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KUALA LUMPUR (Aug 30): The FBM KLCI rose 16.96 points or 1.06% today to close at its intraday high as news on US and China's willingness to continue trade negotiations buoyed world markets. At 5pm, the KLCI closed up at 1,612.14 points amid broad-based buying across Bursa Malaysia. All Bursa indices closed in positive territory save for the ACE Market gauge. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the KLCI rose on US-China trade optimism and as investors bargain hunted for selected KLCI stocks on August's final trading day today. Today also marks the conclusion of the Malaysian corporate financial reporting season for the April-to-June quarter. At a glance today, Bursa top gainers included KLCI components Petronas Dagangan Bhd, Hong Leong Financial Group Bhd and Kuala Lumpur Kepong Bhd.    “The sharp uptick on the key index (KLCI) was also in line with the positive sentiment across its regional peers," Leong told theedge...

KUALA LUMPUR (Aug 29): The FBM KLCI closed up 5.36 points or 0.34% today on bargain hunting and as foreign selling of Malaysian stocks appeared to have tapered off amid more optimistic corporate financial announcements during the current reporting season. At 5pm, the KLCI closed up at 1,595.18, led by top percentage gainer IOI Corp Bhd, to snap three consecutive days of losses. Today, the KLCI finished higher after falling to its intraday low at 1,584.83 as world recession concerns amid intensifying US-China trade war and the spectre of a no-deal Brexit affected sentiment. In Malaysia, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com that the unbroken spell of foreign selling appears to have tapered off after more optimistic corporate earnings were released. “The market seems to have also reversed into a gain with Dow Jones Industrial Average futures turning higher, providing a little tailwind. However we must not lose ...

KUALA LUMPUR (Aug 28): The FBM KLCI closed 1.02 points or 0.06% lower today after US recession fears led to apparent broad-based selling across Bursa Malaysia amid persistent US-China trade war concerns. At 5pm, the KLCI closed at 1,589.82 after falling to its intraday low at 1,585.66 in volatile trade when the index vacillated between gains and losses. The sharp afternoon rise in components Tenaga Nasional Bhd and MISC Bhd's share price mitigated the KLCI's drop. Bursa's index for small market capitalisation stocks closed down 77.26 points or 0.59% at 12,912.32. Reuters reported that a deepening of the inversion in the yield curve between the 2-year and 10-year US Treasuries underscored worries about a weakening global economy.    In Malaysia, Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com: “Market participants could be taking it as a sign of a potential slowdown in economic activities moving forward,...

KUALA LUMPUR (Aug 27): The FBM KLCI slipped 9.69 points or 0.61% mainly on foreign selling amid weaker Malaysian corporate financial reports and persistent US-China trade war concerns. At 5pm, the KLCI finished at its intraday low of 1,590.84 after broad-based selling across Bursa Malaysia. The index for small market capitalisation stocks closed down 28.22 points or 0.22% at 12,989.58. TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com the local stock market was not inspired by rebounds in Asian bourses due to weaker Malaysian corporate earnings reports during the ongoing reporting season for the April-to-June quarter. "The market today is seeing quite a fair bit of selling pressure, mostly from foreign selling as caution prevails. It may be the weaker corporate earnings dragging on sentiments.    "With more corporate earnings due to be released over the next few days, the index (KLCI) is expected to trade si...

KUALA LUMPUR (Aug 26): The FBM KLCI settled 8.8 points or 0.55% lower at 1,600.53 today, after broad-based selling across Bursa Malaysia, following the US and China's planned additional tariffs on each other's goods in tit-for-tat responses, which led to escalating US-China trade war concerns. At 5pm, all Bursa indices finished in negative territory except for the real estate investment trust (REIT) gauge. The index for small market capitalisation stocks closed down 124.84 points or 0.95% at 13,017.80. The KLCI cut losses after falling to its intraday low at 1,590.51. At 5pm, the top percentage decliner among the 30 KLCI-linked stocks was Petronas Chemicals Group Bhd, after the counter closed down 31 sen or 4.29% at RM6.91. Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com that the market seems to be taken aback, after the sudden outburst that appears to be an emotive response to tariffs announced by the US. ...

KUALA LUMPUR (Aug 22): The FBM KLCI finished up 7.88 points or 0.49% today, led by AMMB Holdings Bhd share price rise and as investors took cue from overnight US equity gains as they tried to predict the quantum of future US interest rate cuts. At 5pm today, the KLCI closed up at 1,602.47, led by component AMMB Holdings Bhd's (AmBank) 24 sen or 6.15% rise to RMRM4.14. AMMB was the top percentage gainer among the 30 KLCI stocks. AMMB shares rose after the financial services provider reported earlier today first quarter net profit climbed to RM391.46 million from RM347.59 million a year earlier. Revenue was higher at RM2.39 billion from RM2.17 billion, AMMB said. The KLCI closed higher today after falling 8.16 points or 0.51% to 1,594.59 yesterday. Today, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com there is hope for further recovery in the KLCI after he noted that the index had nearly recovered yesterday's loss. “S...

KUALA LUMPUR (Aug 21): The FBM KLCI closed 8.16 points or 0.51% lower today after an 11th-hour plunge following a sharp drop in prices of several component stocks and as investors looked ahead to US interest rate updates this week. At 5pm, the KLCI closed at its intraday low at 1,594.59 as components including Petronas Gas Bhd, MISC Bhd and CIMB Group Holdings Bhd ended among Bursa Malaysia top decliners. Leading gainers included automotive stock MBM Resources Bhd. AmInvestment Bank Bhd head of retail research Joseph Chai Lipe Tatt said the research firm expects the KLCI to stay within 1,572 and 1,620 for the rest of this month. "Only if the KLCI surpasses the 1,620 level can we expect a bigger upside swing. If not, it will stay range bound until towards the end of this month.    "I think the market is engaging on a more thematic play, where the theme for this week is automotive. We can see that tech stocks are taking a breather now, so a lot ...

KUALA LUMPUR (Aug 20): The FBM KLCI closed up 6.3 points or 0.39% today, after global share markets rose on stimulus hopes in major economies like China and Germany, amid slowdown concerns due to the US-China trade war. In Malaysia, analysts said investors are also taking cue from the current corporate financial reporting season for the April-to-June quarter. At 5pm today, the KLCI ended at 1,602.75, as components, including Petronas Dagangan Bhd and CIMB Group Holdings Bhd, closed among Bursa Malaysia top gainers. RHB Investment Bank Bhd regional equity research head Alexander Chia said the market is still looking for more signals to get a sense of how the Malaysian corporate sector will fare this year. "Investors are likely to remain trading at range-bound (levels), as they evaluate corporate earnings reports released within the next two weeks.   "It is still a bit too early to point out any trends, but so far, corporate earnings have been i...

KUALA LUMPUR (Aug 5): The FBM KLCI closed 16.35 points or 1.01% lower, while small market capitalisation (small cap) stocks fell by larger quantum, amid the spectre of a protracted trade war, after US President Donald Trump said the US will impose a 10% tariff on the remaining US$300 billion of Chinese imports. Such sentiment hit the ringgit after China allowed the yuan to weaken past the key 7-per-US dollar mark on Monday, for the first time in more than a decade, in an apparent response to Trump's tariff threat. At Bursa Malaysia, the KLCI closed at its intraday low at 1,610.41, while  the small cap index fell 294.23 points or 2.2% to 13,080.16, after major Asian stock indices ended substantially lower. In China, the Shanghai Stock Exchange Composite closed down 1.62%, while Hong Kong’s Hang Seng fell 2.85%. Elsewhere across Asia, Japan's Nikkei 225 dropped 1.74%, while South Korea's Kospi fell 2.56%. In currency markets, the ringgit weakened ...

KUALA LUMPUR (Aug 1): The FBM KLCI closed up 4.2 points or 0.26% today at 1,639.07 on bargain hunting after falling earlier with Asian share markets as the US Federal Reserve dampened market expectation of more interest rate cuts following a 25 basis point reduction on Wednesday. Reuters reported today that Asian shares slipped to six-week lows on Thursday while the dollar jumped to two-year highs as the Federal Reserve rattled markets by signalling that its first rate cut in more than a decade was not the start of a lengthy easing cycle. It was reported that investors were pricing in more than 100 basis points of easing from the Fed over the next year, sending world equities soaring to record highs in recent days. But Fed Chair Jerome Powell dented those bets, sounding far more circumspect about the need for further policy easing. In Malaysia, Rakuten Trade Sdn Bhd deputy head of research Vincent Lau told theedgemarkets.com there might have been some bargai...