MONEY MASTER

   KUALA LUMPUR (Oct 30): The FBM KLCI closed 1.89% lower today on profit taking amid cautious sentiment ahead of crucial developments at home and abroad.  The downtrend was in line with falls in regional markets as fears of a global economic slowdown amid surging coronavirus cases affected sentiment, while investors also looked ahead to the US presidential election next Tuesday (Nov 3).  Areca Capital Sdn Bhd CEO Danny Wong said overall investor sentiment was one defined by caution amid next week’s developments.    “Next week is set to be an eventful week with Budget 2021, Bank Negara Malaysia’s Monetary Policy Meeting and the US presidential elections.    “As such, those that are currently sitting on gains would want to take profit, while those that are not are still trading to mitigate uncertainties,” he said.   The KLCI ended 28.31 points lower at 1,466.89.   The weak sentiment spread across the trading floor with sm...

  KUALA LUMPUR (Oct 28): The FBM KLCI closed lower as market sentiment remained cautious with political uncertainties still lingering ahead of the Budget 2021 announcement next week.  The key index was in negative territory for the most part of the trading session, before closing 5.15 points or 0.34% lower at 1495.2.  Market breadth was thin with 4.66 billion shares traded at a total value of RM3.44 billion, with losers dominating the market by 657 against 267 winners.  Reuters noted that Malaysian shares eased as political tensions cast doubt over whether the government could pass the 2021 budget next week.  "All eyes are on the 2021 Federal Budget next week, which comes as a key test of confidence in Prime Minister Tan Sri Muhyiddin Yassin's coalition government," the news agency quoted analysts at ING as saying.  TA Securities, in a market report today, said the exponential surge in Covid-19 cases in the US and Europe should boost the dema...

   KUALA LUMPUR (Oct 27): The FBM KLCI ended the trading day above the 1,500 level, boosted by healthcare stocks after Hartalega Holdings Bhd posted another record set of quarterly results. At 5pm, the benchmark index closed 5.74 points or 0.38% higher at 1,500.35, supported by 616 gainers against 379 losers. The FBM KLCI was the exception among other regional indices that fell, in line with Wall Street’s sharp overnight drop — the biggest decline in a month — amid soaring Covid-19 cases and slow progress on a US stimulus deal. Japan’s Nikkei 225 dipped 0.04% while South Korea’s Kospi dropped 0.56%. China shares also declined with the Hang Seng falling 0.53%. Meanwhile, the Shanghai Composite Index rose 0.1%. Inter-Pacific Securities Sdn Bhd head of research Victor Wan noted that there was a mild rally on the market today, likely due to Hartalega. The glove maker today announced that it recorded its best-ever quarterly net profit at RM544.96 million in the second...

    KUALA LUMPUR (Oct 26): Selling pressure continued to manifest across Bursa Malaysia today, with low liners being hit the most by a dampening of investor sentiment due to political developments. At the close of the trading day today, the FBM ACE was the top loser among the indices on Bursa Malaysia, with its losses outpacing that of the FBM KLCI index. The FBM ACE index finished 3.61% or 383.30 points lower at 10,223.47, while the FBM Small Cap Index finished 1.25% or 202.69 points down at 15,977.44. Meanwhile, the headline FBM KLCI index was down 0.03 points at 1,494.61. Across Bursa Malaysia today, 677 counters demonstrated declines, 301 counters were up, while 491 counters finished the trading day unchanged. Trading volume stood at 5.80 billion shares, whereas daily turnover was RM4.71 billion. Top actives today were newly-listed Mr DIY Group (M) Bhd, Vsolar Group Bhd and Advance Synergy Bhd. Kuala Lumpur Kepong Bhd, Malaysian Pacific Industries Bhd and Fras...

    KUALA LUMPUR (Oct 23): Share prices have reversed their upward trend seen earlier on Bursa Malaysia today, as speculation has run rife that a national health emergency, which could include the suspension of Parliament, may be declared. The FBM KLCI, which posted gains at the end of the morning trading session, fell into the negative zone in the afternoon trading session. The benchmark index dropped by 4.16 points or 0.3% to close at 1,494.64. On the broader market, the ACE Market Index fell by 3.15% or 344.43 points to 10,606.77. The FBM Small Cap Index shed 2.57% or 353.45 points to 13,413.66. A majority of stocks closed lower today, with 900 decliners against 232 gainers while 425 counters were unchanged. Selling pressure only got stronger in the final hour of trading before the closing bell at 5pm. In terms of trading volume, some 6.93 billion shares worth RM4.10 billion were traded today. Top actives were MLabs Systems Bhd, AT Systematiza...

    KUALA LUMPUR (Oct 22): The FBM KLCI closed 6.4 points or 0.43% higher at 1,498.80 today after a final hour spike helped the 30-stock index erase losses as world markets took a cue from a surge in global Covid-19 infections and US stimulus negotiations. Across Bursa Malaysia at 5pm today, 6.73 billion securities were traded for RM4.6 billion. The KLCI ended higher after volatile trade, during which the index rose to its intraday high of 1,500.05 points before falling to its intraday low of 1,485.77.   A closer look across Bursa Malaysia shows that several stocks including KLCI constituents PPB Group Bhd and Petronas Dagangan Bhd finished higher after spiking in the final hour of trading. PPB ended up 32 sen or 1.7% at RM19.10 while Petronas Dagangan rose 24 sen or 1.34% to RM18.12. Both counters finished among Bursa’a top 10 gainers. The KLCI's volatility today was not unexpected as investors evaluated a confluence of factors including the impact of ...

  KUALA LUMPUR (Oct 21): The FBM KLCI finished in negative territory for a second straight day, dragged down by glove stocks which dominated Bursa Malaysia’s top losers. At 5pm, the benchmark index closed 18.57 points or 1.23% lower at 1,492.4. Market breadth remained mostly negative with 754 losers versus 374 gainers. Meanwhile, trading momentum was fairly active with 8.48 billion shares traded for RM5.95 billion. Malacca Securities Sdn Bhd head of research Loui Low told The Edge that today’s decline is likely due to a mixed bag of negative factors such as market concerns of snap elections and speculation on what is to be announced during the upcoming Budget 2021 at Parliament in two weeks’ time. The big four glove stocks — Hartalega Holdings Bhd, Supermax Corp Bhd and its structured warrants, Top Glove Corp Bhd and Kossan Rubber Industries Bhd — dominated Bursa’s top losers' list today. At market close, Hartalega fell RM1.20 or 6.3% to RM17.84, while Supermax close...

     KUALA LUMPUR (Oct 20): The FBM KLCI finished 7.14 points or 0.47% lower at 1,510.97 today on profit taking while trade volume across Bursa Malaysia swelled past 11 billion securities on what analysts deem as a strong return of retail investors’ interest in small market capitalisation stocks (small caps) in the rubber glove and healthcare-related sectors amid a rising number of COVID-19 infections globally. Across Bursa at 5pm, volume swelled to 11.04 billion securities worth RM5.83 billion after broad-based selling across the exchange. Inter-Pacific Securities Sdn Bhd head of research Victor Wan told theedgemarkets.com that today's selling across Bursa "was spurred by profit-taking as market momentum remained tepid on a lack of buying impetus". On the KLCI, Wan noted a lack of continued momentum today after yesterday's positive trading session. He said today political developments and uncertainties are likely to be on investors' minds for now....

  KUALA LUMPUR (Oct 19): The FBM KLCI closed in a positive territory for the first time after three straight sessions of losses, lifted by healthcare stocks, which saw a boost amidst rising Covid-19 cases. The benchmark index ended 14.27 points or 0.99% higher at 1,518.11, while the broader market saw 722 gainers against 386 losers, on volume of 9.5 billion shares worth RM5.43 billion. Leading the climb on the index was Hartalega Holdings Bhd, which rose 62 sen or 3.37% to RM19.00, and Top Glove Corp Bhd, which jumped 35 sen or 3.78% higher to RM9.60. The KLCI showed gains throughout the day, recovering from the dampened sentiment on the back of political uncertainty that has dominated news flow in recent weeks. "Given renewed bearish momentum flashed by technical indicators for the FBM KLCI after last week's correction, the local market is expected to extend downward correction this week. "Domestic political uncertainties, resurgent Covid-19 infections and ...

    KUALA LUMPUR (Oct 16): Interest in small-cap stocks dominated trading on Bursa Malaysia today. Trading volume swelled to 8.71 billion — the highest level since Sept 2 when the volume was at 8.45 billion. Total turnover was RM4.77 billion. The FBM Small Cap climbed 1.55% or 206.93 points at a one-month high of 13,556.63 points while The FBM ACE Index went up 0.88% or 96.03 to 10.971.88 points. In contrast, the FBM KLCI dropped 0.67% or 10.11 points at 1,503.84 points today, reflecting the lacklustre trading on blue chips. The benchmark index was dragged by Petronas Dagangan Bhd, Axiata Group Bhd and IOI Corp Bhd. Across the board, gainers outnumbered losers by 513 to 444, with 545 counters unchanged. Mah Sing Group Bhd, a property developer which will diversify to be a rubber glove maker, topped the most actively traded list today. The stock shot up 22 sen, or 30.4%, to 94.5 sen with 660.42 million shares traded. The number of shares changing hands was equivale...

   KUALA LUMPUR (Oct 15): The FBM KLCI closed 9.3 points or 0.61% lower at 1,513.95 today with Asian stock indices as the global resurgence of Covid-19 cases weighed down on investor sentiment.  Besides the resurgence of Covid-19 infections, which generates concerns about global economic growth, it was reported that downbeat comments from US Treasury Secretary Steven Mnuchin that a stimulus deal was unlikely to be made before the Nov 3 US presidential election also provided another excuse for profit-taking in global stock markets today. Across Bursa Malaysia at 5pm today, trading volume stood at 6.29 billion securities worth RM4.74 billion. There were 593 decliners and 431 gainers as investors also closely watched Malaysian political updates. "The persistent domestic political uncertainty should keep most investors sidelined pending more certainty, while healthcare related sectors such as rubber glove, vaccine and technology continue to attract strong buyin...

   KUALA LUMPUR (Oct 14): Taking a cue from the overnight declines at Wall Street, the FBM KLCI slipped 0.13% or 1.95 points to close at 1,523.25 points today. Overall market sentiment, however, was positive despite the benchmark index's fall, with 523 counters posting gains, 515 counters unchanged and 443 counters posting declines. Trading volume stood at 7.03 billion shares, up from the 5.97 billion yesterday, with a total turnover of RM6.26 billion. Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com that the performance of the local benchmark index had mirrored the overnight contraction seen on Wall Street, as a result of stalling US stimulus talks and Covid-19 vaccine trials. “The decline, however, was partly mitigated by the performance of rubber glove counters today,” Wong said, adding the higher trading volume seen could be partly attributed to investors seeking to ensure their portfolio exposure to tech and rubber glove s...

    KUALA LUMPUR (Oct 13): The FBM KLCI has rebounded in the afternoon trading session, coinciding with the news on opposition leader and PKR president Datuk Seri Anwar Ibrahim’s audience with the King.  Anwar told the media that he has informed Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah of the number of Members of Parliament (MPs) supporting the opposition leader, but Istana Negara issued a statement to state that the PKR president did not reveal the identities of the lawmakers who support him.  The palace said this in a statement issued by the Comptroller of the Royal Household, Datuk Ahmad Fadil Shamsuddin, at around 3pm.  The FBM KLCI was hovering in the negative zone throughout the morning session. However, it staged a rebound from an intraday low of 1,512.18 points at 3:30pm. The benchmark index climbed 13.62 points from the intraday low to close at 1,525.20. It gained 6.77 points or 0.45% against yesterday’s ...

  KUALA LUMPUR (Oct 12): The FBM KLCI closed down 11.92 points or 0.78% at 1,518.43 today, after the Malaysian Government announced its decision to implement the conditional movement control order (CMCO) in Selangor, Kuala Lumpur, Putrajaya and Sabah to curb the spread of the Covid-19 pandemic and as world markets took cue from lower crude oil prices. News reports, quoting Senior Minister (Security Cluster) Datuk Seri Ismail Sabri Yaakob, reported today that the government has agreed to enforce the CMCO in Selangor, Kuala Lumpur and Putrajaya from 12:01am on (Wednesday) Oct 14 to Oct 27, 2020. "The government has (also) agreed to implement the CMCO throughout Sabah effective from 12.01am on Oct 13 until Oct 26,” Bernama reported. Across Bursa Malaysia at 5pm today, 5.98 billion securities were traded for RM3.82 billion. There were 573 decliners and 498 gainers, as investors also closely watch Malaysia’s political developments after opposition leader and PKR preside...

   KUALA LUMPUR (Oct 9): The FBM KLCI finished up 10.92 points or 0.72% today at 1,530.35 on institutional buying and as Malaysia's political developments drove trading sentiment across Bursa Malaysia. Across Bursa at 5pm, 6.61 billion securities were traded for RM2.89 billion as shares of companies seen to be linked to PKR leader Datuk Seri Anwar Ibrahim topped the exchange’s actively traded stocks list.  Speaking to theedgemarkets.com today, Inter-Pacific Securities Sdn Bhd head of research Victor Wan said there was a possibility of "selective buying from institutional investors". At a glance across Bursa, top gainers included KLCI stocks Hartalega Holdings Bhd and PPB Group Bhd. The top active stock was Advance Synergy Bhd, followed by Malayan United Industries Bhd and Pan Malaysia Holdings Bhd after Anwar claimed yesterday he was granted an audience with Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah next Tuesday. "A...

  KUALA LUMPUR (Oct 8): The FBM KLCI finished up 29.87 points or 2.01% at its intraday high of 1,519.43 today after a final hour spike on bargain hunting and institutional support and as crude palm oil (CPO) prices rose with crude oil prices. Fund managers said investors are also evaluating a confluence of factors including the rising number of global Covid-19 cases and political uncertainties. Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com that the KLCI had rebounded today on bargain hunting after falling 19.91 points or 1.3% yesterday. Today, Wong said institutional investors bought blue chip stocks possibly in anticipation that these companies will report better earnings for the third quarter of 2020 on a quarter-on-quarter basis. “On the overall market sentiment, retailers (retail investors) could be concerned over the rising (number of)  Covid-19 cases and political uncertainty,” Wong said. Across Bursa Malaysia, ...

KUALA LUMPUR (Oct 7): The FBM KLCI fell 1.31% today against the backdrop of higher Covid-19 cases, new infection clusters, as well as declines in crude oil prices, despite the generally positive sentiment in the regional markets. At 5pm, the benchmark index fell 19.91 points or 1.31% to close at 1,489.56 points, marking its second consecutive day of decline. In a note, Hong Leong Investment Bank analyst Ng Jun Sheng said the major supports for the index stood at the 1,474 and 1,450 levels. “Nevertheless, a further sharp fall is likely to be cushioned by the prime minister’s assurance that there will not be another total lockdown, but [only the enforcement of] Targeted Enhanced Movement Control Order (TEMCO) in high-risk areas to prevent significant impact on Malaysia’s economic and social systems,” said Ng. Meanwhile, crude oil prices fell today, with Brent crude futures recording a 1.64% decline to US$41.95 per barrel. A total of 5.25 billion shares were traded on th...

   KUALA LUMPUR (Oct 6): A selldown among index-linked glove stocks, mounting investor concerns over a second national lockdown and political uncertainty brought the FBM KLCI down by 0.2%. At the closing bell, the local benchmark index was down 2.96 points at 1,509.47 points According to Maybank Investment Bank remisier Jeffry Aziz, the sentiment in the local market is not positive at the moment given the rise in Covid-19 cases domestically, as well as fears over a second nationwide lockdown. “Investors and traders are taking profit amongst the glove stocks as well. Importantly, the FBM KLCI is above the 1,500 support level,” he noted. Declines seen in Top Glove Corp Bhd, Hartalega Holdings Bhd and IOI Corp Bhd dragged the index down. Market breadth was also negative, with 704 counters posting declines vis-à-vis the 263 counters that registered gains and 514 counters that finished trading unchanged. Trading volume stood at 6.03 billion shares, with today’s turnov...

  KUALA LUMPUR (Oct 5): The FBM KLCI closed up 12.13 points or 0.81% at 1,512.43 today after Asian equity indices ended higher on easing concerns about US President Donald Trump’s health after he tested positive for Covid-19 although news on the rising number of global infections continue to dictate sentiment. In Malaysia, Malacca Securities Sdn Bhd head of research Loui Low told theedgemarkets.com that the KLCI and the broader market were today driven by healthcare and glove stocks, as Covid-19 cases have been increasing in the past week. “Also with people now working more from home, we are starting to see more (share) buying activity. This was seen between March and May as well,” Low said. Globally, it was reported that stocks rose on Monday as signs that Trump's health was improving eased some of the political uncertainty caused by his coronavirus infection, which sent investors rushing for safety last week. It was reported that Trump, 74, was flown to hospit...

    Top Glove Corp finished 3.92% or 33 sen higher at RM8.76, valuing the company at RM71.7 billion, while Hartalega was up 7.63% or RM1.24 at RM17.50, giving a market capitalisation of RM59.98 billion.  The broader market was however lower, with 647 counters posting declines against 330 gainers, while 458 counters closed unchanged.  Rakuten Trade Research vice president Vincent Lau said the overall performance of the market was one defined by caution, except for healthcare stocks which continued to attract interest amid rising Covid-19 cases worldwide.  “Investors are currently cautious at the moment. It is the confluence of the loan moratorium ending, fears over another lockdown and Trump’s positive Covid-19 diagnosis on futures that are weighing on investor sentiment,” Lau said.    Trading volume across the bourse stood at 5.48 billion shares, worth RM4.09 billion.  Elsewhere in Asia, the Shanghai Composite was down 0.2% or 6.31 po...

  KUALA LUMPUR (Oct 1): The FBM KLCI finished 8.05 points or 0.53% lower today at 1,496.77 while Bursa Malaysia's Palm Oil Plantation index fell by a larger quantum as investors weighed a confluence of factors including the US Customs and Border Protection's detention order on palm oil produced by FGV Holdings Bhd. Analysts and remisiers said today the confluence of factors weighing on investor sentiment includes the resurgence of global COVID-19 infections besides the end of Malaysia's loan-repayment moratorium. "While stocks should stay range bound amid virus resurgence worries, which would prop up rubber glove and healthcare related sectors, trading liquidity should dwindle with retailers continuing to consolidate their trading positions," TA Securities Holdings Bhd analysts wrote in a note today. Maybank Investment Bank Bhd remisier Jeffry Aziz told theedgemarkets.com today that the end of Malaysia's six-month loan-repayment moratoriu...