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Showing posts from April, 2019

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KLCI Slides as Profit-Taking Hits Blue Chips, Ringgit Holds Firm

Malaysia’s benchmark index retreated as  profit-taking in key heavyweights  weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI :  1,684.93 (-0.83%) FBM Mid 70:  -0.00% (flat) FBM Small Cap:  -0.23% FBM ACE:  +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume:  3.54 billion shares Total value:  RM4.19 billion Gainers:  456 Losers:  678 Unchanged:  550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY)   +1.54% Petronas Gas (6033.MY)   +1.18% Sunway (5211.MY)   +1.15% Losers Hong Leong Bank (5819.MY)   -3.29% Maybank (1155.MY)   -3.02% CIMB (1023.MY)   -2.47% Banking sector weakness was the main ...
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Market Daily Report: KLCI bucks Asia stock decline as HLFG, Maybank gain

KUALA LUMPUR (April 30): The FBM KLCI gained 4.89 points or 0.3% to close at 1,642.29, partially lifted by gains in banking stocks including Hong Leong Financial Group Bhd (HLFG) and Malayan Banking Bhd (Maybank). HLFG closed 18 sen up at RM19.22 while Maybank gained 11 sen to RM9.25. HLFG and Maybank ended among Bursa Malaysia top gainers. “Some of the banking stocks rebounded, such as Maybank and HLFG which are constituent stocks. Especially Maybank, which is a heavyweight,” Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said. Across Bursa Malaysia, 2.36 billion shares were traded for RM2.24 billion.    Leading gainers included Carlsberg Brewery Malaysia Bhd and KLCI stock Digi.Com Bhd. Globally, the KLCI bucked Asia shares' decline today as investors evaluated China's April manufacturing and non-manufacturing purchasing managers index (PMI) numbers. Bloomberg reported that the manufacturing PMI stood at 50.1, down from 50.5 ...
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Market Daily Report: KLCI declines as Bursa T+2 settlement cycle kicks in

KUALA LUMPUR (April 29): The FBM KLCI closed down 0.98 point or 0.06% today after retail buying across Bursa Malaysia appeared to be dampened by the two-day securities settlement cycle (T+2 settlement cycle) debut on the local bourse. The T+2 settlement cycle replaces the T+3 scheme. At 5pm, the KLCI closed at 1,637.4 after falling to its intraday low at 1,631.83. On Friday (April 26), Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said in a statement that “the launch of T+2 settlement cycle will bring Bursa Malaysia in line with regional and major exchanges around the world". The statement said Friday was the last trading day for the T+3 settlement cycle. Today, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew said it was “uncharacteristic” of the KLCI to decline amid increases in most Asian markets. Pong pointed to the implementation of the T+2 scheme as a possible factor behind the KLCI's fall.  “The KLCI dipped,...
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