Market Daily Report: Bursa Malaysia rebounds to end higher on bargain hunting

 

KUALA LUMPUR (Nov 30): Bursa Malaysia rebounded to close marginally higher on Tuesday due to bargain hunting in selected heavyweights, particularly telecommunications, oil and gas and plantation stocks, said an analyst.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.23% or 3.41 points to 1,513.98 from 1,510.57 at Monday’s closing. 

The benchmark index opened 2.01 points firmer at 1,512.58 and moved between 1,511.27 and 1,519.62 throughout the trading session.

On the broader market, gainers led losers 576 to 464, while 392 counters were unchanged, 873 untraded, and 63 others suspended.

Turnover decreased to 5.67 billion units valued at RM7.97 billion from Monday’s 6.14 billion units worth RM5.19 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Tuesday’s gainers were led by Kuala Lumpur Kepong Bhd, which increased 90 sen to RM21.04; PPB Group Bhd, which rose 82 sen to RM17.82; and Petronas Gas Bhd, which was up 52 sen to RM16.82.

He said key regional indices, however, closed mostly lower as investors in the region continued to track developments surrounding the Omicron variant while Moderna chief executive Stéphane Bancel said he expected existing vaccines to struggle with Omicron variant.

“As for the local bourse, we expect sentiment [to] continue to be cautious while external uncertainties to be a major setback for the market.

“Hence we expect the benchmark index to remain range bound at around 1,510-1,520 for the remainder of the week with immediate resistance at 1,530 and support at 1,500,” he told Bernama. 

Among the heavyweights, Petronas Chemicals Group Bhd recovered 29 sen to RM8.50, Malayan Banking Bhd shed seven sen to RM7.98, while Public Bank Bhd, Tenaga Nasional Bhd, and IHH Healthcare Bhd eased two sen each to RM3.94, RM9.24 and RM6.58, respectively.

Of the actives, ATA IMS Bhd eased seven sen to 45 sen, Inari Amertron Bhd added four sen to RM4.19, and Supermax Corp Bhd lost 27 sen to RM1.88. 

On the index board, the FBM Emas Index increased 28.91 points to 11,083.78, the FBMT 100 Index perked up 29.33 points to 10,769.57, and the FBM Emas Shariah Index gained 67.7 points to 12,128.62.

The FBM 70 advanced 59.3 points to 14,441.62 and the FBM ACE climbed 14.03 points to 6,529.94.

Sector-wise, the Industrial Products and Services Index was 2.99 points higher at 195.04, the Financial Services Index fell 8.89 points to 15,034.52, and the Plantation Index ticked up 76.32 points to 6,432.64.

The Main Market volume went up to 4.24 billion shares valued at RM7.49 billion versus Monday’s 3.44 billion shares valued at RM4.38 billion.   

Warrants turnover dwindled to 422.05 million units worth RM71.79 million against 518.29 million units worth RM66.39 million previously. 

The volume on the ACE Market decreased to 997.19 million shares valued at RM403.62 million from 2.17 billion shares valued at RM747.12 million on Monday.  

Consumer products and services counters accounted for 327.95 million shares traded on the Main Market, industrial products and services (1.68 billion), construction (61.95 million), technology (667.2 million), SPAC (nil), financial services (250.91 million), property (120.95 million), plantation (29.13 million), REITs (24.29 million), closed/fund (77,000), energy (247.98 million), healthcare (649.02 million), telecommunications and media (99.2 million), transportation and logistics (59 million), and utilities (29.32 million).

 

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends lower, market cautious on Omicron variant

 

KUALA LUMPUR (Nov 29): Bursa Malaysia closed lower on Monday as the market remained under pressure throughout the day due to lack of buying interest and was further dampened by the spillover effects of regional selldown, said an analyst.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 0.11% or 1.65 points to end at 1,510.57 from 1,512.22 last Friday. 

The index, which opened 4.43 points weaker at 1,507.79, moved between 1,501.51 and 1,516.6 throughout the trading session. 

On the broader market, decliners thumped gainers 790 to 351, while 376 counters were unchanged, 795 untraded, and 78 others suspended.

Turnover increased to 6.14 billion units worth RM5.19 billion from Friday’s 4.9 billion units worth RM3.48 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional markets also ended lower as investors were cautious over the recently discovered Omicron Covid-19 variant, which may potentially reinstate full lockdowns in some countries and possibly slowing down the economic recovery.

“We reckon investor sentiment will remain jittery, hence, we expect the FBM KLCI to trend in a range bound and hovering within the 1,500-1,520 range for the week.

“From a technical point of view, we see the immediate support at 1,500 and resistance at 1,530,” he told Bernama.

On Bursa Malaysia, Malayan Banking Bhd dropped five sen to RM8.05, Public Bank Bhd eased four sen to RM3.96, Petronas Chemicals Group Bhd shed 22 sen to RM8.21, Tenaga Nasional Bhd dipped 12 sen to RM9.26, while IHH Healthcare Bhd rose four sen to RM6.60.

Of the actives, AT Systematization Bhd was flat at 5.5 sen, Careplus Group Bhd added 10 sen to RM1.32 and Top Glove Corp Bhd jumped 55 sen to RM3.19. 

On the index board, the FBM Emas Index decreased 24.26 points to 11,054.87, the FBMT 100 Index slid 22.41 points to 10,740.24, and the FBM Emas Shariah Index gained 20.18 points to 12,060.92.

The FBM 70 lost 72.29 points to 14,382.32 but the FBM ACE climbed 52.6 points to 6,515.9.   

Sector-wise, the Industrial Products and Services Index eased 4.16 points to 192.05, the Financial Services Index reduced 100.26 points to 15,043.41, and the Plantation Index fell 108.72 points to 6,356.32.

The Main Market volume went up to 3.44 billion shares valued at RM4.38 billion versus Friday’s 3.05 billion shares worth RM2.93 billion.   

Warrants turnover surged to 518.29 million units worth RM66.39 million against 465.64 million units valued at RM100.01 million previously. 

The volume on the ACE Market increased to 2.17 billion shares valued at RM747.12 million from 1.38 billion shares valued at RM456.49 million on Friday.  

Consumer products and services counters accounted for 524.46 million shares traded on the Main Market, industrial products and services (1.03 billion), construction (112.95 million), technology (446.38 million), SPAC (nil), financial services (107.32 million), property (204.45 million), plantation (25.67 million), REITs (16.23 million), closed/fund (40,800), energy (270.65 million), healthcare (583.13 million), telecommunications and media (44.87 million), transportation and logistics (38.91 million), and utilities (31.15 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends lower as markets spooked by new variant

 

KUALA LUMPUR (Nov 26): Bursa Malaysia ended broadly lower on Friday in line with regional markets amid weak sentiment following the emergence of a new Covid-19 variant in South Africa as well as a recent surge in new infections in Europe which dampen investor sentiment.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 5.38 points or 0.35% to finish at 1,512.22 from 1,517.6 on Thursday. 

The index opened 0.57 of-a-point higher at 1,518.17 and moved between 1,508.97 and 1,518.44 throughout the day.

On the broader market, decliners thumped gainers 993 to 195, while 303 counters were unchanged, 821 untraded, and 39 others suspended.

Turnover jumped to 4.9 billion units worth RM3.48 billion from Thursday’s 3.81 billion units worth RM2.42 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI has broken the 1,520 support level and may test the 1,500 psychological level in the near term.

“We believe the benchmark index will see some downside though bargain-hunting activities may emerge as well,” he told Bernama.

Regionally, Japan’s Nikkei 225 declined 2.53% to 28,751.62, Singapore’s Straits Times Index dipped 1.72% to 3,166.27, and Hong Kong’s Hang Seng Index went down 2.67% to 24,080.52.

On Bursa Malaysia, heavyweights Petronas Gas Bhd advanced six sen to RM16.36, Tenaga Nasional Bhd was flat at RM9.38, Malayan Banking Bhd and Petronas Chemicals Group Bhd eased one sen each to RM8.10 and RM8.43, respectively, while Public Bank Bhd slipped one sen to RM4 and IHH Healthcare Bhd slumped 11 sen to RM6.56.     

Of the actives, Careplus Group Bhd soared 25 sen to RM1.22, Top Glove Corp Bhd surged 39 sen to RM2.64, VSolar Group Bhd and Borneo Oil Bhd were flat at 1.5 sen and 2.5 sen, respectively, while Dagang NeXchange Bhd trimmed four sen to 81.5 sen, and Sapura Energy Bhd eased half-a-sen to nine sen.  

On the index board, the FBM 70 dipped 180.86 points to 14,454.61, the FBMT 100 Index shed 62.72 points to 10,762.65, the FBM Emas Index gave up 80.44 points to 11,079.13, the FBM Emas Shariah index slipped 67.07 points to 12,040.74, and the FBM ACE lost 188.9 points to 6,463.31.  

Sector-wise, the Industrial Products and Services Index slid 3.18 points to 196.21, the Financial Services Index was 85.85 points lower at 15,143.67, and the Plantation Index fell 114.14 points to 6,465.04.

Meanwhile, ATA IMS Bhd shares extended their losses to hit limit down on Friday, plunging 30 sen or 36.59% to 52 sen, as UK high-tech home appliance designer and manufacturer Dyson Ltd had cut ties with the electronics manufacturing firm over alleged labour practices.

The counter was among the top losers on the bourse this morning. 

The Main Market volume went up to 3.05 billion shares worth RM2.93 billion from Thursday’s 2.35 billion shares worth RM2.13 billion.   

Warrants turnover surged to 465.64 million units worth RM100.01 million against 258.24 million units worth RM36.88 million on Thursday. 

The volume on the ACE Market increased to 1.38 billion shares valued at RM456.49 million from 1.2 billion shares valued at RM247.51 million on Thursday.  

Consumer products and services counters accounted for 470.43 million shares traded on the Main Market, industrial products and services (1.01 billion), construction (102.88 million), technology (406.72 million), SPAC (nil), financial services (79.13 million), property (209.73 million), plantation (33.05 million), REITs (19.32 million), closed/fund (65,500), energy (358.5 million), healthcare (226.14 million), telecommunications and media (43.9 million), transportation and logistics (64.63 million), and utilities (19.21 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends lower amid weak sentiment

 

KUALA LUMPUR (Nov 25): Bursa Malaysia ended lower on Thursday with the benchmark index below the 1,520 mark amid weak sentiment. 

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 4.67 points to finish at 1,517.6 from 1,522.27 on Wednesday. 

The index opened 1.95 points weaker at 1,520.32 and moved between 1,515.43 and 1,523.16 throughout the day.

On the broader market, decliners trounced gainers 712 to 302, while 402 counters were unchanged, 925 untraded and 44 others suspended.

Turnover increased to 3.81 billion units worth RM2.42 billion from Wednesday's 3.04 billion units worth RM2.09 billion.

A dealer said bargain-hunting would emerge as valuations on Bursa Malaysia were still cheaper than regional peers.

He expects the benchmark index FBM KLCI to trend between 1,520 and 1,525 towards the weekend.

Among the heavyweights, Petronas Chemicals Group Bhd jumped 10 sen to RM8.44, Hong Leong Bank Bhd rose four sen to RM18.32, Axiata Group Bhd gained three sen to RM4, Maxis Bhd was flat at RM4.59, Malayan Banking Bhd eased one sen to RM8.11, Public Bank Bhd shed five sen to RM4.02 and IHH Healthcare Bhd slipped two sen to RM6.67.    

Of the actives, Green Ocean Corp Bhd edged up half-a-sen to four sen, VS Industry Bhd surged 12 sen to RM1.54, VSolar Group Bhd was flat at 1.5 sen, Fintec Global Bhd and G3 Global Bhd edged down half-a-sen each to 1.5 sen and 13 sen respectively, while ATA IMS Bhd lost 35 sen to 82 sen. 

On the index board, the FBM 70 went up 4.41 points to 14,635.47, the FBMT 100 Index slipped 23.91 points to 10,825.37, the FBM Emas Index dipped 33.58 points to 11,159.57, the FBM Emas Shariah Index weakened 28.36 points to 12,107.81, while the FBM ACE contracted 99.01 points to 6,652.3. 

Sector-wise, the Industrial Products and Services Index added 0.19 of-a-point to 199.39, the Financial Services Index was 40.2 points lower at 15,229.52, and the Plantation Index reduced 22.13 points to 6,579.18.

The Main Market volume went up to 2.35 billion shares worth RM2.13 billion against Wednesday's 1.96 billion shares worth RM1.79 billion.  

Warrants turnover fell to 258.24 million units worth RM36.88 million from 343.07 million units worth RM76.05 million on Wednesday. 

The volume on the ACE Market expanded to 1.2 billion shares valued at RM247.51 million from 716.62 million shares valued at RM226.51 million on Wednesday. 

Consumer products and services counters accounted for 445.02 million shares traded on the Main Market, industrial products and services (996.65 million), construction (92.89 million), technology (279.02 million), SPAC (nil), financial services (42.05 million), property (137.63 million), plantation (23.95 million), REITs (11.99 million), closed/fund (149,900), energy (135.39 million), healthcare (50.28 million), telecommunications and media (49.56 million), transportation and logistics (65.18 million), and utilities (20.89 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends almost flat

 

KUALA LUMPUR (Nov 24): Bursa Malaysia ended almost flat on Wednesday due to the absence of fresh catalysts, said an analyst.   

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.61 of-a-point to finish at 1,522.27 from 1,522.88 on Tuesday. 

The index opened 1.33 points better at 1,524.21 and moved between 1,521.12 and 1,525.98 throughout the day.

On the broader market, decliners led gainers 506 to 402, while 440 counters were unchanged, 993 untraded and 45 others suspended.

Turnover increased to 3.04 billion units worth RM2.09 billion from Tuesday's 2.7 billion units worth RM2.35 billion.   

Key regional indices, however, ended mixed on bargain hunting.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said foreign funds continued to flow into the region while valuations on the local market remained attractive as compared to regional peers.

"Hence, we anticipate the FBM KLCI to hover within the range of 1,525-1,535 for the remaining of the week. From a technical point of view, immediate support is unchanged at 1,520 while resistance is at 1,565,” he told Bernama.

Regionally, Japan's Nikkei 225 declined 1.58% to 29,302.66, Singapore's Straits Times Index dipped 0.02% to 3,226.83 but Hong Kong's Hang Seng Index rose 0.14% to 24,685.5.   

On the home front, heavyweights Petronas Chemicals Group Bhd and Axiata Group Bhd both went up three sen to RM8.34 and RM3.97, respectively, Public Bank Bhd was flat at RM4.07, Malayan Banking Bhd slid four sen to RM8.12, IHH Healthcare Bhd eased one sen to RM6.69, and Tenaga Nasional Bhd shed six sen to RM9.44.     

Of the actives, VSolar Group Bhd edged up half-a-sen to 1.5 sen, Dagang NeXchange Bhd rose 1.5 sen to 88 sen, G3 Global Bhd was up four sen to 13.5 sen, WZ Satu Bhd ticked up two sen to 25 sen, ATA IMS Bhd slipped three sen to RM1.17, while both MY EG Services Bhd and Bumi Armada Bhd fell one sen to RM1.08 and 46.5 sen, respectively.  

On the index board, the FBMT 100 Index slipped 19.77 points to 10,849.28, the FBM Emas Index dipped 20.26 points to 11,193.15, the FBM Emas Shariah Index weakened 20.98 points to 12,136.17, the FBM 70 went down 87.11 points to 14,631.06, while the FBM ACE improved 35 points to 6,751.31.

Sector-wise, the Financial Services Index was 14.97 points lower at 15,269.72, the Industrial Products and Services Index inched down 0.32 of-a-point to 199.2, but the Plantation Index expanded by 26.28 points to 6,601.31. 

The Main Market volume went up to 1.96 billion shares worth RM1.79 billion from Tuesday's 1.85 billion shares worth RM2.05 billion. 

Warrants turnover improved to 343.07 million units worth RM76.05 million from 316.03 million units worth RM63.74 million on Tuesday. 

The volume on the ACE Market expanded to 716.62 million shares valued at RM226.51 million from Tuesday's 526.74 million shares valued at RM236.77 million.  

Consumer products and services counters accounted for 311.21 million shares traded on the Main Market, industrial products and services (655 million), construction (71.2 million), technology (342.38 million), SPAC (nil), financial services (48.43 million), property (119.47 million), plantation (17.88 million), REITs (13.38 million), closed/fund (449,400), energy (218.76 million), healthcare (59.41 million), telecommunications and media (37.59 million), transportation and logistics (45.91 million), and utilities (18.13 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends lower, FBM KLCI declines 0.26%

 

KUALA LUMPUR (Nov 23): Bursa Malaysia ended lower on Tuesday on lack of buying interest, with the key index declining by 0.26%. 

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.99 points to finish at 1,522.88. The key index moved between 1,521.51 and 1,531.73 throughout the day.

The index opened 0.38 of-a-point better at 1,527.25 from 1,526.87 at Monday's close.

On the broader market, decliners led gainers 641 to 330, while 462 counters were unchanged, 903 untraded and 18 others suspended.

Turnover increased to 2.7 billion shares worth RM2.35 billion from Monday’s 2.45 billion shares worth RM1.99 billion.  

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI remained in its consolidation mode despite a few attempts to break out of the 1,530 mark.

“Nonetheless, we reckon the index to see a slight upside from some buying due to prevailing low valuations and expect it to hover within the 1,525-1,535 range for the rest of the week,” he told Bernama.

Thong added that the recent spike in global Covid-19 cases might heighten the market volatility regionally. 

Among the heavyweights, Malayan Banking Bhd and Petronas Chemicals Group Bhd added one sen each to RM8.16 and RM8.31, respectively, IHH Healthcare Bhd advanced eight sen to RM6.70, CIMB Group Holdings Bhd gained three sen to RM5.19, Public Bank Bhd and Tenaga Nasional Bhd were flat at RM4.07 and RM9.50 respectively, while Press Metal Aluminium Holdings Bhd and Hong Leong Bank Bhd both shed four sen to RM5.70 and RM18.30, respectively.  

Of the actives, MY EG Services Bhd increased four sen to RM1.09, Dagang NeXchange Bhd rose 1.5 sen to 86.5 sen, Tanco Holdings Bhd was flat at 27 sen, ATA IMS Bhd lost 31 sen to RM1.20, NWP Holdings Bhd decreased 2.5 sen to 33 sen and Uzma Bhd slipped five sen to 52.5 sen.   

On the index board, the FBMT 100 Index reduced 27.43 points to 10,869.05, the FBM Emas Index discounted 31.85 points to 11,213.41, the FBM Emas Shariah Index weakened 54.62 points to 12,157.15, the FBM ACE trimmed 77.26 points to 6,716.31, and the FBM 70 went down 33.07 points to 14,718.17.  

Sector-wise, the Financial Services Index was 2.7 points higher at 15,284.69, the Industrial Products and Services Index inched down 0.99 of-a-point to 199.52, and the Plantation Index contracted 110.4 points to 6,575.  

The Main Market volume went up to 1.85 billion shares worth RM2.05 billion from 1.67 billion shares worth RM1.74 billion on Monday.    

Warrants turnover was higher at 316.03 million units worth RM63.74 million from 243.42 million units worth RM33.5 million on Monday. 

The volume on the ACE Market eased to 526.74 million shares valued at RM236.77 million from Monday’s 536.41 million shares valued at RM219.11 million.  

Consumer products and services counters accounted for 258.29 million shares traded on the Main Market, industrial products and services (538.67 million), construction (78.73 million), technology (326.44 million), SPAC (nil), financial services (55.51 million), property (138.61 million), plantation (33.2 million), REITs (25.16 million), closed/fund (301,000), energy (184.21 million), healthcare (82.49 million), telecommunications and media (60.23 million), transportation and logistics (56.7 million), and utilities (15.19 million).

 

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends flat on lack of catalysts

 

KUALA LUMPUR (Nov 22): Bursa Malaysia ended mixed on Monday, with the benchmark index barely moving due to a lack of catalysts, said an analyst.  

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 1.33 points, or 0.09%,  to finish at 1,526.87. The key index moved between 1,522.71 and 1,529.26 throughout the day.

The index opened 1.22 points better at 1,526.76 compared with 1,525.54 at Friday’s close.

On the broader market, decliners led gainers 569 to 373, while 449 counters were unchanged, 931 untraded and 19 others suspended.

Turnover fell to 2.45 billion shares worth RM1.99 billion from Friday’s 2.67 billion shares worth RM2.01 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said investors were concerned about the resurgence of Covid-19 cases and that fresh lockdowns in Europe could affect the global economic recovery.

“On the domestic front, the FBM KLCI trended in a tight consolidation mode for more than a week, hence we prefer to remain cautious. As such, we anticipate the FBM KLCI to hover within the range of 1,525-1,535 for next week,” he told Bernama. 

From a technical point of view, immediate support is unchanged at 1,520, followed by psychological support at 1,500, while resistance at 1,565, he said.

Among the heavyweights, Malayan Banking Bhd strengthened seven sen to RM8.15, IHH Healthcare Bhd jumped eight sen to RM6.62, CIMB Group Holdings Bhd increased six sen to RM5.16, Public Bank Bhd was flat at RM4.07, Petronas Chemicals Group Bhd eased one sen to RM8.30 and Tenaga Nasional Bhd shed five sen to RM9.50.  

Of the actives, Dagang NeXchange Bhd went up 2.5 sen to 85 sen, NWP Holdings Bhd added one sen to 35.5 sen, JAG Bhd rose 1.5 sen to 35.5 sen, PDZ Holdings Bhd and Metronic Global Bhd were one sen easier to five sen and 1.5 sen, respectively, while CTOS Digital Bhd slipped 10 sen to RM1.87.  

On the index board, the FBMT 100 Index increased 0.9 of-a-point to 10,896.48, the FBM Emas Index inched down 0.38 of-a-point to 11,245.26, and the FBM Emas Shariah Index discounted 15.98 points to 12,211.77, the FBM ACE weakened 21.49 points to 6,793.57, and the FBM 70 fell 32.32 points to 14,751.24. 

Sector-wise, the Financial Services Index bagged 56.41 points to 15,281.99, the Industrial Products and Services Index inched up 0.72 of-a-point to 200.51, and the Plantation Index expanded by 80.33 points to 6,685.43. 

The Main Market volume eased to 1.67 billion shares worth RM1.74 billion, from 1.86 billion shares worth RM1.75 billion on Friday.   

Warrants turnover fell to 243.42 million units worth RM33.5 million, from 298.96 million units worth RM73.11 million previously.

The volume on the ACE Market increased to 536.41 million shares valued at RM219.11 million from Friday’s 512.95 million shares valued at RM191.04 million. 

Consumer products and services counters accounted for 234.41 million shares traded on the Main Market, industrial products and services (512.93 million), construction (41.78 million), technology (242.47 million), SPAC (nil), financial services (56.88 million), property (151.09 million), plantation (25.18 million), REITs (11.49 million), closed/fund (83,100), energy (142.33 million), healthcare (52.75 million), telecommunications and media (19.47 million), transportation and logistics (165.18 million), and utilities (12.59 million).

 

 

Source: The Edge

Market Daily Report: Bursa Malaysia closes higher on bargain-hunting in telecom counters

 

 

KUALA LUMPUR (Nov 19): Bursa Malaysia ended the week higher on bargain-hunting in selected heavyweights mainly in telecommunications and media counters such as Axiata Group Bhd, Digi.Com Bhd and Maxis Bhd.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.75 points or 0.11% to 1,525.54. It moved between 1,523.14 and 1,527.5 throughout the day.

The index opened 1.59 points better at 1,525.38 from 1,523.79 at Thursday’s close.

On the broader market, gainers led decliners 474 to 450, while 471 counters were unchanged, 928 untraded and 20 others suspended.

Turnover fell to 2.67 billion shares worth RM2.01 billion from Thursday’s 2.81 billion shares worth RM2.12 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI continued to trade range-bound due to the absence of fresh catalysts.

“The benchmark index closed a tad higher, lifted mainly by banks and telecommunication heavyweights.

“Key regional markets were mostly positive after Wall Street closed at a record high during the previous session,” he told Bernama.

However, he said investor sentiment in Hong Kong and China was cautious after Alibaba missed revenue and earnings expectations, causing the stock to fall more than 10%.

“Back home the FBM KLCI remains well supported above the 1,520 level, hence we reckon accumulation of stocks to persist on dips,” he added.

Regionally, Japan’s Nikkei was 0.5% better at 29,745.87, the South Korean Kospi rose 0.8% to 2,971.02 while Shanghai’s SSE gained 1.13% to 3,560.37.

Singapore's Straits Times Index fell 0.17% to 3,231.45 and Hong Kong’s Hang Seng Index shed 1.07% to 25,049.97.

Among the heavyweights, Malayan Banking Bhd improved four sen to RM8.08, Public Bank Bhd gained two sen to RM4.07, IHH Healthcare Bhd rose one sen to RM6.54, while Petronas Chemicals Group Bhd was flat at RM8.31.

Of the actives, PDZ Holdings Bhd decreased half-a-sen to six sen, AirAsia Group Bhd slipped eight sen to RM1.05 and KNM Group Bhd dipped one sen to 17 sen.

On the index board, the FBM Emas Index gained 14.18 points to 11,245.64, the FBMT 100 Index increased 8.07 points to 10,895.58, and the FBM Emas Shariah Index added 15.39 points to 12,227.75.

The FBM ACE weakened 1.82 points to 6,815.06 while the FBM 70 was 6.44 points lower at 14,783.56.

Sector-wise, the Financial Services Index rose 52.59 points to 15,225.58, the Industrial Products and Services Index inched up 0.66 of-a-point to 199.79, and the Plantation Index advanced 13.56 points to 6,605.1.

The Main Market volume rebounded to 1.86 billion shares worth RM1.75 billion from 1.81 billion shares worth RM1.81 billion on Thursday.  

Warrants turnover improved to 298.96 million units worth RM73.11 million versus 244.27 million units worth RM50.32 million previously.

The volume on the ACE Market fell to 512.95 million shares valued at RM191.04 million from Thursday’s 746.13 million shares valued at RM257.14 million. 

Consumer products and services counters accounted for 376.15 million shares traded on the Main Market, industrial products and services (458.68 million), construction (40.04 million), technology (260.13 million), SPAC (nil), financial services (48.3 million), property (128.82 million), plantation (10.69 million), REITs (8.01 million), closed/fund (146,900), energy (231.82 million), healthcare (62.53 million), telecommunications and media (36.77 million), transportation and logistics (171.89 million), and utilities (21.5 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia takes a dip, in line with regional bourses

 

KUALA LUMPUR (Nov 18): Bursa Malaysia finished trading on an easier note on Thursday, dragged down by losses in glove, banking, and gaming counters, and in sync with most key regional bourses.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 1.34 points to 1,523.79, having fluctuated between 1,519.91 and 1,525.12 throughout the day.

The index opened 0.55 of-a-point easier at 1,524.58 compared with 1,525.13 at Wednesday’s close.

On the broader market, decliners surpassed gainers 560 to 387, while 407 counters were unchanged, 969 untraded and 21 others suspended.

Turnover fell to 2.81 billion shares worth RM2.12 billion from Wednesday’s 3.15 billion shares worth RM2.46 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI remained in consolidation mode due to the absence of fresh catalysts.

“Key regional markets are also in negative territory due to overnight losses on Wall Street.

“Investors are also cautious about the increasing market volatility across the region,” he told Bernama.

On the domestic front, he said the local bourse is expected to be muted going forward as third quarter corporate results may have been impacted by the movement control order.

“Nonetheless, we reckon results from the banks and plantation players will remain strong.

“The market sentiment has remained cautious with the FBM KLCI moving in a tight consolidation mode, however it managed to close above the 1,520 support level,” he noted.

Nonetheless, some bargain-hunting activities are expected to emerge with the benchmark index ranging between 1,520-1,530 towards the weekend, he said.

Regionally, the Singapore Straits Times Index rose 0.12% to 3,236.49, the South Korean Kospi shed 0.51% to 2,947.38 while Shanghai’s SSE eased 0.47% to 3,520.71.

Japan’s Nikkei was 0.3% easier at 29,598.66 and Hong Kong’s Hang Seng Index shed 1.29% to 25,319.72.

Among the heavyweights, Malayan Banking Bhd eased three sen to RM8.04, while Public Bank Bhd and Petronas Chemicals Group Bhd were flat at RM4.05 and RM8.31 respectively and IHH Healthcare Bhd fell two sen to RM6.53.

Of the actives, WZ Satu Bhd rose one sen to 23.5 sen, VSolar Group Bhd and Fintec Global Bhd were flat at 1.5 sen respectively and KNM Group Bhd went up one sen to 18 sen.

On the index board, the FBM Emas Index trimmed 19.92 points to 11,231.46, the FBMT 100 Index decreased 13.86 points to 10,887.51 and the FBM Emas Shariah Index dipped 18.18 points to 12,212.36.

The FBM ACE strengthened 12.74 points to 6,816.88, and the FBM 70 was 35.49 points lower at 14,790.    

Sector-wise, the Financial Services Index fell 19.76 points to 15,172.99, the Industrial Products and Services Index inched up 0.63 of-a-point to 199.13, and the Plantation Index added 47.64 points to 6,591.54.

The Main Market volume retreated to 1.81 billion shares worth RM1.81 billion from two billion shares worth RM2.09 billion on Wednesday.  

Warrants turnover shrank to 244.27 million units worth RM50.32 million versus 301.88 million units worth RM61.42 million previously.

The volume on the ACE Market fell to 746.13 million shares valued at RM257.14 million from Wednesday’s 824.87 million shares valued at RM308.96 million. 

Consumer products and services counters accounted for 273.75 million shares traded on the Main Market, industrial products and services (725.12 million), construction (38.99 million), technology (236.97 million), SPAC (nil), financial services (48.03 million), property (114.8 million), plantation (10.2 million), REITs (8.11 million), closed/fund (8,800), energy (188.5 million), healthcare (92.05 million), telecommunications and media (21.48 million), transportation and logistics (41.76 million), and utilities (13.2 million).

 

Source: The Edge

Market Daily Report: FBM KLCI ends 2.24 points up on last-minute buying

 

KUALA LUMPUR (Nov 17): The FTSE Bursa Malaysia KLCI (FBM KLCI) closed 2.24 points up at an intra-day high of 1,525.13 on Wednesday after erasing losses on last-minute buying in heavyweights, mainly Top Glove Corp Bhd, Kuala Lumpur Kepong Bhd (KLK) and Petronas Dagangan Bhd.

The index, which opened 0.47 of-a-point easier at 1,522.42, moved between 1,519.07 and 1,523.13 throughout the trading session.

On the broader market, losers thumped gainers 715 to 260, while 417 counters were unchanged, 939 untraded and 48 others suspended.

Turnover stood at 3.15 billion shares worth RM2.46 billion from Tuesday’s 3.15 billion shares worth RM2.26 billion.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the FBM KLCI remained lacklustre on Wednesday in line with the regional bourses.

“From a technical standpoint, the FBM KLCI is already in the oversold position with the current support and resistant level at 1,483.75 and 1,533.82 points respectively.

“Concern over the possibility of a sooner-than-expected rise in the United States interest rate coupled with the rising number of Covid-19 cases may have limited the upside potential for the FBM KLCI at the moment,” he told Bernama.

As such, he said the FBM KLCI is expected to range between 1,520 and 1,530 in the immediate term.

Among the heavyweights, Malayan Banking Bhd fell two sen to RM8.07 and Public Bank Bhd rose three sen to RM4.05, while Petronas Chemicals Group Bhd and IHH Healthcare Bhd were flat at RM8.31 and RM6.55 respectively.

Top Glove improved nine sen to RM2.51, KLK advanced 30 sen to RM20.44 and Petronas Dagangan climbed 24 sen to RM19.88.

As for the actives, VSolar Group Bhd was flat at 1.5 sen, Brahim's Holdings Bhd erased eight sen to 14 sen and Dagang NeXchange Bhd was one sen lower at 82 sen.

On the index board, the FBM Emas Index eased 12.09 points to 11,251.38, the FBMT 100 Index decreased 1.41 points to 10,901.37, the FBM Emas Shariah Index dipped 35.95 points to 12,230.54, the FBM ACE weakened 54.09 points to 6,804.14, and the FBM 70 was 69.82 points lower at 14,825.49.    

Sector-wise, the Financial Services Index rose 38.76 points to 15,192.75, the Industrial Products and Services Index trimmed 1.55 points to 198.5, and the Plantation Index bagged 22.54 points to 6,543.9.

The Main Market volume decreased to 2.0 billion shares worth RM2.09 billion from 2.12 billion shares worth RM1.95 billion on Tuesday.  

Warrants turnover rose to 301.88 million units worth RM61.42 million versus 278.47 million units worth RM58.72 million previously.

Volume on the ACE Market improved to 824.87 million shares valued at RM308.96 million from Tuesday’s 758.86 million shares valued at RM251.03 million. 

Consumer products and services counters accounted for 367.02 million shares traded on the Main Market, industrial products and services (658.31 million), construction (61.86 million), technology (325.63 million), SPAC (nil), financial services (59.43 million), property (145.25 million), plantation (12.17 million), REITs (11.87 million), closed/fund (3,000), energy (159.98 million), healthcare (78.55 million), telecommunications and media (18.57 million), transportation and logistics (72.97 million), and utilities (28.11 million).

 

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends marginally higherxx

 

KUALA LUMPUR (Nov 16): Bursa Malaysia ended the day marginally higher on bargain hunting in selected heavyweights led by Nestle (Malaysia) Bhd, PPB Group Bhd and Telekom Malaysia Bhd (TM).

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.55 of-a-point to 1,522.89 after moving between 1,518.93 and 1,528.1 in the course of the day

Nestle rose 20 sen to RM133.30, PPB advanced 18 sen to RM17.38 and TM bagged 10 sen to RM5.70, and together they contributed 1.21 points to the barometer index. 

The index opened 0.87 of-a-point easier at 1,521.47 compared with Monday’s close of 1,522.34.

The broader market remained negative at the close with decliners outpacing gainers 542 to 392, while 451 counters were unchanged, 931 untraded and 45 others suspended.

Turnover fell to 3.15 billion shares worth RM2.26 billion from Monday’s 3.48 billion shares worth RM2.33 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI rebounded after hitting an intraday low of 1,518.93 when buying activities emerged and ended flat after a tight range-bound trading session.

“Key regional markets closed higher as investors reacted positively to news of the leaders of the United States and China being in a virtual summit.

“Back home, the FBM KLCI seems to be quite well supported at 1,520 level; hence we reckon accumulation of stocks to persist on dips,” he told Bernama.

He said at present valuations, bargain-hunting activities were expected to emerge and the FBM KLCI was anticipated to hover in the 1,525-1,540 range for the rest of the week.

Among the heavyweights, Malayan Banking Bhd fell one sen to RM8.09, Public Bank Bhd added one sen to RM4.02, Petronas Chemicals Group Bhd gained two sen to RM8.31, and Tenaga Nasional Bhd was flat at RM9.59.

Of the actives, PDZ Holdings Bhd was one sen lower at 7.5 sen and KNM Group Bhd eased 1.5 sen to 17 sen, but Brahim's Holdings Bhd increased three sen to 22 sen.

Among the top gainers, Mytech Group Bhd rose 73 sen to RM6.58, BSL Corp Bhd perked up 46 sen to RM2.02 and Yinson Holdings Bhd improved 25 sen to RM6.

The top losers were Rapid Synergy Bhd, which slid 75 sen to RM9.21; TAFI Industries Bhd, which shed 70 sen to RM3.03; and Carzo Holdings Bhd, which lost 69 sen to RM2.87.

On the index board, the FBM Emas Index retreated 8.28 points to 11,263.47, the FBMT 100 Index fell three points to 10,902.78, and the FBM Emas Shariah Index decreased 10.38 points to 12,266.49.

The FBM ACE erased 116.64 points to 6,858.23 and the FBM 70 dropped 31.3 points to 14,895.31.

Sector-wise, the Industrial Products and Services Index edged up 0.11 of-a-point to 200.05 while the Plantation Index declined 34.28 points to 6,521.36 and the Financial Services Index was 1.81 points lower at 15,153.99.

The Main Market volume decreased to 2.12 billion shares worth RM1.95 billion from 2.24 billion shares worth RM1.95 billion on Monday.  

Warrants turnover fell to 278.47 million units worth RM58.72 million versus 299.05 million units worth RM55.96 million previously.

Volume on the ACE Market shrank to 758.86 million shares valued at RM251.03 million from Monday’s 936.12 million shares valued at RM322.13 million. 

Consumer products and services counters accounted for 382.74 million shares traded on the Main Market, industrial products and services (583.18 million), construction (120.01 million), technology (317.64 million), SPAC (nil), financial services (50.27 million), property (106.91 million), plantation (13.11 million), REITs (6.12 million), closed/fund (200), energy (269.18 million), healthcare (70.3 million), telecommunications and media (20.65 million), transportation and logistics (151.93 million), and utilities (20.41 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia closes lower on profit-taking in banking, gaming heavyweights

 

KUALA LUMPUR (Nov 15): Bursa Malaysia closed lower on Monday due to profit-taking activities, mainly in banking and gaming heavyweights.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) contracted 8.88 points, or 0.58%, to 1,522.34 after moving between 1,520.27 and 1,534.66 throughout the trading session.

The index opened 0.16 of-a-point higher at 1,531.38 from Friday’s close of 1,531.22.

Decliners led gainers at 656 to 361, while 415 counters were unchanged, 882 untraded and 21 others suspended.

Turnover rose to 3.48 billion shares worth RM2.33 billion from last Friday’s 3.11 billion units valued at RM2.62 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the market sentiment remained cautious as FBM KLCI trended in tight consolidation mode, however, it managed to close above the 1,520 support level.

“Approaching the year-end, we may see some window-dressing activities.

“Furthermore, we believe some bargain-hunting activities will emerge as valuations on the local market remains attractive and we see the benchmark index [moving] between 1,525-1,540 for the week,” he told Bernama.

Thong said from a technical point of view, the immediate support is unchanged at 1,520, followed by the psychological support at 1,500 and resistance at 1,565.

Among the heavyweights, Malayan Banking Bhd and Public Bank Bhd were one sen lower at RM8.10 and RM4.01 respectively, Petronas Chemicals Group Bhd fell two sen to RM8.29 while IHH Healthcare Bhd gained five sen to RM6.48.

Of the actives, MMAG Holdings Bhd increased half-a-sen to 10 sen, Dagang NeXchange Bhd bagged 1.5 sen to 85.5 sen while AirAsia X Bhd was flat at 7.5 sen.

On the index board, the FBM Emas Index lost 57.1 points to 11,271.75, the FBMT 100 Index narrowed 61.53 points to 10,905.78, and the FBM Emas Shariah Index went down 63.15 points to 12,276.87.

The FBM 70 dropped 75.93 points to 14,926.61 and the FBM ACE fell 3.12 points to 6,974.87.

Sector-wise, the Industrial Products and Services Index inched down 1.73 points to 199.94, the Plantation Index contracted 117.3 points to 6,555.64, and the Financial Services Index shrank 49.91 points to 15,155.8.

The Main Market volume increased to 2.24 billion shares worth RM1.95 billion, from 2.04 billion shares worth RM2.22 billion last Friday.  

Warrants turnover improved to 299.05 million units worth RM55.96 million, versus 251.82 million units worth RM55.26 million previously.

Volume on the ACE Market expanded to 936.12 million shares valued at RM322.13 million, from Friday’s 810.81 million shares valued at RM338.01 million. 

Consumer products and services counters accounted for 361.76 million shares traded on the Main Market, industrial products and services (735.96 million), construction (75.69 million), technology (358.89 million), SPAC (nil), financial services (45.8 million), property (139.54 million), plantation (11.95 million), REITs (7.39 million), closed/fund (20,000), energy (147.91 million), healthcare (74.78 million), telecommunications and media (21.26 million), transportation and logistics (249.62 million), and utilities (9.61 million).

 

Source: The Edge

Market Daily Report: Bursa snaps three-day losing streak, KLCI up 0.81%

KUALA LUMPUR (Nov 12): Bursa Malaysia ended higher on Friday (Nov 12) on persistent buying support for financial services as well as healthcare counters amid mixed sentiments on regional markets, dealers said.

At 5pm, the benchmark FBM KLCI settled 12.37 points higher at 1,531.22 from Thursday's close at 1,518.85. 

Malayan Banking Bhd (Maybank) gained 11 sen to RM8.11 and Top Glove Corp Bhd increased 15 sen to RM2.45, lifting the key index higher by a combined 4.49 points.

The KLCI opened 3.84 points higher at 1,522.69 and fluctuated between 1,520.67 and 1,532.64 throughout the day.

The broader market was positive as advancers outpaced decliners 521 to 414, while 459 counters were unchanged, 921 untraded and 19 others suspended.

Turnover rose to 3.11 billion units valued at RM2.62 billion from Thursday’s 3.02 billion units valued at RM2.24 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI rebounded on bargain-hunting activities and foreign buying support.

“The benchmark index gained 0.81% to close at 1,531.22, lifted mainly by gloves and banking counters. Key regional markets also ended higher following overnight gains for tech stocks stateside as the Nasdaq rebounded.

“Chinese/Hong Kong stocks rose on optimism Beijing will ease regulatory curbs to shore up growth,” he told Bernama on Friday.

On the domestic front, he said the local bourse trended higher and managed to close above the 1,520 support level.

Among other heavyweights, Public Bank Bhd was flat at RM4.02, Petronas Chemicals Group Bhd (PetChem) added one sen to RM8.31 and CIMB Group Holdings Bhd went up three sen to RM5.04, while IHH Healthcare Bhd slipped three sen to RM6.43 and Tenaga Nasional Bhd (TNB) declined one sen to RM9.62.

Of the actives, Dagang NeXchange Bhd (DNeX) and LKL International Bhd went up one sen each to 84 sen and 12 sen respectively, AirAsia X Bhd rose 1.5 sen to 7.5 sen, while NWP Holdings Bhd improved two sen to 35.5 sen.

On the index board, the FBM Emas Index increased 87.66 points to 11,328.85, the FBMT 100 Index climbed 90.07 points to 10,967.31, the FBM Emas Shariah Index jumped 106.48 points to 12,340.02 and the FBM 70 surged 128.77 points to 15,002.54, while the FBM ACE advanced 19.71 points to 6,977.99.

Sector-wise, the Industrial Products and Services Index inched up 0.78 of a point to 201.67 and the Plantation Index bagged 56.85 points to 6,672.94, while the Financial Services Index rose 87.46 points to 15,205.71.

Main Market volume increased to 2.04 billion shares worth RM2.22 billion from 1.95 billion shares worth RM1.88 billion on Thursday.  

Warrant turnover decreased to 251.82 million units worth RM55.26 million versus 309.20 million units worth RM57.53 million on Thursday.

ACE Market volume expanded to 810.81 million shares valued at RM338.01 million from Thursday’s 760.56 million shares valued at RM301.63 million. 

Consumer products and services counters accounted for 481.82 million shares traded on the Main Market, followed by industrial products and services (564.35 million), construction (61.22 million), technology (395.52 million), special purpose acquisition companies (nil), financial services (65.24 million), property (165.36 million), plantation (13.16 million), real estate investment trusts (2.61 million), closed/funds (nil), energy (98.40 million), healthcare (115.73 million), telecommunications and media (23.42 million), transportation and logistics (47.06 million) and utilities (7.76 million).

Source: The Edge

Market Daily Report: Bursa ends lower for third consecutive day

 

 

KUALA LUMPUR (Nov 11): Bursa Malaysia ended lower for the third consecutive day on Thursday (Nov 11), dragged by continued profit taking on selected industrial products and services as well as plantation counters amid weaker sentiments on regional markets, dealers said.

At 5pm, the benchmark FBM KLCI closed 1.89 points lower at 1,518.85 from Wednesday's close at 1,520.74. 

Press Metal Aluminium Holdings Bhd and Sime Darby Plantation Bhd shed eight sen each to RM5.29 and RM3.92 respectively, pulling the key index lower by a combined 2.12 points.

The KLCI opened 0.26 of a point lower at 1,520.48 and fluctuated between 1,517.14 and 1,522.72 throughout the day.

The broader market was slightly negative as decliners outpaced advancers 498 to 447, while 418 counters were unchanged, 929 untraded and 18 others suspended.

Turnover declined to 3.02 billion units valued at RM2.24 billion from Wednesday’s 3.43 billion units valued at RM2.32 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said local equities continued to trade range-bound due to the absence of fresh catalysts.

“The KLCI ended lower, losing 0.12% or 1.89 points to 1,518.85. Meanwhile, key regional indices closed broadly higher. Chinese/Hong Kong stocks finished higher on bets that Beijing will relax policies to prevent a sector-wide collapse.

“Japanese stocks rose as investors sought out bargains, hoping that the new government's fresh round of stimulus could shore up the economy,” the analyst told Bernama on Thursday.

Back home, Thong said the KLCI had broken the 1,520 support level and may test the 1,500 psychological level.

“We believe the benchmark index will see some downside, though bargain hunting may emerge as well. As such, we expect the benchmark index to trade within a tight consolidation range of between 1,515 and 1,525 towards the weekend,” he added.

Among the heavyweights, Malayan Banking Bhd (Maybank) and IHH Healthcare Bhd added one sen each to RM8 and RM6.46 respectively, Tenaga Nasional Bhd (TNB) rose five sen to RM9.63, while Public Bank Bhd and Petronas Chemicals Group Bhd (PetChem) were flat at RM4.02 and RM8.30 respectively.

Of the actives, Dagang NeXchange Bhd (DNeX) went up 2.5 sen to 83 sen, Scope Industries Bhd gained 1.5 sen to 46.0 sen, while XOX Bhd and Permaju Industries Bhd earned half a sen each to four sen and seven sen respectively.

On the index board, the FBM Emas Index decreased 25.39 points to 11,241.19, the FBMT 100 Index reduced 23.30 points to 10,877.24, the FBM Emas Shariah Index declined 45.05 points to 12,233.54 and the FBM 70 slipped 69.73 points to 14,873.77, but the FBM ACE advanced 19.70 points to 6,958.28.

Sector-wise, the Industrial Products and Services Index inched down 0.52 of a point to 200.89, the Plantation Index gave up 13.80 points to 6,616.09, while the Financial Services Index improved 24 points to 15,118.25.

Main Market volume slid to 1.95 billion shares worth RM1.88 billion from 2.26 billion shares worth RM1.9 billion on Wednesday.  

Warrant turnover increased to 309.2 million units worth RM57.53 million versus 268.25 million units worth RM42.28 million the day before.

ACE Market volume dwindled to 760.56 million shares valued at RM301.63 million from Wednesday’s 896.43 million shares valued at RM369.91 million. 

Consumer products and services counters accounted for 513.06 million shares traded on the Main Market, followed by industrial products and services (578.85 million), construction (51.06 million), technology (381.63 million), special purpose acquisition companies (nil), financial services (72.09 million), property (106.71 million), plantation (12.41 million), real estate investment trusts (3.23 million), closed/funds (9,000), energy (126.96 million), healthcare (32.9 million), telecommunications and media (12.22 million), transportation and logistics (49.78 million) and utilities (7.82 million).

 

 

Source: The Edge

Market Daily Report: Selling of selected heavyweights drags Bursa lower at close

 

KUALA LUMPUR (Nov 10): Bursa Malaysia ended lower on Wednesday (Nov 10), driven by continued profit taking on telecommunications and media as well as consumer products and services counters amid weaker sentiments on regional markets, dealers said.

At 5pm, the benchmark FBM KLCI closed 3.29 points lower at 1,520.74 from Tuesday's close at 1,524.03. 

Axiata Group Bhd shed four sen to RM3.84, while MR DIY Group (M) Bhd fell five sen to RM3.65, dragging the key index lower by a combined 1.20 points.

The KLCI opened two points higher at 1,526.03 and fluctuated between 1,516.75 and 1,526.15 throughout the day.

The broader market was negative as decliners outpaced gainers 502 to 428, while 451 counters were unchanged, 903 untraded and 17 others suspended.

Turnover was slightly higher at 3.43 billion units valued at RM2.32 billion from Tuesday’s 3.11 billion units valued at RM2.39 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI remained under pressure due to lack of buying interest while market sentiment was further dampened by the spillover effect of the regional selldown.

“The benchmark index fell by 0.22% or 3.29 points to end at 1,520.74, dragged down mainly by banks, gloves and gaming stocks. Key regional markets also ended broadly lower following overnight losses on Wall Street,” he told Bernama on Wednesday.

Meanwhile, Thong said investors took a cautious stance amid the US producer price inflation data and looked ahead to the crucial consumer price inflation data.

“Back home, the KLCI succumbed to more intense selling as it was hovering just around the crucial 1,520 level. If the 1,520 level is broken, we see the 1,500 as the immediate psychological support level followed by the next critical support at around 1,490.

“Though we expect some bargain hunting to emerge, broad market sentiments have turned jittery as we reckon the index to move around the 1,520-1,530 range for the remainder of the week,” he added.

Among the heavyweights, Malayan Banking Bhd (Maybank) and IHH Healthcare Bhd were flat at RM7.99 and RM6.45 respectively, Public Bank Bhd fell one sen to RM4.02 and Tenaga Nasional Bhd (TNB) shed three sen to RM9.58, while Petronas Chemicals Group Bhd (PetChem) added one sen to RM8.30.

Of the actives, Eduspec Holdings Bhd was flat at 1.5 sen and KNM Group Bhd slipped 1.5 sen to 19 sen, while Scope Industries Bhd rose 4.5 sen to 44.5 sen and Solution Group Bhd improved 20.5 sen to 63 sen.

On the index board, the FBM Emas Index decreased 22.79 points to 11,266.58, the FBMT 100 Index reduced 19.04 points to 10,900.54, the FBM Emas Shariah Index declined 19.45 points to 12,278.59 and the FBM 70 slipped 8.40 points to 14,943.50, but the FBM ACE advanced 22.01 points to 6,938.58.

Sector-wise, the Industrial Products and Services Index inched up 0.19 of a point to 201.41, the Plantation Index gave up 21.97 points to 6,629.89 and the Financial Services Index shed 35.86 points to 15,094.25.

Main Market volume rose to 2.26 billion shares worth RM1.9 billion from 1.99 billion shares worth RM2.07 billion on Tuesday.  

Warrant turnover increased to 268.25 million units worth RM42.28 million versus 171.7 million units worth RM27.22 million on Tuesday.

ACE Market volume narrowed to 896.43 million shares valued at RM369.91 million from Tuesday’s 934.31 million shares valued at RM296.8 million. 

Consumer products and services counters accounted for 358.09 million shares traded on the Main Market, followed by industrial products and services (807.97 million), construction (105.32 million), technology (286.86 million), special purpose acquisition companies (nil), financial services (60.56 million), property (200.419 million), plantation (10.97 million), real estate investment trusts (5.62 million), closed/funds (7,500), energy (304.547 million), healthcare (43.96 million), telecommunications and media (25.69 million), transportation and logistics (47.2 million) as well as utilities (6.65 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia closes lower on continued profit-taking

 

KUALA LUMPUR (Nov 9): Bursa Malaysia ended lower on Tuesday, driven by continued profit-taking in the industrial products and services as well as plantation counters, amid mixed sentiments on the regional markets, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 11.38 points to 1,524.03 from Monday's close of 1,535.41. 

Press Metal Aluminium Holdings Bhd shed nine sen to RM5.31 while IOI Corp Bhd fell 10 sen to RM3.81, dragging the key index by a combined 2.3 points.

The FBM KLCI opened 0.14 of-a-point higher at 1,535.55 and fluctuated between 1,520.08 and 1,536.16 throughout the trading session.

However, the broader market was negative as decliners outpaced gainers 653 to 311, while 441 counters were unchanged, 872 untraded and 18 others suspended.

Turnover was slightly higher at 3.11 billion units valued at RM2.39 billion from Monday’s 3.10 billion units valued at RM2.13 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said local equities closed lower after a lacklustre trading session as investors seemed reluctant to make more significant moves following the previous week's selldown.

“Nonetheless, we viewed today's selldown as a good opportunity for bargain-hunting as valuations of local equities remain attractive, particularly the blue chips.

“Moreover, with the Malaysia/Singapore border set to reopen by end-November, sentiments should further improve as the domestic economy gets better,” he told Bernama on Tuesday.

Additionally, he said Brent crude remains above US$80 per barrel and he reckoned this as buying opportunity for local oil and gas (O&G) stocks.

“We expect the index to hover within the 1,530-1,550 range for the remainder of the week. Technically, immediate support is unchanged at 1,520, followed by the psychological support at 1,500 while resistance is at 1,565,” he added.

Among the heavyweights, Malayan Banking Bhd fell two sen to RM7.99, Public Bank Bhd and Petronas Chemicals Group Bhd shed one sen each to RM4.03 and RM8.29 respectively, while IHH Healthcare Bhd and Tenaga Nasional Bhd slipped six sen each to RM6.45 and RM9.61 respectively.

Of the actives, Eduspec Holdings Bhd eased half-a-sen to 1.5 sen, while Saudee Group Bhd, Lambo Group Bhd and KNM Group Bhd slipped one sen each to 6.5 sen, 5.5 sen and 20.5 sen respectively.

On the index board, the FBM Emas Index decreased 75.76 points to 11,289.37, the FBMT 100 Index reduced 78.01 points to 10,919.58, the FBM Emas Shariah Index declined 100.41 points to 12,298.04, the FBM 70 slipped 93.06 points to 14,951.9, and the FBM ACE dipped 137.26 points to 6,916.57.

Sector-wise, the Industrial Products and Services Index inched down 1.18 points to 201.22, the Plantation Index gave up 77.3 points to 6,651.86, and the Financial Services Index shed 41.18 points to 15,130.11.

The Main Market volume declined to 1.99 billion shares worth RM2.07 billion from 2.06 billion shares worth RM1.79 billion on Monday.  

Warrants turnover decreased to 171.7 million units worth RM27.22 million versus 182.81 million units worth RM26.59 million previously.

Volume on the ACE Market widened to 934.31 million shares valued at RM296.8 million from Monday’s 848.27 million shares valued at RM313.23 million. 

Consumer products and services counters accounted for 451.88 million shares traded on the Main Market, industrial products and services (621.4 million), construction (54.68 million), technology (262.34 million), SPAC (nil), financial services (70.05 million), property (159.89 million), plantation (19.68 million), REITs (3.73 million), closed/fund (15,000), energy (197.87 million), healthcare (53.38 million), telecommunications and media (36.6 million), transportation and logistics (55.4 million), and utilities (7.4 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia closes mixed

 

KUALA LUMPUR (Nov 8): Bursa Malaysia ended mixed on Monday with the barometer index closing higher as consistent buying support from the consumer products and services as well as plantation counters halted the downtrend, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.68 points to 1,535.41 from Friday's close of 1,531.73. 

Petronas Dagangan Bhd gained 88 sen to RM20.68 while Kuala Lumpur Kepong Bhd added 38 sen to RM21.08, lifting the key index by a combined 2.28 points.

The FBM KLCI opened 2.48 points higher at 1,534.21 and fluctuated between 1,531.42 and 1,538.12 throughout the trading session.

However, the broader market was negative as decliners outpaced gainers 571 to 415, while 427 counters were unchanged, 876 untraded and 27 others suspended.

Turnover slipped to 3.1 billion units valued at RM2.13 billion from Friday’s 3.15 billion units valued at RM2.32 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama on Monday that the FBM KLCI closed higher due to bargain-hunting activities and foreign buying.

“The benchmark index gained 0.24% or 3.68 points to end at 1,535.41, lifted mainly by gaming, banking and oil and gas (O&G) counters. Key regional markets ended mixed on mixed sentiment.

“Investors continue to monitor the impact of inflation on both monetary policy and the pace of economic recovery while [remaining] cautious ahead of the corporate earnings season,” he said.

Back home, he said, bargain-hunting activities are expected to continue given the attractive valuations on the local market compared to regional peers.

“We anticipate the index to trend within the 1,535-1,550 range for the week. Technically, immediate support is unchanged at 1,520 while resistance is at 1,565,” he added.

Among the heavyweights, Malayan Banking Bhd and Petronas Chemicals Group Bhd were flat at RM8.01 and RM8.30 respectively, IHH Healthcare Bhd slipped seven sen to RM6.51 while Public Bank Bhd added one sen to RM4.04 and Tenaga Nasional Bhd improved six sen to RM9.67.

Of the actives, Ecomate Holdings Bhd jumped 15.5 sen to 48.5 sen, NWP Holdings Bhd advanced two sen to 34 sen, KNM Group Bhd earned half-a-sen to 21.5 sen while Kanger International Bhd was flat at 3.5 sen.

On the index board, the FBM Emas Index increased one point to 11,365.13, the FBMT 100 Index gained 6.66 points to 10,997.59, the FBM Emas Shariah Index declined 13.29 points to 12,398.45, the FBM 70 slipped 67.56 points to 15,044.96, and the FBM ACE dipped 70.66 points to 7,053.83.

Sector-wise, the Industrial Products and Services Index inched down 0.16 of-a-point to 202.4, the Plantation Index improved 2.59 points to 6,729.16, and the Financial Services Index perked 4.41 points to 15,171.29.

The Main Market volume declined to 2.06 billion shares worth RM1.79 billion from 2.15 billion shares worth RM1.97 billion on Friday.  

Warrants turnover decreased to 182.81 million units worth RM26.59 million versus 241.21 million units worth RM43.46 million previously.

Volume on the ACE Market widened to 848.27 million shares valued at RM313.23 million from Friday’s 752.96 million shares valued at RM310.93 million. 

Consumer products and services counters accounted for 377.5 million shares traded on the Main Market, industrial products and services (778.37 million), construction (125.87 million), technology (244.4 million), SPAC (nil), financial services (47.12 million), property (135.84 million), plantation (19.29 million), REITs (4.27 million), closed/fund (4,100), energy (206.42 million), healthcare (38.54 million), telecommunications and media (16.74 million), transportation and logistics (49.1 million), and utilities (12.13 million).

 

Source: The Edge

Market Daily Report: Bargain hunting lifts KLCI marginally higher at close

 

KUALA LUMPUR (Nov 5): Bursa Malaysia ended the week on a mixed note on Friday with the barometer index lifted marginally higher by late bargain hunting in selected heavyweights, led by telecommunications and media sector, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.4 of-a-point to 1,531.73 from Wednesday's close of 1,531.33. 

Maxis Bhd gained 12 sen to RM4.70 and Digi.Com Bhd added 10 sen to RM4.30, both of which lifted the key index by a combined 3.06 points.

The FBM KLCI opened 4.44 points higher at 1,535.77 and fluctuated between 1,525.45 and 1,540.61 throughout the trading session.

The market was closed on Thursday for Deepavali.

However, the broader market was negative as decliners outpaced gainers 582 to 441, while 446 counters were unchanged, 822 untraded, and 31 others suspended.

Turnover slipped to 3.15 billion units valued at RM2.32 billion from Wednesday’s 3.42 billion units valued at RM2.35 billion.

A dealer said Bursa Malaysia opened higher on Friday, taking a cue from the stronger overnight Nasdaq performance, as investors mulled the US Federal Reserve’s decision to begin tapering asset purchases later this month.

He said the market turned lower at mid-morning as investors off-loaded heavyweight stocks, but ended marginally higher on last-minute buying support.

The market also saw technology stock Malaysian Pacific Industries Bhd (MPI) as the top gainer on Friday, rising 98 sen to RM48.98, he noted. 

“However, the local bourse's upside potential was seen still limited by market sentiment brought on by the Budget 2022 prosperity tax and stamp duty changes, which continued to be unfavourable to investors,” he said.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama despite rebounding on last-minute buying, the FBM KLCI remained in consolidation mode amid a lacklustre trading day.

“The performance was in line with key regional markets which ended mostly lower as selldown on China and Hong Kong property stocks dampened investor sentiment,” he said.

Regionally, Japan's Nikkei 225 slipped 0.61% to 29,611.74, Hong Kong’s Hang Seng Index fell 1.41% to 24,870.51, South Korea’s Kospi shaved off 0.47% to 2,969.27, while Singapore’s Straits Times Index improved 0.6% to 3,238.9.

Among the heavyweights, Malayan Banking Bhd added one sen to RM8.01, IHH Healthcare Bhd bagged six sen to RM6.58 and Tenaga Nasional Bhd increased three sen to RM9.61, while Public Bank Bhd and Petronas Chemicals Group Bhd reduced one sen each to RM4.03 and RM8.30 respectively.

Of the actives, NWP Holdings Bhd perked up two sen to 32 sen, KNM Group Bhd and Scope Industries Bhd rose 1.5 sen each to 21 sen and 40 sen respectively, ARB Bhd slipped seven sen to 20 sen, and Alam Maritim Resources Bhd shed 1.5 sen to three sen.

On the index board, the FBM Emas Index increased 5.62 points to 11,364.13, the FBMT 100 Index gained 6.17 points to 10,990.93, the FBM Emas Shariah Index added 12.09 points to 12,411.74, the FBM 70 rose 21.31 points to 15,112.52, and the FBM ACE advanced 50.53 points to 7,124.49.

Sector-wise, the Industrial Products and Services Index inched down 0.49 of-a-point to 202.56, the Plantation Index gave up 61.93 points to 6,726.57, and the Financial Services Index fell 20.21 points to 15,166.88.

The Main Market volume declined to 2.15 billion shares worth RM1.97 billion from 2.29 billion shares worth RM2 billion on Wednesday.  

Warrants turnover decreased to 241.21 million units worth RM43.46 million versus 264.64 million units worth RM42.79 million previously.

Volume on the ACE Market shrank to 752.96 million shares valued at RM310.93 million from Wednesday’s 856.9 million shares valued at RM313.42 million. 

Consumer products and services counters accounted for 226.68 million shares traded on the Main Market, industrial products and services (708.53 million), construction (122.21 million), technology (378.23 million), SPAC (nil), financial services (61.87 million), property (166.28 million), plantation (22.58 million), REITs (3.92 million), closed/fund (8,400), energy (332.13 million), healthcare (46.57 million), telecommunications and media (21.67 million), transportation and logistics (48.82 million), and utilities (14.56 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends lower on selling of heavyweights

 

KUALA LUMPUR (Nov 3): Bursa Malaysia ended lower on Wednesday as investors offloaded selected heavyweight stocks, led by Top Glove Corporation Bhd and Maxis Bhd, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 6.3 points to 1,531.33 from Tuesday's close of 1,537.63. 

Top Glove and Maxis shed nine sen each to RM2.49 and RM4.58 respectively, altogether dragging the barometer index down by 2.58 points.

The index, which opened 5.52 points higher at 1,543.15, fluctuated between 1,530.35 and 1,543.87 during the day.

On the broader market, decliners outpaced gainers 647 to 322, while 443 counters were unchanged, 863 untraded, and 19 others suspended.

Turnover slipped to 3.42 billion units valued at RM2.35 billion from Tuesday’s 3.65 billion units valued at RM2.71 billion. 

A dealer said Bursa Malaysia had opened higher after taking its cue from the stronger Wall Street performance overnight, but turned lower across the board at mid-morning on Wednesday, except for the healthcare and financial services sectors, which saw continued buying interest and supported the barometer index.

He said the local bourse’s performance was in line with regional peers which ended mostly lower on Wednesday as investors awaited comments from the US Federal Reserve’s policy meeting later for market direction.

“The US central bank is expected to disclose plans to ease pandemic stimulus measures and boost the economy,” he said.

Regionally, Singapore’s Straits Times Index trimmed 0.37% to 3,220.4, South Korea’s Kospi fell 1.25% to 2,975.71 and Hong Kong’s Hang Seng Index shed 0.3% to 25,024.75 while Japan is closed for a holiday.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid told Bernama that the FBM KLCI is still reeling from the impact of Cukai Makmur or prosperity tax as corporates will need to take into account the impact of the windfall tax on their earnings. 

“Despite that, we saw foreign investors recording net purchases [on Tuesday,] amounting to RM59.85 million compared to net purchases of RM14.97 million on Monday as they saw values emerging in some the local stocks and started to acquire,” he said.

On another note, he said the latest move by Bank Negara Malaysia to maintain the Overnight Policy Rate (OPR) at 1.75% on Wednesday indicated that the central bank is committed to ensuring that the monetary policy remains supportive of the country’s economy.

“This would mean the cost of funds remains competitive, thereby stimulating capital expenditure among the firms. In the meantime, we expect range-bound trade amid the holiday-shortened week,” he added.

Among the heavyweights, Malayan Banking Bhd gained one sen to RM8, Petronas Chemicals Group Bhd added three sen to RM8.31, IHH Healthcare Bhd rose six sen to RM6.52, Tenaga Nasional Bhd eased two sen to RM9.58 while Public Bank Bhd was flat at RM4.04.

Of the actives, NWP Holdings Bhd bagged six sen to 30 sen, Sedania Innovator Bhd perked up 6.5 sen to 69.5 sen, Dagang NeXchange Bhd reduced four sen to 78.5 sen, AirAsia X Bhd slid one sen to 4.5 sen while Sapura Energy Bhd was flat at 10 sen.

On the index boards, the FBM Emas Index decreased 39.98 points to 11,358.51, the FBMT 100 Index declined 32.29 points to 10,984.73, the FBM Emas Shariah Index slipped 57.94 points to 12,399.65 and the FBM ACE contracted 48.51 points to 7,073.96.

However, the FBM 70 improved 5.91 points to 15,091.21.

Sector-wise, the Industrial Products and Services Index eased 0.3 of-a-point to 203.05, the Plantation Index gave up 54.42 points to 6,788.5 while the Financial Services Index inched up 7.28 points to 15,187.09.

The Main Market volume declined to 2.29 billion shares worth RM2 billion from 2.35 billion shares worth RM2.33 billion on Tuesday.  

Warrants turnover decreased to 264.64 million units worth RM42.79 million versus 395.01 million units worth RM72.67 million on Tuesday.

Volume on the ACE Market fell to 856.9 million shares valued at RM313.42 million from Tuesday’s 908.16 million shares valued at RM304.85 million. 

Consumer products and services counters accounted for 382.18 million shares traded on the Main Market, industrial products and services (826.08 million), construction (188.99 million), technology (315.82 million), SPAC (nil), financial services (56.11 million), property (136.43 million), plantation (15.86 million), REITs (6.02 million), closed/fund (2,200), energy (202.90 million), healthcare (57.09 million), telecommunications and media (22 million), transportation and logistics (66.29 million), and utilities (18.38 million).

Bursa Malaysia and its subsidiaries will be closed on Thursday in conjunction with Deepavali.

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends firmer on bargain hunting

 

KUALA LUMPUR (Nov 2): Bursa Malaysia ended on a positive note on Tuesday on bargain hunting as investors picked up beaten-down counters after Monday's sharp fall, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.71 points to 1,537.63 from Monday's close of 1,530.92. 

The index, which opened 1.29 points firmer at 1,532.21, fluctuated between 1,532.21 and 1,544 during the day.

On the broader market, gainers outpaced losers 629 to 404, while 434 counters were unchanged, 808 untraded, and 15 others suspended.

Turnover rose to 3.65 billion units valued at RM2.71 billion from Monday’s 3.47 billion units valued at RM3.23 billion. 

A dealer said Bursa Malaysia remained in the positive territory since the opening bell on Tuesday morning, taking cues from a stronger Wall Street performance overnight, which saw the US market hovering around record highs on optimism over corporate earnings and gains for energy shares and Tesla.

“The local bourse’s performance bucked the regional trend which closed mostly lower as investors remained cautious ahead of a policy decision by the US Federal Reserve on Wednesday as well as other key central banks’ for further market direction,” he said.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the rise in Bursa Malaysia's benchmark index was mainly lifted by banking and gaming heavyweights.

“The FBM KLCI seemed to be quite well supported at the 1,520 to 1,530 level, hence we reckon an accumulation of stocks to persist on dips, especially the blue chip stocks wherein valuations are currently hovering at attractive levels.

“Notwithstanding the heightened volatility, we expect the index to move between the 1,530 and 1,560 range for the remaining of the week. From a technical point of view, we will see the immediate support at 1,520 and resistance at 1,565,” he told Bernama.

Regionally, Japan’s Nikkei 225 decreased 0.43% to 29,520.9, Singapore’s Straits Times Index added 0.39% to 3,231.51, and South Korea’s Kospi rose 1.16% to 3,013.49, while Hong Kong’s Hang Seng Index fell 0.22% to 25,099.67.

Among the heavyweights, Petronas Chemicals Group Bhd shed seven sen to RM8.28, IHH Healthcare Bhd eased two sen to RM6.46, while Malayan Banking Bhd, Public Bank Bhd and Tenaga Nasional Bhd were all flat at RM7.99, RM4.04 and RM9.60 respectively.

Of the actives, Dagang NeXchange Bhd increased 5.5 sen to 82.5 sen, Top Builders Capital Bhd slipped three sen to 2.5 sen, and AirAsia X Bhd lost two sen to 5.5 sen, while both Kanger International Bhd and Ta Win Holdings Bhd were flat at four sen and 15.5 sen, respectively.

On the index board, the FBM Emas Index strengthened 68.32 points to 11,398.49, the FBMT 100 Index rose 57.52 points to 11,017.02, the FBM 70 went up 115.51 points to 15,085.3, the FBM Emas Shariah Index jumped 91.52 points to 12,457.59, and the FBM ACE advanced 72.24 points to 7,122.47.

Sector-wise, the Industrial Products and Services Index added 1.21 points to 203.35, the Plantation Index rose 129.51 points to 6,842.92, and the Financial Services Index improved 22.54 points to 15,179.81.

The Main Market volume improved to 2.35 billion shares worth RM2.33 billion from 2.27 billion shares worth RM2.89 billion on Monday.  

Warrants turnover increased to 395.01 million units worth RM72.67 million versus 351.95 million units worth RM52.52 million on Monday.

Volume on the ACE Market rose to 908.16 million shares valued at RM304.85 million from Monday’s 838.38 million shares valued at RM288.84 million. 

Consumer products and services counters accounted for 349.11 million shares traded on the Main Market, industrial products and services (697.92 million), construction (221.12 million), technology (414.12 million), SPAC (nil), financial services (90.49 million), property (157.45 million), plantation (20.57 million), REITs (6.34 million), closed/fund (3,500), energy (195.3 million), healthcare (48.31 million), telecommunications and media (27.31 million), transportation and logistics (109.94 million), and utilities (10.83 million).

 

Source: The Edge

Market Daily Report: Bursa ends sharply lower, KLCI down 2%

 

KUALA LUMPUR (Nov 1): Bursa Malaysia ended sharply lower with selling pressure seen across the board as investors reacted negatively to the one-off prosperity tax tabled during Budget 2022, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 31.39 points, or 2.01%, to 1,530.92 from Friday's close of 1,562.31.

The index, which opened 16.32 points lower at 1,545.99, fluctuated between 1,526.04 and 1,545.99 during the day's session.

On the broader market, losers thumped gainers 996 to 178, while 327 counters were unchanged, 773 untraded and 14 others suspended.

Turnover rose to 3.47 billion units valued at RM3.23 billion from Friday’s 3.03 billion units valued at RM2.35 billion. 

A dealer said Bursa Malaysia stayed in negative territory since the market opened on Monday despite a stronger close on Wall Street last Friday, as the proposed one-off prosperity tax was received unfavourably and weighed down market sentiment.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the benchmark index was dragged down mainly by banking heavyweights.

“However, we believed the valuation of the local market remained attractive despite the Prosperity Tax as compared to regional peers.

“We reckoned the FBM KLCI to trade in a wider range due to greater volatility.

“For the week, we expect the benchmark index to consolidate further, with immediate support at 1,520 followed by the psychological support at around 1,500 while resistance at 1,550 and then 1,580,” he told Bernama.

Regionally, he noted the equities markets were mixed with Japanese equities ending higher as investors cheered general election results showing a victory for Prime Minister Fumio Kishida.

On the other hand, Chinese and Hong Kong equities retreated after data showed Chinese factory activity shrank last month, pointing to further weakness in the world's number two economy, he added.

Japan’s Nikkei 225 increased 2.61% to 29,647.08, the Singapore’s Straits Times Index added 0.66% to 3,219.35 and South Korea’s Kospi improved 0.28% to 2,978.94, but Hong Kong’s Hang Seng Index fell 0.88% to 25,154.32.

Among the heavyweights, Malayan Banking Bhd, IHH Healthcare Bhd and Tenaga Nasional Bhd shed six sen each to RM7.99, RM6.48 and at RM9.60 respectively, Public Bank Bhd fell 13 sen to RM4.04 while Petronas Chemicals Group Bhd dropped 34 sen to RM8.35.

Of the actives, AirAsia X Bhd lost two sen to 7.5 sen, KNM Group Bhd slid 1.5 sen to 19 sen, Hextar Industries Bhd added three sen to 17.5 sen while MMAG Holdings Bhd and Ta Win Holdings Bhd were flat at 10.5 sen and 15.5 sen respectively.

On the index board, the FBM Emas Index decreased 228.83 points to 11,330.17, the FBMT 100 Index dipped 229.59 points to 10,959.5, the FBM 70 went down 332.58 points to 14,969.79, the FBM Emas Shariah Index erased 225.52 points to 12,366.07, and the FBM ACE reduced 45.94 points to 7,050.23.  

Sector-wise, the Industrial Products and Services Index eased 4.65 points to 202.14, the Plantation Index lost 75.41 points to 6,713.41, and the Financial Services Index tumbled 431.94 points to 15,157.27.  

The Main Market volume went up to 2.27 billion shares worth RM2.89 billion from 2.01 billion shares worth RM2.09 billion on Friday.  

Warrants turnover increased to 351.95 million units worth RM52.52 million versus 217.27 million units worth RM33.86 million previously.

Volume on the ACE Market rose to 838.38 million shares valued at RM288.84 million from Friday’s 804.57 million shares valued at RM230.11 million. 

Consumer products and services counters accounted for 331.17 million shares traded on the Main Market, industrial products and services (757.93 million), construction (114.81 million), technology (232.81 million), SPAC (nil), financial services (188.63 million), property (231.03 million), plantation (27.78 million), REITs (4.89 million), closed/fund (26,600), energy (219.85 million), healthcare (35.05 million), telecommunications and media (43.87 million), transportation and logistics (69.21 million), and utilities (15.85 million).

 

Source: The Edge