MONEY MASTER

  KUALA LUMPUR (April 30): The FBM KLCI closed 0.43% lower today in line with declines seen across regional markets amid the announcement of weak manufacturing data from China, as well as concerns over the country’s clampdown on technology companies. The benchmark index opened higher before subsequently descending into negative territory within the first hour of trading, settling 6.8 points or 0.43% lower to close at 1,601.65. Week-on-week, the index fell 0.42% from its closing of 1,608.43 last Friday. Kuala Lumpur Kepong Bhd, Hong Leong Financial Group Bhd and Hartalega Holdings Bhd were among the index-linked decliners, dropping 3.5%, 2.5% and 1.2% respectively. Meanwhile, the gainers were led by Petronas Dagangan Bhd, which rose 38 sen or 1.9% to RM20.16. Lotte Chemical Titan Holding Bhd was also among top gainers as its share price jumped 9.5% to a two-year high of RM3.23, as analysts upgraded their forecasts for the group amid rising optimism on strong earnings g...

    KUALA LUMPUR (April 28): The FBM KLCI finished 0.11% or 1.82 points higher today at 1,608.5, in line with the gains seen among other regional markets. The index’s leaders today were Kuala Lumpur Kepong Bhd (KLK), Petronas Chemicals Group Bhd (PetChem) and Genting Bhd. Specifically, KLK closed 4.59% or RM1 higher today at RM22.8 per share. Meanwhile, PetChem was 3.31% or 26 sen higher at RM8.11. Genting was 3.27% or 16 sen higher at RM5.05 per share. Conversely, index-linked rubber glove counters were the top laggards today, continuing the declines seen yesterday. Supermax Corp Bhd was down 3.77% or 23 sen at RM5.87, while Hartalega Holdings Bhd was 2.8% or 30 sen lower at RM10.40. Meanwhile, Top Glove Corp Bhd was down 1.9% or 11 sen at RM5.67 apiece. Across Bursa Malaysia, 6.49 billion shares worth RM3.78 billion were traded today. The number of gainers on the local bourse stood at 457, in contrast to 586 decliners and 438 counters that were unchanged. ...

  KUALA LUMPUR (April 27): The FBM KLCI broke a two-day gaining streak to close lower in cautious trading today in line with the trend in most regional markets. The benchmark index closed 16.79 points or 1.03% lower at 1,606.68. Areca Capital Sdn Bhd CEO Danny Wong said the generally bearish sentiment was also seen in other regional markets, as cautious investors awaited the outcome of the upcoming US Federal Reserve meeting. Wong said the KLCI's decline was also caused by profit-taking in several stocks. They included glove counters Hartalega Holdings Bhd (down 4.29% or 48 sen at RM10.70) and Supermax Corp Bhd (2.87% or 18 sen lower at RM6.10), as well as Digi.Com Bhd (down 3.22% or 14 sen at RM4.12). Gainers among KLCI constituents included Axiata Group Bhd (up 1.04% or four sen at RM3.87) and Kuala Lumpur Kepong Bhd (up 0.09% or two sen at RM21.80). On the broader market, some 7.17 billion shares worth RM5 billion were traded. Losers outnumbered gainers 686 ...

  Kossan Rubber Industries Bhd, which is not a KLCI component stock, climbed the most today among the big four glove makers. The stock shot up 8.28% or 36 sen to RM4.71 with 37.63 million shares traded.  Another glove counter that hogged the limelight is Careplus Group Bhd, which was the local bourse’s top value gainer today. Careplus finished 22.67% or 51 sen higher at RM2.76 with 170.37 million shares traded.  Digi.Com Bhd also helped to lift the benchmark index today. The telco gained 3.82% or 16 sen to RM4.35 with 2.9 million shares changing hands.   The Health Care Index, which includes rubber glove counters, outperformed the FBM KLCI today, rising by 3.1% or 101.56 points to 3,382.38. Across the board, trading volume expanded to 8.3 billion shares worth RM5.59 billion today compared with 6.55 billion shares worth RM4.98 billion last Friday (April 23).  Market breadth was positive today, with 577 counters showing gains versus the 410 that h...

  KUALA LUMPUR (April 23): The gains on glove makers failed to lift the FBM KLCI much, as market interest is mainly in the low liners and ACE Market-listed counters.  The benchmark index eked out a barely 0.7-point gain today to end the week at 1,608.43. However, The FBM ACE Index was up 1.21% or 103.64 points at 8,686.05.  The FBM KLCI was almost flat on a week-on-week basis, rising by 0.05 points from the 1,608.38 seen last Friday (April 16). Rubber glove counters Hartalega Holdings Bhd, Supermax Corp Bhd and Top Glove Corp Bhd resumed their upward momentum of late against the backdrop of the resurgence in Covid-19 cases in many parts of the world.  Hartalega went up by 2.28% or 24 sen at RM10.78, while Supermax gained 3.12% or 18 sen to RM5.95. Top Glove, which has decided to downsize its initial public offer in Hong Kong, closed 1.96% or 11 sen higher at RM5.73. Conversely, the laggards on the index were CIMB Group Holdings Bhd, RHB Bank Bhd and H...

  KUALA LUMPUR (April 16): The FBM KLCI closed up marginally today, mirroring the uptrend in regional bourses, lifted mainly by persistent buying support for glove makers. At 5pm, the benchmark index edged up 0.01% or 13 points higher at 1,608.38 points, after moving between 1,600.30 points and 1,609.76 points. The market breadth was mixed with 516 gainers versus 501 losers, while 484 counters remained unchanged. Across Bursa Malaysia, trading volume stood at 6.57 billion securities worth RM4.42 billion. Index-linked glove maker Supermax Corp Bhd closed up 21 sen or 4.12% to RM5.31, its highest since Feb 23 when it recorded a closing price of RM5.45. Similarly, Top Glove Corp Bhd and Hartalega Holdings Bhd also rose to nearly two-month highs. Top Glove shares  added 13 sen or 2.39% to close at RM5.57, while Hartalega shares gained 12 sen or 1.2% to close at RM10.12. The three counters are also members of Bursa's Healthcare index, which rose 24.18 points or...

  KUALA LUMPUR (April 21): The resurgence of Covid-19 cases dampened investment globally, including Bursa Malaysia, amid mounting concerns that any fresh wave of infections will derail the economic recovery. Late heavy selling pulled the KLCI down by 10.99 points, or 0.68%, to close at its intraday low of 1,596.58. Twenty-three out of the 30 KLCI-linked counters were in the red, while five went up and two were unchanged. Notable losers among the heavyweights counters were Kuala Lumpur Kepong Bhd (KLK) and Petronas Dagangan Bhd (PetDag). Meanwhile, glove makers bucked the market downtrend as index-linked Hartalega Holdings Bhd, Supermax Corp Bhd and Top Glove Corp Bhd were the biggest winners today, along with Press Metal Aluminium Holdings Bhd and MISC Bhd among the component stocks. Across the board, there were 552 losers versus 508 gainers, while 443 counters were unchanged. Trading volume stood at 8.68 billion securities worth RM4.3 billion. MID...

  KUALA LUMPUR (April 20): The FBM KLCI closed up at the day's high of 1,607.57 despite market sentiments remaining jittery against the backdrop of mixed regional markets after Wall Street retreated overnight. The benchmark index dropped to its intraday low of 1,591.83 an hour after it opened 0.14 points higher this morning. However, the index managed to reverse its earlier losses and finish the day 7.28 points or 0.45% higher than yesterday’s close of 1,600.29. Among the 30 component stocks, Axiata Group Bhd led the pack with a 21 sen or 5.54% advance to close at RM4. Meanwhile, both Genting Bhd and Genting Malaysia Bhd (GenM) closed higher today and erased yesterday’s losses altogether. Genting added 17 sen or 3.57% to RM4.93, while GenM closed up nine sen or 3.17% at RM2.93. Despite the gains in the local bourse, Rakuten Trade head of equity sales Vincent Lau opined that the brisk trading was mainly contributed by the penny stocks — which are often prone to s...

  KUALA LUMPUR (April 19): The FBM KLCI bucked the regional uptrend to close 0.5% lower, as the daily number of new Covid-19 cases stays above 2,000 for the fifth consecutive day since last Thursday.  At the closing bell, the benchmark index fell 8.09 points to 1,600.29. It was hovering between 1,596.05 and 1,608.62 — compared to last Friday’s close of 1,608.38. The selling across the board was reflected in the market breadth, which was negative with 740 losers versus 396 gainers, while 380 counters remained unchanged. Across Bursa Malaysia, trading volume stood at 7.47 billion securities worth RM4.14 billion. Twenty-five of the 29 indices closed lower on Bursa today, except for the Transportation and Logistics, Technology, FTSE Asean 40 and FBM Fledgling indices. The worst hit was the Construction Index, down 1.94% to 184.3 points, followed by the Property Index, which fell 1.54% to 749.11, and the Energy Index, which lost 1.44% at 909.36. Among notable ...

  KUALA LUMPUR (April 16): The FBM KLCI closed up marginally today, mirroring the uptrend in regional bourses, lifted mainly by persistent buying support for glove makers. At 5pm, the benchmark index edged up 0.01% or 13 points higher at 1,608.38 points, after moving between 1,600.30 points and 1,609.76 points. The market breadth was mixed with 516 gainers versus 501 losers, while 484 counters remained unchanged. Across Bursa Malaysia, trading volume stood at 6.57 billion securities worth RM4.42 billion. Index-linked glove maker Supermax Corp Bhd closed up 21 sen or 4.12% to RM5.31, its highest since Feb 23 when it recorded a closing price of RM5.45. Similarly, Top Glove Corp Bhd and Hartalega Holdings Bhd also rose to nearly two-month highs. Top Glove shares  added 13 sen or 2.39% to close at RM5.57, while Hartalega shares gained 12 sen or 1.2% to close at RM10.12. The three counters are also members of Bursa's Healthcare index, which rose 24.18 points or...

KUALA LUMPUR (April 15): The FBM KLCI finished up 0.62% today despite pervasive negative sentiment, while the Healthcare Index continued to rise, as growing cases of Covid-19 globally fuelled buying of stocks in glove manufacturers. At 5pm, the benchmark index closed at its day’s high of 1,608.25 points, up by 9.97 points from yesterday's closing of 1,598.78 points. The market breadth, however, was negative with losers 801 losers versus 323 gainers, while 427 counters remained unchanged.  Across Bursa Malaysia, trading volume stood at 6.49 billion securities, compared with 5.91 billion shares traded yesterday. Meanwhile, trading value increased by 58% to RM4.71 billion versus RM2.99 billion. KLCI constituents Supermax Corp Bhd, Top Glove Corp Bhd and Hartalega Holdings Bhd were among Bursa’s top gainers by value today. The three counters are also members of Bursa's Healthcare index, which rose the most in percentage terms among bourse gauges, settling up 101.77 ...

  KUALA LUMPUR (April 14): The FBM KLCI reversed earlier losses to close marginally higher today on late buying support in selected index-linked counters.   The benchmark index however ended below the 1,600 mark at 1,598.28, for a 0.57-point or 0.04% gain, after moving berween 1,592.87 and 1,601.37. Heavyweight counters that helped pushed the KLCI higher included Supermax Corp Bhd, Hap Seng Consolidated Bhd, Dialog Group Bhd, Top Glove Corp Bhd and IOI Corp Bhd. Malacca Securities Sdn Bhd senior analyst Kenneth Leong attributed the last-minute buying to bargain hunting. He said Bursa Malaysia's Energy and Healthcare indices saw bigger rises, with the Energy Index up 1.34% to 925.87 and the Healthcare Index up 1.26% to 3,045.17. Energy stocks rose as oil prices continued to trend higher, Leong told theedgemarkets. Brent crude futures rose 85 cents, or 1.3%, to US$64.52 a barrel by 0619 GMT, after gaining 39 cents on Tuesday, after industry data showed US invent...

  KUALA LUMPUR (April 13): The FBM KLCI today fell 10.71 points or 0.67% today, no thanks to the stubbornly high daily new Covid-19 cases in the country.  The benchmark index closed at 1,597.71 points after it had been at above 1,600 level for four trading days.  Malacca Securities Sdn Bhd senior analyst Kenneth Leong told The Edge today that the weak sentiment was across the board, given that more than about two-thirds of the stocks listed on Bursa Malaysia closed lower today. “We have been seeing cases still staying above 1,000 new cases over the past two weeks [since it fell to three-digit cases],” said Leong, adding that there are concerns that the government’s decision to extend the CMCO (conditional movement control order) and RMCO (recovery movement control order) could derail a smoother economic recovery. On the scoreboard, there were 740 losers versus 328 gainers, while 452 counters remained unchanged. Trading volume stood at 6.35 billion s...

  KUALA LUMPUR (April 12): The FBM KLCI today closed 3.83 points or 0.24% lower, snapping three consecutive days of gains, due to profit taking in telecommunications stocks, namely Axiata Group Bhd and Digi.Com Bhd. At 5pm, the local benchmark index closed at 1,608.42 points. Today, the FBM KLCI traded between 1,603.32 and 1,613.96 points. Rakuten Trade Sdn Bhd head of research Kenny Yee told theedgemarkets.com that apart from the profit taking in telecom stocks, the lower performance of the FBM KLCI Index was in line with the weak regional market, which in turn is mirroring the poorer performance of US futures. “The market’s undertone is still weak and most of the buying is very short term,” said Yee, adding that there is a lack of interest from foreign funds. Today, Bursa Malaysia saw 5.83 billion shares worth RM3.35 billion traded. There were 411 gainers and 667 losers, while 412 counters remained unchanged. Among the blue chips, telcos were the biggest losers, led...

KUALA LUMPUR (April 9): The FBM KLCI closed 9.85 points or 0.61% higher, making today the third consecutive day of gains, boosted by a rise in telecommunications counters following the Celcom-Digi merger news yesterday. At 5pm, the local benchmark index closed at 1,612.25 points. Today, the index only traded in positive territory, ranging between 1,605.27 and 1,615.49 points. TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com today the merger talks between Axiata Group Bhd’s Celcom Axiata Bhd and Digi.Com Bhd had sent the two counters soaring, which in turn sent the benchmark index up. Yesterday, news broke that local firm Axiata and Norway's Telenor ASA will be combining their mobile operations in Malaysia. Following the surge of rubber glove counters yesterday, Soo views the pullback today as “healthy”. Going forward, however, Soo noted that with the recent increase in daily new Covid-19 cases, there could be a shift of focus...

  KUALA LUMPUR (April 8): The FBM KLCI closed higher on gains in rubber glove counters and amid expectations of improved corporate earnings. The benchmark index finished 0.11% or 1.81 points hgher at 1,602.40. Areca Capital chief executive officer (CEO) Danny Wong said many investors are looking forward to a recovery in corporate earnings. “There are expectations for the second quarter through the fourth quarter of the year that there will be a year-on-year (y-o-y) increase in earnings,” he said. Glove stocks including Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd, Comfort Gloves Bhd and Kossan Rubber Industries Bhd were among the day's top gainers. The day's top active stocks included LKL International Bhd, Luster Industries Bhd and AT Systematization Bhd. Top losers included consumer and financial services stocks Nestle (Malaysia) Bhd and Fraser & Neave Holdings Bhd (F&N), as well as Hong Leong Financial Group Bhd (HLFG). Total...

  KUALA LUMPUR (April 7): The FBM KLCI snapped its two-day losing streak on fresh buying interest today, closing at the day’s high on the back of a massive push in the final hour of trade. The benchmark index closed up 1.37% or 21.68 points at 1,600.59 after moving within the positive range of between 1,580.9 and 1,600.59. Remisier Jeffry Azizi Jaafar said the market saw a technical rebound with late buying bringing the KLCI back above the 1,600 level. “The last-minute buying interest was underpinned by Malayan Banking Group Bhd on bargain hunting and Sime Darby Plantation as investors bet on rising palm oil prices due to tight supply,”  he told theedgemarkets.com He said the market optimism was also fuelled by higher oil prices against the backdrop of the world's two largest economies, the US and China, on recovery paths.   Jeffry noted that steel and aluminium manufacturers such as Press Metal Aluminium Holdings Bhd and Ann Joo Resources Bhd have hogged th...

  KUALA LUMPUR (April 6): The FBM KLCI extended its losses for the second day running, in line with the lower close in some Asian markets despite the overnight rally on Wall Street. The benchmark index closed 5.33 points or 0.34% lower at 1,578.91, after an intraday low of 1,575.18. Areca Capital Sdn Bhd CEO Danny Wong Teck Meng said the KLCI was weighed down by losses in selected plantation and telco counters, while the overall market sentiment remained tepid amid a lack of fresh catalysts. Sime Darby Plantation Bhd, which closed 3.85% or 18 sen down at RM4.49, was a major contributor to the benchmark index's decline, along with fellow oil palm stocks IOI Corp Bhd and Kuala Lumpur Kepong Bhd. Sri Lanka yesterday banned imports of palm oil and new palm plantations and told producers to uproot existing plantations in a phased manner, in a surprise move that baffled the edible oil industry, according to news reports. The island nation imports around 200,000 tonnes of pa...

    KUALA LUMPUR (April 5): The FBM KLCI finished lower today after failing to sustain the upward momentum seen in the first hour of trading, due mainly to selling pressure in rubber glove heavyweights. The benchmark index closed 1.11 points or 0.07% down at 1,584.24. Glove maker Supermax Corp Bhd closed 3.04% or 12 sen lower at RM3.83, Top Glove lost seven sen or 1.47% to RM4.68, and Hartalega Holdings Bhd fell three sen or 0.33% to RM8.95. Other blue chips that closed lower included Dialog Group Bhd, CIMB Group Holdings Bhd, Kuala Lumpur Kepong Bhd and Public Bank Bhd. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the KLCI struggled to keep its earlier gains as it was dragged down by the selling activities in glove heavyweights. “Nonetheless, the broader market was slightly positive with the construction sector being the biggest winner on the news that the Cabinet has approved the Mass Rapid Transit Line 3 (MRT3) project,” he told theedgemarkets...

  KUALA LUMPUR (April 2): The FBM KLCI closed 2.17 points or 0.17% higher today on bargain hunting, tracking gains seen on regional bourses. At 5pm, the FBM KLCI ended the session at 1,585.35, compared to yesterday’s closing of 1,582.64. Heavyweights that powered the FBM KLCI included Top Glove Corp Bhd, CIMB Group Holdings Bhd, Axiata Group Bhd and Telekom Malaysia Bhd. On the broader market, gainers triumphed over losers by 624 to 408, while 438 counters were unchanged. Trading volume stood at 6.62 billion shares, valued at RM2.92 billion. Small market capitalisation (small cap) stocks also rose by a larger quantum amid a rotational play from big caps to smaller entities across Bursa Malaysia. Commenting on today’s KLCI performance, Rakuten Trade Research head of equity sales Vincent Lau reckoned that investors’ bargain-hunting activities continued as the benchmark index is still trading below the 1,600 level. “The sentiment was also buoyed by the oil price increase...

  KUALA LUMPUR (April 1): The FBM KLCI settled up 0.58% today, tracking gains in China and Hong Kong and supported by bargain hunting activities after yesterday’s sell-off. At 5pm, the benchmark index rose 9.13 points to settle at 1,582.64 points, with gains led by Supermax Corp Bhd, Genting Bhd and Top Glove Corp Bhd. Across Bursa Malaysia, 787 counters were gainers against 354 decliners while 402 counters traded unchanged. By sector, the biggest gainers were property (2.3%), technology (2.29%) and construction (1.69%). Areca Capital CEO Danny Wong Teck Meng suggested that partial rebound may be prompted by overnight gains in Nasdaq, coupled with the positive manufacturing data from China for March. “Investors may also revisit Bank Negara Malaysia’s positive outlook on Malaysia’s economy which took the back seat when it was first announced on Monday due to the weak regional market sentiment at the time,” Wong said. It was reported that China’s March manufacturing d...