Skip to main content

Posts

Showing posts from May, 2022

Featured Post

Russia Holds Key Rate at 21% Amid Surging Inflation

The Bank of Russia unexpectedly maintained its key interest rate at a record-high  21% , defying analysts’ expectations of another significant hike as inflation remains stubbornly elevated. The decision marks a shift toward a more measured approach in balancing economic growth and price stability. Key Details Inflation Concerns: Annual inflation climbed to  8.9%  in November, well above the central bank’s  4% target , with inflation expectations reaching  13.9%  in December. Policy Rationale: The central bank cited the significant tightening of monetary conditions after October’s  200-basis point hike  as sufficient to resume disinflationary processes. Governor Elvira Nabiullina emphasized avoiding both economic overheating and severe slowdowns. Economic Overheating: Elevated government spending on the war in Ukraine and social programs, coupled with labor shortages and rising wages, have fueled strong domestic demand, exacerbating price pressures...

Market Daily Report: Bursa Malaysia ends at intraday high on late buying, KLCI up 1.75%

  KUALA LUMPUR (May 31): Bursa Malaysia recouped Monday's (May 30) losses to close at its intraday high on Tuesday, with the key index surging 1.75% on late buying interest, mostly in heavyweights particularly financial services as well as plantation counters. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 27.08 points to 1,570.1 from 1,543.02 at Monday’s close. The index opened 1.33 points higher at 1,544.35 and hit a low of 1,537.95 in the morning session. Market breadth was also positive with gainers leading losers 535 to 395, while 425 counters were unchanged, 924 untraded, and 42 others suspended. Total turnover increased to 3.8 billion units worth RM6.11 billion from 3.05 billion units worth RM1.82 billion on Monday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the local bourse closed higher in tandem with improving sentiment in the region, where the main indices performed mostly higher amid China’s move to ease its...

Market Daily Report: Bursa Malaysia snaps three-day winning streak to end lower

  KUALA LUMPUR (May 30): Bursa Malaysia snapped a three-day winning streak to end lower on monday (May 30) on profit taking in selected plantation counters despite the positive sentiment in regional bourses, a dealer said. Sime Darby Plantation Bhd lost seven sen to RM4.98, Kuala Lumpur Kepong Bhd fell 36 sen to RM25.80 and IOI Corp Bhd slid three sen to RM4.23, all contributing a total of 1.82 points to the loss in the composite index. At 5pm, the benchmark index declined 3.74 points, or 0.24%, to 1,543.02 from Friday’s close of 1,546.76, after moving between 1,540.56 and 1,547.02 throughout the day. The index opened 0.41 of-a-point lower at 1,546.35. Market breadth was negative with losers outpacing gainers 497 to 412, while 419 counters were unchanged, 973 untraded and 64 others suspended. Total turnover increased to 3.05 billion units worth RM1.82 billion from 2.78 billion units worth RM2.01 billion last Friday. Rakuten Trade Sdn Bhd vice president of equity rese...

Market Daily Report: Late buying of selected heavyweights pushes Bursa to end at intraday high

  KUALA LUMPUR (May 27): Late buying of selected heavyweights, led by healthcare as well as industrial products and services counters, has pushed Bursa Malaysia from earlier losses to end at the intraday high, in line with bullish sentiment on regional bourses, dealers said. IHH Healthcare Bhd and Petronas Chemicals Group Bhd were among the top gainers, putting on 11 sen each to end at RM6.60 and RM9.98 respectively, and contributed a total of 3.2 points to the gain in the FBM KLCI. At 5pm on Friday (May 27), the benchmark index settled 5.61 points, or 0.36%, higher at 1,546.76, from Thursday’s close at 1,541.15, after hitting a low of 1,531.56 during the day. The benchmark index, which opened 0.45 of a point lower at 1,540.70, remained in negative territory for the most part of the day. However, market breadth was negative with decliners outpacing advancers 535 to 400, while 411 counters were unchanged, 964 untraded and 40 others suspended. ...

Market Daily Report: Bursa extends gains to close higher

  KUALA LUMPUR (May 26): Bursa Malaysia extended Wednesday's gains to end higher on Thursday (May 26), supported by buying demand for selected industrial products and services as well as telecommunications and media counters amid cautious sentiment on regional bourses, dealers said. Press Metal Aluminium Holdings Bhd and Telekom Malaysia Bhd (TM) were the top two gainers, putting on 14 sen to RM5.44 and 26 sen to RM4.97 respectively, and contributed a total of 3.68 points to the gains in the FBM KLCI. At 5pm, the benchmark index settled 5.59 points, or 0.36%, higher at 1,541.15, from Wednesday’s close at 1,535.56, after moving between 1,535.89 and 1,541.75 throughout the day. The KLCI opened 4.16 points higher at 1,539.72. However, market breadth was negative with decliners outpacing advancers 557 to 406, while 364 counters were unchanged, 986 untraded and 31 others suspended. Total turnover rose to 2.89 billion units worth RM1.92 billio...

Market Daily Report: Bursa closes higher on buying support

  KUALA LUMPUR (May 25): Bursa Malaysia snapped a four-day losing streak to end higher on Wednesday (May 25), supported by buying demand for selected financial services and plantation counters amid cautious sentiment on regional bourses, dealers said. Public Bank Bhd and IOI Corp Bhd were the top two gainers, rising five sen to RM4.55 and 12 sen to RM4.24 respectively, and contributing a total of 2.97 points to the FBM KLCI's gains. At 5pm, the benchmark index closed 4.26 points, or 0.28%, higher at 1,535.56, from Tuesday’s close at 1,531.30, after hovering between 1,531.22 and 1,538.82 throughout the day. The KLCI opened 0.47 of a point higher at 1,531.77. However, market breadth was negative with decliners outpacing advancers 586 to 310, while 437 counters were unchanged, 976 untraded and 24 others suspended. Total turnover fell to 2.34 billion units worth RM1.8 billion from 3.6 billion units worth RM2.09 ...

Market Daily Report: Bursa Malaysia ends at intraday low on continued selling

  KUALA LUMPUR (May 24): Continuous selling in selected healthcare and financial services counters pulled Bursa Malaysia to end at intraday low on Tuesday (May 24), marking its fourth consecutive day of decline, in line with negative sentiment on regional bourses, dealers said. IHH Healthcare Bhd and Public Bank Bhd were among the top losers, falling 15 sen and four sen each to RM6.40 and RM4.50, respectively, contributing a total of 3.62 points to the loss in the composite index. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 11.23 points or 0.73% to end at its lowest level for the day of 1,531.3, from Monday’s close of 1,542.53, after hitting a high of 1,547.84 in the early morning session. The benchmark index, which opened 5.31 points higher at 1,547.84, remained in the negative territory for most part of the day. Market breadth was negative with decliners outpacing advancers 696 to 247, while 406 counters were unchanged, 950 untraded, and 11 others susp...

Market Daily Report: Bursa Malaysia closes lower on profit taking

  KUALA LUMPUR (May 23): Bursa Malaysia erased earlier gains to close in the negative territory on monday (May 23), driven by continued profit taking in selected plantation counters, amid mixed sentiment in the regional market, dealers said. IOI Corp Bhd and Sime Darby Plantation Bhd lost 32 sen and 16 sen each to RM4.08 and RM5.02, respectively, contributing a total of 5.39 points to the loss in the composite index. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 6.59 points or 0.43% to 1,542.53, from Friday’s close of 1,549.12, after hovering between 1,540.09 and 1,556.43 throughout the day. The benchmark index, which opened 4.03 points higher at 1,553.15, remained in the positive territory for most part of the day, before turning red in the mid-afternoon session as mild profit taking emerged. Market breadth was negative with decliners outpacing advancers 546 to 355, while 598 counters were unchanged, 798 untraded, and 23 others suspended. Total turnover r...

Market Daily Report: Bursa Malaysia bucks regional trend, KLCI ends at intraday low

  KUALA LUMPUR (May 20): Bursa Malaysia bucked the regional trend to end the week marginally lower, with the key index falling 0.02%, dragged down by selling in selected heavyweights led by Petronas Gas Bhd and Public Bank Bhd. Petronas Gas shed 56 sen to RM16.80 and Public Bank dipped five sen to RM4.52. Both stocks contributed a combined 3.596 points to the loss in the composite index. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.29 of-a-point to 1,549.12, to mark its intraday low, from Thursday’s close of 1,549.41. The benchmark index, which opened 2.97 points higher at 1,552.38, remained in the positive territory for most of the day and hit an intraday high of 1,558.51 in the morning session before succumbing to selling pressure in late trading. Market breadth was positive with advancers outpacing decliners 593 to 318, while 417 counters were unchanged, 953 untraded, and 22 others suspended. Total turnover dwindled to 2.39 billion units worth RM1.99...

Market Daily Report: Bursa Malaysia snaps three-day winning streak to end lower

  KUALA LUMPUR (May 19): Bursa Malaysia snapped a three-day winning streak to end in the red on Thursday (May 19), dragged by selling in selected heavyweights led by Press Metal Aluminium Holdings Bhd and Public Bank Bhd.  Press Metal gave up 20 sen to RM5.08 and Public Bank fell four sen to RM4.57, with both stocks contributing a combined 4.203 points to the loss in the composite index. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 5.5 points or 0.35% to 1,549.41 from Wednesday's close of 1,554.91. The benchmark index, which opened 4.67 points easier at 1,550.24, moved between 1,545.02 and 1,554.53 throughout the day. Market breadth was negative with decliners outnumbering advancers 692 to 272, while 380 counters were unchanged, 925 untraded, and 22 others suspended. Total turnover dwindled to 2.69 billion units worth RM2.23 billion from 3.74 billion units worth RM2.25 billion on Wednesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak...

Market Daily Report: Bursa Malaysia ends higher for third straight day

  KUALA LUMPUR (May 18): Bursa Malaysia ended higher for the third consecutive trading session on Wednesday (May 18) on continuous nibbling in selected heavyweights including financial services, consumer, and oil and gas (O&G) stocks. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.31 points to 1,554.91 from Tuesday's close of 1,548.6. The benchmark index, which opened 5.55 points better at 1,554.15, moved between 1,547.47 and 1,558.89 throughout the day. Market breadth was mixed with decliners leading advancers 464 to 460, while 437 counters were unchanged, 894 untraded, and 11 others suspended. Total turnover dwindled to 3.74 billion units worth RM2.25 billion from 5.51 billion units worth RM2.79 billion on Tuesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regionally, the key indices closed broadly higher, buoyed by China's easing of its weeks-long Covid-19 lockdowns and gradual reopening of businesses, and positive ...

Market Daily Report: Bursa Malaysia ends higher on bargain hunting

  KUALA LUMPUR (May 17): Bursa Malaysia ended higher on Tuesday (May 17) as bargain hunting emerged in selected heavyweights, led by the industrial products and services and plantation counters. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.19 points to 1,548.6 from Friday's close of 1,544.41. Bursa Malaysia and its subsidiaries were closed on Monday for the Wesak Day replacement holiday. The benchmark index, which opened 11.27 points higher at 1,555.68, moved steadily between 1,548.02 and 1,558.11 throughout the day. On the broader market, gainers surpassed decliners 575 to 424, while 408 counters were unchanged, 848 untraded and 10 others suspended. Total turnover widened to 5.51 billion units worth RM2.79 billion from 3.17 billion units worth RM2.51 billion last Friday. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the benchmark index had closed in positive territory after rising by 0.27%. “Key regional markets are also in positive ...

Market Daily Report: Promising economic outlook, 1Q GDP data lift Bursa Malaysia higher

  KUALA LUMPUR (May 13): Bursa Malaysia ended the week in positive territory, with the barometer index rising 0.36%, as a promising economic outlook on the back of a 5% economic growth in the first quarter lifted market sentiments, an analyst said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.61 points to 1,544.41 from Thursday’s close of 1,538.8. The benchmark index, which opened 7.18 points higher at 1,545.98, moved steadily throughout the day between 1,541.15 and 1,551.33. On the broader market, gainers outnumbered decliners 658 to 317, while 402 counters were unchanged, 866 untraded and 19 others suspended. Total turnover narrowed to 3.17 billion units worth RM2.51 billion from 3.61 billion units worth RM2.51 billion on Thursday. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the FBM KLCI rebounded from Thursday's volatile session as the key index performance was boosted by the stronger-than-expected gross domestic product (GDP) data f...

Market Daily Report: KLCI tumbles, technology gauge worst hit as US inflation dents sentiment

    KUALA LUMPUR (May 12): The FBM KLCI tumbled more than 1% when markets closed on Thursday (May 12) while Bursa Malaysia’s Technology index was worst hit among the bourse’s 30 gauges as forecast-beating US inflation dented world markets which are seen taking cue from anticipation of US interest rate hikes to fight rising consumer prices.  At 5pm, the KLCI closed down 17.13 points or 1.1% at 1,538.8 while Bursa’s Technology index fell 4.44% to become the worst-hit gauge in percentage terms. All 30 Bursa indices ended lower. It was reported that US data showed higher-than-expected core inflation, excluding items such as oil prices and that some investors appeared encouraged by the annual consumer price growth change to 8.3% in April from 8.5% in March even though it was above the 8.1% analyst estimate. It was reported that while some investors were encouraged by the year-over-year improvement, others noted inflation was still red hot and that this was high...

Market Daily Report: Bursa Malaysia ends marginally higher

  KUALA LUMPUR (May 11): Bursa Malaysia ended marginally higher on Wednesday (May 11) with the FTSE Bursa Malaysia KLCI (FBM KLCI) rising by 0.09% as investors continued to bargain-hunt stocks, particularly plantation and banking heavyweights, a dealer said. At 5pm, the barometer index rose 1.35 points to 1,555.93 from Tuesday’s close of 1,554.58.  The benchmark index, which opened 0.9 of-a-point higher at 1,555.48, moved between 1,552.94 and 1,559.46 throughout the day. On the broader market, gainers surpassed losers 443 to 440, while 429 counters were unchanged, 931 untraded and 14 others suspended. Total turnover declined to 2.4 billion units worth RM1.91 billion from 2.75 billion units worth RM2.25 billion on Tuesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng foresees the performance of FBM KLCI to remain steady, supported by improving fundamentals of the local economy. “Nevertheless, market sentiments are still in cautious mode gi...

Market Daily Report: Bargain hunting pushes Bursa Malaysia to end mixed, KLCI up marginally

    KUALA LUMPUR (May 10): Bursa Malaysia ended mixed on Tuesday (May 10) with the FTSE Bursa Malaysia KLCI (FBM KLCI) snapping three consecutive days of losses to rise by 0.35%, as bargain hunting emerged in telecommunications and banking heavyweights, a dealer said. On the broader market, however, losers thumped gainers 640 to 331, while 444 counters were unchanged, 828 untraded, and 14 others suspended. At 5pm, the barometer index rose 5.4 points to 1,554.58 from Monday’s close of 1,549.18. The benchmark index, which opened 2.37 points higher at 1,551.55, moved between 1,548.73 and 1,559.04 throughout the day. Total turnover declined to 2.75 billion units worth RM2.25 billion from 3.22 billion units worth RM2.03 billion on Monday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said investors remained in cautious mode with most regional key indices ending in the negative territory as sentiment was affected by the sharp decline on Wall St...

Market Daily Report: Bursa Malaysia extends decline on persistent selling

  KUALA LUMPUR (May 9): Bursa Malaysia extended its decline to end lower on Monday (May 9) in tandem with regional weakness, with persistent selling mainly on plantation, industrial products and services as well as technology stocks, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 15.16 points to 1,549.18 from last Friday's close of 1,564.34. The barometer index, which opened 0.54 of-a-point lower at 1,563.8 to record its intraday high, hit a low of 1,546.64 in the late afternoon session. On the broader market, losers thumped gainers 827 to 183, while 333 counters were unchanged, 902 untraded, and 17 others suspended. Total turnover increased to 3.22 billion units worth RM2.03 billion versus 3.1 billion units worth RM2.43 billion last Friday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the key regional markets were weaker, save for Shanghai, following the negative cue from Wall Street last Friday. "Moreover, th...

Market Daily Report: Bursa Malaysia ends lower on May 6 for second day running

  KUALA LUMPUR (May 6): Bursa Malaysia finished lower for the second consecutive day on Friday (May 6) with the benchmark composite index declining 1.17%, dragged down mainly by plantation, gaming and technology stocks, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) narrowed 18.64 points to end at 1,564.34, compared with Thursday’s close of 1,582.98. The barometer index opened 8.83 points lower at 1,574.15 and moved between 1,563.93 and 1,578.54 throughout the day. On the broader market, losers surpassed gainers 767 to 274, while 367 counters were unchanged, 830  untraded, and 16 others suspended. Total turnover increased to 3.10 billion units worth RM2.43 billion from 2.68 billion units worth RM2.38 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional markets also trended lower following heavy sell-down on Wall Street overnight. “As for the local bourse, despite the cautious market underto...

Market Daily Report: Bursa Malaysia ends lower on May 5, in sync with regional markets

  KUALA LUMPUR (May 5): Bursa Malaysia finished trading broadly lower on Thursday (May 5), in sync with regional markets with selling mainly on utilities and technology stocks, a dealer said.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 17.45 points or 1.09% to end at 1,582.98, compared with Friday’s close at 1,600.43. The barometer index opened 13.91 points higher at 1,614.34 and moved between 1,576.84 and 1,615.17 throughout the day. On the broader market, losers surpassed gainers 628 to 380 with 421 counters unchanged, 809  untraded, and 16 others suspended. Total turnover decreased to 2.68 billion units worth RM2.38 billion, from 2.81 billion units worth RM2.07 billion on Friday (April 29). Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regionally, key indices trended lower despite the positive cue on Wall Street overnight as investors took the opportunity to take profit. “Meanwhile, China equities were i...