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Showing posts from January, 2022

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China Steel Isn’t Crashing It’s Quietly Rebalancing

China’s steel market is not collapsing despite the property downturn. Instead, demand is stabilising at a lower level as manufacturing, exports and new energy sectors gradually replace construction-driven demand. This is not a demand collapse, it’s a structural shift from property to industrial and export-driven demand. What’s Really Happening The sharp drop in construction activity has clearly hurt steel demand: Property-related steel (like rebar) has fallen significantly Construction’s share of demand is shrinking But the broader market tells a different story: Total steel demand is only slightly below past peaks Manufacturing, shipbuilding and energy transition sectors are absorbing demand Exports are acting as a key buffer Instead of a sudden crash, the industry is entering a  long plateau . Why This Matters The market had expected a sharp collapse but reality is more gradual: Demand is declining slowly, not falling off a cliff China is shifting from construction-led growth to ...
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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 Protect...
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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 a...
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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, geopo...
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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 Stre...
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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 Fe...
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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 Har...
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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 Reserv...
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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...
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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...
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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 ende...
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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...
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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...
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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-presid...
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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 Th...
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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 co...
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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...
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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 ...
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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 glo...
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