Malaysia’s corporate landscape saw a mix of fundraising activities, renewable energy expansion, IPO enthusiasm and balance sheet restructuring dominate headlines, reflecting continued investor appetite for growth and defensive sectors despite broader market caution. Tenaga Advances Renewable Energy Push KL: TENAGA strengthened its renewable energy ambitions after its subsidiary issued RM1.05 billion in Asean Green SRI Sukuk to finance a 500MW solar photovoltaic project in Kedah . The issuance highlights increasing institutional support for green financing and reinforces Tenaga’s long-term transition towards cleaner energy infrastructure. Investors may view the move positively as ESG-linked investments continue gaining traction across regional markets. Mr DIY Expands Funding Flexibility KL: MRDIY raised RM540 million via its maiden bond issuance , with proceeds earmarked for refinancing, working capital and expansion plans. The ...
KUALA LUMPUR (July 8): The FBM KLCI finished 16.78 points or 1.07% higher at 1,583.50 today in heavy trading on liquidity-driven buying.
Trading volume across Bursa Malaysia rose to another record high at 11.81 billion shares, worth RM4.36 billion. The previous record was 11.21 billion shares, registered on May 18.
Gainers surpassed losers at 619 to 353, while 482 counters closed unchanged.
Inter-Pacific Securities Sdn Bhd head of research Victor Wan said there was strong buying interest as more investors shifted their funds to the market.
“The current low interest rates environment encourages investors to
pour money into the equity market, as elsewhere the returns are pretty
low,” Wan told theedgemarkets.com.
Bank Negara Malaysia yesterday announced another cut in the Overnight Policy Rate (OPR) by 25bps to 1.75%, a record low since the floor was set in 2004.
So far this year, the central bank has slashed the OPR four times for a cumulative 125bps reduction.
In a note today, Hong Leong Investment Bank Research said it is not discounting the possibility that BNM will cut the OPR by another 25 bps in September.
Top gainers among the KLCI component stocks were Hap Seng Consolidated Bhd (up 53 sen or 6.22% at RM9.05), Petronas Dagangan Bhd (up 72 sen or 3.55% at RM21) and CIMB Group Holdings Bhd (up 10 sen or 2.7% at RM3.80).
Elsewhere in Asia, stocks dithered as an increase in coronavirus cases in some parts of the world undermined prospects for a quick economic recovery while oil prices eased on oversupply fears, Reuters reported.
Japan's Nikkei 225 dipped 0.78% and South Korea's Kospi sank 0.24%. Hong Kong’s Hang Seng Index, however, gained 0.59% while the Shanghai Stock Exchange Composite Index rose 1.74%.
Source: The Edge
Bank Negara Malaysia yesterday announced another cut in the Overnight Policy Rate (OPR) by 25bps to 1.75%, a record low since the floor was set in 2004.
So far this year, the central bank has slashed the OPR four times for a cumulative 125bps reduction.
In a note today, Hong Leong Investment Bank Research said it is not discounting the possibility that BNM will cut the OPR by another 25 bps in September.
Top gainers among the KLCI component stocks were Hap Seng Consolidated Bhd (up 53 sen or 6.22% at RM9.05), Petronas Dagangan Bhd (up 72 sen or 3.55% at RM21) and CIMB Group Holdings Bhd (up 10 sen or 2.7% at RM3.80).
Elsewhere in Asia, stocks dithered as an increase in coronavirus cases in some parts of the world undermined prospects for a quick economic recovery while oil prices eased on oversupply fears, Reuters reported.
Japan's Nikkei 225 dipped 0.78% and South Korea's Kospi sank 0.24%. Hong Kong’s Hang Seng Index, however, gained 0.59% while the Shanghai Stock Exchange Composite Index rose 1.74%.
Source: The Edge
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