Market Daily Report: KLCI closes in the red ahead of CNY celebrations

 

KUALA LUMPUR (Jan 31): Bursa Malaysia ended its half-day trading session on Monday (Jan 31) mixed as investors remained on the sidelines ahead of the Chinese New Year celebrations, an analyst said. 

At 12.30pm, the benchmark FBM KLCI settled down 0.51% or 7.75 points at 1,512.27 from 1,520.02 at last Friday's close.

The key index, which opened 0.3 of a point lower at 1,519.72, moved between 1,512.27 and 1,523.63 during the session. 

Overall market breadth was positive with gainers outpacing losers 452 to 324, while 372 counters were unchanged, 1,100 untraded, and 52 others suspended.

Total turnover declined to 1.21 billion units valued at RM1.09 billion versus the two billion units worth RM1.54 billion recorded for last Friday’s full-day session. 

A dealer said among the indices, the plantation index dropped 114.64 points to 6,535.47, mainly dragged by Sime Darby Plantation Bhd (SDP).

Last Friday, the US Customs and Border Protection issued a notice of finding which determined that certain SDP palm oil products were produced using convict, forced or indentured labour.

SDP shares slid 30 sen to RM3.53, with 5.89 million shares transacted, at Monday’s close.

Among other heavyweights, Malayan Banking Bhd (Maybank) fell four sen to RM8.27, Public Bank Bhd and Petronas Chemicals Group Bhd (PetChem) eased one sen each to RM4.21 and RM8.89 respectively, while IHH Healthcare Bhd advanced five sen to RM6.45.

Of the most active stocks, SMTrack Bhd and AHB Holdings Bhd stayed flat at 16 sen and 13 sen respectively, while Hibiscus Petroleum Bhd gained six sen to RM1.01, Opcom Holdings Bhd rose one sen to RM1.06 and Pertama Digital Bhd added 12 sen to 78.5 sen.

On the index board, the FBM ACE gained 31.18 points to 6,090.21, FBM 70 increased 21.25 points to 13,382.46, FBM Emas Index dropped 28.81 points to 10,872.23, FBMT 100 Index declined 38.25 points to 10,568.91 and the FBM Emas Shariah Index fell 11.49 points to 11,569.10.

Sector-wise, the Financial Services Index perked up 15.52 points to 15,779.64, the Industrial Products and Services Index was 0.86 of a point firmer at 200.41, and the Plantation Index climbed 17.93 points to 6,650.11.

Main Market volume decreased to 796.41 million shares worth RM951.35 million from last Friday’s 1.21 billion shares valued at RM1.3 billion. 

Warrant turnover narrowed to 128.98 million units valued at RM15.01 million, compared with 259.79 million units valued at RM31.15 million last Friday.

ACE Market volume narrowed to 286.891 million shares worth RM124.71 million against 524.78 million shares worth RM202.22 million previously.

Consumer products and services counters accounted for 237.44 million shares traded on the Main Market, followed by industrial products and services (148.24 million), construction (28.46 million), technology (93.06 million), special purpose acquisition companies (nil), financial services (39.12 million), property (39.02 million), plantation (26.39 million), real estate investment trusts (3.29 million), closed/fund (5,000), energy (106.64 million), healthcare (39.41 million), telecommunications and media (15.11 million), transportation and logistics (14.63 million), and utilities (5.61 million).

Bursa will be closed on Tuesday and Wednesday for the Chinese New Year holiday, and resume trading on Thursday (Feb 3).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends broadly higher

 

KUALA LUMPUR (Jan 28): Bursa Malaysia ended the week broadly higher due to bargain-hunting activities in the lower liners and technology stocks, an analyst said. 

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 0.27% or 4.03 points to 1,520.02 from 1,515.99 at Thursday's close.

The key index, which opened 2.26 points higher at 1,518.25, moved between 1,517.96 and 1,522.95 during the trading session. 

Overall market breadth was positive with gainers outpacing losers 494 to 361, while 441 counters were unchanged, 972 untraded, and 79 others suspended.

Total turnover declined to 2.00 billion units valued at RM1.54 billion versus Thursday’s 2.22 billion units worth RM1.77 billion. 

According to the analyst, the higher earnings in Apple Inc has somewhat lifted interest in the technology sector, as well as the Technology index. 

Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said bargain hunting also emerged for banking stocks.

“Besides, the uptrend in crude palm oil and Brent crude, which stayed above RM5,600 per tonne and close to US$90 per barrel, respectively, has also attracted some buying interest on plantation and oil and gas stocks,” he told Bernama.

Regionally, Japan's Nikkei 225 gained 2.09% despite the negative cues overnight from Wall Street as investors picked up stocks at bargain prices following the recent sell-offs.

Among other heavyweights, Malayan Banking Bhd and Public Bank Bhd added one sen at RM8.31 and RM4.22 respectively, Petronas Chemicals Group Bhd was flat at RM8.90, IHH Healthcare Bhd rose two sen to RM6.40, and CIMB Group Holdings Bhd increased three sen to RM5.28.

As for the most actives, SMTrack Bhd lost half-a-sen to 16 sen, AHB Holdings Bhd added 2.5 sen to 13 sen, Dagang NeXchange Bhd was 1.5 sen higher at 93.5 sen, while Opcom Holdings Bhd rose five sen to RM1.05.

On the index board, the FBM ACE gained 60.66 points to 6,059.03, FBM 70 increased 12.97 points to 13,361.21, FBM Emas Index went up 28.93 points to 10,901.04, FBMT 100 Index ticked up 24.16 points to 10,607.16, and the FBM Emas Shariah Index added 33.93 points to 11,580.59.

Sector-wise, the Financial Services Index perked up 15.52 points to 15,779.64, the Industrial Products and Services Index was 0.86 of-a-point firmer at 200.41, while the Plantation Index climbed 17.93 points to 6,650.11.

The Main Market volume dipped to 1.21 billion shares worth RM1.3 billion versus Thursday’s 1.44 billion shares valued at RM1.54 billion. 

Warrants turnover narrowed to 259.79 million units valued at RM31.15 million from 277.33 million units worth RM35.12 million on Thursday.   

The ACE Market volume expanded to 524.78 million shares worth RM202.22 million against 499.54 million shares valued at RM202.41 million previously.   

Consumer products and services counters accounted for 273.65 million shares traded on the Main Market, industrial products and services (236.6 million), construction (97.39 million), technology (214.52 million), SPAC (nil), financial services (54.42 million), property (113.31 million), plantation (29.13 million), REITs (4.14 million), closed/fund (90,000), energy (93.01 million), healthcare (47.26 million), telecommunications and media (13.94 million), transportation and logistics (31.03 million), and utilities (7.86 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia rebounds on bargain hunting at final hour

 

KUALA LUMPUR (Jan 27): Bursa Malaysia rebounded to end marginally higher due to bargain-hunting activities during the final hour of trading, said an analyst.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.02% or 0.23 of-a-point to 1,515.99 from 1,515.76 at Wednesday's close.

The key index which opened 0.72 of-a-point higher at 1,516.48, moved between 1,510.64 and 1,518.61 during the trading session. 

The overall market breadth was, however, negative with losers outpacing gainers 589 to 329, while 395 counters were unchanged, 947 untraded, and 31 others suspended.

Total turnover declined to 2.22 billion units valued at RM1.77 billion versus Wednesday’s 2.36 billion units worth RM1.84 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices, meanwhile, closed mostly lower as investors weighed the likelihood that the US Federal Reserve would raise interest rates in March.

Elsewhere, geopolitical tension surrounding Russia exerted additional downside pressure on equity markets globally.

“As for the local bourse, we reckon investor sentiment will remain soft for a short period due to the abovementioned factors, hence we anticipate the index to trend around the 1,510-1,520 range towards the weekend,” he told Bernama. 

Gainers were led by Kuala Lumpur Kepong Bhd, which added 22 sen to RM21.72, Nestle (Malaysia) Bhd, which gained 20 sen to RM133, and Hartalega Holdings Bhd, which rose 11 sen to RM5.60.

Among other heavyweights, Malayan Banking Bhd was flat at RM8.30, Public Bank Bhd added one sen to RM4.21, Petronas Chemicals Group Bhd fell two sen to RM8.90, IHH Healthcare Bhd improved two sen to RM6.38 while CIMB Group Holdings Bhd eased one sen to RM5.25.

As for the most actives, Dagang NeXchange Bhd was down 2.5 sen to 92 sen, Hibiscus Petroleum Bhd rose nine sen to 97 sen, and Dataprep Holdings Bhd was five sen higher at 61.5 sen. 

On the index board, the FBM ACE slid 85.64 points to 5,998.37, FBM 70 slipped 85.04 points to 13,348.23, FBM Emas Index went down 16.01 points to 10,872.11, FBMT 100 Index erased 13.83 points to 10,583, and FBM Emas Shariah Index decreased 23.53 points to 11,546.66.

Sector-wise, the Financial Services Index gained 17.22 points to 15,764.11, the Industrial Products and Services Index eased 0.74 of-a-point to 199.55, while the Plantation Index increased 34.2 points to 6,632.18.

The Main Market volume increased to 1.44 billion shares worth RM1.54 billion versus Wednesday’s 1.35 billion shares valued at RM1.54 billion. 

Warrants turnover narrowed to 277.33 million units valued at RM35.12 million from 368.75 million units worth RM34.8 million on Wednesday.   

The ACE Market volume dwindled to 499.54 million shares worth RM202.41 million against 638.41 million shares valued at RM261.51 million on Wednesday.   

Consumer products and services counters accounted for 195.56 million shares traded on the Main Market, industrial products and services (381.73 million), construction (71.32 million), technology (346.12 million), SPAC (nil), financial services (50.89 million), property (91.5 million), plantation (9.56 million), REITs (4.63 million), closed/fund (5,900), energy (216.31 million), healthcare (30.42 million), telecommunications and media (11.52 million), transportation and logistics (24.21 million), and utilities (9.01 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends firmer on bargain hunting

 

KUALA LUMPUR (Jan 26): Bursa Malaysia ended on a higher note on Wednesday (Jan 26) on bargain hunting in most sectors except plantation, ahead of the US Federal Reserve's decision on its monetary policy stance, said an analyst.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.45% or 6.85 points to 1,515.76 from 1,508.91 at Tuesday's close.

The benchmark index, which opened marginally lower at 0.13 of-a-point at 1,508.78 — its intraday low, rose to a high of 1,520.15 during the morning session. 

The overall market breadth was positive with gainers overwhelming losers 618 to 254, while 407 counters were unchanged, 1,001 untraded, and 30 others suspended.

Total turnover declined to 2.36 billion units worth RM1.84 billion versus Tuesday’s 2.8 billion units valued at RM2.14 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional markets also performed better despite negative cues from Wall Street overnight as traders continued to pick up stocks at bargain prices after the recent sell-offs.

On the domestic front, he expected bargain hunting to continue given the cheap valuations of stocks, continuous inflow of foreign investors, and improving macroeconomic situation in the country.

“However, we reckon that the direction of the local market is still very much dependent on regional volatility.

“As such, we expect the key index to move within the 1,510-1,530 range for the remainder of the week, with immediate resistance at 1,530 and support at 1,500,” he told Bernama.

Of the heavyweights, Malayan Banking Bhd added seven sen to RM8.30, Public Bank Bhd and Petronas Chemicals Group Bhd gained two sen each to RM4.20 and RM8.92 respectively, IHH Healthcare Bhd rose three sen to RM6.36, and CIMB Group Holdings Bhd perked up one sen to RM5.26. 

As for the actives, Dagang NeXchange Bhd widened 8.5 sen to 94.5 sen, Coraza Integrated Technology Bhd added nine sen to 90 sen, SMTrack Bhd eased one sen to 18 sen, and Senheng New Retail Bhd rose 5.5 sen to 91 sen. 

On the index board, the FBM ACE surged 113.01 points to 6,084.01, the FBM 70 expanded 102.25 points to 13,433.27, the FBM Emas Index added 64.79 points to 10,888.12, the FBMT 100 Index rose 55.24 points to 10,596.83, and the FBM Emas Shariah Index increased 69.4 points to 11,570.19.

Sector-wise, the Financial Services Index climbed 85.98 points to 15,746.89, the Industrial Products and Services Index improved 1.67 points at 200.29, while the Plantation Index fell 33.33 points to 6,597.98.

The Main Market volume decreased to 1.35 billion shares valued at RM1.54 billion versus Tuesday’s 1.7 billion shares worth RM1.85 billion. 

Warrants turnover was marginally higher at 368.75 million units worth RM34.8 million from 368.65 million units valued at RM42.9 million on Tuesday.   

The ACE Market volume dwindled to 638.41 million shares valued at RM261.51 million against 731.74 million shares valued at RM249.12 million on Tuesday.   

Consumer products and services counters accounted for 263.7 million shares traded on the Main Market, industrial products and services (358.83 million), construction (34.96 million), technology (337.6 million), SPAC (nil), financial services (49.43 million), property (99.58 million), plantation (9.67 million), REITs (3.66 million), closed/fund (nil), energy (83.31 million), healthcare (50.14 million), telecommunications and media (20.48 million), transportation and logistics (30.47 million), and utilities (9.5 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia closes weaker amid regional volatility

 

KUALA LUMPUR (Jan 25): Bursa Malaysia closed weaker across the board on Tuesday (Jan 25) amid regional volatility, a dealer said. 

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 0.85% or 12.95 points to 1,508.91 from 1,521.86 at Monday's close.

The key index opened 4.77 points weaker at 1,517.09 on Tuesday and fluctuated between 1,503.34 and 1,517.09 throughout the trading session.

The overall market breadth was negative with decliners outnumbering advancers 803 to 215, while 348 counters were unchanged, 914 untraded and 30 others suspended.

Total turnover declined to 2.80 billion units valued at RM2.14 billion versus Monday’s 2.83 billion units worth RM1.88 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the regional key indices closed mostly lower due to weak investor sentiment amid inflation and geopolitical concerns ahead of the US Federal Open Market Committee (FOMC) meeting.

“While the US Federal Reserve is likely to leave interest rates unchanged, there are hints that the first rate increase could happen as early as the next meeting in March.

“Meanwhile concerns over the quick-spreading Omicron cases also dented market sentiment,” he told Bernama.

On the domestic front, he said investors are expected to remain cautious with the FBM KLCI hovering just above its 1,500 critical support level although bargain hunting may emerge soon.

“As such, we anticipate the FBM KLCI to move between 1,500-1,515 for the remainder of the week,” he added. 

Among Bursa’s heavyweights, Malayan Banking Bhd fell two sen to RM8.23, Public Bank Bhd eased one sen to RM4.18, Petronas Chemicals Group Bhd and CIMB Group Holdings Bhd were flat at RM8.90 and RM5.25 respectively, while IHH Healthcare Bhd lost 14 sen to RM6.33.

Of the actives, Dagang NeXchange Bhd was seven sen lower at 86 sen, Coraza Integrated Technology Bhd and SMTrack Bhd eased half-a-sen to 81 sen and 19 sen respectively. Meanwhile, Senheng New Retail Bhd, which made its debut on the Main Market on Tuesday, contracted 21.5 sen to 85.5 sen.

On the index board, the FBM Emas Index slid 94.18 points to 10,823.33, the FBM Emas Shariah Index fell 126.13 points to 11,500.79, the FBM ACE erased 131.98 points to 5,971, the FBM 70 dipped 74.76 points to 13,331.02, and the FBMT 100 Index dropped 83.45 points to 10,541.59. 

Sector-wise, the Financial Services Index slipped 39.96 points to 15,660.9, the Industrial Products and Services Index fell 1.89 points to 198.62, while the Plantation Index narrowed 95.32 points to 6,631.31.   

The Main Market volume expanded to 1.7 billion shares valued at RM1.85 billion versus Monday’s 1.66 billion shares worth RM1.58 billion. 

Warrants turnover climbed to 368.65 million units worth RM42.9 million from 263.31 million units valued at RM25.64 million previously.   

The ACE Market volume reduced to 731.74 million shares valued at RM249.12 million against 893.52 million shares worth RM272.47 million on Monday.   

Consumer products and services counters accounted for 468.35 million shares traded on the Main Market, industrial products and services (366.41 million), construction (88.57 million), technology (350.51 million), SPAC (nil), financial services (72.38 million), property (136.24 million), plantation (13.32 million), REITs (4.85 million), closed/fund (7,000), energy (80.48 million), healthcare (51.25 million), telecommunications and media (17.22 million), transportation and logistics (35.29 million), and utilities (16.57 million).

 

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends lower on persistent selling pressure

 

KUALA LUMPUR (Jan 24): Bursa Malaysia closed lower on Monday (Jan 24) on continuous selling pressure in most heavyweights led by glove maker Hartalega Holdings Bhd, amid weak market sentiment, dealers said. 

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 5.2 points to 1,521.86 from 1,527.06 at Friday’s close after opening 5.34 points lower at 1,521.72.

The benchmark index fluctuated between 1,518.82 and 1,525.82 throughout the trading session.

The overall market breadth was negative with decliners outnumbering advancers 594 to 335, while 385 counters were unchanged, 955 untraded, and 11 others suspended.

Total turnover increased to 2.83 billion units worth RM1.88 billion versus Friday’s 2.64 billion units valued at RM1.98 billion. 

An analyst told Bernama that weaker earnings outlook is expected for glove makers on continuous lower average selling price (ASP) for gloves as supply remained high and Covid-19 hype diminishes.

“This dragged Hartalega down, falling 3.82% or 22 sen to RM5.53 while Top Glove [Corp Bhd] dipped 4.14% or nine sen to RM2.08,” she told Bernama. 

In another development, following a report that Genting Hong Kong has filed for liquidation just a week after its German shipbuilding subsidiary MV Werften went into insolvency, stocks of Genting Bhd and Genting Malaysia Bhd (GENM) were closely watched by investors. 

Genting closed eight sen lower at RM4.49 with 3.91 million shares traded while GENM shed seven sen to RM2.78 with 6.61 million shares changing hands.

Singapore’s Straits Times reported on Sunday that three Malaysian banks’ profits, including Malayan Banking Bhd (Maybank), are set to take a major hit as trouble looms over cruise operator Genting Hong Kong — a major Asian corporate casualty of the Covid-19 pandemic. The other two banks are CIMB Group Holdings Bhd and RHB Bank Bhd.

The report said these three banks were, among some, the chief unsecured creditors of Genting Hong Kong, with a combined exposure of US$600 million (RM2.5 billion).

Maybank on Monday stated vehemently that the allegations that it will face major financial trouble owing to exposure to Genting Hong Kong were baseless.

Maybank’s share price closed three sen lower at RM8.25, CIMB slid five sen to RM5.25, and RHB erased 13 sen to RM5.59. 

Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the regional markets were mostly lower following cues from the decline in Wall Street last Friday, amid rising concerns about inflationary pressures and potential interest rate increase as traders await the US Federal Reserve's latest policy decision during its meeting on Jan 25-26, 2022.

“On the domestic front, we reckon that the local market is expected to see some headwinds amid heightening regional volatility, nonetheless, we believe stock accumulation to persist on dips.

“As such, we expect the FBM KLCI to trade within the 1,515-1,535 range this week. Technically, we shall see immediate support at 1,500 and resistance at 1,530,” said Thong. 

As for other heavyweights, Public Bank Bhd, Petronas Chemicals Group Bhd, and Tenaga Nasional Bhd gained one sen each to RM4.19, RM8.90, and RM9.11 respectively.  

Of the actives, Dagang NeXchange Bhd was 5.5 sen lower at 93 sen, Coraza Integrated Technology Bhd rose 15.5 sen to 81.5 sen, SMTrack Bhd added half-a-sen to 19.5 sen, while TWL Holdings Bhd eased one sen to 5.5 sen.

On the index board, the FBM Emas Index decreased 41.74 points to 10,917.51, the FBM Emas Shariah Index fell 34.28 points to 11,626.92, the FBM ACE erased 21.54 points to 6,102.98, the FBM 70 dipped 69.05 points to 13,405.78, and the FBMT 100 Index dropped 40.41 points to 10,625.04. 

Sector-wise, the Financial Services Index slipped 75.75 points to 15,700.86, the Industrial Products and Services Index eased 0.32 of-a-point to 200.51, while the Plantation Index climbed 27.35 points to 6,726.63.   

The Main Market volume went down to 1.66 billion shares valued at RM1.58 billion versus Friday’s 1.68 billion shares worth RM1.74 billion. 

Warrants turnover shrank to 263.31 million units worth RM25.64 million from 327.74 million units valued at RM33.17 million previously.   

The ACE Market volume swelled to 893.52 million shares valued at RM272.47 million against 623.79 million shares worth RM206.02 million on Friday.   

Consumer products and services counters accounted for 344.41 million shares traded on the Main Market, industrial products and services (418.93 million), construction (76.84 million), technology (352.54 million), SPAC (nil), financial services (50.26 million), property (207.07 million), plantation (17.22 million), REITs (5.36 million), closed/fund (15,000), energy (81.65 million), healthcare (43.38 million), telecommunications and media (10.53 million), transportation and logistics (39.31 million), and utilities (15.49 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends flat

 

KUALA LUMPUR (Jan 21): Bursa Malaysia ended the week lower, with the key index easing by 0.05% amid cautious investors’ sentiment.   

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 0.69 of-a-point to 1,527.06 from 1,527.75 at Thursday’s close after opening 1.06 points higher at 1,528.81.

The key index fluctuated between 1,520.8 and 1,531.25 throughout the trading session.

The overall market breadth was negative with decliners outpacing advancers 575 to 334, while 442 counters were unchanged, 884 untraded, and 12 others suspended.

Total turnover eased to 2.64 billion units worth RM1.98 billion versus Thursday’s 3.39 billion units worth RM2.25 billion.  

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI continued to trend lower as a result of regional selldown.

“Regionally, key indices closed broadly lower as Wall Street took a knock overnight, hurt by lingering concerns over the US Federal Reserve’s tightening and weaker-than-expected economic and earnings data,” he told Bernama.

Hong Kong’s Hang Seng Index added 0.05% to 24,965.55, Singapore’s Straits Times Index eased 0.19% to 3,288.87 and Japan’s Nikkei 225 fell 0.9% to 27,522.26. 

Among Bursa Malaysia’s heavyweights, Public Bank Bhd gained one sen to RM4.18, IHH Healthcare Bhd rose two sen to RM6.57, CIMB Group Holdings Bhd advanced five sen to RM5.30, Tenaga Nasional Bhd went up three sen to RM9.10, Malayan Banking Bhd was flat at RM8.28, Petronas Chemicals Group Bhd trimmed six sen to RM8.89 and Hong Leong Bank Bhd slipped 14 sen to RM19.20.   

Of the actives, Dagang NeXchange Bhd was two sen higher at 98.5 sen, Matang Bhd firmed one sen to 10 sen, G3 Global Bhd and Ageson Bhd were flat at eight sen and 2.5 sen respectively, while SMTrack Bhd fell three sen to 19 sen and Sapura Energy Bhd inched down half-a-sen to 4.5 sen. 

On the index board, the FBM Emas Index decreased 21.36 points to 10,959.25, the FBM Emas Shariah Index slid 41.15 points to 11,661.2, the FBM ACE reduced 36.61 points to 6,124.52, the FBM 70 went down 90.47 points to 13,474.83, and the FBMT 100 Index slipped 19.77 points to 10,665.45. 

Sector-wise, the Financial Services Index decreased 2.22 points to 15,776.61, the Industrial Products and Services Index inched down 0.41 of-a-point to 200.83, and the Plantation Index expanded by 20.29 points to 6,699.28.   

The Main Market volume went down to 1.68 billion shares worth RM1.74 billion from Thursday’s 2.11 billion shares worth RM1.88 billion. 

Warrants turnover declined to 327.74 million units worth RM33.17 million from 378.96 million units worth RM43.54 million on Thursday.   

The ACE Market volume dwindled to 623.79 million shares worth RM206.02 million against 897.06 million shares worth RM324.49 million on Thursday.   

Consumer products and services counters accounted for 302.6 million shares traded on the Main Market, industrial products and services (405.26 million), construction (99.12 million), technology (406.15 million), SPAC (nil), financial services (47.51 million), property (119.23 million), plantation (9.8 million), REITs (7.12 million), closed/fund (11,000), energy (172.13 million), healthcare (44.67 million), telecommunications and media (25.58 million), transportation and logistics (27.8 million), and utilities (16.86 million).

 

Source: The Edge

Market Daily Report: FBM KLCI ends marginally lower

 

KUALA LUMPUR (Jan 20): Bursa Malaysia’s benchmark index ended slightly lower by 0.17% on Thursday (Jan 20) on continuous selling in heavyweights led by Malayan Banking Bhd (Maybank), Public Bank Bhd and Petronas Chemicals Group Bhd.  

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 2.58 points to 1,527.75 from 1,530.33 at Wednesday’s close after opening 0.89 of-a-point easier at 1,529.44.

The key index fluctuated between 1,525.45 and 1,532.82 throughout the trading session.

The overall market breadth, however, was positive with advancers outpacing decliners 518 to 402, while 416 counters were unchanged, 913 untraded, and 27 others suspended.

Total turnover eased to 3.39 billion units worth RM2.25 billion from Wednesday’s 3.57 billion units worth RM2.61 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI hovered around its 1,530 support level on Thursday and the online stockbroking firm reckoned the accumulation of stocks to persist on dips.

“We continue to maintain our cautiously optimistic view and expect bargain-hunting activities to emerge, while on the other hand, we remain cautious given the increasing market volatility around the world.

“As such, we expect the benchmark index to trade within the 1,530-1,540 range towards the weekend,” he told Bernama.

Bank Negara Malaysia on Thursday maintained the overnight policy rate at 1.75% during its first Monetary Policy Committee meeting in 2022.  

Heavyweights Maybank declined four sen to RM8.24, Public Bank and IHH Healthcare Bhd fell one sen each to RM4.17 and RM6.55, respectively, while Petronas Chemicals slipped three sen to RM8.95 and CIMB Group Holdings Bhd trimmed eight sen to RM5.25. 

Meanwhile, Press Metal Aluminium Holdings Bhd soared 24 sen to RM6.12, Petronas Gas Bhd rose eight sen to RM16.82 and Tenaga Nasional Bhd was flat at RM9.07.   

Of the actives, ACE market debutant Coraza Integrated Technology Bhd soared 36.5 sen to 64.5 sen, Dagang NeXchange Bhd increased 5.5 sen to 96.5 sen, G3 Global Bhd and MMAG Holdings Bhd were both flat at eight sen respectively, while Ageson Bhd slipped one sen to 2.5 sen and SMTrack Bhd inched down half-a-sen to 22 sen. 

On the index board, the FBM Emas Index rose 5.99 points to 10,980.61, the FBM Emas Shariah Index expanded 33.26 points to 11,702.35, the FBM ACE advanced 69.57 points to 6,161.13, the FBM 70 went up 76.51 points to 13,565.3, and the FBMT 100 Index slipped 0.46 of-a-point to 10,685.22.

Sector-wise, the Financial Services Index decreased 65.78 points to 15,778.83, the Industrial Products and Services Index was 2.19 points higher at 201.24, while the Plantation Index added 8.07 points to 6,678.99.  

The Main Market volume went down to 2.11 billion shares worth RM1.88 billion from 2.35 billion shares worth RM2.37 billion on Wednesday.   

Warrants turnover improved to 378.96 million units worth RM43.54 million from 260.14 million units worth RM25.76 million on Wednesday.   

The ACE Market volume dwindled to 897.06 million shares worth RM324.49 million against Wednesday’s 953.68 million shares worth RM212.41 million.  

Consumer products and services counters accounted for 498.54 million shares traded on the Main Market, industrial products and services (409.57 million), construction (214.79 million), technology (455.39 million), SPAC (nil), financial services (67.73 million), property (165.81 million), plantation (12.61 million), REITs (7.52 million), closed/fund (7,000), energy (154.02 million), healthcare (41.41 million), telecommunications and media (32.42 million), transportation and logistics (24.05 million), and utilities (25.14 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends broadly lower

 

KUALA LUMPUR (Jan 19): Bursa Malaysia ended broadly lower on Wednesday (Jan 19), with the key index falling by 0.82% on bearish market sentiment led by banking stocks, ahead of Bank Negara Malaysia’s (BNM) first Monetary Policy Meeting in 2022 on Thursday. 

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 12.59 points to 1,530.33 from 1,542.92 at Monday’s close after opening 1.22 points easier at 1,541.7. 

The key index fluctuated between 1,525.55 and 1,541.7 throughout the trading session.

Banking counters CIMB Group Holdings Bhd lost 18 sen to RM5.33, Malayan Banking Bhd fell nine sen to RM8.32 and Public Bank Bhd eased four sen to RM4.18, which contributed a combined 6.53 points to the decline in the index.    

The overall market breadth was negative with decliners trouncing advancers 780 to 258, while 346 counters were unchanged, 864 untraded, and 27 others suspended.

Total turnover increased to 3.57 billion units worth RM2.61 billion against Monday’s 2.59 billion units worth RM2.01 billion.

The market was closed on Tuesday for Thaipusam public holiday. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI was lower on Wednesday in line with continuous selling pressure across the region, particularly in banking and gaming stocks.

He noted that the key regional markets were also in negative territory as surging US treasury yields also contributed to the continuous global selloff.

Meanwhile, the Brent crude price continued its uptrend to close near US$89 per barrel amid possible disruption on the supply side following the latest attack on the United Arab Emirates.

“We expect buying interest in local oil and gas counters to remain strong in the short to mid term. Any further dips may attract some bargain-hunting activities.

“Hence, we reckon the FBM KLCI to move between the 1,520-1,540 range for the remainder of the week, with immediate support at 1,520 and resistance at 1,570,” Thong told Bernama.

At the time of writing, Brent crude rose 0.33% to US$87.80 per barrel. 

Regionally, Japan’s Nikkei 225 declined 2.8% to 27,467.23, Singapore’s Straits Times Index eased 0.04% to 3,278.75, while Hong Kong’s Hang Seng Index gained 0.06% to 24,127.85. 

Back home, heavyweights Petronas Chemicals Group Bhd and Tenaga Nasional Bhd both rose three sen to RM8.98 and RM9.07, respectively, IHH Healthcare Bhd was flat at RM6.56, Press Metal Aluminium Holdings Bhd declined four sen to RM5.88, and Hong Leong Bank Bhd dipped 30 sen to RM19.50.  

Of the actives, Dagang NeXchange Bhd advanced 4.5 sen to 91 sen, Sarawak Consolidated Industries Bhd increased 6.5 sen to 27 sen, AHB Holdings Bhd edged up half-a-sen to 13.5 sen, EA Holdings Bhd and SMTrack Bhd eased one sen each to 1.5 sen and 22.5 sen respectively, while AirAsia Group Bhd decreased 2.5 sen to 59 sen. 

On the index board, the FBM Emas Index fell 127.68 points to 10,974.62, the FBMT 100 Index slipped 121.05 points to 10,685.68, the FBM Emas Shariah Index decreased 108.93 points to 11,669.09, the FBM ACE dipped 151.61 points to 6,091.56, and the FBM 70 lost 297.84 points to 13,488.79.  

Sector-wise, the Financial Services Index slid 246.55 points to 15,844.61, the Industrial Products and Services Index eased 1.89 points to 199.05, while the Plantation Index advanced 7.74 points to 6,670.92.  

The Main Market volume went up to 2.35 billion shares worth RM2.37 billion from Monday’s 1.64 billion shares worth RM1.8 billion.  

Warrants turnover improved to 260.14 million units worth RM25.76 million from 203.99 million units worth RM22.77 million previously.  

The ACE Market volume increased to 953.68 million shares worth RM212.41 million from 730.73 million shares worth RM176.58 million on Monday.  

Consumer products and services counters accounted for 524.83 million shares traded on the Main Market, industrial products and services (594.94 million), construction (145.14 million), technology (516.56 million), SPAC (nil), financial services (89.7 million), property (144.03 million), plantation (13.09 million), REITs (9.96 million), closed/fund (5,000), energy (191.44 million), healthcare (52.56 million), telecommunications and media (17.12 million), transportation and logistics (30.3 million), and utilities (21.37 million).

 

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends broadly lower

 

 

KUALA LUMPUR (Jan 17): Bursa Malaysia ended broadly lower on Monday (Jan 17), with the key index falling 0.8% on bearish market sentiment and weighed down by selling in selected heavyweights led by Dialog Group Bhd and Petronas Chemicals Group Bhd. 

Both counters contributed a combined of 4.19 points to the decline in the index.    

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 12.41 points to 1,542.92 from 1,555.33 at Friday’s close.

The index opened 1.53 points lower at 1,553.8 and fluctuated between 1,541.07 and 1,555.31 throughout the trading session.

The overall market breadth was negative with decliners trouncing advancers 556 to 336, while 408 counters were unchanged, 952 untraded, and 20 others suspended.

Total turnover fell to 2.59 billion units worth RM2.01 billion from 3.61 billion units worth RM2.95 billion on Friday. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI ended lower as investors continued to take profits particularly in oil and gas as well as banking heavyweights.

Bursa Malaysia also bucked the regional trend as the major markets closed mostly higher following positive economic data from China as the country's gross domestic product grew 4% year-on-year and 1.6% quarter-on-quarter in the fourth quarter of 2021.

“On the other hand, investors are cautious ahead of the Bank of Japan’s meeting this week as policymakers are debating how soon interest rate hike will come.

“On the domestic front, despite the cautious market undertone, we expect bargain hunting to prevail given the cheap valuations of local stocks, continuous inflow of foreign investors, and improving macroeconomic conditions in the country,” Thong told Bernama. 

As such, the FBM KLCI is expected to move within the 1,540-1,560 range this week, with immediate resistance at 1,570 and support at 1,530, he added.

Regionally, Japan’s Nikkei 225 rose 0.74% to 28,333.52, Singapore’s Straits Times Index advanced 0.17% to 3,287.57, while Hong Kong’s Hang Seng Index fell 0.68% to 24,218.03.  

Back home, heavyweights Dialog Group lost 22 sen to RM2.67, Petronas Chemicals trimmed 14 sen to RM8.95, Press Metal Aluminium Holdings Bhd fell 13 sen to RM5.92, while Tenaga Nasional Bhd was flat at RM9.04 and Public Bank Bhd gained two sen to RM4.22. 

Of the actives, Komarkcorp Bhd rose 1.5 sen to 15 sen, Dagang NeXchange Bhd went up 2.5 sen to 86.5 sen, Iconic Worldwide Bhd added two sen to 30 sen, Kanger International Bhd was flat at two sen, SMTrack Bhd shed 5.5 sen to 23.5 sen, AirAsia Group Bhd edged down half-a-sen to 61.5 sen, and AHB Holdings Bhd declined 1.5 sen to 13 sen.  

On the index board, the FBM Emas Index fell 76.22 points to 11,102.3, the FBMT 100 Index slipped 78.92 points to 10,806.73, the FBM Emas Shariah Index decreased 102.79 points to 11,778.02, the FBM ACE dipped 36.46 points to 6,243.17, and the FBM 70 declined 65.94 points to 13,786.63. 

Sector-wise, the Financial Services Index slid 60.92 points to 16,091.16, the Industrial Products and Services Index eased 2.02 points to 200.94, and the Plantation Index was 98.37 points lower at 6,663.18. 

The Main Market volume dwindled to 1.64 billion shares worth RM1.8 billion versus Friday’s 2.36 billion shares worth RM2.65 billion. 

Warrants turnover shrank to 203.99 million units worth RM22.77 million from 262.03 million units worth RM31.58 million previously.  

The ACE Market volume decreased to 730.73 million shares worth RM176.58 million from 968.34 million shares worth RM266.65 million last Friday. 

Consumer products and services counters accounted for 411.4 million shares traded on the Main Market, industrial products and services (462.62 million), construction (81.26 million), technology (277.88 million), SPAC (nil), financial services (58.80 million), property (124.26 million), plantation (10.41 million), REITs (4.93 million), closed/fund (23,200), energy (117.52 million), healthcare (34.58 million), telecommunications and media (16.35 million), transportation and logistics (21.5 million), and utilities (19.21 million).

 

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends broadly lower

 

KUALA LUMPUR (Jan 14): Bursa Malaysia ended broadly lower on Friday (Jan 14), weighed by continuous profit-taking in selected heavyweights led by Press Metal Aluminium Holdings Bhd and Public Bank Bhd, in line with the weaker regional market sentiment.

The two counters contributed a combined 3.54 points to the decline in the barometer index, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 14.18 points or 0.9% to 1,555.33 from 1,569.51 at Thursday’s close.

The index opened 4.28 points lower at 1,565.23 and fluctuated between 1,549.93 and 1,565.23 throughout the trading session.

The overall market breadth was negative with decliners beating advancers 828 to 204, while 348 counters were unchanged, 871 untraded, and 28 others suspended.

Total turnover rose to 3.61 billion units worth RM2.95 billion versus 3.46 billion units valued at RM2.14 billion on Thursday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI closed lower due to selling pressure seen across the region.

“Key regional markets were lower following the broadly negative cues overnight from Wall Street, with energy and technology stocks primarily dragging markets down.

“Additionally, hawkish remarks from Federal Reserve officials gave clear indications that US interest rates could rise as soon as March, putting an end to ultra-easy monetary conditions,” he told Bernama on Friday.

Japan's Nikkei 225 slipped 1.28% to 28,124.28, Hong Kong’s Hang Seng Index went down 0.19% to 24,383.32, Singapore’s Straits Times Index added 0.69% to 3,279.81 and South Korea’s Kospi fell 1.36% to 2,921.92.

Back home, heavyweights, Malayan Banking Bhd and Public Bank gave up four sen each to RM8.46 and RM4.20, respectively, Petronas Chemicals Group Bhd slipped six sen to RM9.09, IHH Healthcare Bhd went down seven sen to RM6.58 while CIMB Group Holdings Bhd fell five sen to RM5.54.

Of the actives, AirAsia Group Bhd declined 12.5 sen to 62 sen, Dagang NeXchange Bhd trimmed 1.5 sen to 84 sen, while SMTrack Bhd and Sapura Energy Bhd were flat at 29 sen and five sen, respectively.

On the index board, the FBM Emas Index was 137.2 points weaker at 11,178.52, the FBMT 100 Index lost 127.18 points to 10,885.65, the FBM Emas Shariah Index decreased 193.68 points to 11,880.81, the FBM ACE dipped 209 points to 6,279.63, and the FBM 70 dropped 283.64 points to 13,852.57.

Sector-wise, the Financial Services Index slid 70.75 points to 16,152.08, the Industrial Products and Services Index shed 3.14 points to 202.96, while the Plantation Index fell 12.43 points to 6,761.55.

The Main Market volume expanded to 2.36 billion shares worth RM2.65 billion compared with 2.08 billion shares worth RM1.91 billion on Thursday.

Warrants turnover advanced to 262.03 million units worth RM31.58 million from 241.93 million units worth RM30.63 million on Thursday.

The ACE Market volume narrowed to 968.34 million shares worth RM266.65 million versus 1.13 billion shares valued at RM202.71 million previously.

Consumer products and services counters accounted for 725.27 million shares traded on the Main Market, industrial products and services (554.78 million), construction (75.22 million), technology (427.89 million), SPAC (nil), financial services (72.84 million), property (163.45 million), plantation (10.26 million), REITs (6.18 million), closed/fund (35,200), energy (160.45 million), healthcare (51.84 million), telecommunications and media (23.54 million), transportation and logistics (49.35 million), and utilities (35.79 million).

 

 

Source: The Edge

Market Daily Report: Bursa Malaysia closes firmer

 

KUALA LUMPUR (Jan 13): Bursa Malaysia ended higher in volatile trading on Thursday (Jan 13), boosted by continuous buying support in selected heavyweights led by Petronas Chemicals Group Bhd and Malayan Banking Bhd (Maybank), dealers said.

The two counters contributed a combined 4.04 points to the gains in the barometer index, the dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.31 points or 0.4% to 1,569.51 from 1,563.2 at Wednesday’s close.

The index opened 1.24 points lower at 1,561.96 and fluctuated between 1,560.29 and 1,570.14 throughout the trading session.

The overall market breadth, however, was negative with decliners beating advancers 642 to 343, while 398 counters were unchanged, 884 untraded and 40 others suspended.

Total turnover rose to 3.46 billion units worth RM2.14 billion versus 3.37 billion units valued at RM1.91 billion on Wednesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI closed higher as buying interest continued on selected heavyweights such as oil and gas, plantation and banks during the final hour of trading.

“Meanwhile, key regional indices trended broadly lower due to expectations that the US Federal Reserve (Fed) will hike interest rates as early as March 2022,” he told Bernama on Thursday.

Japan's Nikkei 225 slipped 0.96% to 28,489.13, Hong Kong’s Hang Seng Index went up 0.11% to 24,429.77, Singapore’s Straits Times Index added 0.08% to 3,257.62 and South Korea’s Kospi fell 0.35% to 2,962.09.

On the domestic front, Thong said the FBM KLCI is attempting to break the 1,570 technical resistance.

“If the resistance is broken, we may see the index heading towards the 1,600 mark. Overall, we remain cautiously optimistic and reckon buying activities to continue, while on the other hand, we are wary over external factors given the increasing regional market volatility amid news on the interest rate hike by the Fed in the US.

“As such, we expect the FBM KLCI to trend within the range of 1.565-1,575 towards the weekend,” he added.

Among heavyweights, Maybank gained nine sen to RM8.50, Petronas Chemicals jumped 15 sen to RM9.15, CIMB Group Holdings Bhd and Tenaga Nasional Bhd improved three sen each to RM5.59 and RM9.10 respectively, while Public Bank Bhd slipped one sen to RM4.24.

Of the actives, Pegasus Heights Bhd and VSolar Group Bhd were flat at one sen and 1.5 sen respectively, while AHB Holdings Bhd shed eight sen to 20 sen and MQ Technology Bhd eased half-a-sen to eight sen.

On the index board, the FBM Emas Index was 13.66 points firmer at 11,315.72, the FBMT 100 Index improved 18.43 points to 11,012.83, the FBM Emas Shariah Index decreased 2.85 points to 12,074.49, while the FBM ACE dipped 94.01 points to 6,488.63, and the FBM 70 trimmed 89.04 points to 14,136.21.

Sector-wise, the Financial Services Index surged 127.92 points to 16,222.83, the Industrial Products and Services Index added 0.78 of-a-point to 206.1, while the Plantation Index climbed 34.06 points to 6,773.98.

The Main Market volume was lower at 2.08 billion shares worth RM1.91 billion compared with 2.11 billion shares worth RM1.66 billion on Wednesday.

Warrants turnover advanced to 241.93 million units worth RM30.63 million from 212.08 million units worth RM27.91 million on Wednesday.

The ACE Market volume expanded to 1.13 billion shares worth RM202.71 million versus 1.04 billion shares valued at RM217.64 million previously.

Consumer products and services counters accounted for 450.38 million shares traded on the Main Market, industrial products and services (530.5 million), construction (87.09 million), technology (248.6 million), SPAC (nil), financial services (95.89 million), property (323.3 million), plantation (15.7 million), REITs (12.08 million), closed/fund (23,400), energy (176.05 million), healthcare (44.11 million), telecommunications and media (23.03 million), transportation and logistics (55.26 million), and utilities (22.85 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia closes mixed

 

KUALA LUMPUR (Jan 12): Bursa Malaysia reversed some of its earlier losses to end mixed on Wednesday (Jan 12), driven by late buying support in selected industrial products and services counters led by Petronas Chemicals Group Bhd and Press Metal Aluminium Holdings Bhd, dealers said.

The two counters contributed a combined 2.43 points to the gains in the barometer index, the dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) however slipped 1.09 points or 0.07% to 1,563.2 from 1,564.29 at Tuesday’s close.

The index opened 0.1 of-a-point higher at 1,564.39 and fluctuated between 1,555.7 and 1,567.35 throughout the trading session.

The overall market breadth was positive with advancers beating decliners 569 to 389, while 404 counters were unchanged, 905 untraded, and 31 others suspended.

Total turnover declined to 3.37 billion units worth RM1.91 billion versus 4.15 billion units valued at RM2.84 billion on Tuesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI closed lower due to profit-taking mainly on banking stocks.

“Nonetheless, market breadth was positive with 569 gainers over 389 losers. Meanwhile, key regional markets trended mostly higher following overnight gains on Wall Street and downbeat inflation data from China.

“The country's consumer price index (CPI) contracted 0.3% month-on-month while growing 1.5% year-on-year in December,” he told Bernama on Wednesday.

Japan's Nikkei 225 gained 1.92% to 28,765.66, Hong Kong’s Hang Seng Index went up 2.79% to 24,402.17, Singapore’s Straits Times Index added 0.06% to 3,248.47 and South Korea’s Kospi rose 1.54% to 2,972.48.

Back home, Thong said the outlook for the market remained positive despite some profit-taking on banking stocks given the continuous strong foreign inflow and improving market sentiment in the region.

“Hence, we expect the index to hover within the 1,560-1,570 range for the remainder of the week with immediate resistance at 1,570 and support at 1,530,” he added.

Among heavyweights, Malayan Banking Bhd shed nine sen to RM8.41, CIMB Group Holdings Bhd fell six sen to RM5.56, IHH Healthcare Bhd was flat at RM6.65, while Public Bank Bhd added two sen to RM4.25, Petronas Chemicals climbed 10 sen to RM9 and Press Metal gained seven sen to RM6.09.

Of the actives, SMTrack Bhd, Trive Property Group Bhd and Sapura Energy Bhd were flat at 30 sen, 11.5 sen and five sen respectively, while MQ Technology Bhd slipped three sen to 8.5 sen.

On the index board, the FBM Emas Index was 14.49 points firmer at 11,302.06, the FBMT 100 Index improved 7.63 points to 10,994.4, the FBM Emas Shariah Index increased 40.97 points to 12,077.34, while the FBM ACE dipped 34.03 points to 6,582.64, and the FBM 70 climbed 76.24 points to 14,225.25.

Sector-wise, the Financial Services Index lost 82.22 points to 16,094.91, the Industrial Products and Services Index added 1.81 points to 205.32, while the Plantation Index fell 28.7 points to 6,739.92.

The Main Market volume was lower at 2.11 billion shares worth RM1.66 billion compared with 2.52 billion shares worth RM2.5 billion on Tuesday.

Warrants turnover declined to 212.08 million units worth RM27.91 million from 283.05 million units worth RM36.91 million on Tuesday.

The ACE Market volume slid to 1.04 billion shares worth RM217.64 million versus 1.35 billion shares valued at RM303.71 million previously.

Consumer products and services counters accounted for 376.83 million shares traded on the Main Market, industrial products and services (598.62 million), construction (202.75 million), technology (329.22 million), SPAC (nil), financial services (57 million), property (182.56 million), plantation (12.14 million), REITs (8.38 million), closed/fund (17,400), energy (226.90 million), healthcare (43.32 million), telecommunications and media (19.84 million), transportation and logistics (31.31 million), and utilities (20.03 million).

 

Source: The Edge

Market Daily Report: Finance stocks lift Bursa Malaysia to end at intra-day high

 

KUALA LUMPUR (Jan 11): Continuous buying support in selected financial services counters led by Malayan Banking Bhd (Maybank) and Hong Leong Bank Bhd lifted Bursa Malaysia to end at its intra-day high for the second day running, amid mixed performance on regional bourses, dealers said.

The two counters contributed a combined 6.1 points to the gains in the barometer index, the dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 14.12 points or 0.91% to 1,564.29 from 1,550.17 at Monday’s close.

The index opened 1.16 points lower at 1,549.01 and hit a low of 1,546.19 in the early morning session.

The overall market breadth, however, was negative with decliners beating advancers 639 to 356, while 398 counters were unchanged, 874 untraded, and 15 others suspended.

Total turnover shrank to 4.15 billion units worth RM2.84 billion versus 6.65 billion units valued at RM2.38 billion on Monday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI continued to trend higher due to strong buying interest in banking stocks.

“Regionally, key indices ended mixed as investors are wary of rising Covid-19 cases in China and geopolitical tension as North Korea’s second missile test in nearly a week pushes Japan and South Korea to raise their agitation in front of the United Nations (UN),” he told Bernama on Tuesday.

Japan's Nikkei 225 slipped 0.9% to 28,222.48, Hong Kong’s Hang Seng Index fell 0.03% to 23,739.06, Singapore’s Straits Times Index added 0.62% to 3,247.07, and South Korea’s Kospi rose 0.02% to 2,927.38.

On the home front, Thong said buying activities might continue but profit-taking could also set in.

“On the other hand, we advise investors to stay alert on the increasing market volatility and external uncertainties.

“As such, we expect the FBM KLCI to see range-bound trading and hover within the 1,545-1,565 range for the remaining of the week. Technically, the immediate support is unchanged at 1,530 while resistance is at 1,570,” he added.

Among heavyweights, Maybank climbed 16 sen to RM8.50, Hong Leong Bank jumped 70 sen to RM19.90, Public Bank Bhd gained five sen to RM4.23, Petronas Chemicals Group Bhd was flat at RM8.90, while CIMB Group Holdings Bhd slipped five sen to RM5.62 and IHH Healthcare Bhd trimmed three sen to RM6.65.

Of the actives, AHB Holdings Bhd improved 3.5 sen to 29 sen, Dagang NeXchange Bhd shed one sen to 87.5 sen, MQ Technology Bhd eased half-a-sen to 11.5 sen, while AT Systematization Bhd and SMTrack Bhd were flat at three sen and 30 sen, respectively.

On the index board, the FBM Emas Index was 56.88 points firmer at 11,287.57, the FBMT 100 Index improved 63.52 points to 10,986.77, the FBM Emas Shariah Index increased 9.73 points to 12,036.37, while the FBM ACE dipped 137.22 points to 6,616.67, and the FBM 70 lost 73.35 points to 14,149.01.

Sector-wise, the Financial Services Index chalked up 310.8 points to 16,177.13, the Industrial Products and Services Index added 0.57 of-a-point to 203.51, while the Plantation Index climbed 37.73 points to 6,768.62.

The Main Market volume dwindled to 2.52 billion shares worth RM2.5 billion compared with 3.47 billion shares worth RM1.98 billion on Monday.

Warrants turnover improved to 283.05 million units worth RM36.91 million from 248.02 million units worth RM33.34 million on Monday.

The ACE Market volume slid to 1.35 billion shares worth RM303.71 million versus 2.95 billion shares valued at RM360.39 million previously.

Consumer products and services counters accounted for 479.92 million shares traded on the Main Market, industrial products and services (576.58 million), construction (272.36 million), technology (447.23 million), SPAC (nil), financial services (136.98 million), property (194.45 million), plantation (12.45 million), REITs (6.63 million), closed/fund (2,600), energy (128.44 million), healthcare (69.16 million), telecommunications and media (26.11 million), transportation and logistics (144.35 million), and utilities (2.32 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends at intra-day high on late buying in selected heavyweights

 

KUALA LUMPUR (Jan 10):  Late buying in selected heavyweights led by CIMB and Press Metal lifted Bursa Malaysia to end at its intraday high on Monday (Jan 10), amid mixed performance on regional bourses, dealers said.

The two counters contributed a combined 5.70 points to the gains in the barometer index, the dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 7.06 points to 1,550.17, from 1,543.11 at Friday’s closed.

The index opened 0.27 of-a-point better at 1,543.38 and hit a low of 1,540.31 amid mixed market sentiment.

The overall market breadth however, was slightly negative with decliners beating advancers 502 to 454, while 402 counters were unchanged, 915 untraded, and 21 others suspended.

Total turnover widened to 6.65 billion units worth RM2.38 billion versus 4.14 billion units valued at RM1.90 billion last Friday.

Rakuten Trade Sdn Bhd Vice-President of Equity Research, Thong Pak Leng said FBM KLCI ended higher as investors continued to bargain hunt particularly for glove and banking heavyweights.

“Key regional markets trended mostly higher despite negative cues from Wall Street on Friday, as traders continued to pick up stocks at a bargain after the recent sell-off.

“Nonetheless, some investors remain concerned on whether the US Federal Reserve (Fed) will raise rates at a time of slowing economic growth as a result of the rapidly spreading Omicron variant of the Covid-19,” he told Bernama on Monday.

Japan's Nikkei 225 slipped 0.03% to 28,478.56, Hong Kong’s Hang Seng Index gained 1.08% to 23,746.54, Singapore’s Straits Times Index added 0.67% to 3,226.76, and South Korea’s Kospi fell 0.95% to 2,926.72.

On the domestic front, Thong said the FBM KLCI moved in a tight consolidation mode since early January as investors remained cautious due to heightened regional volatility.

“However, we reckon the index is well supported above the 1,530 level. We continue to maintain our cautiously optimistic view and expect bargain hunting activities to continue, while on the other hand, we remain cautious given the increasing risk amid the potential interest hike by the Fed in the US.

“As such, we expect the benchmark index to trade within the 1,540-1,560 range for the week. Technically, the immediate support is unchanged at 1,530 while resistance is at 1,570,” he added.

Among heavyweights, Maybank and Public Bank gained 2.0 sen each to RM8.34 and RM4.18, respectively, Petronas Chemicals garnered 11 sen to RM8.90, CIMB jumped 21 sen to RM5.67, IHH Healthcare trimmed 6.0 sen to RM6.68, while Press Metal surged 13 sen to RM5.88.

Of the actives, Fintec and XOX earned half-a-sen each to 1.5 sen and 3.0 sen, respectively, Trive Property added 5.0 sen to 13 sen, while MQ Technology advanced 1.5 sen to 12 sen.

On the index board, the FBM Emas Index was 13.27 points firmer at 11,230.69, the FBMT 100 Index improved 19.61 points to 10,923.25, the FBM Emas Shariah Index decreased 32.84 points to 12,026.64, the FBM ACE soared 61.86 points to 6,753.89, and the FBM 70 lost 105.05 points to 14,222.36.

Sector-wise, the Financial Services Index chalked up 158.91 points to 15,866.33, the Industrial Products and Services Index added 0.67 of-a-point to 202.94, while the Plantation Index climbed 12.06 points to 6,730.89.

The Main Market volume expanded to 3.47 billion shares worth RM1.98 billion compared with 1.97 billion shares worth RM1.5 billion last Friday.

Warrants turnover improved to 248.02 million units worth RM33.34 million from 247.10 million units worth RM32.95 million.

The ACE Market volume widened to 2.95 billion shares worth RM360.39 million versus 1.92 million shares valued at RM364.64 million previously.

Consumer products and services counters accounted for 600.94 million shares traded on the Main Market, industrial products and services (1.04 billion), construction (213.26 million), technology (703.99 million), SPAC (nil), financial services (68.56 million), property (209.20 million), plantation (11.34 million), REITs (5.27 million), closed/fund (20,000), energy (208.94 million), healthcare (78.86 million), telecommunications and media (42.66 million), transportation and logistics (264.94 million), and utilities (17.55 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends first trading week of 2022 in positive territory on bargain hunting

 

KUALA LUMPUR (Jan 7): Bursa Malaysia ended the first trading week of 2022 on a firm note, with gains recorded across the board on continuous buying support for small capitalisation stocks and selected heavyweights, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rebounded from heavy selling on Thursday (Jan 6) to close 9.75 points higher at 1,543.11 on Friday, just a tad lower than its intra-day high of 1,543.17.

The index opened 1.45 points better at 1,534.81 but fluctuated to as low as 1,531.54 amid mixed market sentiment.

The overall market breadth was bullish with gainers beating decliners 600 to 338, while 399 counters were unchanged, 936 untraded, and 21 others suspended.

Total turnover almost doubled at 4.14 billion units worth RM1.9 billion versus 2.87 billion units valued at RM1.9 billion on Thursday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Malaysian equities rebounded due to bargain hunting on selected heavyweight stocks in glove, plantation, and banking.

Investors were also looking for value buys, especially on small-cap stocks, he said.

“The FBM KLCI remains well supported above the 1,530 level, hence we reckon the accumulation of stocks to persist on dips,” he told Bernama.

Plantation stocks were the biggest contributor to the Composite Index, with Sime Darby Plantation Bhd jumping 3.96% while IOI Corp Bhd advanced 3.47%.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said while local equities were quite volatile on Friday, the benchmark FBM KLCI appeared well supported in the afternoon session.

“New money perhaps. Some institutional investors would see some value in stocks, especially with the recent sell-off. It’s just about finding the right entry point and now could be the right time,” he said.

Among the heavyweights, Malayan Banking Bhd gained two sen to RM8.32, Public Bank Bhd rose four sen to RM4.16, Petronas Chemicals Group Bhd garnered six sen to RM8.79, CIMB Group Holdings Bhd perked up three sen to RM5.46, while IHH Healthcare Bhd trimmed two sen to RM6.74.

Of the actives, MQ Technology Bhd earned four sen to 10.5 sen, SMTrack Bhd bagged 1.5 sen to 29.5 sen, DGB Asia Bhd inched up half-a-sen to 3.5 sen, while AT Systematization Bhd and Key Alliance Group Bhd were flat at three sen and 1.5 sen, respectively.

On the index board, the FBM Emas Index was 58.52 points firmer at 11,217.42, the FBMT 100 Index improved 57.21 points to 10,903.64, the FBM Emas Shariah Index increased 63.58 points to 12,059.48, the FBM ACE soared 110.05 points to 6,692.03 and the FBM 70 gained 24.72 points to 14,327.41.

Sector-wise, the Financial Services Index advanced 86.22 points to 15,707.424, the Industrial Products and Services Index added 1.14 points to 202.27, while the Plantation Index surged 115.86 points to 6,718.83 amid firmer crude palm oil prices and ahead of the earnings season.

The Main Market volume increased slightly to 1.97 billion shares worth RM1.5 billion compared with 1.72 billion shares worth RM1.63 billion on Thursday.

Warrants turnover expanded to 247.1 million units worth RM32.95 million from 202.45 million units worth RM25.22 million on Thursday.

The ACE Market volume widened to 1.92 billion shares worth RM364.64 million versus 943.76 million shares valued at RM242.55 million previously.

Consumer products and services counters accounted for 402.64 million shares traded on the Main Market, industrial products and services (559.48 million), construction (81.75 million), technology (309.93 million), SPAC (nil), financial services (47.14 million), property (217.1 million), plantation (10.39 million), REITs (4.4 million), closed/fund (17,100), energy (185.18 million), healthcare (52.89 million), telecommunications and media (27.09 million), transportation and logistics (54.06 million), and utilities (16.52 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends broadly lower as US tapering weighs on sentiment

 

KUALA LUMPUR (Jan 6): Bursa Malaysia closed broadly lower on Thursday (Jan 6), with the key index languishing in negative territory for the entire day, as regional sentiment was dampened by US bond tapering, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended the day at 1,533.36, down 14.59 points from 1,547.95 at Wednesday's close.

The index, which opened 1.49 points weaker at 1,546.46, moved between 1,532.6 and 1,546.5 throughout the day.

The overall market breadth was bearish with losers thumping gainers 618 to 320, while 407 counters were unchanged, 928 untraded, and 15 others suspended.

Total turnover shrank to 2.87 billion units worth RM1.9 billion from 4.49 billion units worth RM1.96 billion on Wednesday.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the main market culprit was obviously concern over the possibly earlier interest rate hike in the US, following the release of December’s Federal Open Market Committee (FOMC) meeting minutes.

He said the benchmark US 10-year Treasury bond yield has increased to more than 1.7% at the moment and the yield curve has steepened as the long-term rate has risen much faster than short end of the curve.

“So the bond market is signalling interest rate would be higher going forward. Clearly, equity investors have decided to cash out in light of the uncertainty over interest rate prospect.

“This has taken a toll on Malaysia’s equities along with other bourses in this region,” he told Bernama, adding market condition would continue to be cautious on Friday.

Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said investor sentiment would remain jittery although bargain hunting might prevail.

“Hence, we expect the FBM KLCI to trend range bound and [hover] within the 1,530-1,540 range towards the weekend.

“From a technical perspective, we see immediate support at 1,530 and resistance at 1,570,” he said.

Among the heavyweights, Malayan Banking Bhd, Public Bank Bhd and Petronas Chemicals Group Bhd trimmed five sen each to RM8.30, RM4.12 and RM8.73 respectively, IHH Healthcare Bhd fell 10 sen to RM6.76, while CIMB Group Holdings Bhd eased four sen to RM5.43.

Of the actives, SMTrack Bhd gained two sen to 28 sen, Dagang NeXchange Bhd inched up half-a-sen to 84.5 sen, while Key Alliance Group Bhd and Pasukhas Group Bhd were flat at 1.5 sen and 2.5 sen respectively.

On the index board, the FBM Emas Index was 90.85 points lower at 11,158.9, the FBMT 100 Index went down 90.44 points to 10,846.43, the FBM Emas Shariah Index decreased 106.22 points to 11,995.9, the FBM ACE lost 101.96 points to 6,581.98, and the FBM 70 dipped 64.31 points to 14,302.69.

Sector-wise, the Financial Services Index fell 93.68 points to 15,621.2, the Industrial Products and Services Index trimmed 1.23 points to 201.13, while the Plantation Index gave up 51.45 points for 6,602.97.

The Main Market volume slid to 1.72 billion shares worth RM1.63 billion compared with 2.02 billion shares worth RM1.6 billion on Wednesday.

Warrants turnover slipped to 202.45 million units worth RM25.22 million from 206.62 million units worth RM23.94 million on Wednesday.

The ACE Market volume fell sharply to 943.76 million shares worth RM242.55 million from 2.26 billion shares valued at RM332.24 million previously.

Consumer products and services counters accounted for 292.14 million shares traded on the Main Market, industrial products and services (558.48 million), construction (54.28 million), technology (350.83 million), SPAC (nil), financial services (53.79 million), property (126.18 million), plantation (14.65 million), REITs (8.87 million), closed/fund (4,900), energy (78.31 million), healthcare (81.13 million), telecommunications and media (22.34 million), transportation and logistics (52.06 million), and utilities (22.18 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends higher on Jan 5, lifted by rubber glove stocks

 

KUALA LUMPUR (Jan 5): Bursa Malaysia closed higher on Wednesday (Jan 5), thanks to buying support in selected heavyweights led by rubber glove makers, Top Glove and Hartalega, amid concerns over the new IHU Covid-19 variant.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.05 points to end the day at 1,547.95, compared with Tuesday's closing of 1,541.90.

The index, which opened 0.51 of-a-point better at 1,542.41, moved between 1,540.24 and 1,549.53 throughout the day.

Market breadth was positive with gainers trouncing losers 659 to 346, while 384 counters were unchanged, 884 untraded, and 15 others suspended.

Trading was brisk, with turnover surging to 4.49 billion units worth RM1.96 billion, from 3.51 billion units valued at RM1.93 billion on Tuesday.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said fresh concerns over the IHU variant, which reportedly has more mutations than Omicron, had bolstered sentiment among rubber glove stocks.

Top Glove jumped 11 sen or 4.72% to RM2.44, Hartalega soared 23 sen (4.17%) to RM5.75, Supermax climbed seven sen (4.86%) to RM1.51, and Kossan advanced nine sen (4.81%) to RM1.96.

Mohd Afzanizam said sentiment was also weighed by the sharp increase in the United States Treasury yields, whereby the yield on the 10-year note rose three basis points to 1.66%.

The hike implied that the bond market participants are anticipating that interest rate hike in the US is almost imminent and it's just the matter of when and by how much, he said.

“Typically, rising interest rate environment may not bode well for the equities market in the short-term given the uncertainty over the timing and the size of the rate hike. 

“Otherwise, rising interest rate should be interpreted as the economy is healing, thereby excessive monetary policy accommodation would need to be removed,” he told Bernama.

Mohd Afzanizam said market players need to endure the volatility for the time being until further clarity when the Federal Reserve reconvenes on Jan 25-26.

He said the FBM KLCI's current support and resistant levels stand at 1,533.82 and 1,564.80 respectively, citing there could be upside potential in the near term.

“But for now, the index is expected to remain sideways in the near term,” he added.

Among heavyweights, Public Bank and IHH Healthcare rose four sen each to RM4.17 and RM6.86 respectively, CIMB bagged five sen to RM5.47, while Maybank slipped one sen to RM8.35, and Petronas Chemicals was flat at RM8.78.

Of the actives, Key Alliance, XOX and Pasukhas were flat at 1.5 sen, 3.0 sen and 2.5 sen respectively, SMTrack inched up half-a-sen to 26 sen, while Dagang NeXchange perked up 1.5 sen to 84 sen.

On the index board, the FBM Emas Index was 48.52 points firmer at 11,249.75, the FBM Emas Shariah Index increased 47.10 points to 12,102.12, the FBMT 100 Index advanced 44.03 points to 10,936.87, the FBM ACE soared 111.63 points to 6,683.94, and the FBM 70 rose 63.43 points to 14,367.01.

Sector-wise, the Financial Services Index put on 79.02 points to 15,712.89, the Plantation Index improved 25.50 points to 6,654.42, and the Industrial Products and Services Index added 0.41 of-a-point to 202.36.

The Main Market volume expanded to 2.02 billion shares worth RM1.6 billion, compared with 1.96 billion shares worth RM1.63 billion on Tuesday.

Warrants turnover improved to 206.62 million units worth RM23.94 million, from 162.83 million units worth RM19.39 million on Tuesday.

The ACE Market volume swelled to 2.26 billion shares valued at RM332.24 million, from 1.39 billion shares valued at RM271.54 million previously.

Consumer products and services counters accounted for 386.2 million shares traded on the Main Market, industrial products and services (641.89 million), construction (113.33 million), technology (294.65 million), SPAC (nil), financial services (52.84 million), property (162.65 million), plantation (13.34 million), REITs (4.83 million), closed/fund (14,400), energy (82.38 million), healthcare (111.14 million), telecommunications and media (16.03 million), transportation and logistics (114.96 million), and utilities (21.69 million).

 

Source: The Edge