Market Daily Report: Bursa Malaysia ends lower on Oct 29, CI down 0.29%

 

KUALA LUMPUR (Oct 29): Bursa Malaysia ended lower on Friday, with the key index falling 0.29% amid a market consolidation mode due to lack of buying interest as investors digest the announcements in Budget 2022 tabled on Friday.  

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) trimmed 4.55 points to 1,562.31 from Thursday (Oct 28)'s close of 1,566.86.  

The market bellwether opened 2.01 points higher at 1,568.87 and moved between 1,559.66 and 1,570.65 throughout the day.  

The broader market was slightly positive as gainers led losers by 494 to 485, while 451 counters were unchanged, 850 untraded, and 46 others suspended.

Turnover eased to 3.03 billion units valued at RM2.35 billion from Thursday’s 4.05 billion units valued at RM2.73 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI remained well supported at around the 1,560-1,565 region.

“We believe the recent correction on the local bourse which saw a decline of more than 40 points may attract some bargain hunting activities,” he told Bernama.

Of the heavyweights, IHH Healthcare rose two sen to RM6.54, TNB added one sen to RM9.66, Press Metal jumped 10 sen to RM5.56, Maybank declined six sen to RM8.05, Public Bank and CIMB shed three sen each to RM4.17 and RM5.22, respectively, while Petronas Chemicals shed one sen to RM8.69.  

As for the actives, MMAG rose one sen to 10.5 sen, TA Win edged up half-a-sen to 15.5 sen, Dataprep advanced five sen to RM1, Sarawak Consolidated and Kanger were both flat at 23 sen and 4.5 sen respectively, while Benalec inched down half-a-sen to 15 sen, and MY E.G. declined three sen to RM1.04. 

On the index board, the FBM Emas Index slid 17.51 points to 11,559.0, the FBMT 100 Index was 21.72 points lower at 11,189.09, the FBM 70 increased 12.54 points to 15,302.37, the FBM ACE bagged 60.74 points to 7,096.17, and the FBM Emas Shariah Index gained 2.11 points to 12,591.59.    

Sector-wise, the Financial Services Index went up 97.52 points to 15,589.21, the Industrial Products and Services Index was 1.15 points higher at 206.79, and the Plantation Index fell 74.23 points to 6,788.82. 

The Main Market volume went down to 2.01 billion shares worth RM2.09 billion, from 2.63 billion shares worth RM2.39 billion on Thursday.  

Warrants turnover decreased to 217.27 million units worth RM33.86 million, versus 276.62 million units worth RM43.69 million on Thursday.

Volume on the ACE Market fell to 804.57 million shares valued at RM230.11 million, from Thursday’s 1.14 billion shares valued at RM294.51 million. 

Consumer products and services counters accounted for 278.60 million shares traded on the Main Market, industrial products and services (637.26 million), construction (210.89 million), technology (259.64 million), SPAC (nil), financial services (71.32 million), property (242.06 million), plantation (24.68 million), REITs (7.36 million), closed/fund (8,500), energy (122.51 million), healthcare (44.61 million), telecommunications and media (21.80 million), transportation and logistics (78.59 million), and utilities (11.41 million).

 

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends lower

 

KUALA LUMPUR (Oct 28): Bursa Malaysia ended lower on Thursday on lacklustre trading ahead of the tabling of Budget 2022 on Friday. 

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 16.22 points to its intraday low of 1,566.86 from Wednesday's close of 1,583.08. 

The market bellwether opened 2.0 points weaker at 1,581.08 and reached an intraday high of 1,581.49 earlier in the day. 

Market breadth was also negative with losers trouncing gainers 624 to 422, while 415 counters were unchanged, 830 untraded, and 58 others suspended.

Turnover increased slightly to 4.05 billion units valued at RM2.73 billion from Wednesday’s 4.02 billion units valued at RM2.5 billion. 

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI was again stuck within a tight consolidation phase.

“We expect to see a similar trend with the index hovering within the 1,580-1,590 range amid a cautious trading stance ahead of Budget 2022 announcement tomorrow,” he told Bernama.

After hitting a multi-year high, crude oil prices retreated on Thursday on higher inventory, with Brent crude falling to US$84.50 per barrel.

“However, many expect crude oil prices to stay high as under investment may impact the supply side for now, hence we expect buying interests in local oil and gas counters to remain strong in the short to mid term.

“From a technical perspective, the FBM KLCI will see its immediate resistance at 1,600, followed by 1,615 while the immediate support is at 1,560 and then 1,530,” added Thong.

Of the heavyweights, Hong Leong Bank Bhd rose four sen to RM18.90, Malayan Banking Bhd fell two sen to RM8.11, Public Bank Bhd and IHH Healthcare Bhd both eased three sen to RM4.20 and RM6.52, respectively, Petronas Chemicals Group Bhd shaved off nine sen to RM8.70 and Tenaga Nasional Bhd gave up five sen to RM9.65.

As for the actives, Benalec Holdings Bhd increased one sen to 15.5 sen, Dataprep Holdings Bhd surged 10 sen to 95 sen, Eco World Development Group Bhd jumped 14.5 sen to RM1.10, Sime Darby Property Bhd advanced 2.5 sen to 74.5 sen, Kanger International Bhd shed one sen to 4.5 sen, and Sarawak Consolidated Industries Bhd dipped six sen to 23 sen. 

On the index board, the FBM Emas Index slid 89.25 points to 11,576.51, the FBMT 100 Index was 93.59 points lower at 11,210.81, the FBM 70 decreased 40.27 points to 15,289.83, the FBM ACE slipped 86.23 points to 7,035.43, and the FBM Emas Shariah Index lost 118.14 points to 12,589.48.   

Sector-wise, the Financial Services Index went down 63.12 points to 15,686.73, the Industrial Products and Services Index eased 3.05 points to 205.64, and the Plantation Index fell 91.74 points to 6,863.05. 

The Main Market volume stood at 2.63 billion shares worth RM2.39 billion compared with Wednesday’s 2.64 billion shares worth RM2.14 billion. 

Warrants turnover increased to 276.62 million units worth RM43.69 million from 275.28 million units worth RM46.90 million on Wednesday.

Volume on the ACE Market rose to 1.14 billion shares valued at RM294.51 million against 1.10 billion shares valued at RM319.45 million on Wednesday. 

Consumer products and services counters accounted for 336.8 million shares traded on the Main Market, industrial products and services (776.67 million), construction (335.93 million), technology (257.12 million), SPAC (nil), financial services (57.59 million), property (466.41 million), plantation (34.04 million), REITs (7.53 million), closed/fund (29,500), energy (212.54 million), healthcare (34.71 million), telecommunications and media (25.29 million), transportation and logistics (68.80 million), and utilities (17.17 million).

 

Source: The Edge

Market Daily Report: Bursa ends lower on lack of fresh catalysts

 

KUALA LUMPUR (Oct 27): Bursa Malaysia ended lower on Wednesday on lack of fresh catalysts.  

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.12 points to 1,583.08 from Tuesday's close of 1,584.2.

The market bellwether opened 3.02 points higher at 1,587.22 and fluctuated between 1,581.76 and 1,591.64 throughout the day.

Market breadth was also negative with losers trouncing gainers 632 to 386, while 420 counters were unchanged, 863 untraded, and 45 others suspended.

Turnover increased slightly to 4.02 billion units valued at RM2.5 billion from Tuesday’s 3.83 billion units worth RM2.37 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng reckoned the FBM KLCI to remain well supported from foreign funds.

Meanwhile, he said crude palm oil rebounded to assail to a record-breaking month in October for average crude palm oil price at above the RM5,000 per tonne threshold, signalling buying opportunity for plantation stocks.

“We expect the index to hover within the 1,585-1,600 range for the remaining of the week. From a technical point of view, immediate resistance is unchanged at 1,615 while immediate support remains at 1,565,” Thong told Bernama.

Regional markets were mostly lower as investors remained concerned about higher inflation and the indebted real estate sector in the region.

Singapore’s Straits Times Index advanced 0.44% to 3,218.75, Japan’s Nikkei 225 shed 0.03% to 29,908.24, and Hong Kong’s Hang Seng Index declined 1.57% to 25,682.74.

Of the heavyweights, Malayan Banking Bhd and Petronas Chemicals Group Bhd added one sen each to RM8.13 and RM8.79, respectively, Public Bank Bhd and IHH Healthcare Bhd were flat at RM4.23 and RM6.55, respectively, Tenaga Nasional Bhd fell one sen to RM9.70, and Press Metal Aluminium Holdings Bhd slid six sen to RM5.70.  

As for the actives, Redtone Digital Bhd surged 13.5 sen to 69 sen, Metronic Global Bhd and LKL International Bhd were flat at 2.5 sen and 13 sen, respectively, Vortex Consolidated Bhd shed two sen to eight sen, KNM Group Bhd contracted 1.5 sen to 20 sen, and Hiap Teck Venture Bhd lost eight sen to 57 sen. 

On the index board, the FBM Emas Index slid 8.4 points to 11,665.76, the FBMT 100 Index was 3.21 points lower at 11,304.4, the FBM 70 improved 19.78 points to 15,330.1, the FBM ACE reduced 48.45 points to 7,121.66, and the FBM Emas Shariah Index went down 31.89 points to 12,707.62.  

Sector-wise, the Financial Services Index increased 34.42 points to 15,749.85, the Industrial Products and Services Index gave up 1.22 points to 208.69, and the Plantation Index dipped 39.52 points to 6,954.79. 

The Main Market volume rose to 2.64 billion shares worth RM2.14 billion from Tuesday’s 2.29 billion shares worth RM2.05 billion.

Warrants turnover increased to 275.28 million units worth RM46.9 million from 243.75 million units worth RM37.87 million on Tuesday.

Volume on the ACE Market eased to 1.1 billion shares valued at RM319.45 million from 1.28 billion shares valued at RM282.02 million on Tuesday.

Consumer products and services counters accounted for 341.74 million shares traded on the Main Market, industrial products and services (1.19 billion), construction (90.22 million), technology (233.51 million), SPAC (nil), financial services (60.39 million), property (174.83 million), plantation (24.09 million), REITs (6.29 million), closed/fund (15,100), energy (352.15 million), healthcare (42.51 million), telecommunications and media (30.05 million), transportation and logistics (72.86 million), and utilities (16.4 million).

 

 

Source: The Edge

Market Daily Report: KLCI listless while awaiting Friday’s Budget announcement

 

KUALA LUMPUR (Oct 26): The FBM KLCI remained listless on Tuesday despite Covid-19 case spikes in the region and record earnings seen in the US.

The benchmark index closed 3.74 points or 0.24% lower at 1,584.2 after opening at 1,588.04, reaching an intraday high of 1,589.11 and dropping to a low of 1,583.07.

Overall market breadth was negative with 419 gainers outnumbered by 589 losers, and 444 counters were unchanged.

Some 3.83 billion shares worth RM2.37 billion were traded on Tuesday compared to Monday’s 3.88 billion shares worth RM2.46 billion.

Rakuten Trade head of equity sales Vincent Lau said the market is currently in a consolidation phase as investors are trading cautiously ahead of Friday’s budget announcement. 

“You could say that the market is somewhat listless, it is waiting for a strong catalyst to give it direction. We do not really see an underlying theme in the markets for this week,” he said.

He added that regional developments relating to Covid-19 case spikes in Singapore and China are priced in and unlikely to present themselves as a shock to the markets. Lau also noted that the world is progressively reopening itself back to pre-pandemic activity, especially in Malaysia where the usual footfall has returned after a 1.5-year lockdown.

On what sectors to focus on for the Budget, Lau suggested that the construction sector will likely benefit from the expansionary nature of the budget, along with the telecommunications sector through the deployment of 5G networks through JENDELA next year. 

Besides that, he also suggested that technology, renewable energy and electric vehicle-related companies will likely do well despite the Budget announcement but government incentives will increase their upside.

On the technical reading, Lau said the resistance for the benchmark index is still at 1,600 points while the support is at 1,580 so any movements in the short term will depend on whether the index constituents can benefit from the budget.

The top value gainers on Tuesday were Genetec Technology Bhd, Khind Holdings Bhd, and Nestle (Malaysia) Bhd, while the top value losers were PMB Technology Bhd, Petronas Dagangan Bhd, and Kuala Lumpur Kepong Bhd. The most actively traded stock was Key Alliance Group Bhd with 206.58 million shares changing hands.

Elsewhere in the region, Singapore’s Straits Times Index gained 0.08%, Hong Kong’s Hang Seng Index declined 0.36%, while Japan’s Nikkei 225 gained 1.77%. 

 

Source: The Edge

Market Daily Report: Investors on sidelines, awaiting National Budget announcement on Oct 29

 

KUALA LUMPUR (Oct 25): The FBM KLCI closed slightly lower on Monday as investors are awaiting the Budget 2022 announcement on Friday (Oct 29).

The benchmark index closed 0.14 points lower at 1,587.94 despite reaching an intraday high of 1,593.37 and dipping to a low of 1,586.77.

Market breadth was negative with 567 losers outnumbering 455 gainers, while 441 counters were unchanged.

Trading volume remained low at 3.88 billion shares worth RM2.46 billion.

“All eyes are on the Budget 2022 announcement this week. We expect (Bursa Malaysia) to trade sideways in a tight range, the ongoing global market developments such as global supply chain bottleneck, spike in energy commodities prices and the Evergrande default are well contained and mostly priced in. It is unlikely to have any wild swings unless a black swan event happens,” said HLIB Research head of retail research Ng Jun Sheng said.

“Market consensus is that the budget will be moderately expansionary and likely to focus on being 'rakyat-friendly', spurring economic recovery and growth, pushing for reforms. The recent highs in crude oil and CPO prices will likely contribute to the government budget especially from Petronas and major plantation players,” he added.

Besides that, Ng commented that the consensus view is that there should not be any surprises in new taxes like the capital gains tax that was mooted before. However, he noted that the government might raise sin tax on breweries and tobacco companies but they will have to balance it with the possibility of increased illicit trade for those products.

Ng also said global developments, such as the inflation, the timing and quantum of bond tapering in the US as well as the OPEC meeting scheduled in November are events to look out for in the near term despite the domestic market’s focus on the Budget 2022 announcement this week.

On the technical reading, Ng said the weekly resistance for the benchmark index is at 1,600-1,650 points while the weekly support is around 1,567-1,573.

The top value gainers on Monday were Chin Hin Group Bhd, Hong Leong Capital Bhd, and Petronas Dagangan Bhd, while the top value losers were Malaysian Pacific Industries Bhd, Nestle Malaysia Bhd, and PMB Technology Bhd. Dagang NeXchange Bhd was the most actively traded stock with 156.3 million shares traded.

Elsewhere in the region, Singapore’s Straits Times Index declined 0.11%, Hong Kong’s Hang Seng Index gained 0.02%, Japan’s Nikkei 225 declined 0.71%. 

 

Source: The Edge

Market Daily Report: KLCI finishes down as world markets take cues from lower commodity prices

 

KUALA LUMPUR (Oct 22): The FBM KLCI closed down 3.54 points or 0.22% at 1,588.08 on Friday (Oct 22) on profit-taking after rising in recent days ahead of Malaysia's Budget 2022 announcement on Oct 29, 2021.

On Friday, the KLCI closed down as investors also took cues from prices of commodities including crude oil which fell in tandem with lower prices of coal after China indicated it would curb rising prices of coal to support electricity producers amid a widespread power-supply crunch.

Speaking to theedgemarkets.com, UOB Kay Hian Securities (M) Sdn Bhd head of retail research Desmond Chong said: "Overall market breadth continued to be negative and in profit-taking mode after a decent albeit premature run ahead of the Budget 2022 announcement."

"(Across Bursa Malaysia) healthy correction was observed across the banking, plantation, construction and property (sectors). With the lack of rerating catalysts especially on the heavyweight KLCI component stocks, we expect the KLCI to remain sideways.

"Beyond here, we believe the economic reopening theme could continue to gain traction following the rotational switch towards value stocks (from growth stocks)."

On the technical side, Chong said the KLCI's immediate support level is seen at 1,582.

He said should the index fail to hold above its immediate support level of 1,582, further downside could be seen at between 1,560 and 1,582.

Across Bursa, 3.07 billion securities worth about RM2.18 billion were traded on Friday as 597 decliners outnumbered 410 gainers.

Top decliners included ViTrox Corp Bhd and Press Metal Aluminium Holdings Bhd.

The most actively-traded counter was Serba Dinamik Holdings Bhd which saw 105.18 million shares changing hands after its share price settled down two sen or 5.41% at 35 sen at Bursa's 12.30pm break.

Bursa said in a statement on Friday the bourse regulator "has resolved" to suspend the trading of Serba Dinamik securities including all structured warrants relating to the company from 2.30pm on Friday until further notice in the interest of maintaining an orderly and fair market in the trading of Serba Dinamik securities.

On the upcoming Budget 2022 announcement, Chong said UOB Kay Hian expects the Budget to be "modestly expansionary" and "market-neutral".

He said UOB Kay Hian believes emphasis could be placed on, among others, building resilience within the B40 income group besides incentives for the tourism sector.  

Globally, markets took cues from prices of commodities including crude oil which fell in tandem with lower prices of coal after China indicated it will curb rising prices of coal to support electricity producers amid a widespread power-supply crunch.

It was reported that crude oil prices hit multi-year highs earlier in the week on concerns about global coal and gas shortages which spurred fuel-switching to diesel and fuel oil for electricity generation.

Aluminium prices also fell on Friday. "Shanghai aluminium prices hit their limit down on Friday to their lowest in over a month as tumbling Chinese coal prices eased concerns of disruptions to metal supplies and forced selling in some commodities,” Reuters reported.

 

Source: The Edge

Market Daily Report: KLCI retraces gains on profit-taking, news of US crackdown on Supermax

 

KUALA LUMPUR (Oct 21): The FBM KLCI on Thursday retraced gains over the last three sessions on profit taking, with investor sentiment also hit by news of the US crackdown on glove maker Supermax Corp Bhd.

The benchmark index closed 14.7 points or 0.92% lower at 1,591.62, after moving between 1,590.34 and 1,608.92.

Rakuten Trade head of equity sales Vincent Lau said the market is likely to remain in a profit-taking mood ahead of the Budget 2022 announcement on Oct 29. 

He added that sentiment on glove counters such as Supermax and Top Glove Corporation Bhd has taken a beating as Supermax products were seized by the US Customs and Border Protection for allegedly using forced labour in manufacturing operations. 

Lau said banking and construction counters are going through a healthy pullback after rallying from their monthly lows over the last few trading sessions, but does not rule out a possible pre-Budget rally on expectations of an expansionary budget as the government seeks to boost economic recovery.

On the broader market, 3.85 billion shares worth RM3.46 billion were traded, compared with 4.3 billion shares worth RM3.11 billion on Wednesday. 

Market breadth continued to be negative as 771 decliners outnumbered 329 gainers with 415 counters unchanged.

The top gainers by value were Malaysian Pacific Industries Bhd, SKB Shutters Corporation Bhd and Nestle (Malaysia) Bhd, while the top losers were Hong Leong Financial Group Bhd, PMB Technology Bhd and Seni Jaya Corporation Bhd.

The day’s most actively-traded counter was Kanger International Bhd, which saw some 130.86 million shares traded.

 

Source: The Edge

Market Daily Report: KLCI extends gains on more foreign fund inflows

 

KUALA LUMPUR (Oct 20): The FBM KLCI continued trending upwards to close above its previous month's high of 1,604.95, buoyed by elevated crude oil and FCPO prices as well as continued buying interest in constituents such as Top Glove Corp Bhd, CIMB Group Holdings Bhd, and Public Bank Bhd.

At 5pm, the benchmark index gained 0.35 point or 0.02% to close at 1,606.32, after opening higher at 1,611.83 before dipping to an intraday low of 1,601.31.

The local bourse saw a total of 4.3 billion shares worth RM3.11 billion traded on Wednesday compared with 4.61 billion shares worth RM2.91 billion on Monday.

Market breadth was negative as 511 gainers were outnumbered by 616 decliners with 450 counters unchanged.

Areca Capital chief executive officer Danny Wong said that overall, the market was largely unchanged with buying interest in select banks, industrials and electrical & electronics counters. He noted that globally, the market is waiting for the US labour statistics and PMI figures this week while domestically, the market is looking out for the Budget 2022 announcement next week.

In a note, Hong Leong Investment Bank analyst Ng Jun Sheng said that the benchmark index saw net selling from local institutions and retail investors of RM216 million and RM22 million respectively while foreign fund flows saw net buying of RM238 million on Monday.

"On the backdrop of higher Wall Street, the economic recovery optimism following the relaxation on interstate travel and reopening of international borders coupled with the elevated commodity prices, KLCI finally breached the previous high of 1,605 (Sept 1) to end at 1,606 on Oct 18. In the wake of the steeply overbought stochastic readings after a sharp 91-pt rally from a low of 1,515 (Oct 5), the benchmark may start to consolidate its gains in the near term. Although it is too early to call for a top here, we think further upside may be capped at 1,614-1,623 zone. Key pullback supports are pegged at 1,574-1,590 territory," wrote Ng.

He added that with most states going into Phases 3 and 4 of the National Recovery Plan and the about 93% adult vaccination rate as of Oct 18 on the back of the strengthening commodity prices, it will see the KLCI progress further.

The top gainers by value were Genetec Technology Bhd, Malaysian Pacific Industries Bhd and DKSH Holdings (Malaysia) Bhd, while the top losers were PMB Technology Bhd, Nestle (Malaysia) Bhd and Carlsberg Brewery Malaysia Bhd. The most actively traded stock on Wednesday was Daya Materials Bhd, which saw 126.09 million shares change hands following Bursa's approval of its regularisation plan.

Regionally, Japan's Nikkei 225 rose 0.14%, Hong Kong's Hang Seng Index gained 1.35% while South Korea's Kospi declined 0.53%.

 

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends higher

 

KUALA LUMPUR (Oct 18): Bursa Malaysia finished higher on continued buying interest in selected heavyweights led by CIMB Group Holdings Bhd, Hartalega Holdings Bhd and Public Bank Bhd.

CIMB bagged 15 sen to RM5.30, Hartalega jumped 18 sen to RM6.20 and Public Bank rose three sen to RM4.23. Gains in these three counters lifted the FTSE Bursa Malaysia KLCI (FBM KLCI) by a total of 4.853 points. 

At 5pm, the benchmark index was 7.69 points firmer at 1,605.97.

The FBM KLCI, which opened 4.61 points higher at 1,602.89, fluctuated between 1,602.71 and 1,609.62 throughout the day.

Market breadth was positive with gainers leading losers 573 to 495, while 450 counters were unchanged, 771 untraded and 17 others suspended.

Turnover fell to 4.61 billion units worth RM2.91 billion from 4.96 billion units worth RM3 billion last Friday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said that overall, the market would be good in the short to medium term due to positive investor sentiment.

“We are positive on the oil and gas sector given the high oil prices as well as gaming stocks.

“Although there may be some profit taking, we still think buying momentum is strong,” he told Bernama.

Hence, he said, the FBM KLCI was expected to hover between 1,600 and 1,615 for the week.

At the time of writing, global benchmark Brent crude stood at US$85.33 per barrel, up 0.55%.

Of the heavyweights, Malayan Banking Bhd was three sen higher at RM8.31 while Petronas Chemicals Group Bhd was flat at RM8.75 and IHH Healthcare Bhd eased six sen to RM6.66.

Among the actives, Macpie Bhd added 2.5 sen to 13 sen, Joe Holding Bhd was flat at 4.5 sen, and Tiger Synergy Bhd gained half-a-sen to 4.5 sen.

Top gainers were Aeon Credit Service (M) Bhd, which increased 48 sen to RM13.58; Genetec Technology Bhd, which rose 38 sen to RM45.38; and Keck Seng (Malaysia) Bhd, which climbed 36 sen to RM3.85.

On the index board, the FBM Emas Index went up 45.5 points to 11,814.37, the FBMT 100 Index added 47.54 points to 11,454.28, the FBM Emas Shariah Index increased 16.64 points to 12,893.65, the FBM 70 climbed 35.72 points to 15,480.28, and the FBM ACE gained 55.4 points to 7,241.71.

Sector-wise, the Financial Services Index improved 139.83 points to 15,845.29 and the Industrial Products and Services Index inched up 0.47 of-a-point to 213.41, but the Plantation Index fell 1.74 points to 7,038.3.

The Main Market volume went up to 2.92 billion shares worth RM2.48 billion compared with 2.86 billion shares worth RM2.57 billion on Friday.

Warrants turnover decreased to 456.2 million units valued at RM54 million against 463.32 million units valued at RM64.75 million previously.

The volume on the ACE Market narrowed to 1.24 billion shares worth RM373.46 million from 1.63 billion shares worth RM365.7 million on Friday.

Consumer products and services counters accounted for 415.49 million shares traded on the Main Market, industrial products and services (965.87 million), construction (172.1 million), technology (281.11 million), SPAC (nil), financial services (78.47 million), property (422.37 million), plantation (31.49 million), REITs (10.64 million), closed/fund (68,400), energy (404.08 million), healthcare (39.15 million), telecommunications and media (17.82 million), transportation and logistics (63.59 million), and utilities (13.32 million).

Bursa Malaysia and its subsidiaries will be closed on Tuesday (Oct 19, 2021) for the Prophet Muhammad’s birthday celebration.

 

Source: The Edge

Market Daily Report: Gains in almost all sectors boost Bursa Malaysia to end higher

 

KUALA LUMPUR (Oct 15): Steady gains almost across the board, particularly in the banking sector, boosted Bursa Malaysia to end higher on the last trading day of the week.

The bullish showing was in sync with the upbeat performance of regional markets following positive cues from Wall Street overnight.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 5.76 points to 1,598.28 from 1,592.52 at Thursday’s close.

The market bellwether opened 2.65 points firmer at 1,595.17 and moved between 1,592.67 and 1,599.76 throughout the day.

Market breadth was positive with gainers leading losers 628 to 418, while 464 counters were unchanged, 779 untraded, and 17 others suspended.

Turnover widened to 4.96 billion units worth RM3 billion from 4.17 billion units worth RM2.85 billion on Thursday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said investors were optimistic on US corporate earnings and better-than-expected labour data.

The US Labour Department said the number of claims for unemployment benefits dropped to below 300,000 for the first time in over a year last week.

The weekly jobless claims of 293,000 last week was the lowest since March 2020, bolstering the US stock markets.

Meanwhile, global benchmark Brent crude is trading near US$85 per barrel level, amid signs of increasing demand and tight supply. 

The International Energy Agency said natural gas shortages are boosting demand for crude oil.

At home, the market undertone remained steady due to positive investor sentiment.

“We reckon that the index will stay positive going forward as foreign funds continue to return,” he told Bernama.

Of the heavyweights, Axiata Group Bhd and RHB Bank Bhd edged up nine sen to RM4.10 and RM5.75 respectively, MISC Bhd was 11 sen higher at RM7.26, Genting Malaysia Bhd expanded five sen to RM3.21, and Sime Darby Bhd rose four sen to RM2.35.

Hartalega Holdings Bhd lost 20 sen to RM6.02 and Top Glove Corp Bhd slipped three sen to RM2.76.

Among the actives, Kanger International Bhd, Jadi Imaging Holdings Bhd, and Serba Dinamik Holdings Bhd eased half-a-sen each to five sen, 12 sen, and 38 sen respectively.

Hibiscus Petroleum Bhd added three sen to 94.5 sen and Brahim's Holdings Bhd lost 22 sen to 24 sen.

On the index board, the FBM Emas Index went up 58.71 points to 11,768.87, the FBMT 100 Index rose 56.08 points to 11,406.74.94, the FBM Emas Shariah Index increased 68.42 points to 12,877.01, the FBM 70 climbed 134.49 points to 15,444.56, and the FBM ACE gained 24.95 points to 7,186.31.

Sector-wise, the Financial Services Index put on 49.53 points to 15,705.46, the Industrial Products and Services Index inched up 0.78 of-a-point to 212.94, and the Plantation Index bagged 43.19 points to 7,040.04.

The Main Market volume, however, narrowed to 2.86 billion shares worth RM2.57 billion compared with 2.94 billion shares worth RM2.47 billion on Thursday.

Warrants turnover surged to 463.32 million units valued at RM64.75 million against 198 million units valued at RM18.84 million on Thursday.

The volume on the ACE Market swelled to 1.63 billion shares worth RM365.7 million from 938.35 million shares worth RM284.93 million previously.

Consumer products and services counters accounted for 730.75 million shares traded on the Main Market, industrial products and services (704.8 million), construction (135.96 million), technology (297.41 million), SPAC (nil), financial services (52.28 million), property (251.92 million), plantation (34.85 million), REITs (10.91 million), closed/fund (34,300), energy (473.2 million), healthcare (48.06 million), telecommunications and media (26.71 million), transportation and logistics (79.6 million), and utilities (11.94 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends lower on profit taking

 

KUALA LUMPUR (Oct 14): Bursa Malaysia closed lower on Thursday, with its key index declining 0.49% due to profit-taking activities after seven days of gains.

The market was dragged down mainly by banking, plantation, and oil and gas heavyweights, said Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) shrank 7.86 points to 1,592.52 from 1,600.38 at Wednesday’s closing.

The bellwether index opened 1.28 points firmer at 1,601.66 — its highest level for the day — and fell as low as 1,588.63 during Thursday’s trading.

Market breadth was negative with losers leading gainers 531 to 453, while 444 counters were unchanged, 864 untraded and 17 others suspended.

Turnover decreased to 4.17 billion units worth RM2.85 billion from 4.49 billion units worth RM3.34 billion on Wednesday.

Thong said crude palm oil (CPO), meanwhile, continued to defy consensus forecasts as it was settling at above RM5,000 per tonne.

“We believe this will still offer upsides for plantation stocks, hence buying opportunities.

“Supported by strong market volume, foreign buying and improving corporate earnings following the reopening of economy, we believe the index will continue with its ascension and expect the index to chart around the 1,595-1,605 range towards the weekend,” he told Bernama.

Of the heavyweights, Malayan Banking Bhd slipped one sen to RM8.28 and Public Bank Bhd was flat at RM4.19, while Petronas Chemicals Group Bhd rose one sen to RM8.76 and IHH Healthcare Bhd increased two sen to RM6.76.

Among the actives, Serba Dinamik Holdings Bhd fell 2.5 sen to 38.5 sen, Kanger International Bhd eased half-a-sen to 5.5 sen, and Hiap Teck Venture Bhd bagged four sen to 66 sen.

Of the top losers, PMB Technology Bhd erased 44 sen to RM14.06, Petronas Dagangan Bhd dropped 40 sen to RM19.60, and Opcom Holdings Bhd decreased 35 sen to RM1.32.

On the index board, the FBM Emas Index erased 31.75 points to 11,710.16, the FBMT 100 Index went down 37.83 points to 11,350.66, the FBM Emas Shariah Index decreased 22.26 points to 12,808.59, the FBM 70 improved 19.96 points to 15,310.07, and the FBM ACE slipped 36.99 points to 7,161.36.

Sector-wise, the Financial Services Index trimmed 61.57 points to 15,655.93, the Industrial Products and Services Index bagged 0.49 of-a-point to 212.16, and the Plantation Index dropped 101.22 points to 6,996.85.

The Main Market volume narrowed to 2.94 billion shares worth RM2.47 billion compared with 3.3 billion shares worth RM3.03 billion on Wednesday.

Warrants turnover fell to 198 million units valued at RM18.84 million against 238.27 million units worth RM17.53 million on Wednesday.

The volume on the ACE Market rose to 1.02 billion shares worth RM356.01 million from 938.35 million shares worth RM284.93 million previously.

Consumer products and services counters accounted for 579.81 million shares traded on the Main Market, industrial products and services (931.02 million), construction (103.44 million), technology (353.78 million), SPAC (nil), financial services (63.08 million), property (24.57 million), plantation (41.08 million), REITs (9.22 million), closed/fund (27,300), energy (470.23 million), healthcare (46.4 million), telecommunications and media (23.45 million), transportation and logistics (63.77 million), and utilities (12.48 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia breaches 1,600 level

 

KUALA LUMPUR (Oct 13): Bursa Malaysia on Wednesday broke through the 1,600 psychological level, accumulating gains of 5% during its seven-day rally. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 1% or 16.47 points to 1,600.38 from 1,583.91 at Tuesday’s close.

The bellwether index opened 1.04 points lower at 1,582.87.

Market breadth was positive as gainers outnumbered losers 577 to 460, while 413 counters were unchanged, 829 untraded and 18 others suspended.

Turnover, however, decreased to 4.49 billion units worth RM3.34 billion from 5.19 billion units worth RM3.55 billion on Tuesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said foreign buying continued to anchor the uptrend as sentiment remained positive amid the reopening of travel borders and increasing economic activities.

The rise in the benchmark index was mainly supported by banking heavyweights.

“Though a correction is anticipated, we believe the intermittent profit-taking activities will soften the impact.

“We reckon the index to hover within the 1,595-1,605 range for the remaining of the week. From the technical point of view, we see immediate resistance at 1,620 while immediate support is at 1,550,” he told Bernama.

Regional equity markets were mostly ended in the green. The oil market fell amid concerns over demand growth but Brent crude remained above US$83 per barrel.

Among the heavyweights, Malayan Banking Bhd rose six sen to RM8.29, MISC Bhd was 21 sen higher at RM7.11, Public Bank Bhd increased three sen to RM4.19, Hartalega Holdings Bhd advanced 10 sen to RM6.07, RHB Bank Bhd added 17 sen to RM5.72, and Sime Darby Bhd expanded nine sen to RM2.37.

Meanwhile, Axiata Group Bhd and Petronas Chemicals Group Bhd were flat at RM4.10 and RM8.75, respectively, while Top Glove Corp Bhd lost four sen to RM2.79 and Petronas Gas Bhd slipped eight sen to RM17. 

As for the active counters, Serba Dinamik Holdings Bhd dropped half-a-sen to 41 sen, Sarawak Consolidated Industries Bhd eased one sen to 49.5 sen, MY EG Services Bhd inched up five sen to RM1.07, and Brahim's Holdings Bhd was one sen better at 52.5 sen.

On the index board, the FBM Emas Index was higher by 89.26 points at 11,741.91, the FBMT 100 Index edged up 95.38 points to 11,388.49, the FBM Emas Shariah Index increased 82.54 points to 12,830.85, the FBM 70 improved 42.6 points to 15,290.11, and the FBM ACE rose 8.17 points to 7,198.35.

Sector-wise, the Financial Services Index added 174.7 points to 15,717.5, the Industrial Products and Services Index bagged 0.66 of-a-point to 211.67, and the Plantation Index went up 93.96 points to 7,098.07.

The Main Market volume narrowed to 3.3 billion shares worth RM3.03 billion compared with 3.59 billion shares worth RM3.14 billion on Tuesday.

Warrants turnover fell to 238.27 million units worth RM17.53 million against 406.1 million units worth RM50.59 million.

The volume on the ACE Market eased to 938.35 million shares worth RM284.93 million from 1.19 billion shares worth RM355.41 million previously.

Consumer products and services counters accounted for 664.55 million shares traded on the Main Market, industrial products and services (1.03 billion), construction (225.19 million), technology (299.73 million), SPAC (nil), financial services (78.37 million), property (224 million), plantation (57.88 million), REITs (8.69 million), closed/fund (53,200), energy (468.23 million), healthcare (65.24 million), telecommunications and media (31.76 million), transportation and logistics (133.9 million), and utilities (21.21 million).

 

Source: The Edge

Market Daily Report: Banks, telcos push FBM KLCI above 1,580 level

 

KUALA LUMPUR (Oct 12): Bursa Malaysia’s barometer index ended the day above the 1,580 level, thanks to gains in bank as well as telecommunication counters, positioning it to test the psychological 1,600 resistance soon.

The FTSE Bursa Malaysia KLCI (FBM KLCI) ended at its intra-day high of 1,583.91, by adding 13.09 points compared with 1,570.82 at Monday’s close.

The bellwether index opened 1.52 points better at 1,572.34.

Market breadth was positive as gainers outnumbered decliners 548 to 517, while 456 counters were unchanged, 750 untraded and six others suspended.

Turnover, however, decreased to 5.19 billion units worth RM3.55 billion from 6.9 billion units worth RM3.87 billion on Monday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the local market performed better than expected due to strong support from foreign funds.

Additionally, the Brent crude oil price inched closer to US$85 per barrel with a short-term target of around US$90 per barrel.

“This shall attract buying interest on oil and gas stocks. Though we may see some intermittent profit-taking, we expect the local bourse to preserve its bullish phase over the short to medium term,” he told Bernama.

Thong said sentiments are turning more positive while market valuation remains at attractive levels.

On the passing of the Windfall Profit Levy (Amendment) Bill 2020, he said the move to tax unexpected gains is not expected to affect glove counters, which have been recording ultra profits since the spread of Covid-19.  

“Profits for glove companies will be much lower next year. So, I don’t think they will impose any levy on them,” he told Bernama.

Top Glove Corp Bhd’s net profit jumped 349% to RM7.87 billion in the financial year 2021 (FY21) from RM1.75 billion in the same period a year earlier. 

Revenue for the year also surged by 127% to RM16.4 billion from RM7.24 billion in FY20.

However, its net profit has declined about 48% to RM607.95 million in the fourth quarter of FY21 (4QFY21) as the rollout of vaccinations worldwide dampened demand for gloves.

Gloves average selling prices (ASPs) are also trending downwards due to increasing global production.

Meanwhile, Hartalega Holdings Bhd’s 1QFY22 net profit soared 928.4% year-on-year to RM2.26 billion from RM219.7 million.

Thong said the move could possibly affect plantation counters, which currently saw crude palm oil (CPO) prices trading near record levels. 

CPO futures hit RM5,000 per tonne for the first time last week amid concerns over tight edible oil supplies and bullish demand ahead of the Deepavali festival celebration.

At the close, Top Glove and Hartalega were in positive territory after recent downtrends.

Heavyweights CIMB Group Holdings Bhd gained 11 sen to RM5.11, Telekom Malaysia Bhd was 28 sen stronger at RM5.96, Public Bank Bhd expanded five sen to RM4.16, Axiata Group Bhd was 10 sen higher at RM4.10 and Hartalega jumped 25 sen to RM5.97.

Malayan Banking Bhd and Digi.Com Bhd rose seven sen to RM8.23 and RM4.35 respectively, while RHB Bank Bhd added 14 sen to RM5.55.

As for the active counters, Sapura Energy Bhd and KNM Group Bhd were flat at 10.5 sen and 23 sen respectively, while AYS Ventures Bhd improved 12.5 sen to 87 sen. 

On the index board, the FBM Emas Index was higher by 80.37 points at 11,652.65, the FBMT 100 Index edged up 79.14 points to 11,293.11, the FBM Emas Shariah Index added 62.02 points to 12,748.31 and the FBM 70 was 51.48 points better at 15,247.51.

However, the FBM ACE declined 16.53 points to 7,190.18.

Sector-wise, the Financial Services Index soared 189.34 points to 15,542.8, the Industrial Products and Services Index bagged 0.24 of-a-point to 211.01, and the Plantation Index shed 39.30 points to 7,004.11.

The Main Market volume narrowed to 3.59 billion shares worth RM3.14 billion compared with 4.33 billion shares worth RM3.28 billion on Monday.

Warrants turnover slipped to 406.1 million units worth RM50.59 million against 415.43 million units worth RM61.55 million.

The volume on the ACE Market eased to 1.19 billion shares worth RM355.41 million from 2.15 billion shares worth RM533.57 million previously.

Consumer products and services counters accounted for 568.51 million shares traded on the Main Market, industrial products and services (1.31 billion), construction (149.57 million), technology (269.24 million), SPAC (nil), financial services (82.03 million), property (277.52 million), plantation (61.35 million), REITs (8.62 million), closed/fund (191,000), energy (645.66 million), healthcare (90.26 million), telecommunications and media (31.98 million), transportation and logistics (76.42 million), and utilities (14.88 million).

 

Source: The Edge

 

Market Daily Report: Bursa hits one-month high; surging oil prices, interstate resumption lift sentiment

 

KUALA LUMPUR (Oct 11): Surging oil prices, which have lifted energy index by 6.5%, and optimism over domestic economic recovery, saw Bursa Malaysia ending at a one-month high on Monday.

The FTSE Bursa Malaysia KLCI (FBM KLCI) gains for five days in a row, adding 6.92 points to 1,570.82 at 5pm on Monday, compared with 1,563.9 at Friday’s close.

The bellwether index opened 3.98 of-a-point better at 1,567.88 and fluctuated between 1,567.88 and 1,575.63 throughout the morning trading session.

On the broader market, gainers outpaced decliners 737 to 401, while 371 counters were unchanged, 749 untraded and six others suspended.

Turnover increased to 6.9 billion units worth RM3.87 billion from 4.99 billion units worth RM3.34 billion on Friday. 

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said buying support was seen particularly in oil and gas, bank and plantation counters.

“We reckon the full opening of interstate travel within the country is one of the contributing factors to the positive investor sentiment.

“Investors are also bullish on oil and gas, as well as plantation stocks, given the strong crude oil and crude palm oil prices,” he told Bernama.

Leng said Rakuten Trade anticipates the index to trend around the 1,560-1,580 range for the week.

“From a technical point of view, we will see immediate resistance at 1,580 followed by the psychological resistance at around 1,600 while immediate support is at 1,550,” he noted.

Regionally, the markets exhibit a mixed trend following fresh worries that the US Federal Reserve may begin tapering as early as November.

These worries emerged after US job growth fell to the slowest pace of the year in September amid Covid-19. 

The world’s largest economy created 194,000 jobs last month, down from 366,000 jobs added in August.

At home, Petronas Chemicals Group Bhd continued to lead heavyweights, gaining seven sen to RM8.75, while Malayan Banking Bhd advanced 11 sen to RM8.16, Press Metal Aluminium Holdings Bhd rose four sen to RM6.13, and IHH Healthcare Bhd inched up five sen to RM6.68.

CIMB Group Holdings Bhd increased 10 sen to RM5, Public Bank Bhd was three sen higher at RM4.11 and Genting Malaysia Bhd edged up two sen to RM3.15.

As for active counters, Serba Dinamik Holdings Bhd added four sen to 40.5 sen, Borneo Oil Bhd remained flat at three sen, Kanger International Bhd improved half-a-sen to 6.5 sen, AirAsia Group Bhd jumped nine sen to RM1.28, while MMAG Holdings Bhd eased half-a-sen to 10 sen.

On the index board, the FBM Emas Index perked up 70.52 points to 11,572.28, the FBMT 100 Index rose 55.8 points to 11,213.97, the FBM Emas Shariah Index picked up 46.6 points to 12,686.29, the FBM 70 climbed 100.61 points to 15,196.03, and the FBM ACE added 66.29 points to 7,206.71.

Sector-wise, the Financial Services Index firmed 140.9 points to 15,353.46, the Industrial Products and Services Index bagged 1.31 points to 210.77, and the Plantation increased 78.38 points to 7,043.41.

The Main Market volume widened to 4.33 billion shares worth RM3.28 billion compared with 3.27 billion shares worth RM2.71 billion on Friday.

Warrants turnover slipped to 415.43 million units worth RM61.55 million against 448.28 million units worth RM67.58 million.

The volume on the ACE Market expanded to 2.15 billion shares worth RM533.57 million from 1.28 billion shares worth RM561.33 million previously.

Consumer products and services counters accounted for 830.8 million shares traded on the Main Market, industrial products and services (1.09 billion), construction (156.72 million), technology (396.53 million), SPAC (nil), financial services (81.26 million), property (295.49 million), plantation (82.63 million), REITs (12.61 million), closed/fund (166,200), energy (1.15 billion), healthcare (43.69 million), telecommunications and media (26.65 million), transportation and logistics (149.78 million), and utilities (14.46 million).

 

Source: The Edge

Market Daily Report: KLCI extends winning streak on positive sentiment

 

KUALA LUMPUR (Oct 8): Bursa Malaysia extended its winning streak for the fourth day on Friday as positive market sentiment on strong commodity prices and growing optimism over economic recovery lifted the risk appetite for equities and riskier assets, dealers said.

The FBM KLCI ended 2.61 points firmer at 1,563.90 compared with 1,561.29 at Thursday’s close.

The bellwether index, which opened 0.86 of a point better at 1,562.15, fluctuated between 1,558.56 and 1,567.30 throughout the day.

Press Metal Aluminium Holdings Bhd was the biggest winner among the index-linked counters with a 3.22% jump and contributed a substantial 2.754 points to the composite index.

The aluminium smelter’s share soared 19 sen to RM6.09, with 8.16 million shares changing hands, on anticipation that the company might benefit from expected higher global aluminium prices and a hike in smelting capacity following an expansion in the Samalaju project.

On the broader market, gainers led decliners 610 to 452, while 439 counters were unchanged, 768 untraded and 26 others suspended.

Turnover increased to 4.99 billion units worth RM3.34 billion from 4.09 billion units valued at RM2.98 billion on Thursday. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI had surpassed its 1,550 resistance level and the uptrend would likely continue towards the next resistance level of 1,580, followed by the psychological level of 1,600.

“Sentiment in the market was getting better [on firmer commodity prices], plus the rally in regional markets also created better investor sentiment,” he told Bernama, adding that immediate support is located at 1,550, followed by 1,530.

Thong said plantation stocks would remain favourites for time being given the high crude palm oil (CPO) prices.

“Most analysts have not upgraded their CPO forecasts and current CPO prices are much higher than the analysts’ estimates. Therefore, the chances of plantation companies beating analyst forecasts are very high. That is why investors are taking their position to buy now even though analysts have not upgraded them (their stock ratings),” he explained.

The price of CPO futures was expected to set another new high on Friday, with the benchmark palm oil contract for December 2021 trading at RM4,937 per tonne, compared with RM4,872 per tonne recorded at Wednesday’s close. 

Among the heavyweights, Malayan Banking Bhd (Maybank), Public Bank Bhd, Petronas Chemicals Group Bhd (PetChem) and IHH Healthcare Bhd were flat at RM8.05, RM4.08, RM8.68 and RM6.63 respectively, while Tenaga Nasional Bhd (TNB) shed two sen to RM9.71 and CIMB Group Holdings Bhd gained four sen to RM4.90.

Of the actives, SC Estate Builder Bhd trimmed five sen to 11.5 sen, Freight Management Holdings Bhd increased 20 sen to RM1.06, Opcom Holdings Bhd increased 16 sen to RM1.62 and CEKD Bhd advanced 18 sen to 80 sen.

On the index board, the FBM Emas Index was 28.54 points higher at 11,501.76, the FBMT 100 Index gained 27.25 points to 11,158.17, the FBM Emas Shariah Index picked up 31.5 points to 12,639.69, the FBM 70 soared 70.57 points to 15,095.42 and the FBM ACE picked up 3.32 points to 7,140.42.  

Sector-wise, the Financial Services Index increased 13.22 points to 15,212.56. The Industrial Products and Services Index added 1.81 points to 209.46, while the Plantation Index bagged 4.14 points to 6,965.03.

Main Market volume increased to 3.27 billion shares worth RM2.71 billion, compared with 2.63 billion shares valued at RM2.55 billion on Thursday.

Warrant turnover slipped to 448.28 million units worth RM67.58 million against 489.5 million units valued at RM76.37 million the day before.

ACE Market volume expanded to 1.28 billion shares worth RM561.33 million from 964.77 million shares worth RM263.87 million previously.

Consumer products and services counters accounted for 623.71 million shares traded on the Main Market, followed by industrial products and services (835.38 million), construction (11.57 million), technology (280.31 million), SPAC (nil), financial services (53.15 million), property (195.86 million), plantation (51.67 million), real estate investment trust (6.3 million), closed/fund (74,700), energy (553.47 million), healthcare (68.13 million), telecommunications and media (30.83 million), transportation and logistics (446.16 million), and utilities (13.05 million).

 

Source: The Edge

Market Daily Report: KLCI ends at day's high for third consecutive day

 

KUALA LUMPUR (Oct 7): Bursa Malaysia’s benchmark index closed at its intraday high for the third consecutive day, spurred by buying of selected heavyweights, led by Dialog Group Bhd and small-capitalisation stocks.

After a roller-coaster trading session, the FBM KLCI ended 1.87 points firmer at 1,561.29 against 1,559.42 at Wednesday’s close.

The index, which opened 1.18 points easier at 1,558.24, rebounded after hitting an intraday low of 1,551.98 in early trade.

The overall market breadth was positive with gainers trouncing losers 601 to 432, while 431 counters were unchanged, 805 untraded and 27 others suspended.

Turnover fell to 4.09 billion units valued at RM2.98 billion from 4.54 billion units worth RM3.44 billion on Wednesday. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key index went through a bumpy session after the midday break but managed to finish strong with gainers led by Dialog and Kuala Lumpur Kepong Bhd (KLK).

Dialog increased 21 sen to RM2.90, while KLK soared 40 sen to RM22.30. Both stocks contributed a combined 2.895 points to the rise in the composite index.

Thong said key regional markets also ended higher following an overnight rally on Wall Street.

“Investor sentiment turned positive after reports that Washington and Beijing had agreed to hold a virtual meeting before year end.

“We prefer to remain cautious as profit-taking activities may emerge as regional volatility could play a part. Thus, we expect the index to trend around the 1,550-1,565 range towards the weekend,” he told Bernama.

 Among the heavyweights, Public Bank Bhd gained two sen to RM4.08, IHH Healthcare Bhd added one sen to RM6.63 and CIMB Group Holdings Bhd bagged four sen to RM4.86, while Malayan Banking Bhd (Maybank) shed three sen to RM8.05, Petronas Chemicals Group Bhd (PetChem) erased 1.5 sen to RM8.68 and Tenaga Nasional Bhd (TNB) slipped one sen to RM9.73.

Of the actives, SC Estate Builder Bhd picked up 4.5 sen to 16.5 sen, KNM Group Bhd lost two sen to 22 sen, Nextgreen Global Bhd increased 11 sen to 91.5 sen, SYF Resources Bhd fell 8.5 sen to 34 sen and Opcom Holdings Bhd improved 13 sen to RM1.46.

On the index board, the FBM Emas Index advanced 18.77 points to 11,473.22, the FBMT 100 Index gained 8.34 points to 11,130.92, the FBM Emas Shariah Index garnered 25.28 points to 12,608.19 and the FBM ACE increased 65.02 points to 7,137.1.

The FBM 70, however, declined 8.4 points to 15,024.85.

Sector-wise, the Financial Services Index eased 5.33 points to 15,199.34, the Industrial Products and Services Index shed 0.53 of a point to 207.65, and the Plantation Index rose 43.66 points to 6,960.89.

Main Market volume decreased to 2.63 billion shares worth RM2.55 billion, compared with 2.99 billion shares worth RM3.07 billion on Wednesday.

Warrant turnover increased to 489.5 million units valued at RM76.37 million against 375.76 million units worth RM51.82 million on Wednesday.

ACE Market volume dropped to 964.77 million shares worth RM263.87 million from 1.17 billion shares worth RM321.37 million previously.

Consumer products and services counters accounted for 505.95 million shares traded on the Main Market, followed by industrial products and services (732.82 million), construction (142.75 million), technology (313.37 million), SPAC (nil), financial services (47.72 million), property (157.51 million), plantation (146.9 million), real estate investment trust (9.31 million), closed/fund (4,000), energy (393.37 million), healthcare (42.86 million), telecommunications and media (26.37 million), transportation and logistics (96.63 million), and utilities (11.95 million).

 

Source: The Edge

 

Market Daily Report: Plantation, oil and gas stocks lift Bursa higher, KLCI up almost 2%

 

KUALA LUMPUR (Oct 6): Persistent buying momentum for plantation and oil and gas stocks amid growing optimism about a global economic recovery pushed Bursa Malaysia to close on a firm note on Wednesday, with the benchmark index ending at almost a one-month high.

The benchmark FBM KLCI rose 29.0 points or 1.9% to end the day at the day’s high of 1,559.42, compared with 1,530.42 at Tuesday’s close.

The index, which opened 0.95 of a point firmer at 1,531.37, moved in positive territory throughout the day with its intraday low recorded at 1,531.13.

Gainers trounced decliners 612 to 433, while 582 counters were unchanged, 644 untraded and 12 others suspended.

Turnover surged to 4.54 billion units worth RM3.44 billion, compared with 3.97 billion units valued at RM2.69 billion on Tuesday. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI was mainly lifted by plantation and O&G heavyweights following firmer crude palm oil (CPO) and crude oil prices.

“The KLCI will see a strong resistance at 1,550, followed by 1,580. If it gets past the 1,550 level, the chances of it going higher would be bigger,” he told Bernama, adding that the support level remained at 1,520.

The benchmark CPO futures contract on Bursa Malaysia Derivatives reached RM5,000 per tonne for the first time on Tuesday and closed at an all-time high of RM4,738 a tonne, while crude oil prices stood at above the US$82 (about RM343.13)-per-barrel mark.

Among the index-linked plantation and O&G counters, Sime Darby Plantation Bhd soared 54 sen to RM4.20, IOI Corp Bhd increased 31 sen to RM4.08, Kuala Lumpur Kepong Bhd (KLK) surged RM1.72 to RM21.90, Dialog Group Bhd climbed 25 sen to RM2.69 and Petronas Chemicals Group Bhd (PetChem) garnered 14 sen to RM8.83.

As for other heavyweights, Malayan Banking Bhd (Maybank) rose seven sen to RM8.08, IHH Healthcare Bhd added two sen to RM6.62, Tenaga Nasional Bhd (TNB) went up 12 sen to RM9.74, CIMB Group Holdings Bhd bagged 10 sen to RM4.82 and Public Bank Bhd was flat at RM4.06.

Of the actives, SC Estate Builder Bhd gained three sen to 12 sen and Kanger International Bhd inched up half a sen to six sen, while AT Systematization Bhd and Sapura Energy Bhd were flat at 5.5 sen and 10 sen respectively.

On the index board, the FBM Emas Index rose 174.69 points to 11,454.44, the FBMT 100 Index climbed 175.55 points to 11,122.58, the FBM Emas Shariah Index jumped 245.96 points to 12,582.91, the FBM ACE advanced 60.81 points to 7,072.08 and the FBM 70 increased 115.06 points to 15,033.25.

Sector-wise, the Plantation Index added 512.99 points to 6,917.23, the Industrial Products and Services Index improved 3.14 points to 208.18, while the Financial Services Index strengthened 102.64 points to 15,204.67.

Main Market volume improved to 2.99 billion shares worth RM3.07 billion, compared with 2.78 billion shares worth RM2.36 billion on Tuesday.

Warrant turnover decreased to 375.76 million units worth RM51.82 million against 389.6 million units valued at RM66.68 million on Tuesday.

ACE Market volume surged to 1.17 billion shares worth RM321.37 million from 795.76 million shares worth RM263.87 million previously.

Consumer products and services counters accounted for 429.75 million shares traded on the Main Market, followed by industrial products and services (973.98 million), construction (83.28 million), technology (271.5 million), SPAC (nil), financial services (62.55 million), property (220.77 million), plantation (168.51 million), real estate investment trust (6.66 million), closed/fund (47,100), energy (597.53 million), healthcare (51.3 million),  telecommunications and media (34.5 million), transportation and logistics (77.99 million), and utilities (18.38 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends at intraday high on bargain hunting

 

KUALA LUMPUR (Oct 5): The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) on Bursa Malaysia ended at an intraday high on Tuesday, spurred by bargain hunting in selected heavyweights.

At 5pm, the key index rose 7.95 points to end the day at 1,530.42 from Monday’s close of 1,522.47.

The index, which opened 0.23 of-a-point lower at 1,522.24, moved to as low as 1,515.54 during the day.

MISC Bhd, Top Glove Corp Bhd, Dialog Group Bhd and Public Bank Bhd boosted the composite index by a combined 4.99 points.

Nonetheless, market breadth was slightly negative with losers outpacing gainers 515 to 469, while 465 counters were unchanged, 796 untraded, and eight others suspended.

Turnover increased marginally to 3.97 billion units valued at RM2.69 billion compared with 3.9 billion units worth RM2.79 billion on Monday. 

Rakuten Trade Sdn Bhd vice president of Equity Research Thong Pak Leng said bargain hunting was particularly seen in the oil and gas (O&G), banking and glove counters.

“The high crude oil price led to buying in the O&G counters, and banks are always a favourite when the market is up, while glove counters fell by quite a lot earlier, so people saw the opportunity for bottom fishing,” he told Bernama.

Meanwhile, Thong noted that key regional markets had ended broadly lower following the overnight losses on Wall Street amidst concerns over rising yields.

He said some investors were cautious as oil prices have surged to a three-year high of above US$81 per barrel, which could spark inflation.

“Nevertheless, we reckon this will provide buying catalysts for our O&G counters,” he said, adding that the accumulation of stocks is expected to persist on dips as the FBM KLCI seems to be quite well supported at between 1,520 and 1,530.

He also anticipated the index to trade sideways for the week, with immediate support at 1,520 and resistance at 1,550. 

Among the heavyweights, Public Bank gained three sen to RM4.06, Petronas Chemicals Group Bhd increased four sen to RM8.69, while IHH Healthcare Bhd was flat at RM6.60.

Malayan Banking Bhd trimmed two sen to RM8.01 and Tenaga Nasional Bhd slipped one sen to RM9.62.

Of the actives, both KNM Group Bhd and Kanger Internationals Bhd inched up half-a-sen to 24 sen and 5.5 sen, respectively, Hibiscus Petroleum Bhd rose 4.5 sen to 77 sen, while Sapura Energy Bhd was flat at 10 sen.

On the index board, the FBM Emas Index increased 42.32 points to 11,279.75, the FBMT 100 Index went up 32.04 points to 10,947.03, and the FBM Emas Shariah Index earned 65.11 points to 12,336.95.

However, the FBM ACE lost 47.19 points to 7,011.27 and the FBM 70 fell 53.29 points to 14,918.19.

Sector-wise, the Industrial Products and Services Index gained 1.6 points to 205.04 and the Plantation Index soared 79.75 points to 6,404.24, while the Financial Services Index gave up 29.85 points for 15,102.03.

The Main Market volume increased to 2.78 billion shares worth RM2.36 billion compared with 2.51 billion shares worth RM2.27 billion on Monday.

Warrants turnover decreased to 389.6 million units valued at RM66.68 million against 456.24 million units worth RM78.19 million on Monday.

The volume on the ACE Market reduced to 795.76 million shares worth RM263.87 million from 935.43 million shares worth RM436.59 million previously.

Consumer products and services counters accounted for 467.56 million shares traded on the Main Market, industrial products and services (783.94 million), construction (97.26 million), technology (276.94 million), SPAC (nil), financial services (41.17 million), property (170.84 million), plantation (78.57 million), REITs (4.78 million), closed/fund (9,300), energy (675.87 million), healthcare (67.16 million), telecommunications and media (27.15 million), transportation and logistics (78.14 million) and utilities (10.21 million).

Meanwhile, SC Estate Builder said trading of its shares, which had been suspended since 9am on Tuesday, will resume at 9am on Wednesday.

 

Source: The Edge

Market Daily Report: Bursa Malaysia edges lower amid weaker regional sentiment

 

KUALA LUMPUR (Oct 4): Bursa Malaysia ended marginally lower on Monday, dragged down by selling in selected heavyweights amid weaker sentiment in the regional markets, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.01 points to 1,522.47 from Friday’s close of 1,524.48.

The index, which opened 4.56 points firmer at 1,529.04, moved between 1,519.66 and 1,532.73 throughout the trading session.

Losses in Petronas Chemicals Group Bhd, following Employees Provident Fund (EPF)’s disposal of 10.58 million shares, dragged the composite index down by 1.277 points.

The overall market breadth was weak, with decliners outnumbering gainers 519 to 481, while 442 counters were unchanged, 803 untraded, and seven others suspended.

Turnover was almost unchanged at 3.9 billion units worth RM2.79 billion, compared with 3.97 billion units valued at RM2.73 billion last Friday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said local equities ended marginally lower as the market lacked major positive domestic cues to withstand the negative pressure from global markets.

He said key regional markets closed mixed as investors were cautious about the US debt ceiling crisis along with an uptick in yields while continued worries over the Chinese economy also added pressure on Asian equities.

“The local market performed weaker-than-expected as the inflow of foreign funds seems to have declined.

“We believe external uncertainties to be the main reason for the weak market undertone plaguing the domestic market amid the heightened volatility,” he told Bernama.

For the rest of the week, he expects the barometer index to remain in consolidation mode, hovering between the 1,520 and 1,530 range.

“From a technical point of view, we shall see immediate support at 1,520 followed by the psychological support at around 1,500 and resistance at 1,550,” he said.

Among the heavyweights, Tenaga Nasional Bhd gained three sen to RM9.63, and Press Metal Aluminium Holdings Bhd earned eight sen to RM5.73.

Malayan Banking Bhd eased two sen to RM8.03, Public Bank Bhd slipped one sen to RM4.03, Petronas Chemicals lost nine sen to RM8.65, IHH Healthcare Bhd shed five sen to RM6.60 while CIMB Group Holdings Bhd was flat at RM4.70. 

Of the actives, Opcom Holdings Bhd increased 12 sen to RM1.28, KNM Group Bhd perked up two sen to 23.5 sen, AirAsia Group Bhd chalked up 12 sen to RM1.13, Sapura Energy Bhd was flat at 10 sen, while CTOS Digital Bhd trimmed five sen to RM1.87.

On the index board, the FBM Emas Index gained 13.23 points to 11,237.43, the FBMT 100 Index went up 7.75 points to 10,914.99, the FBM Emas Shariah Index earned 23.77 points to 12,271.84, and the FBM 70 advanced 96.95 points to 14,971.4.

However, the FBM ACE slid 5.96 points to 7,058.46.    

Sector-wise, the Industrial Products and Services Index added 0.51 of-a-point to 203.44, the Plantation Index fell 23.59 points to 6,324.49, and the Financial Services Index lost 28.2 points to 15,131.88.

The Main Market volume decreased to 2.51 billion shares worth RM2.27 billion from 2.9 billion shares worth RM2.44 billion on Friday.

Warrants turnover improved to 456.24 million units worth RM78.19 million compared with Friday’s 237.9 million units valued at RM36.65 million. 

The volume on the ACE Market advanced to 935.43 million shares worth RM436.59 million from 822.05 million shares worth RM248.09 million previously.    

Consumer products and services counters accounted for 464.98 million shares traded on the Main Market, industrial products and services (624.12 million), construction (119.95 million), technology (334.99 million), SPAC (nil), financial services (48.08 million), property (241.72 million), plantation (25.61 million), REITs (6.65 million), closed/fund (74,400), energy (458.14 million), healthcare (72.49 million), telecommunications and media (38.63 million), transportation and logistics (59.86 million) and utilities (11.59 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia closes lower

KUALA LUMPUR (Oct 1): Bursa Malaysia ended lower on Friday due to continued selling activities in the healthcare as well as telecommunications and media counters amid weaker sentiment in the regional markets, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 13.32 points or 0.87% to 1,524.48 from Thursday’s close of 1,537.8. 

The index, which opened 1.31 points lower at 1,536.49, moved between 1,521.08 and 1,539.47 throughout the day.

Market breadth was negative with decliners surpassing gainers 757 to 269, while 361 counters were unchanged, 857 untraded and seven others suspended.

Turnover slipped to 3.97 billion units worth RM2.73 billion from 4.39 billion units worth RM3.34 billion on Thursday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said local equities ended lower in a lacklustre trading day due to selling pressure on heavyweights, particularly banks and glove makers.

“Key regional markets were also in negative territory following the firmly negative cue overnight from Wall Street as investors reacted to rising inflation worries,” he told Bernama on Friday.

Regionally, ActivTrades trader Anderson Alves said, most Asian stocks fell on Friday following a weak handover from Wall Street overnight where the S&P 500 closed September lower, for its worst month and quarter since the beginning of the pandemic.

“Looking ahead, traders are likely to start building new portfolio positions for the year-end, ahead of major shifts in monetary policy from G7 central banks, and as emerging markets start showing early signals of stagflation,” he said in a research note on Friday.

Later on Friday, he said, there would be the final manufacturing Purchasing Managers’ Index (PMI) readings from across the globe.

“Markets will be keeping an eye out for the US Institute for Supply Management's manufacturing survey and US Personal Consumption Expenditures data due in the US session on Friday,” he added.

Meanwhile, Top Glove Corp Bhd and Maxis Bhd were the top two losers in the benchmark index on Friday, declining by 12 sen to RM2.70 and 15 sen to RM4.54, respectively.

As for other heavyweights, Malayan Banking Bhd was flat at RM8.05, Public Bank Bhd fell three sen to RM4.04, IHH Healthcare Bhd dropped five sen to RM6.65, Tenaga Nasional Bhd lost eight sen to RM9.60, while Petronas Chemicals Group Bhd went up four sen to RM8.74.

Of the actives, Sapura Energy Bhd, KNM Group Bhd and Serba Dinamik Holdings Bhd decreased 1.5 sen each to 10 sen, 21.5 sen and 32 sen, respectively, while Kanger International Bhd was flat at five sen.

On the index board, the FBM Emas Index dipped 86.89 points to 11,224.19, the FBMT 100 Index was 90.78 points easier at 10,907.24, and the FBM Emas Shariah Index dropped 110.94 points to 12,248.07. 

The FBM 70 eased 106.23 points to 14,874.53 while the FBM ACE slid 94.48 points to 7,064.42.    

Sector-wise, the Industrial Products and Services Index decreased 1.3 points to 202.93, the Plantation Index went up 19.74 points to 6,348.08, and the Financial Services Index reduced by 47.27 points to 15,160.08.

The Main Market volume increased to 2.9 billion shares worth RM2.44 billion from Thursday’s 2.74 billion shares worth RM2.96 billion. 

Warrants turnover declined to 237.9 million units valued at RM36.65 million versus 410.46 million units worth RM63.61 million on Thursday. 

The volume on the ACE Market fell to 822.05 million shares worth RM248.09 million from 1.23 billion shares worth RM310.07 million on Thursday.    

Consumer products and services counters accounted for 515.45 million shares traded on the Main Market, industrial products and services (729.76 million), construction (163.19 million), technology (302.59 million), SPAC (nil), financial services (62.87 million), property (186 million), plantation (30.8 million), REITs (4.69 million), closed/fund (56,100), energy (662.12 million), healthcare (98.75 million), telecommunications and media (37.7 million), transportation and logistics (95.68 million) and utilities (13.55 million).

 

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends lower on profit-taking

KUALA LUMPUR (Sept 30): Bursa Malaysia ended lower on Thursday due to continued selling activities in telecommunications, media, industrial products and services counters, amidst cautious sentiments in the regional markets, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 9.85 points or 0.64% to 1,537.80 from Wednesday’s close of 1,547.65. 

The index, which opened 1.22 points lower at 1,546.43, moved between 1,532.56 and 1,549.36 throughout the day.

Meanwhile, market breadth was negative with decliners surpassing gainers 530 to 458, while 453 counters were unchanged, 866 untraded and 68 others suspended.

Turnover rose to 4.39 billion units worth RM3.34 billion from 3.67 billion units worth RM2.71 million on Wednesday.

Rakuten Trade Sdn Bhd vice president of Equity Research Thong Pak Leng told Bernama that profit-taking activities, particularly among banking and gaming heavyweights, had taken a toll on the local bourse.

“Key regional markets closed mixed as the energy crunch in China has hit industrial production, weighing on sentiment, while concerns about Chinese property giant Evergrande’s default risk eased after it reported plans to settle debt with a Chinese bank.

“Although broad-based sentiments continue to be cautious, we reckon bargain hunting in blue chips to persist, thus the benchmark index is expected to trend around the 1,540-1,550 range towards the weekend,” he said.

Meanwhile, Axiata Group Bhd and Press Metal Aluminium Holdings Bhd were the top two losers on the benchmark index on Thursday, declining by 14 sen and nine sen to RM3.91 and RM5.74, respectively.

As for other heavyweights, Malayan Banking Bhd slipped five sen to RM8.05, Public Bank Bhd fell three sen to RM4.07, Petronas Chemicals Group Bhd went down two sen to RM8.70 and Tenaga Nasional Bhd shed seven sen to RM9.68, while IHH Healthcare Bhd was flat at RM6.70.

Of the actives, Serba Dinamik Holdings Bhd decreased 1.5 sen to 32 sen, Kanger International Bhd was flat at five sen, while Green Ocean Corp Bhd added one sen to five sen and Widad Group Bhd earned half-a-sen to 39 sen.

On the index board, the FBM Emas Index dipped 33.94 points to 11,311.08, the FBMT 100 Index was 41.81 points easier at 10,998.02, and the FBM Emas Shariah Index contracted 35.34 points to 12,359.01. 

The FBM 70 advanced 54.9 points to 14,980.76 while the FBM ACE fell 6.17 points to 7,158.9.    

Sector-wise, the Industrial Products and Services Index decreased 0.84 of-a-point to 204.23, the Plantation Index went down 19.98 points to 6,328.34, and the Financial Services Index reduced by 52.52 points to 15,207.35. 

The Main Market volume increased to 2.74 billion shares worth RM2.96 billion from Wednesday’s 2.5 billion shares worth RM2.35 billion. 

Warrants turnover declined to 410.46 million units valued at RM63.61 million versus 419.08 million units worth RM69.34 million on Wednesday. 

The volume on the ACE Market rose to 1.23 billion shares worth RM310.07 million from 746.93 million shares worth RM286.96 million on Wednesday.    

Consumer products and services counters accounted for 491.67 million shares traded on the Main Market, industrial products and services (865.91 million), construction (120.54 million), technology (235.14 million), SPAC (nil), financial services (67.13 million), property (165.11 million), plantation (24.14 million), REITs (10.82 million), closed/fund (5,500), energy (359.09 million), healthcare (130.89 million), telecommunications and media (60.86 million), transportation and logistics (190.25 million) and utilities (14.19 million).

 

Source: The Edge