there is no guarantee that the delay will translate into a formal agreement that will benefit trade activities. Investors are “coming back to their senses,” Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com today. Reuters reported today that Trump said on Sunday he would delay a tariff hike on US$200 billion of Chinese imports in the clearest sign yet that both sides were making progress in the talks, but he also sounded a note of caution, saying a deal "could happen fairly soon, or it might not happen at all". It was report...

KUALA LUMPUR (Feb 25): The FBM KLCI closed 3.16 points or 0.18% higher today at its intraday high on bargain hunting and after news reports indicated US President Donald Trump as saying he will delay an increase in tariffs on Chinese goods, due to productive trade talks. At 5pm, the KLCI closed at 1,724.58 points on bargain hunting, after falling to its intraday low 1,717.41. The KLCI closed higher, lifted by KLCI stocks, including Petronas Dagangan Bhd and Malaysia Airports Holdings Bhd. Petronas Dagangan and Malaysia Airports ended among Bursa Malaysia top gainers. The KLCI could have also taken cue from Mainland China shares, which closed substantially higher today on news of the tariff delay. The Shanghai Stock Exchange Composite rose 5.6%, while the CSI300 gained 5.9%.    Reuters reported a surge in Shanghai shares led Asia higher on Monday, after Trump confirmed he would delay a planned hike in tariffs on Chinese imports, as talks betwee...

KUALA LUMPUR (Feb 22): The FBM KLCI closed 9.26 points or 0.54% lower today on profit taking after four consecutive days of gains and following overnight US share losses on Thursday. At 5pm today, the KLCI closed at 1,721.42 after falling to its intraday low of 1,716.17. Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com that the weakness in the KLCI mainly stemmed from the overnight pullback in US shares and profit taking in selected KLCI stocks. “This (KLCI) pullback is considered healthy especially after the KLCI gained close to 40 points over the past week,” said Leong. Among the 30 KLCI constituents today, Top Glove Corp Bhd was the top decliner in percentage terms, followed by Maxis Bhd. Top Glove closed 27 sen or 5.29% down at RM4.83 while Maxis fell 16 sen or 2.82% to RM5.51.    On Monday, the KLCI ended up at 1,692.74 followed by daily gains, which took the index to 1,730.68 yesterday. Overnight on Thursday...

KUALA LUMPUR (Feb 21): The FBM KLCI closed 4.5 points or 0.26% higher today at its intraday high on bargain hunting and amid apparent signs of progress in China-US trade talks. At 5pm, the KLCI closed at 1,730.68  after trading mostly in the red throughout the day. The KLCI closed higher on bargain hunting after falling to its intraday low at 1,719.67. Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com that buyers were seen coming in again today when trading resumed after Bursa Malaysia's afternoon break.      “I (will) give it another day for the positive trend to continue,” said Low, noting that the positive sentiment among investors will, however, depend on the outcome of Malaysia's current corporate financial reporting season. Across Bursa Malaysia today, 3.71 billion shares worth RM3 billion were traded. KLCI stocks Nestle (M) Bhd and Hong Leong Financial Group Bhd (HLFG) closed among Bursa Ma...

KUALA LUMPUR (Feb 20): The FBM KLCI jumped 19.62 points or 1.15% on positive sentiment following gains on Wall Street overnight and news of a potential revival of the East Coast Rail Link (ECRL) project. The index closed at a four-month high of 1,726.18 after hitting an intraday high of 1,727.25. This is the third consecutive day of gains for the KLCI. Inter Pacific Securities research head Pong Teng Siew told theedgemarkets.com that local funds were reacting to news that Malaysia and China could come close to an agreement in the reinstatement of the ECRL project, which immediately drew attention back to the construction sector. Bursa Malaysia's construction index grew 6.74 points or 3.68% to 189.93, making it the top gainer in percentage terms among the bourse's indices.    "This is probably driven by the development that Malaysia and China would come to some kind of agreement which will be a big boost to the construction sector," sai...

KUALA LUMPUR (Feb 19): The FBM KLCI today closed 13.82 points or 0.82% higher on what appeared to foreign investor demand for Malaysian stocks. At 5pm, the KLCI closed at 1,706.56 after rising to its intraday high of 1,710.14. The KLCI closed today above the 1,700-point level for the first time in about three weeks since Jan 25 when the index ended at 1,701.03. Today, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com the uptrend in the KLCI was likely due to foreign buying. “I suppose that this is actually some kind of evidence that the foreign (fund) inflow is continuing and they are buying in now," said Wong.    Petronas Chemicals Group Bhd topped gainers among the 30 KLCI component stocks followed by Top Glove Corp Bhd. Petronas Chemicals closed 33 sen or 3.85% higher at RM8.90 while Top Glove rose 15 sen or 3.01% to RM5.14. Across Asia, Reuters reported that Asian shares hovered near four-month h...

KUALA LUMPUR (Feb 15): The FBM KLCI reversed earlier gains to end 0.01% lower, along with key Asian markets on Friday, amid foreign selling of local equities. At 5pm, the benchmark index closed at 1,688.83, down 0.23 points from Thursday's close of 1,689.06. Earlier in the day, the FBM KLCI hit an intraday high of 1,693.85 after opening 3.23 points higher at 1,692.29. Across Asia, Japan's Nikkei 225 fell 1.13% and South Korea's Kospi lost 1.34%, while Hong Kong's Hang Seng dropped 1.87% and China's Shanghai Stock Exchange Composite declined 1.37%. CNBC reported that major Asian stock markets closed lower on Friday, following the release of US retail data overnight, which raised concerns over a slowing American economy. Investors await developments from the ongoing US-China trade negotiations in Beijing.    Back to the local equity market, TA Securities technical analyst Steven Soo told theedgemarkets.com that the KLCI had been trading ...

KUALA LUMPUR (Feb 14): The FBM KLCI closed up 3.76 points or 0.22% while trading volume across Bursa Malaysia rose to 3.89 billion shares as investors took cue from factors including higher crude oil prices. At 5pm, the KLCI ended at its intraday high at 1,689.06. Analysts said higher crude oil prices supported gains among oil and gas-related shares on Bursa Malaysia. These include top-active stock Sapura Energy Bhd, the share-trade volume of which jumped to over 612 million units. TA Securities Holdings Bhd technical analyst Steven Soo told theedgemarkets.com that "oil and gas stocks are bouncing back strongly mainly driven by the rise in oil prices". Reuters reported that oil prices rose by around 1% on Thursday, with Brent crude futures hitting a 2019-high, buoyed by hopes that the Sino-US tariff dispute could end soon and as China's trade figures including crude imports beat forecasts.    It was reported that international Brent crude o...

KUALA LUMPUR (Feb 13): The FBM KLCI slipped 2.11 points or 0.13% to close at 1,685.30 today after investors appeared to have sidelined big capitalisation (big cap) stocks in favour of smaller plays. At 5pm, Bursa Malaysia's small cap index rose 73.27 points or 0.58% to 12,607.9. “Despite the external (share market) rally, local Government-Linked Companies are possibly being sidelined as investors are still waiting for local leads,” Stephen Soo, senior technical analyst at TA Securities Holdings Bhd told theedgemarkets.com. Across Bursa Malaysia, 2.63 billion shares were traded for RM1.88 billion as 435 gainers outpaced 313 decliners.    Soo said oil and gas stocks Bumi Armada Bhd and Barakah Offshore Petroleum Bhd rose in heavy trade amid higher crude oil prices. Bumi Armada shares closed unchanged at 22.5 sen with some 171 million units transacted while Barakah rose 0.5 sen to 14 sen with about 142 million shares changing hands. Other top-acti...

KUALA LUMPUR (Jan 12): The FBM KLCI today closed 1.15 points or 0.07% lower as investors stayed cautious amid a new round of China-US trade talks. At 5pm, the KLCI closed at 1,687.41. The index, which was mainly in the red today, cut losses after falling to its intraday low at 1,683.73. “The bigger caps (bigger market capitalisation stocks) and major shares will still depend on external issues, and now with another round of negotiations between the US and China, investors are still in a cautious sentiment,” Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com. The KLCI cut losses after equity indices across Asia closed higher with US stock futures. Japan's Nikkei 225 climbed 2.61% while South Korea's Kospi rose 0.45%. In China, Hong Kong’s Hang Seng was up 0.1% while the Shanghai Stock Exchange Composite increased 0.68%.    It was reported that S&P 500 e-mini futures were up nearly 0.5 percent. Reuters r...

KUALA LUMPUR (Feb 11): The FBM KLCI closed up 2.04 points or 0.12% at 1,688.56 on bargain hunting and after Malaysian equities tracked China share gains amid a new round of China-US trade talks. At 5pm, the KLCI closed at 1,688.56 after the index fell to its intraday low at 1,681.64. In China, the Shanghai Stock Exchange Composite closed up 1.36% while Hong Kong's Hang Seng added 0.71%. Mainland China shares resumed trading today after a week-long break. Reuters reported that the Hong Kong stock market closed firmer on Monday, led by a rally in Mainland Chinese shares, as Beijing and Washington launched another round of bilateral trade talks. It was reported that a new round of trade talks began in Beijing on Monday, with higher-level talks involving US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday and Friday. It was reported that if the negotiations do not progress sufficiently by March 1, the US has said it int...

KUALA LUMPUR (Feb 8): The FBM KLCI erased a portion of gains it made in the previous day (Thursday) to end 0.41% lower today, due to worries over the US-China trade dispute, as investors question the two nations' ability to reach a trade deal before the next round of tariffs kick in. At 5pm, the benchmark index was down 6.87 points or 0.41% to close at 1,686.52 points, partly offsetting the 9.8-point rebound it recorded in the previous day. Hong Leong Investment Bank (HLIB) said the KLCI is likely to engage in an extended consolidation with key supports seen near 1,676 points and 1,666 points. It is of the view that while the US Federal Reserve's dovish stance and improving technical readings could spur the KLCI towards the 1,700 to 1,705 levels, the slide in US markets and the uncertainty of the upcoming corporate earnings season could cap further upside.  “Overall, we expect an extended range bound mode until further clarity from the US-China me...

KUALA LUMPUR (Feb 7): While the FBM KLCI saw muted trading activities during the first half of the session today, the benchmark index picked up in the latter part and ended up gaining 0.58% amid light trading across the region due to the Chinese New Year holidays. At 5pm, the benchmark index settled 9.78 points or 0.58% higher at 1,693.39 points, after declining 17.42 points or 1.02% over the past five trading days. Hong Leong Investment Bank (HLIB) said the potential trade deal between US and China and the dovish shift in the US Federal Reserve’s monetary stance could support gains in the local index to recover to the 1,700 to 1,705 levels in the near term. “However, we see stiff resistance near 1,713 to 1,726, as we are likely to experience a tepid February reporting season,” it said in a note. Meanwhile, HLIB retained its target of 1,750 points for the FBM KLCI in 2019, adding that while Malaysia’s long-term reform story is appealing, the near term h...

KUALA LUMPUR (Feb 4): The FBM KLCI barely stayed in the positive zone at market close today, as most of the gains from earlier in the day were given up. The local bourse will resume trading on Thursday (Feb 7) after the two-day Chinese New Year holiday. At 12.30pm, the FBM KLCI erased much of its gains and was up a mere 0.08 points to 1,683.61. Gainers led losers by 385 to 280, while 322 counters traded unchanged. Volume was 1.04 billion shares valued at RM880.66 million.    The gainers included United Plantations Bhd, Carlsberg Brewery Malaysia Bhd, Heineken Malaysia Bhd, Malaysian Pacific Industries Bhd, Hong Leong Industries Bhd, Hong Leong Bank Bhd, LPI Capital Bhd, Nestle (M) Bhd and AirAsia Bhd. The actives included Bumi Armada Bhd, Tatt Giap Group Bhd, Sapura Energy Bhd, Iris Corp Bhd, Seacera Group Bhd, Hubline Bhd and Carimin Petroleum Bhd. The losers included Petronas Dagangan Bhd, Petronas Gas Bhd, Kuala Lumpur Kepong Bhd, Max...