Market Daily Report: Late buying pushes Bursa Malaysia to close at day's high

 

KUALA LUMPUR (Sept 29): Bursa Malaysia finished at its intra-day high for the second consecutive day on Wednesday, lifted by late buying in selected financial services as well as industrial products and services counters amid concerns over the local and global economic outlook, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.83 of-a-point or 0.05% to 1,547.65 from Tuesday’s close of 1,546.82. 

The index, which opened 4.86 points lower at 1,541.96, moved as low as 1,528.69 during the day.

Meanwhile, market breadth was negative with decliners surpassing gainers 581 to 398, while 455 counters were unchanged, 870 untraded and 85 others suspended.

Turnover declined to 3.67 billion units worth RM2.71 billion from Tuesday’s 5.45 billion units worth RM3.29 million.

A dealer said investors’ sentiment turned cautious on Wednesday over the World Bank’s move to revise Malaysia’s 2021 economic growth projection downwards to 3.3% from the 4.5% forecast in June.

In a statement on Tuesday, the World Bank said the ongoing Movement Control Orders, increased precautionary behaviour and subdued labour market conditions were expected to weigh down further on private consumption and overall economic growth, especially for service-related sectors which had been heavily impacted by movement restrictions.

Regionally, another dealer said, most of the Asian markets were weaker on Wednesday as investors grew cautious over the United States’ debt limit expiry and the likelihood of China’s Evergrande defaulting on bond interest payments due on Wednesday.

Back home, CIMB Group Holdings Bhd and Petronas Chemicals Group Bhd were the top two contributors towards the benchmark index with a total of 2.24 points, as both stocks rose by seven sen each to RM4.81 and RM8.72, respectively.

Among other heavyweights, Malayan Banking Bhd and IHH Healthcare Bhd were flat at RM8.10 and RM6.70, respectively, Tenaga Nasional Bhd added seven sen to RM9.75, Hong Leong Bank Bhd rose six sen to RM18.78, and Public Bank Bhd slipped a sen to RM4.10.

Of the actives, Dagang NeXchange Bhd and KNM Group Bhd trimmed two sen each to 78.5 sen and 23 sen, respectively, while newly-listed CEKD Bhd jumped 6.5 sen from its offer price to 54.5 sen and Pegasus Heights Bhd was flat at one sen.

On the index board, the FBM Emas Index gained 13.19 points to 11,345.02, the FBMT 100 Index was 10.84 points better at 11,039.83, and the FBM Emas Shariah Index perked 19.07 points to 12,394.35. 

The FBM 70 advanced 33.68 points to 14,925.86 while the FBM ACE fell 21.01 points to 7,165.07.

Sector-wise, the Industrial Products and Services Index increased 0.98 of-a-point to 205.07, the Plantation Index went up 12.76 points to 6,348.32, and the Financial Services Index rose 28.84 points to 15,259.87. 

The Main Market volume decreased to 2.5 billion shares worth RM2.35 billion from Tuesday’s 3.44 billion shares worth RM2.86 billion. 

Warrants turnover grew to 419.08 million units valued at RM69.34 million versus 356.79 million units worth RM56.92 million yesterday. 

The volume on the ACE Market shrank to 746.93 million shares worth RM286.96 million from 1.65 billion shares worth RM373.08 million on Tuesday.    

Consumer products and services counters accounted for 386.66 million shares traded on the Main Market, industrial products and services (771.52 million), construction (63.35 million), technology (315.19 million), SPAC (nil), financial services (41.64 million), property (294.8 million), plantation (17.29 million), REITs (6.22 million), closed/fund (16,100), energy (259.15 million), healthcare (79.15 million), telecommunications and media (78.76 million), transportation and logistics (166.91 million) and utilities (17.34 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends at intraday high on continuous buying support

 

KUALA LUMPUR (Sept 28): Continuous buying in selected industrial products and services as well as healthcare counters lifted Bursa Malaysia to close at its intraday high on Tuesday, with more investors becoming more confident over the bullish domestic economic outlook, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 13.77 points or 0.9% to 1,546.82, from Monday’s close of 1,533.05. 

The index, which opened 0.46 of-a-point higher at 1,533.51, moved to as low as 1,526.28 during the day.

However, market breadth was negative with decliners surpassing gainers 594 to 463, while 409 counters were unchanged, 837 untraded and 24 others suspended.

Turnover advanced to 5.45 billion units worth RM3.29 billion from Monday’s 4.38 billion units worth RM2.98 billion.

A dealer said the 12th Malaysia Plan (12MP) 2021-2025 tabled by Prime Minister Datuk Seri Ismail Sabri Yaakob in the Parliament on Monday seemed to have provided some boost to investors’ sentiments on the local market.

“As the 12MP aims to revive the country’s pandemic-hit economy, huge development expenditure was allocated and we reckon this should be positive for the construction sector as the sector provides the highest multiplier effect on the economy,” he said.

Meanwhile, ActivTrades trader Anderson Alves said Asian equities steadied on Tuesday after a mixed performance on Wall Street, where the US Treasury yields had climbed as the US Federal Reserve’s (US Fed) rhetoric reinforced the view that the time for the bond tapering process is close.

“Markets will be waiting for further comments from the US Fed chair Jerome Powell and policymakers.

“Evergrande's theme also continues to dominate sentiment, with the People's Bank of China saying it would ensure a healthy property market and protect home buyers' rights,” he said in a research note on Tuesday.

Back home, Petronas Chemicals Group Bhd and Hartalega Holdings Bhd were the top two contributors towards the benchmark index with a total of 8.76 points, as the counters rose by 39 sen and 53 sen to RM8.65 and RM6.06, respectively.

Among other heavyweights, Malayan Banking Bhd was flat at RM8.10, Public Bank Bhd added three sen to RM4.11, IHH Healthcare Bhd went up two sen to RM6.70, Tenaga Nasional Bhd improved five sen to RM9.90 and CIMB Group Holdings Bhd rose four sen to RM4.74.

Of the actives, Fintec Global Bhd and Pegasus Heights Bhd eased half-a-sen each to 1.5 sen and one sen, respectively, while KNM Group Bhd earned half-a-sen to 25 sen and Kanger International Bhd was flat at five sen.

On the index board, the FBM Emas Index gained 56.64 points to 11,331.83, the FBMT 100 Index was 59.55 points better at 11,028.99, while the FBM Emas Shariah Index perked up 88.64 points to 12,375.28. 

The FBM 70 shed 70.72 points to 14,892.18, while the FBM ACE slipped 59.58 points to 7,186.08.

Sector-wise, the Industrial Products and Services Index gained 2.83 points to 204.09 and the Plantation Index went up 11.91 points to 6,335.56, while the Financial Services Index eased 0.46 of-a-point to 15,231.03.

The Main Market volume increased to 3.44 billion shares worth RM2.86 billion from Monday’s 2.74 billion shares worth RM2.46 billion. 

Warrants turnover went up to 356.79 million units valued at RM56.92 million versus 339.78 million units worth RM54.45 million yesterday. 

The volume on the ACE Market rose to 1.65 billion units worth RM373.08 million from 1.3 billion units worth RM461.82 million on Monday.    

Consumer products and services counters accounted for 498.49 million shares traded on the Main Market, industrial products and services (999.7 million), construction (87.39 million), technology (409.22 million), SPAC (nil), financial services (51.71 million), property (556.61 million), plantation (16.99 million), REITs (6.72 million), closed/fund (112,500), energy (616.67 million), healthcare (90.54 million), telecommunications and media (32.74 million), transportation and logistics (50.1 million) and utilities (23.14 million).

 

Source: The Edge

 

Market Daily Report: Bursa Malaysia rebounds to close slightly higher

KUALA LUMPUR (Sept 27): Late buying in selected heavyweights lifted Bursa Malaysia out of negative territory to end slightly higher on Monday as investors digested the 12th Malaysia Plan (12MP) 2021-2025, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.99 of-a-point or 0.06% to 1,533.05, from Friday’s close of 1,532.06. 

The index, which opened 0.83 of-a-point higher at 1,532.89, moved in a tight range between 1,526.14 and 1,533.51 throughout the day.

Market breadth however was negative with decliners outpacing gainers 587 to 424, while 439 counters were unchanged, 863 untraded and 16 others suspended.

Turnover fell to 4.38 billion units worth RM2.98 billion from Friday’s 4.78 billion units worth RM3.34 billion.

The 12MP roadmap, tabled in parliament by Prime Minister Datuk Seri Ismail Sabri Yaakob on Monday, among others, highlighted that the government's financial position is expected to improve in 2023 with the strengthening of the economy after being hit by the Covid-19 pandemic.

The roadmap is crafted with a development expenditure allocation of RM400 billion, four catalytic policy enablers and several bold innovative actions, aiming at restoring economic growth, addressing socioeconomic challenges and enhancing national competitiveness to be a more resilient and sustainable player on the world stage.

According to the 12MP document released by the Economic Planning Unit, in the next five years, the country’s economy is expected to rebound and achieve stronger and more sustainable growth of between 4.5% and 5.5% per annum after having experienced a hiccup towards the end of the 11MP due to the health pandemic triggered by Covid-19.

Development expenditure in 11MP was RM260 billion.

Among heavyweights Public Bank Bhd and IHH Healthcare Bhd rose four sen each to RM4.08 and RM6.68, respectively, Petronas Chemicals Group Bhd advanced 15 sen to RM8.26, while Malayan Banking Bhd was flat at RM8.10 and Tenaga Nasional Bhd slipped one sen to RM9.85.

Of the actives, KNM Group Bhd went up 1.5 sen to 24.5 sen, AT Systematization Bhd earned half-a-sen to six sen while Borneo Oil Bhd and Dagang NeXchange Bhd were flat at three sen and 81 sen respectively.

On the index board, the FBM Emas Index declined 0.82 of-a-point to 11,275.19, the FBMT 100 Index was 4.08 points easier at 10,969.44, while the FBM Emas Shariah Index reduced 17.39 points to 12,286.64. 

The FBM 70 shed 48.89 points to 14,962.90, while the FBM ACE jumped 83.44 points to 7,245.66.    

Sector wise, the Industrial Products and Services Index gained 0.7 of-a-point to 201.26, the Plantation Index went down 28 points to 6,323.65, and the Financial Services Index gained 38.05 points to 15,231.49. 

The Main Market volume decreased to 2.74 billion shares worth RM2.46 billion from Friday’s 3.23 billion shares worth RM2.85 billion. 

Warrants turnover went down to 339.78 million units valued at RM54.45 million versus 390.75 million units worth RM75.28 million previously. 

The volume on the ACE Market rose to 1.3 billion units worth RM461.82 million from 1.15 billion units worth RM403.39 million on Friday.    

Consumer products and services counters accounted for 433.26 million shares traded on the Main Market, industrial products and services (1.06 billion), construction (129.07 million), technology (341.81 million), SPAC (nil), financial services (57.57 million), property (171.46 million), plantation (15 million), REITs (10.08 million), closed/fund (93,300), energy (337.37 million), healthcare (63.41 million), telecommunications and media (30.74 million), transportation and logistics (70.89 million) and utilities (19.97 million).

 

Source: The Edge

Market Daily Report: FBM KLCI ends lower, in line with regional bourses amid Evergrande uncertainty

 

KUALA LUMPUR (Sept 24): Bursa Malaysia ended the week lower on lack of buying momentum. 

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.28 points, or 0.47%, to 1,532.06, from Thursday’s close of 1,539.34. 

The index, which opened 3.06 points higher at 1,542.4, moved between 1,525.64 and 1,543.35 throughout the day.

Market breadth was negative with decliners outpacing gainers 576 to 418, while 466 counters were unchanged, 852 untraded, and 15 others suspended.

Turnover rose slightly to 4.78 billion units worth RM3.34 billion from Thursday’s 4.74 billion units worth RM3.54 billion.

The weaker performance of the local bourse was also in line with most key regional markets amid the uncertainty surrounding the fate of debt-ridden China property developer Evergrande group.

“We believe investors remained cautious after the global market sell-off earlier this week,” Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama. 

Regionally, Japan’s Nikkei 225 advanced 2.06% to 30,248.81, Hong Kong’s Hang Seng Index slid 1.3% to 24,192.16 and Singapore’s Straits Times Index shed 0.41% to 3,061.56.

Back home, Bursa Malaysia heavyweights Petronas Chemicals Group Bhd advanced three sen to RM8.11, IHH Healthcare Bhd and Hong Leong Bank Bhd were flat at RM6.64 and RM18.64 while Malayan Banking Bhd fell five sen to RM8.10.

Public Bank Bhd eased two sen to RM4.04 and Tenaga Nasional Bhd shed 13 sen to RM9.86.

Of the actives, Kejuruteraan Asastera Bhd gained 1.5 sen to 41 sen, Tanco Holdings Bhd increased 1.5 sen to 26 sen, Fintec Global Bhd was flat at two sen, Pasukhas Group Bhd inched down half-a-sen to six sen, and Dagang NeXchange Bhd eased two sen to 81 sen.

On the index board, the FBM Emas Index declined 28.82 points to 11,276.01, the FBMT 100 Index was 31.01 points easier at 10,973.52, while the FBM Emas Shariah Index reduced 9.5 points to 12,304.03.

The FBM 70 bagged 39.69 points to 15,011.79, while the FBM ACE added 40.68 points to 7,162.22.

Sector-wise, the Industrial Products and Services Index gained 0.71 of-a-point to 200.56, the Plantation Index went down 51.28 points to 6,295.65, and the Financial Services Index lost 77.92 points to 15,193.44.

The Main Market volume increased to 3.23 billion shares worth RM2.85 billion from Thursday’s 3.16 billion shares worth RM3.07 billion. 

Warrants turnover went up to 390.75 million units, valued at RM75.28 million, versus 384.26 million units worth RM61.70 million yesterday. 

The volume on the ACE Market eased to 1.15 billion units worth RM403.39 million from 1.18 billion units worth RM405.22 million on Thursday.    

Consumer products and services counters accounted for 527.87 million shares traded on the Main Market, industrial products and services (1.33 billion), construction (91.43 million), technology (468.38 million), SPAC (nil), financial services (49.66 million), property (214.08 million), plantation (19.56 million), REITs (7.57 million), closed/fund (54,000), energy (306.82 million), healthcare (77.6 million), telecommunications and media (35.45 million), transportation and logistics (75.12 million) and utilities (23.74 million).

 

Source: The Edge

Market Daily Report: FBM KLCI broadly higher on bargain-hunting activities

 

KUALA LUMPUR (Sept 23): Bursa Malaysia’s key index ended broadly higher as investors took the opportunity to hunt for bargains today, said an analyst. 

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 10.32 points, or 0.67%, to 1,539.34, from Wednesday’s close of 1,529.02.   

The index, which opened 3.31 points higher at 1,532.33, moved between 1,531.18 and 1,539.73 throughout the day.

Market breadth was positive with gainers outpacing decliners 625 to 419, while 423 counters were unchanged, 835 untraded, and five others suspended.

Turnover rose to 4.74 billion units worth RM3.54 billion from Wednesday’s 4.12 billion units worth RM3.16 billion.   

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng reckoned that the FBM KLCI continued to see some buying support from foreign funds.

“Nonetheless, market undertone remains cautious; hence we expect the benchmark index to remain stuck in a narrow trading range. We see the FBM KLCI hovering between the 1,540-1,550 range towards the weekend,” he told Bernama. 

Key regional markets are also in the green following positive signs overnight from Wall Street’s performance and easing concerns about the impact of Evergrande Group's debt issue.

Singapore’s Straits Times index jumped 1.12% to 3,083.71 and Hong Kong’s Hang Seng Index surged 1.19% to 24,510.98, but Japan’s Nikkei 225 Index fell 0.67% to 29,639.4.  

Among the heavyweights, Malayan Banking Bhd rose five sen to RM8.15, Public Bank Bhd gained two sen to RM4.06, Petronas Chemicals Group Bhd added three sen to RM8.08, Tenaga Nasional Bhd surged 18 sen to RM9.99, Digi.Com Bhd was flat at RM4.46, and PPB Group Bhd fell two sen to RM18.30.  

Of the actives, Dagang NeXchange Bhd jumped six sen to 83 sen, Bintai Kinden Corp Bhd advanced 3.5 sen to 68.5 sen, Serba Dinamik Holdings Bhd edged up half-a-sen to 34 sen, KNM Group Bhd was flat at 23 sen, and TFP Solutions Bhd eased 3.5 sen to 12.5 sen. 

On the index board, the FBM Emas Index advanced 71.72 points to 11,304.83, the FBMT 100 Index was 67.07 points higher at 11,004.53, and the FBM Emas Shariah Index chalked up 69.86 points to 12,313.53.

The FBM 70 surged 65.17 points to 14,972.1 while the FBM ACE gained 13.99 points to 7,121.54.   

Sector wise, the Plantation Index went up 72.21 points to 6,346.93, the Industrial Products and Services Index gained 1.63 points to 199.85, and the Financial Services Index picked up 117.5 points to 15,271.36.

The Main Market volume increased to 3.16 billion shares worth RM3.07 billion from 2.61 billion shares worth RM2.72 billion on Wednesday.

Warrants turnover rose to 384.26 million units, valued at RM61.7 million, against 222.76 million units valued at RM25.46 million yesterday.

Volume on the ACE Market eased to 1.18 billion units worth RM405.22 million from Wednesday’s 1.26 billion units worth RM416.51 million.

Consumer products and services counters accounted for 572.04 million shares traded on the Main Market, industrial products and services (1.05 billion), construction (119.17 million), technology (593.34 million), SPAC (nil), financial services (46.26 million), property (130 million), plantation (37.94 million), REITs (8.88 million), closed/fund (109,400), energy (367.46 million), healthcare (89.57 million), telecommunications and media (50.57 million), transportation and logistics (70.46 million) and utilities (20.85 million).

 

Source: The Edge

Market Daily Report: FBM KLCI dips 0.09% as investors remain cautious over Evergrande, US Fed decision

 

KUALA LUMPUR (Sept 22): Bursa Malaysia’s key index ended easier in lacklustre trade due to weak market sentiment and a lack of buying catalyst as concerns persisted over Chinese property group Evergrande Group’s debt and its impact on global markets.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.42 points, or 0.09%, to 1,529.02, from Tuesday’s close of 1,530.44.  

The index, which opened 5.81 points weaker at 1,524.63, moved between 1,520.71 and 1,529.79 throughout the day.

However, market breadth was positive with gainers outpacing decliners 584 to 382, while 436 counters were unchanged, 870 untraded, and five others suspended.

Turnover fell to 4.12 billion units worth RM3.16 billion from Tuesday’s 4.72 billion units worth RM2.86 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said investors were also cautious that the US Federal Reserve, which meets on Tuesday and Wednesday, would be confirming its plans to cut back support for the US economy this year.

“The FBM KLCI seems to be quite well supported at the 1,520 level, hence we reckon accumulation of stocks to persist on dips. For the week, we anticipate the index to remain sideways with immediate support at 1,520 while resistance at 1,550,” he told Bernama. 

Among the heavyweights, Malayan Banking Bhd advanced five sen to RM8.10, Public Bank Bhd added one sen to RM4.04, Petronas Chemicals Group Bhd increased nine sen to RM8.05, Tenaga Nasional Bhd declined one sen to RM9.81 and Hong Leong Bank Bhd shed 14 sen to RM18.46. 

Of the actives, Bintai Kinden Corp Bhd appreciated eight sen to 65 sen, Binasat Communications Bhd was 7.5 sen higher at 43 sen, Opcom Holdings Bhd soared 29.5 sen to RM1.11, Fintec Global Bhd was flat at two sen, Pasukhas Group Bhd shed one sen to 6.5 sen and KNM Group Bhd eased two sen to 23 sen. 

On the index board, the FBM Emas Index advanced 10.71 points to 11,222.11, the FBMT 100 Index was 5.68 points higher at 10,937.46, and the FBM Emas Shariah Index chalked up 45.79 points to 12,243.67.

The FBM 70 added 69.43 points to 14,906.93, while FBM ACE gained 111.93 points to 7,107.55.  

Sector wise, the Plantation Index went down 10.1 points to 6,274.72, the Industrial Products and Services Index added 1.74 points to 198.22, and the Financial Services Index trimmed 100.34 points to 15,153.86.

The Main Market volume decreased to 2.61 billion shares worth RM2.72 billion from Tuesday’s 2.95 billion shares worth RM2.54 billion.

Warrants turnover fell to 222.76 million units valued at RM25.46 million from 323.43 million units valued at RM58.31 million yesterday. 

Volume on the ACE Market went down to 1.26 billion units worth RM416.51 million from 1.42 billion units worth RM264.18 million.       

Consumer products and services counters accounted for 360.29 million shares traded on the Main Market, industrial products and services (873.52 million), construction (89.24 million), technology (379.74 million), SPAC (nil), financial services (42.47 million), property (205.74 million), plantation (22.81 million), REITs (19.07 million), closed/fund (5,000), energy (331.59 million), healthcare (96.74 million), telecommunications and media (78.93 million), transportation and logistics (89.74 million) and utilities (16.85 million).

 

Source: The Edge

Market Daily Report: FBM KLCI climbs 0.17% at the close

 

KUALA LUMPUR (Sept 21): Bursa Malaysia’s key index ended slightly higher as bargain-hunting activities emerged after seven straight days of losses, lifted mainly by telco, gaming, and banking stocks.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.55 points, or 0.17%, to 1,530.44, from Monday’s close of 1,527.89. 

The index, which opened 3.18 points weaker at 1,524.71, moved between 1,521.44 and 1,533.11 throughout the day.

However, market breadth was negative with decliners outnumbering gainers 538 to 436, while 468 counters were unchanged, 830 untraded, and five others suspended.

Turnover rose to 4.72 billion units worth RM2.86 billion from Monday’s 4.69 billion units worth RM2.9 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said that comparatively, regional markets ended mixed as investors remained cautious due to China property company Evergrande’s debt crisis.

“Moreover, uncertainty over the United States’ Covid-19 stimulus also weighs on the market sentiment.

“We reckon trading on the local bourse to be tepid amid the heightened market volatility, hence we expect the index to trend within the 1,520-1,550 range for the remainder of the week,” he told Bernama. 

Among the heavyweights, Malayan Banking Bhd appreciated three sen to RM8.33, Axiata Group Bhd surged 15 sen to RM4.10, Genting Malaysia Bhd gained four sen to RM3.05, Public Bank Bhd and Petronas Chemicals Group Bhd added one sen each to RM4.03 and RM7.96, respectively, while IHH Healthcare Bhd eased five sen to RM6.60, CIMB Group Holdings Bhd fell two sen to RM4.78 and Press Metal Aluminium Holdings Bhd eased six sen to RM5.59. 

Of the actives, Serba Dinamik Holdings Bhd bagged five sen to 36.5 sen, Dagang NeXchange Bhd edged up half-a-sen to 76.5 sen, KNM Group Bhd was flat at 25 sen, Fintec Global Bhd inched down half-a-sen to two sen and Pasukhas Group Bhd went down 1.5 sen to 7.5 sen. 

On the index board, the FBM Emas Index advanced 16.78 points to 11,222.4, the FBMT 100 Index was 20.22 points higher at 10,931.78, and the FBM Emas Shariah Index chalked up 16.44 points to 12,197.88.  

The FBM 70 rose 35.35 points to 14,837.5, while FBM ACE weakened by 10.99 points to 6,995.62. 

Sector wise, the Plantation Index went up 43.55 points to 6,284.82, the Industrial Products and Services Index eased 0.17 of-a-point to 196.48, and the Financial Services Index improved 19.8 points to 15,254.2. 

The Main Market volume decreased to 2.95 billion shares worth RM2.54 billion against 3.01 billion shares worth RM2.5 billion on Monday.  

Warrants turnover fell to 323.43 million units valued at RM58.31 million from 388.19 million units valued at RM74.47 million yesterday. 

Volume on the ACE Market went up to 1.42 billion units worth RM264.18 million from Monday’s 1.25 billion units worth RM322.16 million.       

Consumer products and services counters accounted for 468.17 million shares traded on the Main Market, industrial products and services (880.91 million), construction (107.51 million), technology (295.41 million), SPAC (nil), financial services (40.14 million), property (303.92 million), plantation (33.29 million), REITs (27.81 million), closed/fund (1,000), energy (538.47 million), healthcare (110.11 million), telecommunications and media (46.87 million), transportation and logistics (83.34 million) and utilities (16.26 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends in red, KLCI falls 1.33%

 

KUALA LUMPUR (Sept 20): Bursa Malaysia ended Monday in red for the seventh consecutive session despite foreign investors returning to the market, pushed down by the selling of selected heavyweight counters led by Sime Darby Plantation Bhd and Top Glove Corp Bhd. 

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 20.62 points or 1.33% to 1,527.89 from Friday’s close of 1,548.51. 

The index, which opened 0.89 of-a-point easier at 1,547.62, moved between 1,526.9 and 1,547.67 throughout the day.

Market breadth was negative with decliners outnumbering gainers 951 to 194, while 359 counters were unchanged, 772 untraded, and nine others suspended.

Turnover fell to 4.69 billion units worth RM2.9 billion from last Friday’s 5.13 billion units worth RM4.18 billion. 

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the performance of the local markets had been sluggish, further aggravated by news of potential windfall taxes and the waiving of interest.

“We reckon sentiments will remain dampened until more clarity surfaces. Having said that, we believe bargain hunting may emerge as the country’s economy is slowly reopening amid Covid-19 cases [having] declined to a two-month low,” he told Bernama.

As Malaysia enters the fourth quarter, Thong said the market could expect some portfolio realignments and window-dressing activities to occur.

“For the week, we anticipate the index to remain sideways with immediate support at 1,520 and resistance at 1,550,” he added. 

Among the heavyweights, Sime Darby Plantation lost 35 sen to RM3.45, Top Glove trimmed 25 sen to RM2.81, and Press Metal Aluminium Holdings Bhd fell 15 sen to RM5.65. 

Malayan Banking Bhd advanced five sen to RM8.30, Petronas Chemicals Group Bhd added one sen to RM7.95, Hong Leong Bank Bhd was flat at RM18.70, Public Bank Bhd decreased four sen to RM4.02 and IHH Healthcare Bhd slipped five sen to RM6.65.  

Among the actives, Kanger International Bhd was flat at five sen, Pasukhas Group Bhd eased 2.5 sen to nine sen, Emico Holdings Bhd dropped 12 sen to 54.5 sen, Dagang NeXchange Bhd and Yong Tai Bhd both went down four sen to 76 sen and 16 sen, respectively.  

On the index board, the FBM Emas Index narrowed 160.2 points to 11,205.62, the FBMT 100 Index was 148.3 points weaker at 10,911.56, and the FBM Emas Shariah Index lost 232.7 points to 12,181.44. 

The FBM 70 discounted 205.14 points to 14,802.15, while FBM ACE weakened by 194.61 points to 7,006.61. 

Sector wise, the Plantation Index trimmed 185.15 points to 6,241.27, the Industrial Products and Services Index went down 2.96 points to 196.65, and the Financial Services Index slid 55.4 points to 15,234.4.

The Main Market volume decreased to 3.01 billion shares worth RM2.5 billion from last Friday’s 3.38 billion shares worth RM3.8 billion. 

Warrants turnover fell to 388.19 million units valued at RM74.47 million, versus 403.95 million units valued at RM60.4 million previously.

Volume on the ACE Market went down to 1.25 billion units worth RM322.16 million from 1.26 billion shares worth RM310.23 million last Friday.      

Consumer products and services counters accounted for 639.13 million shares traded on the Main Market, industrial products and services (917.36 million), construction (100.22 million), technology (321.18 million), SPAC (nil), financial services (41.6 million), property (316.8 million), plantation (31.75 million), REITs (24.81 million), closed/fund (8,200), energy (372.76 million), healthcare (106.38 million), telecommunications and media (52.97 million), transportation and logistics (66.52 million) and utilities (21.48 million).

 

Source: The Edge

Market Daily Report: Bursa ends week in the red, dragged down by Top Glove, IOI Corp

 

 

KUALA LUMPUR (Sept 17): Bursa Malaysia ended the week in the red, dragged down by selling of selected heavyweight counters, led by Top Glove Corp Bhd and IOI Corp Bhd.

At 5pm, the benchmark FBM KLCI closed 6.75 points lower at 1,548.51 from Wednesday’s close at 1,555.26.

The index, which opened 1.09 points better at 1,556.35, moved between 1,543.08 and 1,556.74 throughout the day.

Market breadth was negative with decliners leading gainers 620 to 470, while 412 counters were unchanged, 766 untraded and 10 others suspended.

Turnover rose to 5.13 billion units worth RM4.18 billion from 4.5 billion units worth RM3.06 billion on Wednesday.

Top Glove and IOI Corp dragged the composite index down by 3.645 points after both shed 14 sen each to RM3.06 and RM3.77 respectively.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI ended lower for the sixth consecutive day mainly due to selling by local institutions.

He said the benchmark index fell by 0.43%, dragged down mainly by glove, banking and plantation stocks.

“We believe the chance of a windfall tax for glove companies is low because their average selling prices (ASPs) have been coming down very quickly, hence affecting their profit, while the market has just overreacted.

“We reckon the selling of banking stocks was overdone as the impact of the proposed interest waiver may not be that significant on banks as it will be only for the fourth quarter of 2021 (4Q21),” he told Bernama.

Among the heavyweights, Malayan Banking Bhd (Maybank) fell four sen to RM8.25, Petronas Chemicals Group Bhd (PetChem) slipped seven sen to RM7.94 and Press Metal Aluminium Holdings Bhd recovered six sen to RM5.80, while Public Bank Bhd rose five sen to RM4.06.

Among the actives, KNM Group Bhd increased half a sen to 26.5 sen, Fintec Global Bhd was flat at 2.5 sen and Dagang NeXchange Bhd (DNeX) bagged four sen to 80 sen.

Among the top decliners, Petronas Dagangan Bhd (PetDag) tumbled 76 sen to RM19.02, Nestlé (Malaysia) Bhd erased 70 sen to RM134, and SAM Engineering & Equipment (M) Bhd lost 48 sen to RM14.

On the index board, the FBM Emas Index decreased 30.03 points to 11,365.82, the FBMT 100 Index was 26.42 points easier at 11,059.86 and the FBM Emas Shariah Index contracted 63.65 points to 12,414.14.

The FBM 70 firmed up 48.92 points to 15,007.29, while FBM ACE added 5.47 points to 7,201.22.

Sector-wise, the Plantation Index trimmed 93.03 points to 6,426.42, the Industrial Products and Services Index went down 0.09 of a point to 199.61, and the Financial Services Index perked up 25.29 points to 15,289.80.

The Main Market volume increased to 3.38 billion shares worth RM3.8 billion from Wednesday’s 3.21 billion shares worth RM2.75 billion.

Warrant turnover rose to 403.95 million units valued at RM60.4 million, compared with 318.65 million units valued at RM55.52 million previously.

Volume of the ACE Market widened to 1.26 billion shares worth RM310.23 million from 921.38 million shares worth RM253.22 million on Wednesday.     

Consumer products and services counters accounted for 669.31 million shares traded on the Main Market, followed by industrial products and services (985.29 million), construction (120.73 million), technology (448.18 million), special purpose acquisition company or SPAC (nil), financial services (87.35 million), property (280.58 million), plantation (39.41 million), real estate investment trust or REIT (172.32 million), closed/fund (45,000), energy (403.28 million), healthcare (141.52 million), telecommunications and media (87.74 million), transportation and logistics (66.89 million), and utilities (30.95 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends flat

 

KUALA LUMPUR (Sept 15): Bursa Malaysia ended flat after a roller-coaster trading session, losing marginally by 0.016% with losers led by Hap Seng Consolidated Bhd, Tenaga Nasional Bhd and Nestle (Malaysia) Bhd, said Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.25 of-a-point to 1,555.26 from Tuesday's close of 1,555.51.

The index, which opened 0.65 of-a-point lower at 1,554.86, moved between 1,549.65 and 1,560.56 throughout the day.

Market breadth was negative with losers beating gainers 519 to 492, while 445 counters were unchanged, 812 untraded and six others suspended.

Turnover fell to 4.5 billion units worth RM3.06 billion from 4.66 billion units worth RM3.01 billion on Tuesday.

Thong said buying activities emerged during the last minutes of trading, causing the benchmark index to rebound and close flat.

"Meanwhile, we believe the timing of a windfall tax on glove and plantation companies may be off as many see earnings for both sectors to peak this year amid the declining selling prices going forward," he told Bernama.

He said at current valuations, this was believed to be a good opportunity for investors to bottom fish.

Thong said the FBM KLCI was expected to trend within the 1,560-1,570 range on Friday.

Bursa Malaysia and its subsidiaries will be closed tomorrow (Sept 16) in conjunction with Malaysia Day, and resume operations the following day.

At the close, 13 of the FBM KLCI’s 30 component stocks were lower, while 15 counters chalked up gains and two others were flat.

Among the heavyweights, Malayan Banking Bhd was flat at RM8.29, Public Bank Bhd added one sen to RM4.01, and Petronas Chemicals Group Bhd bagged nine sen to RM8.01.

Hap Seng and Tenaga Nasional lost 18 sen each to RM8.55 and RM10, respectively, while Nestle contracted 10 sen to RM134.70.

Of the actives, Mlabs Systems Bhd rose half-a-sen to 4.5 sen, while Metronic Global Bhd trimmed half-a-sen to 30 sen and KNM Group Bhd decreased one sen to 26 sen.

Top gainers were Genetec Technology Bhd, which firmed RM1.98 to RM35.18; Hong Leong Bank Bhd, which advanced 32 sen to RM18.78; and Tafi Industries Bhd, which bagged 25 sen RM2.94.

Among the top losers, Fraser & Neave Holdings Bhd weakened 48 sen to RM27.04, Panasonic Manufacturing Malaysia Bhd slipped 28 sen to RM30.38, and Riverview Rubber Estates Bhd dropped 27 sen to RM3.10.

On the index board, the FBM Emas Index increased 1.05 points to 11,395.85, the FBMT 100 Index was 1.52 points lower at 11,086.28, and the FBM Emas Shariah Index reduced 13.25 points to 12,477.79.

The FBM 70 fell 1.05 points to 11,395.85 while the FBM ACE perked up 56.46 points to 7,195.75.

Sector wise, the Plantation Index went up 17.06 points to 6,519.45, the Industrial Products and Services Index rose 1.76 points to 199.7, and the Financial Services Index advanced 64.69 points to 15,264.51.

The Main Market volume increased to 3.21 billion shares worth RM2.75 billion from Tuesday's 2.79 billion shares worth RM2.67 billion.

Warrants turnover fell to 318.65 million units valued at RM55.52 million compared to 430.28 million units valued at RM65.47 million previously.

Volume on the ACE Market weakened to 921.38 million shares worth RM253.22 million from 1.41 billion shares worth RM282.02 million yesterday.     

Consumer products and services accounted for 513.52 million shares traded on the Main Market, industrial products and services (1.04 billion), construction (124.46 million), technology (243.67 million), SPAC (nil), financial services (75.16 million), property (607.51 million), plantation (53.84 million), REITs (10.27 million), closed/fund (32,600), energy (329.46 million), healthcare (87.67 million), telecommunications and media (71.36 million), transportation and logistics (34.06 million) and utilities (23.97 million).

 

Source: The Edge

Market Daily Report: KLCI closes in the red as banking stocks drag, while investors gauge windfall tax concerns

 

KUALA LUMPUR (Sept 14): The FBM KLCI fell for the third straight day to close 14.62 points or 0.93% lower at 1,555.51, dragged by decline in banking stocks and as investors gauged the possibility of a windfall tax being levied on corporate Malaysia.

The benchmark index earlier was down as much as 21.24 points or 1.35% on profit-taking, before rebounding in choppy trades in the final minutes of trading.

Decliners were led by Press Metal Aluminium Holdings Bhd (down 3.96% or 23 sen to RM5.58), AMMB Holdings Bhd (down 3.69% or 12 sen to RM3.13) and Supermax Corp Bhd (down 3.3% or nine sen to RM2.64).

“The market has shot up quite a bit in recent weeks, so any rumour will be taken as an opportunity for profit-taking,” said HLIB Research head of retail research Ng Jun Sheng, when contacted.

“There could also be some portfolio adjustment this week ahead of the quadruple witching day this Friday,” Ng added.

Overall, most KLCI component stocks settled in the red today. The few gainers were led by Malaysia Airports Holdings Bhd (up 1.52% or 10 sen to RM6.70), Nestle (M) Bhd (up 0.6% or 80 sen to RM134.80), and MISC Bhd (up 4 sen or 0.58% to RM7).

Earlier this afternoon, the government issued a copy of the memorandum of understanding (MoU) on political stability and transformation that was inked with the Pakatan Harapan opposition, which confirmed it is looking into an interest-free loan moratorium through 4Q2021 for Malaysians in the bottom 50% income bracket.

The Parliament session on its second day today also underlined the second reading of the Windfall Profit Levy (Amendment) Bill 2020 by the Minister of Finance, in its Order Paper published today.

Across Bursa Malaysia, trading volume rose from the day before to 4.66 billion shares, with a turnover of RM3.01 billion.

Market breadth was negative with 715 counters in decline, as opposed to 339 counters in the green, while 425 counters traded unchanged. Among the indices, only the Bursa Malaysia Technology Index closed in the green with a 0.8% gain.

Across the local bourse, leading the decliners were Kuala Lumpur Kepong Bhd (down 42 sen or 2.02% to RM20.42), Hong Leong Bank Bhd (down 34 sen or 1.81% to RM18.46), and Aeon Credit Service (M) Bhd (down 28 sen or 2.31% to RM11.82).

Nestle led gainers, followed by D&O Green Technologies Bhd (up 40 sen or 7.77% to RM5.55) and Daibochi Bhd (up 30 sen or 12.55% to RM2.69), which its majority shareholder Scientex Bhd is planning to take private.

Elsewhere in Asia, Hong Kong's Hang Seng Index fell 1.21%, while Japan’s Nikkei 225 rose 0.73%. Also up was Singapore’s STI (by 0.22%) and the Jakarta Composite Index (by 0.67%).

Reuters reported that Asia's share markets were mixed and the US dollar held steady on Tuesday, with investors awaiting US inflation data for more clues on when the Federal Reserve will taper stimulus.

 

Source: The Edge

Market Daily Report: KLCI finishes 0.37% lower

 

KUALA LUMPUR (Sept 13): Bursa Malaysia’s key composite index finished 0.37% lower today, weighed down by selling in selected heavyweights led by Top Glove Corp Bhd.  

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.84 points to 1,570.13 from Friday’s close of 1,575.97.

It opened 2.19 points easier at 1,573.78, which was also the day’s highest, and dropped as low as 1,562.11.

In the broader market, losers surpassed gainers 669 to 362, while 444 counters were unchanged, 783 untraded and 16 others suspended.

Turnover slipped to 4.01 billion units worth RM2.4 billion from 4.4 billion units worth RM2.75 billion on Friday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said Malaysian equities ended lower due to due to weak market sentiment and lack of buying catalysts.

He said the FBM KLCI lost 0.37% with heavy selling in glove and plantation counters.

“The index has lost about 30 points since hitting a high above 1,600 at end-August and we reckon it to be under more pressure in the short term amid the heightened volatility amongst the regional markets.

“Therefore, we expect the benchmark index to consolidate further for the rest of the week with immediate support at 1,535 and resistance at 1,595,” he told Bernama.

Among the market heavyweights, Malayan Banking Bhd increased one sen to RM8.30, while Public Bank Bhd and Petronas Chemicals Group Bhd added four sen each to RM4.06 and RM7.99, respectively.

Tenaga Nasional Bhd eased two sen to RM10.28 and Top Glove shrank 15 sen to RM3.28.

Of the actives, KNM Group Bhd decreased two sen to 28 sen, while Pasukhas Group Bhd and Avillion Bhd gained half-a-sen each to 11.5 sen and 15.5 sen, respectively.

Among the losers were Sungei Bagan Rubber Company (Malaya) Bhd, which gave up 42 sen to RM3.49; Vitrox Corporation Bhd, which slipped 34 sen to RM18.90; and Kuala Lumpur Kepong Bhd, which lost 14 sen to RM20.84.

On the index board, the FBM Emas Index erased 41.45 points to 11,481.36, the FBMT 100 Index was 39.63 points lower at 11,172.69, and the FBM Emas Shariah Index dropped 44.59 points to 12,569.61.

The FBM 70 gave up 45.49 points to 14,998.62 and the FBM ACE shed 35.99 points to 7,219.11.

Sector wise, the Plantation Index dipped 23.15 points to 6,581.07, the Financial Services Index fell 16.62 points to 15,373.55, and the Industrial Products and Services Index inched down 0.26 points to 200.64.

The Main Market volume dropped to 2.41 billion shares worth RM2.05 billion from Friday’s 2.64 billion shares worth RM2.4 billion.

Warrants turnover fell to 378.5 million units valued at RM621.63 million compared to 379.11 million units valued at RM57.44 million previously.

Volume on the ACE Market contracted to 1.17 billion shares worth RM289.66 million from 1.32 billion shares worth RM286.8 million on Friday.     

Consumer products and services accounted for 520.27 million shares traded on the Main Market, industrial products and services (815.19 million), construction (86.94 million), technology (198.55 million), SPAC (nil), financial services (47.65 million), property (138.59 million), plantation (20.14 million), REITs (14.5 million), closed/fund (8,000), energy (389.42 million), healthcare (73.75 million), telecommunications and media (22.73 million), transportation and logistics (69.76 million) and utilities (12.87 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends the week lower, bucks regional trend

 

KUALA LUMPUR (Sept 10): Bursa Malaysia bucked the regional market trend to end the week lower on the selling of selected heavyweights such as Kuala Lumpur Kepong Bhd (KLK), Hong Leong Financial Group Bhd, and Nestle (Malaysia) Bhd.

At 5pm, the barometer index retreated 2.92 points to finish at 1,575.97 from Thursday’s close of 1,578.89.

After opening 2.75 points lower at 1,576.14, the FBM KLCI moved between 1,572.61 and 1,583.84 today.

However on the broader market, gainers led decliners 498 to 466, while 485 counters were unchanged, 798 untraded, and six others suspended.

Turnover was higher at 4.4 billion units worth RM2.75 billion compared with 4.18 billion units worth RM2.92 billion on Thursday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the Malaysian stock market ended mixed in a lacklustre trading day, with the FBM KLCI falling marginally by 0.18% due to the absence of buying catalysts.

“We believe valuations of Malaysian stocks are still cheap compared to regional markets and will be a major attraction for foreign funds,” he told Bernama.

The FBM KLCI went up initially in the morning session to as high as 1,583.84 points but settled the day lower at 1,575.97 points.

“Data such as Malaysia’s industrial production index (IPI) coming in lower by 5.2% in July suggests that the economy is still affected by the movement control order,” said Bank Islam chief economist Mohd Afzanizam Abdul Rashid. “Overnight reports on US initial jobless claims which fell to 310,000 as of Sept 4 against an expectation of 334,000 would complicate the assessment of the labour market in particular as to how it would steer the Federal Reserve’s decision on tapering of asset purchases.”

Regionally, Japan’s Nikkei 225 rose 1.25% to 30,381.84, Hong Kong’s Hang Seng Index increased 1.91% to 26,205.91, South Korea’s Kospi gained 0.36% to 3,125.76 and Singapore’s Straits Times Index advanced 1% to 3,102.54.

Back home, heavyweights Malayan Banking Bhd rose three sen to RM8.29, Petronas Chemicals Group Bhd bagged 10 sen to RM7.95, Tenaga Nasional Bhd added four sen to RM10.30, Press Metal Aluminium Holdings Bhd increased six sen to RM5.87 and Public Bank Bhd was flat at RM4.10.

Among the top decliners were Kluang Rubber Company (Malaya) Bhd, which fell 34 sen to RM4.13; Nestle, which dropped 30 sen to RM134.70; Sungei Bagan Rubber Company (Malaya) Bhd, which eased 26 sen to RM3.91; and KLK, which fell 22 sen to RM20.98.

Of the actives, KNM Group Bhd strengthened four sen to 30 sen, Avillion Bhd gained 1.5 sen to 15 sen, and Lambo Group Bhd reduced three sen to 7.5 sen.

On the index board, the FBM Emas Index fell 11.72 points to 11,522.81, the FBMT 100 Index was 19.35 points lower at 11,212.32, and the FBM Emas Shariah Index dropped 26.34 points to 12,614.2.

The FBM 70 dropped 20.38 points to 15,044.11 but the FBM ACE rose 61.54 points to 7,255.1.

Sector wise, the Plantation Index shed 49.49 points to 6,604.22, the Financial Services Index increased 1.26 points to 15,390.17, and the Industrial Products and Services Index eased 0.05 of-a-point to 200.9.

The Main Market volume inched down to 2.64 billion shares worth RM2.4 billion from Thursday’s 2.69 billion shares worth RM2.62 billion.

Warrants turnover fell to 379.11 million units valued at RM57.44 million compared to 395.47 million units valued at RM62.95 million previously.

Volume on the ACE Market expanded to 1.32 billion shares worth RM286.8 million from 1.09 billion shares worth RM236.47 million yesterday.     

Consumer products and services accounted for 445.39 million shares traded on the Main Market, industrial products and services (770.65 million), construction (117.7 million), technology (254.92 million), SPAC (nil), financial services (41.42 million), property (307.76 million), plantation (39.92 million), REITs (5.33 million), closed/fund (nil), energy (443.72 million), healthcare (145.63 million), telecommunications and media (21.01 million), transportation and logistics (38.63 million) and utilities (11.01 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends in the red, reversing yesterday's gains

 

KUALA LUMPUR (Sept 9): Bursa Malaysia reversed yesterday’s gains, ending in the red today on selling pressure across the board.

Of the index-linked stocks, Top Glove Corporation Bhd, MISC Bhd, and Press Metal Aluminium Holdings Bhd were the top losers, which together weighed down the FTSE Bursa Malaysia KLCI (FBM KLCI) by a combined 7.54 points, dealers said. 

At 5pm, the barometer index fell by 18.74 points to finish at 1,578.89 from Wednesday’s close of 1,597.63.

After opening 5.45 points lower at 1,592.18, the FBM KLCI moved between 1,577.45 and 1,592.74 today.

In the broader market, losers thumped gainers 747 to 338, while 413 counters were unchanged, 721 untraded and six others suspended.

Turnover was lower at 4.18 billion units worth RM2.92 billion compared with 5.91 billion units worth RM3.23 billion on Wednesday.

A dealer said the local bourse stayed in negative territory since opening, tracking the lacklustre overnight performance of global stocks amid investors’ anticipation of the unwinding of central banks’ Covid-19 stimulus measures.

“Bursa also remained in consolidation mode, with today's decline exacerbated by regional weaknesses as well,” he told Bernama.

Meanwhile, Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid commented that the selling pressure was quite broad based, reflecting that investors were trying to lock in some gains after the recent rally in equity prices.

“Concerns over the US labour market since last week, China’s regulatory crackdown on private companies and intermittent lockdowns in some jurisdictions following the rise in Covid-19 infections might have triggered the selling pressure.

“And today, Bank Negara Malaysia has kept the Overnight Policy Rate unchanged at 1.75% with the balance of risks now tilted to the downside. So what we are seeing this week is the rise in risk aversion,” he said.

He added that clearly, the rise in Covid-19 new cases would continue to rock the market despite higher vaccination rates globally, and this was especially true as certain jurisdictions had been reportedly going back into lockdowns, hence indicating that the pace of the economic recovery would stay uneven.

Regionally, Japan’s Nikkei 225 eased 0.57% to 30,008.19, Hong Kong’s Hang Seng Index fell 2.3% to 25,716, and South Korea’s Kospi slipped 1.53% to 3,114.7, while Singapore’s Straits Times Index edged up 0.01% to 3,069.22.

Back home, heavyweights Malayan Banking Bhd and Public Bank Bhd slipped five sen each to RM8.26 and RM4.10, respectively, Petronas Chemicals Group Bhd eased one sen to RM8.08, and Tenaga Nasional Bhd shed four sen to RM10.26, but IHH Healthcare Bhd rose 21 sen to RM6.61.

Of the actives, Kanger International Bhd edged up half-a-sen to 6.5 sen and KNM Group Bhd lost half-a-sen to 26 sen. Meanwhile, TA Win Holdings Bhd, JOE Holding Bhd and Focus Dynamics Group Bhd were flat at 14.5 sen, five sen and 5.5 sen, respectively.

On the index board, the FBM Emas Index fell 130.77 points to 11,534.53, the FBMT 100 Index was 132.78 points lower at 11,231.67, and the FBM Emas Shariah Index dropped 147.79 points to 12,640.54.

The FBM 70 tumbled 176.03 points to 15,064.49 and the FBM ACE slipped 58.52 points to 7,193.56.

Sector wise, the Plantation Index shed 74.84 points to 6,653.71, the Financial Services Index declined 137.53 points to 15,388.91, and the Industrial Products and Services Index slid 1.66 points to 200.95.

The Main Market volume shrank to 2.69 billion shares worth RM2.62 billion from Wednesday’s 3.83 billion shares worth RM2.85 billion.

Warrants turnover rose to 395.47 million units valued at RM62.95 million compared to 377.15 million units valued at RM53.53 million previously.

Volume on the ACE Market narrowed to 1.09 billion shares worth RM236.47 million from 1.71 billion shares worth RM337.99 million yesterday.     

Consumer products and services accounted for 482.85 million shares traded on the Main Market, industrial products and services (974.03 million), construction (159.52 million), technology (254.17 million), SPAC (nil), financial services (65.72 million), property (158.64 million), plantation (71.4 million), REITs (11.07 million), closed/fund (9,700), energy (267.93 billion), healthcare (122.51 million), telecommunications and media (29.11 million), transportation and logistics (76.62 million) and utilities (18.92 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends on a firm note on last-minute buying

 

KUALA LUMPUR (Sept 8): Bursa Malaysia ended at an intraday high, lifted by last-minute buying in selected heavyweight stocks, led by Press Metal Aluminium Holdings Bhd and MISC Bhd, dealers said.

Press Metal and MISC lifted the index by a combined 4.92 points.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 14.15 points to end at 1,597.63 from Tuesday’s close of 1,583.48.

After opening 1.76 points easier at 1,581.72, the FBM KLCI moved between 1,579.18 and 1,597.63 throughout the day.

However, market breadth remained negative with decliners trumping gainers 707 to 374, while 426 counters were unchanged, 730 untraded and 25 others suspended.

Turnover was higher at 5.91 billion units worth RM3.23 billion compared with 4.75 billion units worth RM2.89 billion on Tuesday.

A dealer said trading on Bursa Malaysia turned choppy at midday. 

“The local bourse extended its losses at mid-afternoon, dragged down by selling in heavyweights led by the healthcare and utilities sectors, but last-minute stints helped the market to end on a firm note,” he told Bernama.

Meanwhile, Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid commented that regional equities were mostly in the negative territory, in tandem with the rising risk aversion among investors.

Hong Kong’s Hang Seng Index eased 0.12% to 26,320.93, Singapore’s Straits Times Index fell 1.27% to 3,069.16 and South Korea’s Kospi slipped 0.77% to 3,162.99, while Japan’s Nikkei 225 rose 0.89% to 30,181.21.

“News on major investment banks on Wall Street turning more cautious on US equities may have weighed on market sentiments.

“The US Nonfarm Payroll (NFP) in August came in lower at 235,000 versus 1.05 million in the preceding month, suggesting that the labour market recovery is soft and that the recovery process will continue to be affected by the resurgence in Covid-19 cases,” he said.

He noted that such sentiment had affected the FBM KLCI’s performance.

“Nonetheless, the telco, plantation and banking counters have been in positive territory, mitigating the downward pressure,” said Mohd Afzanizam.

Moving forward, he said investors would be looking at Bank Negara Malaysia’s Monetary Policy Committee (MPC) meeting tomorrow for clues on the market direction, particularly its assessment of the health of the economy.

Among the heavyweights, Malayan Banking Bhd and Petronas Chemicals Group Bhd added four sen each to RM8.31 and RM8.09, respectively, Public Bank Bhd gained five sen to RM4.15, IHH Healthcare Bhd rose 10 sen to RM6.40, while Tenaga Nasional Bhd reduced four sen to RM10.30.

Of the actives, KNM Group Bhd eased five sen to 26.5 sen, PUC Bhd improved one sen to 17.5 sen, Fintec Global Bhd edged up half-a-sen to 2.5 sen, while Borneo Oil Bhd and Metronic Global Bhd were flat at three sen and 3.5 sen, respectively.

On the index board, the FBM Emas Index rose 64.94 points to 11,665.3, the FBMT 100 Index was 78.17 points higher at 11,364.45, and the FBM Emas Shariah Index advanced 78.17 points to 12,788.33.

The FBM 70 improved 16.84 points to 15,240.52, while the FBM ACE dropped 108.22 points to 7,252.08.

Sector wise, the Plantation Index surged 107.29 points to 6,728.55, the Financial Services Index jumped 88.36 points to 15,526.44 and the Industrial Products and Services Index added 1.33 points to 202.61.

The Main Market volume increased to 3.83 billion shares worth RM2.85 billion from Tuesday’s 3.28 billion shares worth RM2.54 billion.

Warrants turnover rose to 377.15 million units valued at RM53.53 million compared to 330.7 million units valued at RM50 million.

Volume on the ACE Market widened to 1.71 billion shares worth RM337.99 million from 1.13 billion shares worth RM296.22 million yesterday.     

Consumer products and services accounted for 414.3 million shares traded on the Main Market, industrial products and services (1.44 billion), construction (200.55 million), technology (216.71 million), SPAC (nil), financial services (67.73 million), property (197.38 million), plantation (32.31 million), REITs (10.92 million), closed/fund (7,000), energy (1.01 billion), healthcare (105.52 million), telecommunications and media (56.14 million), transportation and logistics (55.31 million) and utilities (19.15 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends slightly higher in range-bound trade

KUALA LUMPUR (Sept 7): Bursa Malaysia ended slightly higher today in range-bound trading, supported by buying in selected heavyweight stocks, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 1.89 points to 1,583.48 from  Monday’s close of 1,581.59.

It opened 0.16 of-a-point better at 1,581.75 and moved between 1,580.14 and 1,586.37 throughout the day. 

Market breadth was positive with gainers outpacing losers 632 to 439, while 425 counters were unchanged, 731 untraded and 25 others suspended.

Turnover was higher at 4.75 billion units worth RM2.89 billion compared with 4.42 billion units worth RM2.89 billion on Monday.

A dealer said Bursa Malaysia had opened slightly higher, tracking its regional peers which mostly extended yesterday’s rally but hovered in a tight range throughout the trading session, taking the cue from the latest weak US jobs report which investors viewed positively.

“On the local bourse, profit-taking in financial stocks continued to weigh on the barometer index, however, the index was supported by persistent buying in Press Metal [Aluminium Holdings Bhd] stock which contributed 4.24 points to the index,” he said.

Asian markets also ended mostly higher today as investors awaited decisions from central banks in Europe and elsewhere on clues on economic stimulus and measures to be taken to curb the Covid-19 pandemic.

Singapore’s Straits Times Index gained 0.14% to 3,105.44, Hong Kong’s Hang Seng Index increased 0.73% to 26,353.63, Japan’s Nikkei 225 rose 0.86% to 29,916.14 while South Korea’s Kospi shed 0.5% to 3,187.42. 

Among the heavyweights, Malayan Banking Bhd fell six sen to RM8.27, Petronas Chemicals Group Bhd, IHH Healthcare Bhd and CIMB Group Holdings Bhd shed five sen each to RM8.05, RM6.30, and RM4.91, respectively.

Public Bank Bhd added one sen to RM4.10 while Tenaga Nasional Bhd was flat at RM10.34.

Of the actives, KNM Group Bhd increased 2.5 sen to 31.5 sen, TFP Solutions Bhd edged up half-a-sen to 23.5 sen, and Avillion Bhd bagged one sen to 14 sen.

Pegasus Heights Bhd and AE Multi Holdings Bhd were flat at 1.5 sen and 4.5 sen, respectively.

On the index board, the FBM Emas Index increased 19.51 points to 11,600.36, the FBMT 100 Index was 13.8 points better at 11,286.28, and the FBM Emas Shariah Index advanced 36.94 points to 12,711.89.

The FBM 70 lifted 19.93 points to 15,223.88 while the FBM ACE jumped 84.72 points to 7,360.3.

Sector wise, the Financial Services Index fell 38.14 points to 15,438.08, the Plantation Index slid 4.45 points to 6,621.26 while the Industrial Products and Services Index inched up 1.17 points to 201.28.

The Main Market volume increased to 3.28 billion shares worth RM2.54 billion from Monday’s 2.87 billion shares worth RM2.48 billion.

Warrants turnover rose to 330.7 million units valued at RM50 million compared to 315.03 million units valued at RM48.91 million.

Volume on the ACE Market narrowed to 1.13 billion shares worth RM296.22 million from 1.24 billion shares worth RM360.88 million yesterday.

Consumer products and services accounted for 454.91 million shares traded on the Main Market, industrial products and services (1.14 billion), construction (194.26 million), technology (316.13 million), SPAC (nil), financial services (53.11 million), property (363.2 million), plantation (39.16 million), REITs (8.25 million), closed/fund (38,500), energy (445.34 million), healthcare (59.77 million), telecommunications and media (39.58 million), transportation and logistics (147.16 million) and utilities (16.44 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia bucks regional trend to end lower

 

KUALA LUMPUR (Sept 6): Bursa Malaysia bucked the regional market trend to end lower today, succumbing to selling pressure on heavyweight stocks, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 7.6 points or 0.48% to 1,581.59 from last Friday’s close of 1,589.19.

It opened 1.48 points better at 1,590.67 and moved between 1,577.79 and 1,592.16 throughout the day. 

Market breadth was positive with gainers outpacing decliners by 605 to 476, while 403 counters were unchanged, 754 untraded and 17 others suspended.

Turnover was higher at 4.42 billion units worth RM2.89 billion compared with 4.25 billion units worth RM2.88 billion last Friday.

A dealer said Bursa Malaysia opened higher but fell into the red at mid-morning amid selling pressure on heavyweights and continued the downtrend for the rest of the trading session.

Asian shares were mostly up today, led by a rally in the Japanese stock market amid the imminent resignation of Prime Minister Yoshihide Suga, which spurred hopes that the Covid-19 pandemic in the country would be better managed by his successor.

“A disappointing US jobs data in August also fueled expectation that the Federal Reserve could push back the timeline for tapering stimulus measures and this also helped to boost Asian shares,” he told Bernama.

Singapore’s Straits Times Index gained 0.51% to 3,097.72, Hong Kong’s Hang Seng Index increased 1.01% to 26,163.63, Japan’s Nikkei 225 rose 1.83% to 29,659.89 and South Korea’s Kospi added 0.07% to 3,203.33. 

Bank Islam Malaysia Bhd economist Adam Mohamed Rahim commented that the FBM KLCI’s plantation counters dominated losers with Kuala Lumpur Kepong Bhd losing 3.26%.

It dragged the Bursa Malaysia Plantation Index lower by 1.1%, making it the biggest loser among Bursa's sectoral indices today.

Of the heavyweights, Malayan Banking Bhd eased three sen to RM8.33, Public Bank Bhd shed four sen to RM4.09, Petronas Chemicals Group Bhd fell 14 sen to RM8.10, Tenaga Nasional Bhd slid two sen to RM10.34, and IHH Healthcare Bhd was up two sen at RM6.35.

Of the actives, Emico Holdings Bhd gained seven sen to 44 sen, KNM Group Bhd edged up half-a-sen to 29 sen and Scope Industries Bhd improved 2.5 sen to 34 sen, while both Bina Puri Holdings Bhd and Vortex Consolidated Bhd eased half-a-sen to 5.5 sen and 7.5 sen, respectively.

On the index board, the FBM Emas Index dipped 14.13 points to 11,580.85, the FBMT 100 Index was 20.51 points lower at 11,272.48, and the FBM Emas Shariah Index slipped 19.8 points to 12,674.95.

The FBM ACE increased 24.8 points to 7,275.58 and the FBM 70 gained 103.5 points to 15,203.75.

Sector wise, the Plantation Index fell 73.98 points to 6,625.71, the Financial Services Index dropped 60.55 points to 15,476.22, while the Industrial Products and Services Index inched up 0.19 of-a-point to 200.11.

Main Market volume decreased to 2.87 billion shares worth RM2.48 billion from last Friday’s 3.16 billion shares worth RM2.59 billion. 

Warrants turnover rose to 315.03 million units valued at RM48.91 million compared to 280.18 million units valued at RM39.84 million.

Volume on the ACE Market widened to 1.24 billion shares worth RM360.88 million from 811.25 million shares worth RM246.32 million previously.     

Consumer products and services accounted for 664.68 million shares traded on the Main Market, industrial products and services (828.44 million), construction (234.98 million), technology (384.57 million), SPAC (nil), financial services (58.91 million), property (201.18 million), plantation (35.64 million), REITs (6.48 million), closed/fund (128,200), energy (263.92 million), healthcare (41.32 million), telecommunications and media (45.84 million), transportation and logistics (84.08 million) and utilities (16.8 million).

 

Source: The Edge

Market Daily Report: Late buying in telecom, financial service counters pushes Bursa to end at day's high

 

KUALA LUMPUR (Sept 3): Late buying in selected telecommunications and media as well as financial service counters has pushed Bursa Malaysia to end at its intra-day high today amid mixed sentiments on the regional markets, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up seven points at 1,589.19 from yesterday’s close of 1,582.19.

The index opened 2.98 points better at 1,585.17 and hovered to the lowest of 1,579.94 before ending the trading session at the highest level for the day.

Market breadth was positive with gainers thumping decliners 631 to 399, while 448 counters were unchanged, 750 untraded and 17 others suspended.

Turnover was higher at 4.25 billion units worth RM2.88 billion compared with 4.06 billion units worth RM2.77 billion yesterday.

A dealer said that regionally, most Asian bourses were mixed as investors turned cautious after weaker-than-expected Chinese economic data, which raises concerns about China’s slowing economic growth and regulatory changes.

Meanwhile, ActivTrades trader Anderson Alves said data continues to show that China's economy is slowing down, with the latest Chinese Caixin services Purchasing Managers Index (PMI) recording its first headline contraction for the survey since April 20, at 46.7 versus expectations of 52.6.

“The new wave of Covid-19 infections sweeping the Asian region, along with China's slowdown, could put some pressure on local assets. Australia's New South Wales reported 1,431 new cases, and the state premier expects the next two weeks to show a worsening in infections,” he said in a research note today.

Meanwhile, Alves said the technology sector in the region could feel some pain as local reports said China was set to strengthen its review of game content.

“On the macro front, the big reading for the season ahead will be the US Nonfarm Payroll report. The consensus is for the pace of hiring to cool in August, although the short-term trend rates are likely to improve. Following the past few days of mixed data, traders seem to be positioned to price in a more 'dovish' print.

“However, should the data surprise on the upside, it may offer hints that the US labour market is making progress towards the US Federal Reserve's 'substantial' threshold where Federal Open Market Committee (FOMC) members could feel comfortable to adopt a stronger hawkish position ahead of the September meeting,” he added.

Maxis Bhd and Public Bank Bhd were the top two gainers for the benchmark index, contributing to a total of 4.24 points, rising 15 sen and six sen each to RM4.64 and RM4.13 respectively.

Among other heavyweights, Malayan Banking Bhd gained nine sen to RM8.36, CIMB Group Holdings Bhd rose five sen to RM4.96, while Petronas Chemicals Group Bhd slipped five sen to RM8.24, Tenaga Nasional Bhd declined two sen to RM10.36 and IHH Healthcare Bhd fell three sen to RM6.33.

Among the actives, KNM Group Bhd improved one sen to 28.5 sen, CTOS Digital Bhd added 15 sen to RM1.90, Sapura Energy Bhd earned half-a-sen to 12.5 sen while Borneo Oil Bhd was flat at three sen.

On the index board, the FBM Emas Index advanced 61.56 points to 11,594.98, the FBMT 100 Index went up 55.01 points to 11,292.99 and the FBM Emas Shariah Index increased 37.39 points to 12,694.75.

The FBM 70 surged 94.17 points to 15,100.25 while the FBM ACE gained 34.19 points to 7,251.78.   

Sector wise, the Plantation Index perked up 11.14 points to 6,699.69 while the Financial Services Index chalked up 136.9 points to 15,536.77 and the Industrial Products and Services Index added 1.39 points to 199.92.

Main Market volume increased to 3.16 billion shares worth RM2.59 billion from yesterday’s 2.62 billion shares worth RM2.37 billion. 

Warrants turnover fell to 280.18 million units valued at RM39.84 million compared to 370.34 million units valued at RM49.07 million.

Volume on the ACE Market narrowed 811.25 million shares worth RM246.32 million from 1.06 billion shares worth RM348.83 million previously.     

Consumer products and services accounted for 491.94 million shares traded on the Main Market, industrial products and services (1.12 billion), construction (158.11 million), technology (316.76 million), SPAC (nil), financial services (61.34 million), property (282.49 million), plantation (47.95 million), REITs (4.71 million), closed/fund (16,500), energy (437.35 million), healthcare (65.54 million), telecommunications and media (39.59 million), transportation and logistics (94.55 million) and utilities (31.63 million).

 

Source: The Edge

Market Daily Report: KLCI stays in the red on further profit-taking

 

KUALA LUMPUR (Sept 2): The FBM KLCI stayed in the red today on further profit-taking against the backdrop of mixed regional markets. 

The benchmark index closed 4.7 points or 0.3% lower at 1,582.19. 

Rakuten Trade head of equity sales Vincent Lau said the KLCI is currently in a consolidation mode and trading activity in the local bourse remained healthy. 

“Volume is still healthy. For the past few days we have witnessed trading volume surpassing four billion levels. 

“Selected plantation stocks, including Kuala Lumpur Kepong Bhd (KLK) and Sime Darby Plantation Bhd, pulled the benchmark index lower today, possibly due to profit-taking activities,” he told The Edge. 

KLK closed 14 sen or 0.66% lower at RM21.16 while Sime Darby Plantation fell 11 sen or 2.68% to RM4. 

Areca Capital Sdn Bhd CEO Danny Wong said it is healthy for the local index to pause after a good run recently.

“We expect foreign inflow to continue as the perceived political uncertainty has subsided, and amid the higher rate of full vaccination currently,” he added. 

On the broader market, losers outnumbered gainers 574 to 434, while 464 counters ended unchanged. 

A total of 4.05 billion shares worth RM2.76 billion were traded, a decline from 4.89 billion shares worth RM3.38 billion yesterday.

Top losers of the day included Genetec Technology Bhd (down 94 sen or 3.09% to RM29.48), Malaysian Pacific Industries Bhd (down 92 sen or 2.04% to RM44.08) and Dutch Lady Milk Industries Bhd (down 38 sen or 1.09% to RM34.62).

Leading gainers were Nestle (Malaysia) Bhd (up 40 sen or 0.30% to RM135.50), Hong Leong Bank Bhd (up 24 sen or 1.27% to RM19.16) and Fraser & Neave Holdings Bhd (up 20 sen or 0.72% to RM27.86).

Ho Wah Genting Bhd, which saw 105.4 million shares traded, was the most actively traded stock.

On the regional front, South Korean stocks finished lower, ending a four-day rally, as investors awaited key US jobs data for clues on when the Federal Reserve might start reducing its pandemic-era stimulus, Reuters reported. The KOSPI indicator closed 31.17 points or 0.97% lower at 3,175.85 

In China, Shanghai’s benchmark index ended higher and blue-chips closed unchanged, as investors hoped soft economic data could lead Beijing to roll out further support measures. The Shanghai Composite Index rose 29.94 points or 0.84% to 3,597.04. 

 

Source: The Edge

Market Daily Report: FBM KLCI ends lower as banking, healthcare-linked counters drag

 

KUALA LUMPUR (Sept 1): The FBM KLCI reversed Monday’s gain and ended lower today, bucking regional trend, as banking heavyweights and healthcare-linked counters dragged on the benchmark index. At 5pm, the FBM KLCI finished 14.49 points or 0.90% lower at 1,586.89.

Bank Islam Malaysia Bhd Adam Mohamed Rahim said selected index constituents from the banking sectors retreated by more than 1% during the day on profit-taking activities.

“Hong Leong Bank, Maybank, Public Bank and RHB Bank all fell more than 1%, dragging the Bursa Malaysia Financial Services Index by over 1%, one of the biggest losers among Bursa sectoral indices. Perhaps investors decided to cash in on some gains after the recent rally seen in the FBM KLCI,” he told theedgemarkets.com when contacted.

Adam added that healthcare-related counters also took a hit today as Hartalega Holdings Bhd, IHH Healthcare Bhd and Top Glove Corp Bhd ended lower, coinciding with the decline in number of daily Covid-19 cases today, which fell to 18,762 from 20,897 yesterday.

Meanwhile, the local bourse saw a total of 4.89 billion shares worth RM3.38 billion traded, down from yesterday’s 4.43 billion shares worth RM3.67 billion.

Market breadth was largely neutral, with 562 decliners versus 510 gainers, while 427 counters were unchanged.

Gainers, in terms of value, were led by Malaysian Pacific Industries Bhd, Kotra Industries Bhd and Ge-Shen Corp Bhd, while losers were led by Genetec Technology Bhd, Hartalega Holdings Bhd and Hong Leong Bank Bhd.

The most actively-traded stock was KNM Group Bhd, which saw 321.80 million shares change hands.

On the regional front, Reuters reported that Chinese shares rose on Wednesday, after factory activity data raised hopes of an easing in policy, with consumer staples, real estate, financials and infrastructure sectors leading gains.

Elsewhere, Japanese shares inched higher to hit a 1-1/2-month high, as investors bet Prime Minister Yoshihide Suga’s manoeuvring might help restore political stability. Domestic media reported that Suga intended to dissolve the lower house of Parliament in mid-September, and was considering holding the general election on Oct 17. Suga said he had no such plan, but few investors took his comments at face value.

The Shanghai Composite Index climbed 23.16 points or 0.65% to close at 3,567.10, while the Japanese Nikkei Index settled 361.48 points or 1.29% higher at 28,451.02.

 

Source: The Edge