MONEY MASTER

  KUALA LUMPUR (Dec 31): The benchmark index at Bursa Malaysia fell 17.2 points or 1.05% to 1,627.21 points today, as investors took profit on the last trading day of 2020 prior to the extended New Year weekend. Losers led gainers by 620 to 474, while 501 counters traded unchanged. Some 5.51 billion shares worth RM3.11 billion were traded today. The losers list was topped by Fraser & Neave Holdings Bhd, which slid 60 sen or 1.84% to RM32.08, Nestle (M) Bhd, which fell 60 sen or 0.43% to RM138.9, and Kuala Lumpur Kepong Bhd, which dropped 52 sen or 2.15% to RM23.68. Also on the losers list, at the 11th spot, was Sime Darby Plantation Bhd, which lost 18 sen or 3.48% to settle at RM4.99, following news that the United States has banned imports of palm oil from the group. Meanwhile, Malaysian Pacific Industries Bhd, Toyo Ventures Holdings Bhd and BLD Plantation Bhd were among the top gainers. MPI rose RM1.08 or 4.34% to RM25.96, while Toyo Ventures again hit limit u...

    KUALA LUMPUR (Dec 30): The FBM KLCI closed up 9.42 points or 0.58% at 1,644.41 today after MSCI's gauge of Asia-Pacific shares climbed to a record high on world economic recovery bets in anticipation of continued global monetary and fiscal policy support. Fund managers’ portfolio window dressing is also seen contributing to Malaysian share gains. Across Bursa Malaysia at 5pm, 7.82 billion securities were traded for RM3.65 billion. "Stocks should return to base building mode to strengthen higher supports pending potential late window-dressing action ahead of the year-end,” TA Securities Holdings Bhd analysts wrote in a note today. Globally, it was reported that Asian shares hit a record high on Wednesday with investors betting on a strong economic recovery next year, as there is little sign of policymakers winding back massive stimulus efforts aimed at staving off coronavirus-fuelled downturns. It was reported that MSCI's gauge of Asia-Pacific shares excludi...

  KUALA LUMPUR (Dec 28): The FBM KLCI today closed 2.73 points or 0.17% higher after the extended Christmas weekend, following the release of the country's better-than-expected November export figures. At 5pm, the local benchmark index closed at 1,643.9 points. Besides the November export figure — which rose for the third straight month and was up 4.3% year-on-year — progress on the US fiscal stimulus aid also lifted the benchmark index, according to Rakuten Trade Research vice president Vincent Lau. Reuters reported that US President Donald Trump signed a US$2.3 trillion financial aid and spending bill after initially refusing to approve the legislation, which restores unemployment benefits to millions and averts a partial federal government shutdown. At the same time, Europe has launched a mass Covid-19 vaccination drive on Sunday, while vaccinations have also begun in Britain and the United States, raising hope that major economies can shake off the drag caused by...

KUALA LUMPUR (Dec 23): The FBM KLCI snapped a four-day losing streak on bargain hunting today, in line with gains in regional markets. The index ended the day 0.95% or 15.58 points higher at 1,647.5, reversing almost all of yesterday’s losses. After opening 0.37 points lower at 1,631.55, the KLCI declined further to 1,627.53 before rebounding to positive territory as bargain-hunting emerged.  MIDF's head of research Imran Yassin Md Yusof said the market was calmer today after the knee-jerk reaction to news of a new more transmissible variant of the Covid-19 virus in the UK, which had dented market sentiment globally. The KLCI’s recovery today was mainly due to bargain hunting, he told theedgemarkets.com when contacted. On the broader market, 841 counters finished higher versus 349 losers, while 446 others were unchanged.  A total of 6.31 billion securities worth RM3.41 billion were traded, which is lower compared with 7.84 billion securities traded at a total ...

    KUALA LUMPUR (Dec 22): The FBM KLCI ended almost 1% lower today on continued profit taking, as sentiment remained jittery on concern over the resurgence of Covid-19 cases. The benchmark index stayed in negative territory throughout the trading session. It closed 0.97% or 15.97 points down at 1,631.92 after hitting an intra-day low of 1,625.39. TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com that worries over a new strain of Covid-19 in Europe affected market sentiment. He added that the downtrend was also due to profit taking in recovery play on technology, banking and tourism-related stocks. On the broader market, 1,046 counters finished lower versus 251 gainers, while 395 others were unchanged. A total of 7.84 billion securities were traded at a total value of RM4.12 billion. The heavyweights that dragged the KLCI included Genting Malaysia Bhd (down 15 sen or 5.43% at RM2.61) and Genting Bhd (down 24 sen or 5.27% at ...

  KUALA LUMPUR (Dec 18): The FBM KLCI slipped 1.31% or 21.86 points today, tracking declines in regional peers, while news of the conditional movement control order being extended weighed on domestic investing sentiment. The benchmark index settled at 1,652.49, with 852 counters in the negative versus 370 that climbed, while 474 were unchanged. Senior Minister Datuk Seri Ismail Sabri Yaakob announced today that the CMCO will be extended in Selangor, Kuala Lumpur and Sabah till Dec 31, as Covid-19 infections in these places remain elevated. This is the fourth extension of the CMCO that was first imposed on Oct 14 and originally scheduled to end on Oct 27. The CMCO was also extended till Dec 31 in Seremban and Port Dickson in Negeri Sembilan, and in Johor Bharu, Batu Pahat and Kulai in Johor. TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com that window-dressing activities were absent following news about the CMCO extension, which ...

    KUALA LUMPUR (Dec 17): The FBM KLCI finished 0.42% or 7.06 points lower today at 1,674.35, snapping a two-day gaining streak. The retreat today was largely on account of declines in Hong Leong Financial Group Bhd, Petronas Dagangan Bhd and RHB Bank Bhd. Rakuten Trade Research vice president Vincent Lau said the decline was on account of profit-taking and news about the uplifting of the short-selling ban come Jan 1 next year. "It is likely a reaction due to lifting of the ban yesterday, combined with profit-taking activities," he said. Across the local bourse, decliners dominate with 666 counters dropping versus 422 that saw gains, while 601 went unchanged. Top actives were Sapura Energy Bhd, Sino Hua-An International Bhd and Bumi Armada Bhd. Top gainers were Kuala Lumpur Kepong Bhd, UWC Bhd and Ralco Bhd. Fraser & Neave Holdings Bhd, Nestle Malaysia Bhd and Carlsberg Brewery Malaysia Bhd were the biggest losers today. In terms of trading volume, 9.24 billion...

  KUALA LUMPUR (Dec 16): The FBM KLCI extended its gain for the second day running, tracking uptrends in regional bourses thanks to positive market sentiment emanating from the overnight surge on Wall Street and supported by ongoing window-dressing activities as well as Budget 2021 being approved by the Dewan Rakyat yesterday.   At 5pm, the FBM KLCI closed 0.44% or 7.39 points higher at 1,681.41, after moving between 1,679.39 and 1,695.87. Across Bursa Malaysia today, the sentiment was positive with 830 gainers versus 453 decliners, while 458 counters were unchanged. A total of 11.22 billion securities were traded for RM5.18 billion, higher compared to 9.96 billion units worth RM5.09 billion recorded yesterday. Reuters reported that Asian stocks were buoyant on Wednesday and the US dollar eased as hopes of effective coronavirus vaccines and the growing prospect of more US fiscal stimulus cheered investors ahead of the Christmas holiday season. The fresh optimism...

  KUALA LUMPUR (Dec 15): The FBM KLCI bucked regional trends and closed up 11.28 points or 0.68% at 1,674.02 after news reports indicated that Budget 2021 has passed its final vote at the Dewan Rakyat today. Rakuten Trade Research vice president Vincent Lau told theedgemarkets.com today the biggest driver of the KLCI’s rise is the passing of Budget 2021 at third reading in parliament this afternoon. The news reported that the third reading of Budget 2021 was passed in Dewan Rakyat today after the opposition lost another en bloc vote by a razor-thin margin. A total of 111 Members of Parliament voted in favour of Budget 2021, which was proposed by the Perikatan Nasional government, versus 108 who voted against the budget, while one was absent. Across Bursa Malaysia today, sentiment was mixed with 657 gainers versus 524 decliners, while 525 counters were unchanged. A total of 9.96 billion securities were traded for RM5.09 billion, lower than the 11.88 billion u...

KUALA LUMPUR (Dec 14): The FBM KLCI declined today after five straight sessions of gains, as investors decided to take profit after the market sentiment was affected by local political developments.  The index ended down 1.3% or 21.84 points at 1,662.74, moving between 1,662.45 and 1,695.96 in a choppy trading session. On the broader market, more than 900 stocks ended in red.   Among KLCI component stocks which declined were glove makers Hartalega Holdings Bhd, Supermax Corp Bhd and Top Glove Corp Bhd, as well as Nestle (M) Bhd and Public Bank Bhd. Bursa Malaysia’s healthcare index, which includes glove makers, was down 5.16% at 3,625.10, its lowest level since Sept 24. Hartalega fell RM1.76 or 12.83% to RM11.96, Supermax dropped 80 sen or 10.58% to RM6.76 and Top Glove sank 60 sen or 8.7% to RM6.30. Kossan Rubber Industries Bhd, meanwhile, fell 69 sen or 12.8% to RM4.7. Remisier Jeffry Azizi Jaafar told theedgemarkets.com that the KLCI retreated from early ga...

    KUALA LUMPUR (Dec 11): The FBM KLCI closed the day 30.19 points higher at 1,684.58, up 1.83% from the previous day's close, driven by a rally in banking and financial services-related stocks as investors switch to recovery play, boosted by positive sentiment fuelled by vaccine news. Leading the rally was Public Bank Bhd, which announced a four-for-one bonus issue recently. The top gainer across the stock exchange today, it closed 8.42% or RM1.70 higher at RM21.90. Other financial blue chips that posted gains were Hong Leong Financial Group Bhd, Hong Leong Bank Bhd, Malayan Banking Bhd, AMMB Holdings Bhd (AmBank Group), BIMB Holdings Bhd, AEON Credit Service (M) Bhd, CIMB Group Holdings Bhd and LPI Capital Bhd as well as Allianz Malaysia Bhd. This drove the Financial Services index up 727.09 points to 16,046.13 points. Overall, however, losers still outpaced gainers across the bourse today, with 690 in the red versus 626 in the green, while 433 counters were...

  KUALA LUMPUR (Dec 10): The FBM KLCI continued to advance today, constituting the third consecutive trading day of gains. The local headline index closed 0.48% or 7.96 points higher at 1,654.39 points, the highest it has been in 18 months. The counters that lifted the index were banking stocks CIMB Group Holdings Bhd, Hong Leong Financial Group Bhd (HLFG) and rubber glove manufacturer Top Glove Corp Bhd. CIMB finished 5.68% or 23 sen higher at RM4.28 while HLFG was up 2.27% or 40 sen higher at RM18. As for Top Glove, it finished 2.19% or 15 sen higher at RM6.99. Conversely the top decliners today were MISC Bhd, Hartalega Holdings Bhd and Petronas Dagangan Bhd (PetDag). In a note, TA Securities Research said key index heavyweights may continue to rise on economic recovery optimism while the broader market will go on a profit-taking break to consolidate recent strong gains. “Next immediate index resistance will be 1,660 and then 1,680, with following upside hurdle seen fr...

  KUALA LUMPUR (Dec 9): Public Bank Bhd lead the charge among counters on the FBM KLCI, which finished 0.91% or 14.83 points higher at 1,646.53 today, its highest in 18 months. At market close today, Public Bank was the top gainer on the local bourse as well as the benchmark index after it announced its bonus share issue yesterday. Shares in the bank had finished RM7.58 or RM1.40 higher at RM19.86, valuing it at RM77.10 billion. It saw a trading volume of 19.83 million shares. Two other banks dominated the top gainers list on the FBM KLCI, namely Hong Leong Bank and RHB Bank Bhd. Hong Leong Bank was the second top value gainer on the local bourse. Its share price rose 3.62% or 66 sen to RM18.88, yielding a market value of RM40.93 billion. As for RHB, it gained 3.57% or 20 sen to RM5.80, yielding a market capitalisation of RM23.26 billion. Conversely, the top laggards on the index are Top Glove Corp Bhd, Telekom Malaysia Bhd and Axiata Group Bhd. In a note, TA Securi...

  KUALA LUMPUR (Dec 8): The FBM KLCI finished stronger today, posting a 0.54% or 8.81-point gain to finish at 1,631.70, as investors return to glove manufacturers' stocks. The headline index is now the highest it has been since June 2019. Malacca Securities Head of Research Loui Low opined that the increase in the headline index was driven by investor interest in rubber glove stocks. “It is worth noting that Top Glove Corp Bhd’s results will be released tomorrow, so there might be buying in anticipation of their results,” he said. He pointed out that when there is greater buying interest in the counter, this tends to spill over onto other glove counters as well. He added that some investors view that rubber glove stocks have more earnings certainty compared to other blue-chip counters amid the pandemic, noting that in the US and in Europe Covid-19 cases are still on the uptrend. Indeed, the top movers for the FBM KLCI were Top Glove Corp Bhd, Genting Bhd, Petronas...

  KUALA LUMPUR (Dec 7): The FBM KLCI managed to eke out a 0.06% or 1.04-point gain today, rising to 1,622.89. Malaysia’s headline index had opened slightly higher at 1,622.94 and reached its intra-day high of 1,627.59 at 4.20pm, but pared its gains at the close. Rakuten Trade Research vice president Vincent Lau noted that the minor gain was the result of window-dressing activities. The top gainers among the FBM KLCI were Petronas Chemicals Group Bhd, Genting Bhd and Hong Leong Financial Group Bhd. In terms of total trading volume today, the local bourse saw 16.49 billion shares worth RM7.23 billion traded. This trading volume is the highest seen since Nov 17, 2020. "Today’s trading volume was on account of greater retail investor participation, which is expected to be vibrant at least in the near term," he noted. Top actives included Yong Tai Bhd, Top Builders Capital Bhd and PA Resources Bhd. Meanwhile, today’s top value gainers were British American Tobacco (M...

  KUALA LUMPUR (Dec 4): The FBM KLCI scaled back slightly today from the 16-month high it reached yesterday as investors took profit after the strong gains, which saw the benchmark index easing 0.39% to settle at 1,621.85 on market close. The FBM KLCI, which moved between 1,618.54 and 1,628.82 throughout the day, shed 6.41 points. Market breath was largely negative with losers outnumbering gainers at 732 against 579, while 429 counters were unchanged. In contrast, the index surged 29.54 points or 1.85% to close at 1,628.26 yesterday, with over 900 stocks as gainers. Besides profit-taking, TA Securities Holdings Bhd senior technical analyst Stephen Soo said the weakness in KLCI today was partly due to the sell-down in glove stocks as the market switched to recovery play amid positive developments in the Covid-19 vaccine space. Among the heavyweights that dragged the FBM KLCI were Top Glove Corp Bhd (down 13 sen or 1.92% to RM6.65) Supermax Corp Bhd (down 41 sen  ...

  KUALA LUMPUR (Dec 3): The FBM KLCI rose 29.54 points or 1.85% to 1,628.26 today while trading volume across Bursa Malaysia topped 12 billion securities as fund managers bought shares of Malaysian companies seen as beneficiaries of an anticipated economic recovery following a double dose of good news on the UK’s approval for the Pfizer-BioNTech Covid-19 vaccine and the sharp drop in Malaysia’s new Covid-19 cases. Across Bursa at 5pm, 12.37 billion securities were traded for RM6.17 billion. Gainers led decliners by 907 to 401 respectively. Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com that the vaccine news catapulted the KLCI to its intraday high as fund managers took positions in shares of companies seen as beneficiaries of an expected economic recovery following Covid-19-driven economic weakness due to global restricted movement policies to curb the spread of the outbreak. “On prospects, owing to low base effect, Bursa’s ...

    KUALA LUMPUR (Dec 2): The FBM KLCI closed down 3.54 points or 0.22% at 1,598.72 today after profit taking in the final trading hour following an afternoon rise in an apparent response to news the UK became the first country to approve the Pfizer-BioNTech Covid-19 vaccine. Lower crude oil prices however offset the impact of the Covid-19 vaccine-driven sentiment on equities. Across Bursa Malaysia at 5pm, 9.22 billion securities were traded for RM5.43 billion. There were 640 gainers and 557 decliners as investors also weighed Malaysia’s weaker manufacturing data and the economic impact of the Covid-19 pandemic. Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com that "weaker manufacturing data released yesterday weighed on market sentiment”. Globally today, it was reported that Asian shares rose on Wednesday after a strong lead from Wall Street fuelled by hopes for additional US economic stimulus and a coronavirus vaccine, but trade ...

    KUALA LUMPUR (Dec 1): The FBM KLCI swiftly rebounded today on strong bargain hunting, reversing almost all of yesterday’s losses caused by a sharp 11th-hour selldown. The benchmark index closed 39.55 points or 2.53% higher at 1,602.26. It had risen nearly 40 points within the first one-and-a-half hours to breach the 1,600 level. TA Securities Holdings Bhd senior technical analyst Stephen Soo said external factors, such as China’s manufacturing sentiment that hit a decade high and the acceleration in vaccine development, triggered the optimism in the market. He said yesterday’s selldown was overdone and exaggerated. “It was anticipated among the investor fraternity that there will be a selldown but not as drastic as yesterday’s,” he told theedgemarkets.com . Going forward, Soo said the market trend will continue to be choppy and see more vaccine and recovery play. “From the rubber glove players, there will be a rotational play to vaccine and economic recover...

KUALA LUMPUR (Nov 30): The FBM KLCI closed down 44.88 points or 2.79% at 1,562.71 today after diving in the final trading hour against a confluence of factors including lower crude oil prices and equity losses as investors weighed Malaysia's corporate financial results amid Covid-19 driven economic weakness. Across Bursa Malaysia at 5pm, 9.02 billion securities were traded for RM7.71 billion. Bursa’s Financial Services index fell the most in percentage terms at 3.22% among bourse gauges. Top declining stocks included KLCI entities Petronas Dagangan Bhd, Public Bank Bhd, Tenaga Nasional Bhd, Petronas Chemicals Group Bhd and Malayan Banking Bhd (Maybank). Rakuten Trade Sdn Bhd research vice president Vincent Lau told theedgemarkets.com that the drop in the KLCI today might have just been a minor pullback, after a favourable performance throughout the month of November.  "It was probably just the month-end rebalancing of portfolios [by investors]. Market sentiment ...

    KUALA LUMPUR (Nov 27): The FBM KLCI eased from its 11-month high, dropping 0.28% as profit-taking emerged. Still, the benchmark index ended the week above the 1,600-point level at 1,607.59 points — the highest weekly closing since July 31.  Across the board, persistent interest in penny stocks, which dominated the actively traded list today with handsome gains, lifted the FBM Small Cap Index to 14,588.15 points — the highest closing since end-August 2018.  The trading interest in penny stocks also boosted the trading volume in the local bourse to more than 10 billion at 10.36 billion shares. The last time that Bursa Malaysia’s trading volume exceeded 10 billion shares was more than a week ago on Nov 18, when it was at 14.41 billion shares. Gainers outnumbered losers by 621 versus 605, while 406 counters remained unchanged. TA Securities Holdings Bhd senior technical analyst Stephen Soo said there were some profit-taking activities today in the local...

  KUALA LUMPUR (Nov 26): The FBM KLCI closed up 14.53 points or 0.91% at its intraday high of 1,612.11 today after news reports indicated that Parliament had approved the Malaysian government's proposed Budget 2021 and as local equities took a cue from the global stock market rise. MIDF Amanah Investment Bank Bhd research head Imran Yassin Yusof told theedgemarkets.com today the biggest driver for the KLCI’s rise is the Parliament’s approval for Budget 2021. Across Bursa Malaysia today, sentiment was positive with 816 gainers versus 412 decliners. A total of 8.87 billion securities were traded for RM4.68 billion as global stocks took cue from encouraging news on Covid-19 vaccine trials and updates on the US Government transition to President-elect Joe Biden’s administration. It was reported today that Asian shares advanced on Thursday as market euphoria over Covid-19 vaccines and expectations that a Biden administration would deliver more economic stimulus and politic...

    KUALA LUMPUR (Nov 25): The FBM KLCI climbed 1.22% today, buoyed by the overnight record closing on Wall Street amid news that the Trump administration agreed to start the transition process for President-elect Joe Biden to the White House.  Furthermore, the optimism the economic landscape will turn more favourable underpinned the positive sentiment.  The FBM KLCI rose 19.19 points to 1,597.58, after moving between 1,582.31 and 1,600.20. Leading the climb on the KLCI today were banking stocks Public Bank Bhd, which surged 54 sen or 2.94% to RM18.892, and CIMB Group Holdings Bhd, which climbed 14 sen or 3.85% to RM3.78. Meanwhile, Hong Leong Bank Bhd rose 20 sen or 1.19% to RM17.04, Hong Leong Financial Group Bhd went up 60 sen or 3.77% to RM16.50, Malayan Banking Bhd increased nine sen or 1.11% to RM8.22 and RHB Bank Bhd rose seven sen or 1.41% to RM5.05. In contrast, Top Glove Corp Bhd continued to be under selling pressure as the world’s larges...

  KUALA LUMPUR (Nov 24): The FBM KLCI closed down 19.09 points or 1.2% at 1,578.39 today while the number of Bursa Malaysia decliners rose sharply to above 1,000 as the surge in the country’s new Covid-19 cases to a record high weighed on investor sentiment. Anticipation on the Budget 2021 vote in Parliament this Thursday (Nov 26) also led to profit taking in the stock market today. Analysts and remisiers said today the spike in the number of new Covid-19 cases in the country has increased the level of uncertainty over the outlook for the nation's economic growth.  "Stocks are likely to trade sideways ahead of the highly anticipated vote to pass Budget 2021 by Parliament this Thursday, with the uncertainty causing investors to be sidelined,” TA Securities Holdings Bhd analysts wrote in a note today. Across Bursa today, there were 1,093 decliners versus 250 gainers. A total of 8.36 billion securities were traded for RM4.28 billion. Top decliners included KLCI st...

  KUALA LUMPUR (Nov 23): The FBM KLCI closed up 3.73 points or 0.23% at 1,597.48 today to trail Bursa Malaysia’s Energy index’s 5.55% gain as the Brent crude oil price rose past the US$45 (RM184.07) per barrel level following news of successful Covid-19 vaccine trials.  The KLCI’s gain was, however, limited by investors' caution ahead of Malaysia's parliamentary voting on the proposed Budget 2021 on Wednesday (Nov 25), according to analysts. Malacca Securities Sdn Bhd head of research Loui Low told theedgemarkets.com that higher crude oil prices lifted sentiment on the local bourse and helped the KLCI close in positive territory today.  "The gain in the KLCI, however, was seen capped as local investors stayed wary as they were waiting for the final result of the Budget 2021 vote this week," he said. Across Bursa today, 9.43 billion securities were traded for RM4.52 billion as oil and gas (O&G)-related shares ro...