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 key cities' Covid-19 restrictions.

Back home, he said the FBM KLCI ended firmer as bargain hunting emerged during the final hour of trading.

“Nonetheless, we remain cautious given the heightened market risks and volatility, therefore, profit taking may set in.

“As such, we expect the benchmark index to trend slightly lower within the 1,560-1,575 range for the remaining week, with immediate support at 1,565 and resistance at 1,580,” he told Bernama.

Regionally, the Singapore’s Straits Times Index slipped 0.2% to 3,232.49, Japan’s Nikkei 225 fell 0.33% to 27,279.8, Hong Kong’s Hang Seng rose 1.38% to 21,415.2, South Korea’s KOSPI increased 0.61% to 2,685.9, while China's SSE Composite Index gained 1.19% to 3,186.43, and Shenzhen Component put on 1.92% to 11,527.62.

On the home front, heavyweights Malayan Banking Bhd rose 12 sen to RM9.10, Public Bank Bhd rose 14 sen to RM4.73, Petronas Chemicals Group Bhd gained 26 sen to RM10.26, IHH Healthcare Bhd increased 15 sen to RM6.70, but Tenaga Nasional Bhd fell 10 sen to RM9.15.

Of the actives, Sapura Energy Bhd was flat at 8.5 sen, both Dagang NeXchange Bhd and Yong Tai Bhd added four sen to RM1.03 and 10.5 sen, respectively, while MR DIY Group (M) Bhd slid 15 sen to RM3.25, and Westports Holdings Bhd decreased 17 sen to RM3.45.

On the index board, the FBM 70 advanced 125.02 points to 13,239.12, FBMT 100 Index climbed 167.81 points to 10,858.51, FBM Emas Index bagged 160.73 points to 11,151.9, FBM Emas Shariah Index rose 124.36 points to 11,509.63, while the FBM ACE declined 10.53 points to 5,185.64.

Sector-wise, the Industrial Products and Services Index edged up 3.46 points to 203.21, the Plantation Index put on 21.21 points to 7,963.98, and the Financial Services Index improved 309.1 points to 16,910.7.

Main Market volume increased to 3.01 billion shares worth RM5.92 billion from 2.31 billion shares worth RM1.64 billion on Monday.

Warrants turnover expanded to 384.26 million units valued at RM80.84 million versus 335.84 million units valued at RM60.79 million on Monday.

ACE Market volume was marginally lower at 399.22 million shares worth RM103.63 million from 404.09 million shares worth RM120.34 million previously.

Consumer products and services counters accounted for 458.84 million shares traded on the Main Market, industrial products and services (569.55 million), construction (68.7 million), technology (263.88 million), SPAC (nil), financial services (203.31 million), property (243.63 million), plantation (98.06 million), REITs (10.18 million), closed/fund (35,000), energy (597.29 million), healthcare (97.07 million), telecommunications and media (142.18 million), transportation and logistics (185.95 million), and utilities (75.08 million).

 

 

Source: The Edge

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 research Thong Pak Leng said the FBM KLCI ended lower after a lacklustre trading session despite the positive performance across the region.

Meanwhile, key regional indices trended higher following the broadly positive cues from Wall Street on Friday.

As for the local bourse, he said investors seemed reluctant to take more significant positions due to the absence of buying catalysts while awaiting corporate results.

“We reckon that investor sentiment will remain jittery although bargain hunting may prevail, hence, we expect the FBM KLCI to move sideways, hovering at the 1,535-1,555 range for the week,” he told Bernama.

Regionally, the Singapore’s Straits Times Index added 0.26% to 3,238.92, Japan’s Nikkei 225 gained 2.19% to 27,369.43, Hong Kong’s Hang Seng rose 2.06% to 21,123.93, South Korea’s KOSPI increased 1.2% to 2,669.66, and China's SSE Composite Index gained 0.6% to 3,149.06.

Back home, heavyweights Malayan Banking Bhd fell one sen to RM8.98, Public Bank Bhd dropped three sen to RM4.59, IHH Healthcare Bhd slid five sen to RM6.55, Petronas Chemicals Group Bhd added two sen to RM10, while Tenaga Nasional Bhd was flat at RM9.25.

Of the actives, G3 Global Bhd decreased 1.5 sen to 5.5 sen, Dagang NeXchange Bhd slipped two sen to 99 sen, both Green Packet Bhd and MNC Wireless Bhd were flat at eight sen and 1.5 sen, respectively, while Sapura Energy Bhd added half-a-sen to 8.5 sen.

On the index board, the FBM ACE climbed 49.47 points to 5,196.17, and the FBM 70 put on 15.54 points to 13,114.1, while the FBM Emas Shariah Index went down 6.62 points to 11,385.27, the FBM Emas Index declined 19.95 points to 10,991.17, and the FBMT 100 Index shed 16.97 points to 10,690.7.

Sector-wise, the Industrial Products and Services Index was 0.34 of-a-point higher at 199.75, while the Plantation Index dipped 66.95 points to 7,942.77, and the Financial Services Index slid 42.81 points to 16,601.6.

Main Market volume increased to 2.31 billion shares worth RM1.64 billion from 1.79 billion shares worth RM1.71 billion last Friday.

Warrants turnover dwindled to 335.84 million units valued at RM60.79 million versus 567.8 million units valued at RM111.38 million previously.

The ACE Market volume was marginally lower at 404.09 million shares worth RM120.34 million from 424.5 million shares worth RM189.64 million last Friday.

Consumer products and services counters accounted for 815.62 million shares traded on the Main Market, industrial products and services (416.65 million), construction (90.31 million), technology (142.27 million), SPAC (nil), financial services (45.3 million), property (95.74 million), plantation (48.39 million), REITs (5.88 million), closed/fund (19,400), energy (369.22 million), healthcare (35.35 million), telecommunications and media (181.41 million), transportation and logistics (46.8 million), and utilities (18.51 million).

 

Source: The Edge

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.

Total turnover slipped to 2.78 billion units worth RM2.01 billion from 2.89 billion units worth RM1.92 billion on Thursday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional markets ended in positive territory following the broadly positive cues from Wall Street overnight, with buying interest mainly in technology and energy stocks.

“Investors also continued to pick up stocks at relatively reduced levels following recent weakness,” he told Bernama on Friday.

Regionally, Singapore’s Straits Times Index added 0.6% to 3,228.33, Japan’s Nikkei 225 gained 0.66% to 26,781.68, Hong Kong’s Hang Seng rose 2.89% to 20,697.36, South Korea’s KOSPI increased 0.98% to 2,638.05, and China's SSE Composite Index gained 0.23% to 3,130.24.

Back home, heavyweights Malayan Banking Bhd (Maybank) added one sen to RM8.99, Public Bank Bhd and Hong Leong Bank Bhd improved two sen each to RM4.62 and RM21 respectively, while Tenaga Nasional Bhd (TNB) and CIMB Group Holdings Bhd rose four sen each to RM9.25 and RM5.05 respectively.

Of the actives, Cnergenz Bhd declined five sen to 62.5 sen, Ta Win Holdings Bhd fell one sen to 11.5 sen, Dagang NeXchange Bhd (DNeX) shed three sen to RM1.01, while Sapura Energy Bhd earned half a sen to eight sen.

On the index board, the FBM ACE decreased 59.28 points to 5,146.70, the FBM Emas Shariah Index went up 38.07 points to 11,391.89, the FBM Emas Index improved 26.58 points to 11,011.12, the FBMT 100 Index climbed 31.87 points to 10,707.68, and the FBM 70 put on 10.56 points to 13,098.56.

Sector-wise, the Industrial Products and Services Index was 1.07 points higher at 199.41, the Plantation Index gained 21.03 points to 8,009.72, and the Financial Services Index rose 54.50 points to 16,644.41.

The Main Market volume decreased to 1.79 billion shares worth RM1.71 billion from 1.86 billion shares worth RM1.72 billion on Thursday.

Warrant turnover widened to 567.8 million units valued at RM111.38 million versus 379.61 million units valued at RM74.24 million previously.

The ACE Market volume expanded to 424.5 million shares worth RM189.64 million from 649.14 million shares worth RM181.37 million.

Consumer products and services counters accounted for 221.82 million shares traded on the Main Market, followed by industrial products and services (486.15 million), construction (58.16 million), technology (197.61 million), special purpose acquisition companies (nil), financial services (45.17 million), property (133.64 million), plantation (40.44 million), real estate investment trusts (4.88 million), closed/funds (25,700), energy (383.89 million), healthcare (53.76 million), telecommunications and media (85.11 million), transportation and logistics (35.51 million), and utilities (40.44 million).

 

 

Source: The Edge

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 billion from 2.34 billion units worth RM1.8 billion on Wednesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI moved higher as investors continued to bargain-hunt for stocks at reduced levels after the recent heavy selldown.

“Regionally, the key indices closed mixed as investors remained wary of the economic impact of China’s ongoing Covid-19 lockdowns. Meanwhile, the Bank of Korea’s announcement of a 25-basis point increase in its base rate to 1.75% would add some pressure on equities' valuations.

“As for the local bourse, we believe the market was oversold [earlier]. However, we advise investors to stay alert to increasing market volatility and external uncertainties. We anticipate the benchmark index to remain sideways within the range of 1,535-1,545 towards the weekend, with immediate support at 1,520 and resistance at 1,560,” he told Bernama on Thursday.

Regionally, Singapore’s Straits Times Index added 0.93% to 3,209.28, Japan’s Nikkei 225 slipped 0.27% to 26,604.84, Hong Kong’s Hang Seng declined 0.27% to 20,116.20, South Korea’s KOSPI decreased 0.18% to 2,612.45 and China's SSE Composite Index gained 0.5% to 3,123.11.

Back home, heavyweights Malayan Banking Bhd (Maybank) and Tenaga Nasional Bhd (TNB) added two sen each to RM8.96 and RM9.21 respectively, Public Bank Bhd advanced five sen to RM4.60, IHH Healthcare Bhd went up six sen to RM6.49, while Petronas Chemicals Group Bhd slipped six sen to RM9.87.

Of the actives, Serba Dinamik Holdings Bhd and Cypark Resources Bhd increased 1.5 sen each to 11.5 sen and 39.5 sen respectively, Cnergenz Bhd rose 10.5 sen to 67.5 sen, while Sapura Energy Bhd declined one sen to 7.5 sen.

On the index board, the FBM ACE increased 15.06 points to 5,205.98, the FBM Emas Shariah Index went up 20.90 points to 11,353.82, the FBM Emas Index improved 35.09 points to 10,984.54, the FBMT 100 Index climbed 42.66 points to 10,675.81 and the FBM 70 put on 68.52 points to 13,088.

Sector-wise, the Industrial Products and Services Index was 0.88 of a point higher at 198.34, the Plantation Index slid 79.55 points to 7,988.69 and the Financial Services Index rose 94.18 points to 16,589.91.

Main Market volume increased to 1.86 billion shares worth RM1.72 billion from 1.6 billion shares worth RM1.65 billion on Wednesday.

Warrant turnover swelled to 379.61 million units valued at RM74.24 million versus 290.37 million units valued at RM59.9 million previously.

ACE Market volume expanded to 649.14 million shares worth RM181.37 million from 454.77 million shares worth RM98.44 million.

Consumer products and services counters accounted for 308.93 million shares traded on the Main Market, followed by industrial products and services (474.44 million), construction (46.75 million), technology (131.89 million), special purpose acquisition companies (nil), financial services (49 million), property (157.17 million), plantation (49.59 million), real estate investment trusts (14.80 million), closed/funds (100), energy (471.82 million), healthcare (58.86 million), telecommunications and media (44.34 million), transportation and logistics (35.42 million), and utilities (19.89 million).

 

Source: The Edge

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 billion on Tuesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional markets showed a mixed trend as market sentiment was impacted by US central bankers backing two more big interest rate hikes as early as in June and July to fight 40-year-high inflation, while investors were taking wait-and-see approach to assess the real impact.

“On the domestic front, the KLCI saw some bargain-hunting. However, buying interest was still weak amid the global uncertainty and increased market risks. We expect investor sentiment to remain jittery. Nonetheless, we reckon accumulation of stocks to persist on dips.

“Hence, we foresee the KLCI remaining in consolidation mode and hovering within the 1,525-1,545 range for the remainder of the week. Technically speaking, we spot the immediate support at 1,520 and resistance at 1,560,” he told Bernama.

Regionally, Singapore’s Straits Times Index fell 0.16% to 3,189.81, Japan’s Nikkei 225 slipped 0.26% to 26,677.80, Hong Kong’s Hang Seng advanced 0.29% to 20,171.27, South Korea’s KOSPI increased 0.44% to 2,617.22 and China's SSE Composite Index gained 1.19% to 3,107.46.

Among the heavyweights, Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd were flat at RM8.96 and RM4.95 respectively, whereas Tenaga Nasional Bhd (TNB) improved five sen to RM9.19 and Petronas Chemicals Group Bhd fell three sen to RM9.93.

Of the actives, Cypark Resources Bhd dropped 12 sen to 38 sen and Hibiscus Petroleum Bhd slipped six sen to RM1.37, while MNC Wireless Bhd and Serba Dinamik Holdings Bhd were unchanged at 1.5 sen and 10 sen respectively.

On the index board, the FBM ACE decreased 0.52 of a point to 5,190.92, the FBM Emas Shariah Index dipped 18.04 points to 11,332.92, the FBM Emas Index eased 0.83 of a point to 10,949.45, the FBMT 100 Index added 11.01 points to 10,633.15 and the FBM 70 trimmed 62.09 points to 13,019.48.

Sector-wise, the Industrial Products and Services Index was 1.14 point lower at 197.46, the Plantation Index went up 73.31 points to 8,068.24 and the Financial Services Index increased 21.16 points to 16,495.73.

Main Market volume decreased to 1.6 billion shares worth RM1.65 billion from 2.31 billion shares worth RM1.85 billion on Tuesday.

Warrant turnover increased to 290.37 million units valued at RM59.9 million versus 372.8 million units valued at RM74.44 million previously.

ACE Market volume shrank by half to 454.77 million shares worth RM98.44 million from 912.11 million shares worth RM168.8 million a day ago.

Consumer products and services counters accounted for 205.42 million shares traded on the Main Market, followed by industrial products and services (420.25 million), construction (80.37 million), technology (124.26 million), special purpose acquisition companies (nil), financial services (49.2 million), property (157.64 million), plantation (38.52 million), real estate investment trusts (5.54 million), closed/funds (nil), energy (404.5 million), healthcare (30.3 million), telecommunications and media (42.92 million), transportation and logistics (29.43 million), and utilities (13.58 million).

 

Source: The Edge

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 suspended.

Total turnover rose to 3.6 billion units worth RM2.09 billion from 3.41 billion units worth RM1.88 billion on Monday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regionally, the key indices trended lower as investors remained concerned over the uncertain global economic outlook and monetary policies.

Meanwhile, he said analysts have been trimming growth forecasts for US corporates as the US Federal Reserve seemed certain to hike interest rates by a full percentage point over the next two months.

“As for the local bourse, we believe the local market will face some headwinds amid the heightened regional market volatility although we do not discount the possibility of bargain hunting to emerge.

“As such, we expect the key index to hover at the 1,525-1,545 range for the remaining week. Technically, we spot the immediate support at 1,520 and resistance at 1,560,” he told Bernama on Tuesday.

Regionally, Singapore’s Straits Times Index fell 0.47% to 3,198.47, Japan’s Nikkei 225 slipped 0.94% to 26,748.14, Hong Kong’s Hang Seng dipped 1.75% to 20,112.1, South Korea’s KOSPI decreased 1.57% to 2,605.87, while China's SSE Composite Index fell 2.41% to 3,070.93.

Among other heavyweights, Malayan Banking Bhd slipped two sen to RM8.96, Petronas Chemcicals Group Bhd fell three sen to RM9.96, Tenaga Nasional Bhd and CIMB Group Holdings Bhd reduced six sen each to RM9.14 and RM4.96, respectively, while Hong Leong Bank Bhd rose six sen to RM21.12.

Of the actives, Green Packet Bhd shed 1.5 sen to eight sen, KNM Group Bhd declined four sen to 15.5 sen, while MNC Wireless Bhd, Sapura Energy Bhd and ACE Market debutant Cnergenz Bhd were flat at 1.5 sen, 8.5 sen and 58 sen, respectively.

On the index board, the FBM ACE decreased 84.64 points to 5,191.44, the FBM Emas Shariah Index dipped 113.61 points to 11,350.96, the FBM Emas Index lost 92.3 points to 10,950.28, the FBMT 100 Index slid 82.82 points to 10,622.14, and the FBM 70 dropped 122.17 points to 13,081.57.

Sector-wise, the Industrial Products and Services Index was 0.98 of-a-point lower at 198.6, the Plantation Index lost 46.18 points to 7,994.93, while the Financial Services Index fell 80.38 points to 16,474.57.

Main Market volume decreased to 2.31 billion shares worth RM1.85 billion from 2.61 billion shares worth RM1.71 billion on Monday.

Warrants turnover increased to 372.8 million units worth RM74.44 million versus 345.56 million units valued at RM66.01 million previously.

ACE Market volume rose to 912.11 million shares worth RM168.8 million from 451.9 million shares worth RM107.71 million on Monday.

Consumer products and services counters accounted for 257.75 million shares traded on the Main Market, industrial products and services (359.44 million), construction (51.89 million), technology (133.9 million), SPAC (nil), financial services (52.56 million), property (144.95 million), plantation (69.76 million), REITs (8.11 million), closed/fund (8,000), energy (633.17 million), healthcare (56.83 million), telecommunications and media (492.82 million), transportation and logistics (30.54 million), and utilities (20.68 million).

 

Source: The Edge

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 rose to 3.41 billion units worth RM1.88 billion from 2.39 billion units worth RM1.99 billion last Friday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the key regional indices were mixed as worries about inflation and rising interest rates continued to dampen sentiment, while selling in technology stocks weighed on the Chinese markets.

“Investors continue to assess the economic growth outlook for the world’s largest economies and whether the recent sell-off will carry on. Back home, we believe the market undertone will remain cautious amid the volatile regional performance although bargain hunting may prevail.

“As such, we anticipate the FBM KLCI to continue to move sideways within the 1,545-1,565 range for the week. Technically, we see the immediate resistance at 1,570 and support at 1,540,” he told Bernama on Monday.

Regionally, Singapore’s Straits Times Index fell 0.83% to 3,213.65, Japan’s Nikkei 225 rose 0.98% to 27,001.52, Hong Kong’s Hang Seng slipped 1.19% to 20,470.06, South Korea’s Kospi increased 0.31% to 2,647.38, while China's SSE Composite Index improved 0.01% to 3,146.86 and Shenzhen Component Index dipped 0.06% to 11,447.95.

Among local heavyweights, Malayan Banking Bhd, Public Bank Bhd and IHH Healthcare Bhd added two sen each to RM8.98, RM4.54 and RM6.55, respectively, Petronas Chemicals Group Bhd was flat at RM9.99, and Tenaga Nasional Bhd fell four sen to RM9.20.

Of the actives, Sapura Energy Bhd advanced 1.5 sen to 8.5 sen, MQ Technology Bhd perked up half-a-sen to six sen, Serba Dinamik Holdings Bhd shed 2.5 sen to 11 sen, KNM Group Bhd eased half-a-sen to 19.5 sen, while Techna-X Bhd was flat at 5.5 sen.

On the index board, the FBM ACE decreased 67.01 points to 5,276.08, the FBM Emas Shariah Index slipped 64.7 points to 11,464.57, the FBM Emas Index lost 28.79 points to 11,042.58, the FBMT 100 Index reduced 30.11 points to 10,704.96, and the FBM 70 added 26.72 points to 13,203.74.

Sector-wise, the Industrial Products and Services Index was 0.21 of-a-point higher at 199.58, the Plantation Index dropped 216.69 points to 8,041.11, while the Financial Services Index fell 6.75 points to 16,554.95.

Main Market volume rose to 2.61 billion shares worth RM1.71 billion from 1.67 billion shares worth RM1.8 billion on Friday.

Warrants turnover decreased to 345.56 million units worth RM66.01 million versus 353.44 million units valued at RM75.96 million previously.

ACE Market volume increased to 451.9 million shares worth RM107.71 million from 369.93 million shares worth RM108.32 million last Friday.

Consumer products and services counters accounted for 207.97 million shares traded on the Main Market, industrial products and services (369.08 million), construction (50.71 million), technology (122.06 million), SPAC (nil), financial services (47.55 million), property (161.27 million), plantation (49.11 million), REITs (11.57 million), closed/fund (12,000), energy (1.43 billion), healthcare (64.01 million), telecommunications and media (40.62 million), transportation and logistics (24.8 million), and utilities (26.1 million).

 

Source: The Edge

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 billion from 2.69 billion units worth RM2.23 billion on Thursday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI erased earlier gains to close flattish as investors took profits during the final minutes of trading.

"Key regional indices trended higher despite the broadly negative cues from Wall Street overnight as the People’s Bank of China preferred to stick to its prudent monetary policy by cutting a key interest rate.

"On the domestic front, we are cautiously optimistic although there’s improvement in the regional market sentiment," he told Bernama.

Regionally, Singapore’s Straits Times Index went up 1.65% to 3,243.47, Japan’s Nikkei 225 rose 1.27% to 26,739.03, Hong Kong’s Hang Seng surged 2.96% to 20,717.24, South Korea’s Kospi increased 1.81% to 2,639.29, while China's SSE Composite Index improved 1.6% to 3,146.57.

Among the heavyweights, Malayan Banking Bhd and CIMB Group Holdings Bhd shed two sen each to RM8.96 and RM5.02 respectively, while Public Bank Bhd and IHH Healthcare Bhd fell five sen each to RM4.52 and RM6.53 respectively, and Petronas Chemicals Group Bhd erased three sen to RM9.99.

Of the actives, Serba Dinamik Holdings Bhd decreased one sen to 13.5 sen, MNC Wireless Bhd inched down half-a-sen to two sen, while KNM Group Bhd gained 2.5 sen to 20 sen, Sapura Energy Bhd perked up half-a-sen to seven sen, and Techna-X Bhd was flat at 5.5 sen.

Among the top gainers, Hong Leong Financial Group Bhd improved 40 sen to RM19.50, Kobay Technology Bhd put on 31 sen to RM3.51, Sam Engineering & Equipment (M) Bhd bagged 25 sen to RM4.40, Sarawak Oil Palms Bhd climbed 22 sen to RM5.94 and Transocean Holdings Bhd rose 21 sen to RM2.60.

Of the top losers, Nestle (Malaysia) Bhd shed 80 sen to RM133.60, Khind Holdings Bhd dropped 35 sen to RM2.95, Quality Concrete Holdings Bhd declined 18 sen to RM1.02, Far East Holdings Bhd dipped 15 sen to RM3.55 and Subur Tiasa Holdings Bhd slid 12 sen to RM1.71.

On the index board, the FBM ACE increased 54.92 points to 5,343.09, the FBM Emas Shariah Index rose 58.55 points to 11,529.27, the FBM Emas Index improved 25.1 points to 11,071.37, the FBMT 100 Index bagged 13.74 points to 10,735.07, and the FBM 70 added 81.15 points to 13,177.02.

Sector-wise, the Industrial Products and Services Index was 2.28 points higher at 199.37, the Plantation Index climbed 20.47 points to 8,257.8, but the Financial Services Index eased 32.01 points to 16,561.7.

Main Market volume declined to 1.67 billion shares worth RM1.8 billion from 1.89 billion shares worth RM2.05 billion on Thursday.

Warrants turnover decreased to 353.44 million units worth RM75.96 million versus 383.38 million units valued at RM75.23 million on Thursday.

ACE Market volume shrank to 369.93 million shares worth RM108.32 million from 418.24 million shares worth RM105.4 million previously.

Consumer products and services counters accounted for 191.64 million shares traded on the Main Market, industrial products and services (312.97 million), construction (48.45 million), technology (144.87 million), SPAC (nil), financial services (62.44 million), property (124.42 million), plantation (76.36 million), REITs (13.54 million), closed/fund (4,200), energy (553.2 million), healthcare (50.74 million), telecommunications and media (30.58 million), transportation and logistics (30.35 million), and utilities (30.12 million).

 

Source: The Edge

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 Leng said Bursa Malaysia closed broadly lower due to heavy selling pressure across the region.

"Regionally, key indices were mostly lower, save for the Chinese market, following a steep selldown on Wall Street as investors worry about high inflation and a possible economic recession in the United States (US).

"The US consumer price index rose 8.3% in April from a year earlier, continuing the trend of high inflation rates over recent months, while the prolonged Ukraine-Russia war has accelerated surging prices of energy and grains which will have negative impact on the global economy," he told Bernama.

Singapore’s Straits Times fell 0.95% to 3,194.66, Japan’s Nikkei 225 shed 1.89% to 26,402.84, Hong Kong’s Hang Seng slid 2.54% to 20,120.68, South Korea’s Kospi decreased 1.28% to 2,592.34, while China's SSE Composite Index rose 0.36% to 3,096,96.

As for the local bourse, Thong said the benchmark index remained well supported around the 1,545-1,550 level despite drastic movement in regional indices and Wall Street.

"We reckon the short-term market sentiment will remain jittery amid the weak regional performance although bargain hunting may prevail.

"We anticipate the benchmark index to trend sideways, within the range of 1,545-1,555 towards the weekend, with immediate support at 1,540 and resistance at 1,570," he added.

Among the heavyweights, Malayan Banking Bhd fell one sen to RM8.98, Public Bank Bhd dipped four sen to RM4.57, CIMB Group Holdings Bhd eased three sen to RM5.04, while Petronas Chemicals Group Bhd rose four sen to RM10.02, and IHH Healthcare Bhd improved 12 sen to RM6.58.

Of the actives, Serba Dinamik Holdings Bhd decreased 1.5 sen to 14.5 sen and Sapura Energy Bhd fell one sen to 6.5 sen, while Techna-X Bhd and MNC Wireless Bhd gained half-a-sen each to 5.5 sen and 2.5 sen, respectively, and Country Heights Holdings Bhd was flat at 83.5 sen.

Among the top losers, Malaysian Pacific Industries Bhd slipped 82 sen to RM30.80, Dutch Lady Milk Industries Bhd lost 48 sen to RM33.52, Sarawak Oil Palms Bhd slid 33 sen to RM5.72, Berjaya Food Bhd gave up 27 sen to RM4.30, and Petronas Dagangan Bhd declined 26 sen to RM21.26.

On the index board, the FBM ACE fell 34.2 points to 5,288.17, the FBM Emas Shariah Index dropped 72.16 points to 11,470.72, the FBM Emas Index slid 54.34 points to 11,046.27, the FBMT 100 Index fell 46.38 points to 10,721.33, and the FBM 70 lost 90.76 points to 13,095.87.

Sector-wise, the Industrial Products and Services Index was 1.89 points lower at 197.09 and the Financial Services Index dropped 73.2 points to 16,593.71, but the Plantation Index increased 14.57 points to 8,237.33.

Main Market volume shrank to 1.89 billion shares worth RM2.05 billion from 2.79 billion shares worth RM2.06 billion on Wednesday.

Warrants turnover improved to 383.38 million units valued at RM75.23 million versus 300.87 million units valued at RM55.87 million on Wednesday.

ACE Market volume decreased to 418.24 million shares worth RM105.4 million from 642.73 million shares worth RM138.67 million previously.

Consumer products and services counters accounted for 295.08 million shares traded on the Main Market, industrial products and services (276.54 million), construction (59.03 million), technology (143.68 million), SPAC (nil), financial services (63.26 million), property (188.69 million), plantation (50.6 million), REITs (17.85 million), closed/fund (2,000), energy (655.72 million), healthcare (52.92 million), telecommunications and media (28.55 million), transportation and logistics (30.59 million), and utilities (24.46 million).

 

Source: The Edge

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 retail sales data from the United States.

Singapore’s Straits Times rose 1.01% to 3,234.08, Japan’s Nikkei bagged 0.94% to 26,911.2, Hong Kong’s Hang Seng gained 0.2% to 20,644.28, and South Korea’s Kospi increased 0.21% to 2,625.98.

"On the domestic front, we expect the local market to continue its uptrend due to improved market sentiment while Malaysian equities' valuations are still cheaper as compared with regional peers, hence offer better potential upsides for foreign investors.

"However, investors should stay alert on the increasing market volatility and uncertainty," he told Bernama.

As such, Thong said the FBM KLCI is expected to trade within the 1,545-1,565 range for the remaining week.

"Technically, the immediate resistance is at 1,570 and support at 1,540," he added.

Among the heavyweights, Malayan Banking Bhd rose four sen to RM8.99, Public Bank Bhd gained eight sen to RM4.61, IHH Healthcare Bhd added three sen to RM6.46, CIMB Group Holdings Bhd increased one sen to RM5.07, while Petronas Chemicals Group Bhd fell four sen to RM9.98.

Of the actives, Sapura Energy Bhd was flat at 7.5 sen, Techna-X Bhd fell three sen to five sen, Serba Dinamik Holdings Bhd eased half-a-sen to 16 sen, Yong Tai Bhd dropped 1.5 sen to 8.5 sen, while SMTrack Bhd perked up two sen to nine sen.

Among the top gainers, Nestle (Malaysia) Bhd advanced RM1.60 to RM134.40, Hong Leong Bank Bhd put on 46 sen to RM21.20, PPB Group Bhd rose 38 sen to RM16.92, Malaysia Airports Holdings Bhd bagged 36 sen to RM6.56, and Texchem Resources Bhd surged 25 sen to RM3.40.

On the index board, the FBM ACE dropped 40.87 points to 5,322.37, the FBM Emas Shariah Index erased 6.39 points to 11,542.88, while the FBM Emas Index advanced 40.2 points to 11,100.61, the FBMT 100 Index climbed 42.63 points to 10,767.71, and the FBM 70 gained 47.78 points to 13,186.63.

Sector-wise, the Plantation Index decreased 37.43 points to 8,222.76 and the Industrial Products and Services Index was 1.44 points lower at 198.98, but the Financial Services Index jumped 132.42 points to 16,666.91.

Main Market volume shrank to 2.79 billion shares worth RM2.06 billion from 4.72 billion shares worth RM2.59 billion on Tuesday.

Warrants turnover improved to 300.87 million units valued at RM55.87 million versus 271.92 million units valued at RM55.55 million on Tuesday.

The ACE Market volume increased to 642.73 million units worth RM138.67 million from 514.4 million units worth RM144.57 million previously.

Consumer products and services counters accounted for 256.37 million shares traded on the Main Market, industrial products and services (351.3 million), construction (81.51 million), technology (245.3 million), SPAC (nil), financial services (72.21 million), property (272.68 million), plantation (39.81 million), REITs (9.36 million), closed/fund (43,500), energy (1.34 billion), healthcare (46.3 million), telecommunications and media (38.48 million), transportation and logistics (23.95 million), and utilities (17.91 million).

 

Source: The Edge

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 territory with high buying interest in technology stocks.

“Sentiments also rose on news that Shanghai plans to gradually reopen after spending more than six weeks in lockdown," he told Bernama.

On the FBM KLCI, Thong said Rakuten Trade is cautiously optimistic given the improvement in the local market sentiment and foreign support, while on the other hand, investors shall stay alert to the increasing market volatility and external uncertainties.

“Hence, we anticipate the benchmark index to trend sideways within the 1,540-1,560 range, with immediate support at 1,530 and resistance at 1,575," he added.

Among the heavyweights, Malayan Banking Bhd and IHH Healthcare Bhd eased one sen each to RM8.95 and RM6.43 respectively, while Public Bank Bhd was flat at RM4.53.

Petronas Chemicals Group Bhd gained three sen to RM10.02 and CIMB Group Holdings Bhd was two sen higher at RM5.06.

Of the actives, Serba Dinamik Holdings Bhd rose 4.5 sen to 16.5 sen, Sapura Energy Bhd increased three sen to 7.5 sen, KNM Group Bhd gained half-a-sen to 18 sen, Hibiscus Petroleum Bhd was 12 sen higher at RM1.47, while Techna-X Bhd declined 3.5 sen to eight sen.

Nestle (Malaysia) Bhd stood as the top gainer on Tuesday after rising by RM1.30 to RM132.80, followed by Petron Malaysia Refining & Marketing Bhd, which strengthened 69 sen to RM6.71, and Hengyuan Refining Company Bhd, which added 42 sen to RM7.40, while Press Metal Aluminum Holdings Bhd gained 34 sen to RM5.38 and Panasonic Manufacturing Malaysia Bhd bagged 30 sen to RM28.30.

On the index board, FBM ACE increased 20.61 points to 5,363.24, FBM Emas Index advanced 49.61 points to 11,060.41, FBMT 100 Index firmed 37.82 points to 10,725.08, FBM Emas Shariah Index widened 80.86 points to 11,549.27, and FBM 70 added 82.24 points to 13,138.85.

Sector-wise, the Financial Services Index perked up 0.12 of-a-point to 16,534.49, the Industrial Products and Services Index was 3.63 points higher at 200.42, and the Plantation Index climbed 80.91 points to 8,260.19.

Main Market volume widened to 4.72 billion shares worth RM2.59 billion from 2.12 billion shares worth RM2.32 billion on Friday.

Warrants turnover reduced to 271.92 million units valued at RM55.55 million versus 305.24 million units valued at RM58.76 million.

ACE Market volume declined to 514.4 million units worth RM144.57 million from 736.17 million units worth RM132.24 million previously.

Consumer products and services counters accounted for 286.34 million shares traded on the Main Market, industrial products and services (509 million), construction (120.73 million), technology (210.91 million), SPAC (nil), financial services (80.96 million), property (194.29 million), plantation (66.14 million), REITs (7.64 million), closed/fund (28,800), energy (3.08 billion), healthcare (58.92 million), telecommunications and media (40.56 million), transportation and logistics (42.21 million), and utilities (24.05 million).

 

Source: The Edge

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 for the first quarter of 2022 (1Q22).

Earlier, Bank Negara Malaysia (BNM) announced that Malaysia’s economy had rebounded in 1Q22, registering a 5% growth versus a contraction of 0.5% in 1Q21.

Governor Tan Sri Nor Shamsiah Mohd Yunus said the domestic economy is expected to improve further this year, with growth projected to be between 5.3% and 6.3% in 2022.

"With Malaysia having entered into the transition to endemic phase this month, we may expect further improvements in GDP growth in the subsequent quarters ahead," Leong told Bernama.

Among the heavyweight counters, Malayan Banking Bhd eased 11 sen to RM8.96, Public Bank Bhd lost 10 sen to RM4.53, IHH Healthcare Bhd and CIMB Group Holdings Bhd inched down one sen to RM6.44 and RM5.04 respectively, while Petronas Chemicals Group Bhd gained 12 sen to RM9.99.

Of the active stocks, Serba Dinamik Holdings Bhd added 3.5 sen to 12 sen, MNC Wireless Bhd, DGB Asia Bhd, and Techna-X Bhd all remained unchanged at two sen, two sen, and 11.5 sen respectively, while KNM Group Bhd gained two sen to 17.5 sen, and Dagang NeXchange Bhd advanced seven sen to RM1.

On the index board, the FBM ACE improved 112.85 points to 5,342.63, FBM Emas Index advanced 57.76 points to 11,010.8, FBMT 100 Index added 46.78 points to 10,687.26, FBM Emas Shariah Index ticked up 166.63 points to 11,468.41, and the FBM 70 rose 89.77 points to 13,056.61.

Sector-wise, the Financial Services Index slid 167.11 points to 16,534.37, while the Industrial Products and Services Index was 3.32 points higher at 196.79, and the Plantation Index climbed 157.39 points to 8,179.28.

Main Market volume narrowed to 2.12 billion shares worth RM2.32 billion from 2.45 billion shares worth RM2.29 billion on Thursday.

Warrants turnover reduced to 305.24 million units valued at RM58.76 million versus 345.22 million units valued at RM68.47 million on Thursday.

ACE Market volume declined to 736.17 million units worth RM132.24 million from 820.02 million units worth RM149.96 million previously.

Consumer products and services counters accounted for 285.4 million shares traded on the Main Market, industrial products and services (303.9 million), construction (107.26 million), technology (206.8 million), SPAC (nil), financial services (67.77 million), property (158.99 million), plantation (73.78 million), REITs (12.49 million), closed/fund (14,000), energy (754.61 million), healthcare (62.22 million), telecommunications and media (18.01 million), transportation and logistics (49.05 million), and utilities (22.47 million).

Bursa Malaysia and its subsidiaries will be closed on Monday, May 16 for a replacement holiday in conjunction with the Wesak Day celebration and will resume its operations on Tuesday, May 17.

 

Source: The Edge

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 highlighted by oil futures rally.

"This is all about concern about a recession. The inflation numbers we got this morning (May 11, 2022) were not good, worse than expectations ... There's high food prices and increasing concern inflation numbers are going to be sticky on the high side," Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder, was quoted as saying by Reuters.

The strategist also pointed to a flattening yield curve, which refers to the difference between long-term and short-term Treasury yields as an ominous sign.

"We've a very flat yield curve that's been flirting with inversion. That scares traders about the prospects for a recession. There's too many investors out there who believe the Fed can engineer a soft landing. That looks increasingly doubtful,” Ghriskey said.

Meanwhile, Bernama reported that across Bursa, losers trumped gainers 874 to 209, while 336 counters were unchanged.

Total turnover widened to 3.61 billion units worth RM2.51 billion on Thursday from 2.4 billion units worth RM1.91 billion on Wednesday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional indices were mostly in the negative territory following the continued selldown on Wall Street as investors remained jittery about the faster interest rate hikes.

On the domestic front, he said the KLCI has breached the 1,540 support level, hence the local market may experience some headwinds amidst heightening regional volatility.

"However, we believe that this provides buying opportunities, given the cheap valuation of local equities against regional peers.

"As such, we expect the KLCI to trade within the range of 1,535-1,550 towards the weekend, with immediate support at 1,530 and resistance at 1,575," he told Bernama.

Among the KLCI’s 30 components, Malayan Banking Bhd’s share price dropped three sen to RM9.07, Public Bank Bhd and Petronas Chemicals Group Bhd both fell two sen to RM4.63 and RM9.87, respectively, while IHH Healthcare Bhd gained three sen to RM6.45.

 

Source: The Edge

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 given the increasing market volatility both local and regionally.

“Hence, we expect the FBM KLCI to stay in consolidation mode and hover within 1,545-1,565 for the remainder of the week, with immediate support at 1,545 followed by 1,530 while resistance will be at 1,580,” Thong said.

Meanwhile, Bank Negara Malaysia (BNM) on Wednesday announced that the overnight policy rate (OPR) will be increased by 25 basis points to 2% after its third Monetary Policy Committee (MPC) meeting this year.

The central bank said the sustained reopening of the global economy and the improvement in labour market conditions have continued to support the recovery of economic activity.

Among the heavyweights, Malayan Banking Bhd improved 10 sen to RM9.10, Public Bank Bhd rose one sen to RM4.65, CIMB Group Holdings Bhd inched up two sen to RM5.10, Petronas Chemicals Group Bhd stayed flat at RM9.89, while IHH Healthcare Bhd slipped one sen to RM6.42.

Of the actives, Serba Dinamik Holdings Bhd fell 1.5 sen to six sen, Techna-X Bhd and Widad Group Bhd stayed flat at 11.5 sen and 36 sen respectively, CSH Alliance Bhd inched up one sen to 12.5 sen, while MY EG Services Bhd eased 1.5 sen to 88.5 sen.

Across the index board, FBM Emas Index rose 1.88 points to 11,112.34, FBMT 100 Index erased 1.56 points to 10,785.93, FBM Emas Shariah Index gave up 33.42 to 11,515.12, FBM ACE slipped 13.94 points to 5,359.14 and FBM 70 reduced 46.61 points to 13,254.57.

Sector-wise, the Financial Services Index expanded 105.68 points to 16,766.12, the Industrial Products and Services Index was 0.22 of-a-point higher at 197.38 and the Plantation Index added 87.92 points to 8,234.02.

Main Market volume narrowed to 1.74 billion shares worth RM1.74 billion from 1.98 billion shares worth RM2.08 billion on Tuesday.

Warrants turnover declined to 251.33 million units valued at RM46.66 million from 352.23 million units valued at RM61.16 million on Tuesday.

ACE Market volume shrank to 406.83 million shares worth RM118.36 million versus 415.82 million shares worth RM113.96 million previously.

Consumer products and services counters accounted for 210.56 million shares traded on the Main Market, industrial products and services (458.43 million), construction (74.01 million), technology (132.83 million), SPAC (nil), financial services (94.33 million), property (104.82 million), plantation (79.61 million), REITs (11.89 million), closed/fund (10,100), energy (494.8 million), healthcare (29.90 million), telecommunications and media (17.93 million), transportation and logistics (18.07 million), and utilities (11.41 million).

 

Source: The Edge

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 Street overnight.

"As for the local bourse, we believe investors will continue to bargain hunt for stocks at reduced levels following the recent selldown, despite the volatility in regional markets.

"We anticipate the FBM KLCI to move within the 1,545-1,560 range for the remainder of the week with immediate support at 1,545, followed by 1,530, and resistance at 1,580," he told Bernama.

Among the heavyweights, Malayan Banking Bhd was flat at RM9, Public Bank Bhd gained eight sen to RM4.64, IHH Healthcare Bhd rose seven sen to RM6.43, while Petronas Chemicals Group Bhd lost 11 sen to RM9.89, and CIMB Group Holdings Bhd eased two sen to RM5.08.

Of the actives, Serba Dinamik Holdings Bhd erased 3.5 sen to 7.5 sen, Hibiscus Petroleum Bhd slid two sen to RM1.35, both Dagang NeXchange Bhd and Widad Group Bhd were flat at RM1 and 36 sen, respectively, and Ta Win Holdings Bhd inched up half-a-sen to 13.5 sen.

Across the index board, the FBM 70 advanced 76.63 points to 13,301.18, the FBM Emas Index added 26.85 points to 11,110.46, the FBMT 100 Index expanded 43.19 points to 10,787.49, and the FBM Emas Shariah Index climbed 20.57 points to 11,548.54, while the FBM ACE shed 9.93 points to 5,373.08, 

Sector-wise, the Financial Services Index improved 52.4 points to 16,660.44, while the Industrial Products and Services Index was 3.03 points lower at 197.16, and the Plantation Index gave up 105.33 points to 8,146.1.

The Main Market volume declined to 1.98 billion shares worth RM2.08 billion from 2.4 billion shares worth RM1.9 billion on Monday.

Warrants turnover improved to 352.23 million units valued at RM61.16 million from 207.99 million units valued at RM21.89 million on Monday.

The ACE Market volume shrank to 415.82 million shares worth RM113.96 million versus 613.79 million shares worth RM107.08 million previously.

Consumer products and services counters accounted for 274.11 million shares traded on the Main Market, industrial products and services (409.23 million), construction (148.77 million), technology (161.85 million), SPAC (nil), financial services (81.72 million), property (112.89 million), plantation (82.67 million), REITs (10.88 million), closed/fund (15,400), energy (592.07 million), healthcare (33.27 million), telecommunications and media (26.45 million), transportation and logistics (24.88 million), and utilities (16.66 million).

 

Source: The Edge

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, the tightening lockdown in Shanghai, China weighed on investor sentiment as this may have impacted the global economic growth," he told Bernama.

On the domestic front, he noted that the FBM KLCI has broken its 1,580 and 1,550 support in two consecutive trading days. 

"We believe the market undertone will remain cautious amid weak regional performance although bargain-hunting activities may prevail," he said.

Among the heavyweights, Petronas Chemicals Group Bhd declined 20 sen to RM10, Press Metal Aluminium Holdings Bhd fell 18 sen to RM5.20, while IOI Corporation Bhd and Sime Darby Plantation Bhd both slipped 17 sen to RM4.39 and RM4.92, respectively.

Of the actives, Serba Dinamik Holdings Bhd slid 24 sen to 11 sen, Euro Holdings Bhd dipped 3.5 sen to 19 sen, Techna-X Bhd inched down half-a-sen to 11.5 sen, PUC Bhd was one sen lower at five sen, and Hibiscus Petroleum Bhd eased three sen to RM1.37.

Across the index board, the FBM ACE shed 114.25 points to 5,383.01, the FBM 70 dipped 161.52 points to 13,224.55, the FBM Emas Index slid 121.95 points to 11,083.61, the FBMT 100 Index slipped 111.21 points to 10,744.3, and the FBM Emas Shariah Index erased 165.78 points to 11,527.97.

Sector-wise, the Financial Services Index fell 67.79 points to 16,608.04, the Industrial Products and Services Index was 3.91 points lower at 200.19, and the Plantation Index declined 281.67 points to 8,251.43.

Main Market volume rose to 2.4 billion shares worth RM1.9 billion compared with 1.82 billion shares worth RM2.24 billion last Friday.

Warrants turnover dwindled to 207.99 million units valued at RM21.89 million from 348.95 million units valued at RM61.01 million previously.

ACE Market volume shrank to 613.79 million shares worth RM107.08 million versus 932.12 million shares worth RM130.62 million.

Consumer products and services counters accounted for 341.26 million shares traded on the Main Market, industrial products and services (446.53 million), construction (117.56 million), technology (137.07 million), SPAC (nil), financial services (68.89 million), property (115.73 million), plantation (81.53 million), REITs (13.87 million), closed/fund (2,000), energy (955.77 million), healthcare (33.6 million), telecommunications and media (30.12 million), transportation and logistics (23.53 million), and utilities (28.99 million).

 

Source: The Edge

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 undertone, we expect bargain hunting to prevail, given the cheap valuations of local stocks, continuous inflow of foreign investors, and improving macroeconomic situation in the country,” he told Bernama.

Among the heavyweights, both Maybank and CIMB gained one sen to RM9.0 and RM5.12 respectively, while Public Bank lost four sen to RM4.59, Petronas Chemicals eased 10 sen to RM10.20, and Sime Darby Plantation gave up 18 sen to RM5.09.

Of the actives, both Xox and Metronic Global fell half-a-sen to 1.5 sen, while AT Systematization, Techna-X and PUC Bhd were unchanged at 1.5 sen, 12 sen and six sen respectively. 

On the index board, FBM 70 reduced 237.48 points to 13,386.07, FBM Emas Index dropped 144.21 points to 11,205.56, FBMT 100 Index decreased 144.00 points to 10,855.51, FBM Emas Shariah Index slid 206.25 points to 11,693.75, and FBM ACE slumped 77.30 points to 5,497.26.

Sector-wise, the Financial Services Index dropped 35.49 points to 16,675.83, the Industrial Products and Services Index was 4.69 points lower at 204.10, and the Plantation Index dwindled 230.84 points to 8,533.10.

The Main Market volume strengthened to 1.82 billion shares worth RM2.24 billion, compared with 1.71 billion shares worth RM2.17 billion on Thursday. 

The turnover for warrants narrowed to 348.95 million units valued at RM61.01 million, from 378.02 million units valued at RM69.70 million.

The ACE Market volume widened to 932.12 million shares worth RM130.62 million, versus 595.41 million shares worth RM142.07 million previously.

Consumer products and services counters accounted for 325.57 million shares traded on the Main Market, industrial products and services (477.57 million), construction (88.41 million), technology (149.40 million), SPAC (nil), financial services (99.55 million), property (173.50 million), plantation (66.54 million), REITs (12.03 million), closed/fund (1,000), energy (287.32 million), healthcare (38.40 million), telecommunications and media (37.22 million), transportation and logistics (35.74 million), and utilities (33.53 million).

 

 

Source: The Edge

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 in positive territory as they returned to trade following the holiday break,” he told Bernama.

Regionally, the Singapore Straits Times Index fell 0.16% to 3,344.04, South Korea's Kospi  slid 0.11%to 2,677.57, Japan’s Nikkei was 0.11% weaker at 26,818.53 and Hong Kong’s Hang Seng Index narrowed 0.36% to 20,793.40.

Thong said the FBM KLCI opened higher with buying mainly on plantation and gaming stocks, however, profit-taking activities emerged when the benchmark index reached its intraday high of 1,615.17 and continued its downtrend till the market closed.

“With the strong resistance at the 1,600 level, we expect the FBM KLCI to stay in consolidation mode for the time being.

“Hence, we anticipate the index to trend within a tight range of between 1,580 and 1,590 towards the weekend,” he said. 

On the local bourse, heavyweights Maybank slid eight sen to RM8.99, Public Bank fell six sen to RM4.63, IHH Healthcare slipped one sen to RM6.60, CIMB lost nine sen to RM5.11, while Petronas Chemicals rose eight sen to RM10.30.

Of the actives, both PUC Bhd and Ta Win Holdings eased 1.5 sen to six sen and 13.5 sen respectively, MN Holdings erased 2.5 sen to 22 sen, while Permaju Industries stood at 9.5 sen and Sedania Innovator gained 11 sen to 47 sen. 

On the index board, FBM 70 decreased 148.62 points to 13,623.56, FBM Emas Index dropped  116.31 points to 11,349.77, FBMT 100 Index reduced 120.99 points to 10,999.51, FBM Emas Shariah Index slumped 122.28 points to 11,900 and FBM ACE slid 4.11 points to 5,574.56.

Sector-wise, the Financial Services Index shrank 215.48 points to 16,711.32, the Industrial Products and Services Index was 1.24 points lower at 208.79 and the Plantation Index dipped 57.07 points to 8,763.94.

The Main Market volume was higher at 1.71 billion shares worth RM2.17 billion, compared with 1.66 billion shares worth RM1.83 billion on Friday. 

The turnover for warrants narrowed to 378.02 million units valued at RM69.70 million against 473.01 million units valued at RM95.58 million.

The ACE Market volume decreased to 595.41 million shares worth RM142.07 million versus 674.39 million shares worth RM135.61 million previously.

Consumer products and services counters accounted for 322.72 million shares traded on the Main Market, industrial products and services (493.41 million), construction (84.07 million), technology (148.33 million), SPAC (nil), financial services (95.47 million), property (94.55 million), plantation (84.76 million), REITs (19.12 million), closed/fund (nil), energy (206.81 million), healthcare (55.56 million), telecommunications and media (33.91 million), transportation and logistics (23.99 million), and utilities (44.99 million).

Bursa Malaysia Bhd and its subsidiaries were closed from May 2 till May 4 in conjunction with Workers’ Day replacement holiday and Hari Raya Aidilfitri holidays.

 

Source: The Edge