Market Daily Report: Bursa ends at day's low on heavy last-minute selling

 

KUALA LUMPUR (June 30): Bursa Malaysia erased gains made earlier on Thursday (June 30) to end at its intraday low following heavy selling in the last 10 minutes of trading, an analyst said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) lost 0.5%, or 7.26 points, to finish at 1,444.22 from Wednesday's close of 1,451.48.

The benchmark index, which opened 4.02 points better at 1,455.5, moved between 1,444.22 and 1,460.3 throughout the day.

Overall market breadth was negative with losers outpacing gainers 520 to 327, while 396 counters were unchanged, 1,039 untraded, and 65 others suspended.

Total turnover narrowed to 2.26 billion units worth RM1.97 billion from 2.37 billion units valued at RM1.77 billion on Wednesday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regionally, key indices also finished broadly lower following negative cues from Wall Street overnight.

The Nikkei 225 in Tokyo declined after Japan’s May industrial production slumped 7.2% compared with the previous month.

Meanwhile, he said Chinese markets closed higher as China reported stronger factory activity in June.

Data from the National Bureau of Statistics showed that the manufacturing Purchasing Managers' Index (PMI) rose to 50.2 in June from 49.6 in May, the first expansion since February.

According to Thong, this positive news would likely benefit Malaysia given that China is Malaysia’s largest trading partner.

“Back home, we believe the direction of Malaysian equities is still very much dependent on regional and global volatilities although bargain hunting may prevail due to attractive valuations.

“As such, we expect the FBM KLCI to trend sideways with an upside bias within the region of 1,440-1,460 towards the weekend with immediate support at 1,430 while support at 1,460,” he told Bernama.

Thong further said as the market entered the second half of the year, there could be optimism for the equity market as foreign funds would return to the region.

"Due to the economic problems and inflation challenges in the United States and European Union, investors are likely to go into regions which are still experiencing economic growth, and Asia-Pacific is one of the prime destinations,” he said.

He also said the online brokerage's year-end FBM KLCI target remained unchanged at 1,670 based on 13.5 times calendar year 2022 earnings.

Meanwhile, among the heavyweights, Public Bank Bhd fell five sen to RM4.37, Malayan Banking Bhd lost six sen to RM8.59, Top Glove Corp Bhd dipped eight sen to RM1.04, Tenaga Nasional Bhd eased 10 sen to RM7.98, Petronas Chemicals Group Bhd decreased seven sen to RM9, and IHH Healthcare Bhd was down five sen to RM6.45.

Top Glove led the most active stock list on Bursa Malaysia during the session, followed by Cypark Resources Bhd, which dropped 3.5 sen to 34.5 sen; Reach Energy Bhd and Widad Group Bhd, which were flat at 5.5 sen and 36.5 sen, respectively; and MQ Technology Bhd, which shed half-a-sen to 25 sen.

Among the top losers, Nestle (Malaysia) Bhd fell 70 sen to RM132.60, Kuala Lumpur Kepong Bhd dropped 50 sen to RM21.94, and Petronas Dagangan Bhd slid 30 sen to RM21.12.

On the index board, the FBM ACE contracted 88.71 points to 4,751.38, the FBM Emas Index dropped 42.41 points to 10,307.26, the FBM Emas Shariah Index fell 35.28 points to 10,503.97, the FBM 70 was 9.86 points easier at 12,493.21, and the FBMT 100 Index trimmed 40.39 points to 10,047.49.

Sector-wise, the Financial Services Index retreated 78.69 points to 15,984.18 and the Plantation Index was 69.81 points weaker at 6,900.83, but the Industrial Products and Services Index was 0.42 of-a-point higher at 181.7.

Main Market volume decreased to 1.41 billion shares valued at RM1.74 billion from 1.52 billion shares worth RM1.55 billion on Wednesday.

Warrants turnover widened to 473.03 million units worth RM104.77 million against 463.47 million units valued at RM93.38 million on Wednesday.

ACE Market volume fell to 378.5 million shares valued at RM118.99 million versus 385.71 million shares valued at RM96.16 million previously.

Consumer products and services counters accounted for 196.07 million shares traded on the Main Market, industrial products and services (403.66 million), construction (45.26 million), technology (120.83 million), SPAC (nil), financial services (66 million), property (69.24 million), plantation (30.62 million), REITs (2.62 million), closed/fund (nil), energy (169.42 million), healthcare (204 million), telecommunications and media (63.22 million), transportation and logistics (26.57 million), and utilities (13.62 million).

 

Source: The Edge

Market Daily Report: Bursa ends lower on weak regional sentiment

 

KUALA LUMPUR (June 29): Shares on Bursa Malaysia closed broadly lower on Wednesday (June 29) in sync with the weak regional market sentiment, said an analyst.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.22% or 3.26 points to 1,451.48 from Tuesday's close of 1,454.74.

The benchmark index, which opened 4.29 points lower at 1,450.45, moved between 1,445.23 and 1,459.86 throughout the trading session.

The overall market breadth was negative with decliners outpacing gainers 461 to 368, while 399 counters were unchanged, 1,078 untraded, and 89 others suspended.

Total turnover expanded to 2.37 billion units valued at RM1.77 billion from 2.28 billion units valued at RM1.61 billion on Tuesday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI tracked the key regional indices, which closed mostly lower following steep selloffs on Wall Street overnight.

He said market sentiment turned negative as the US consumer confidence crumbled to a 16-month low amid rapidly rising inflation.

“As for the local bourse, the FBM KLCI trended in a tight range today (Wednesday) due to lack of buying support.

“Investors are wary on external factors given the increasing regional market volatility and uncertainties on global economic prospects,” he told Bernama.

The online equities broker said the local bourse would likely remain jittery although bargain hunting may prevail in the short term.

"Hence, we expect the FBM KLCI to trend in range bound, hovering within 1,440-1,460 for the remainder of the week, with immediate support at 1,430 and resistance at 1,460,” said Thong.

Among Bursa Malaysia heavyweights, Press Metal Aluminium Holdings Bhd slipped 21 sen to RM4.65, Sime Darby Plantation Bhd slid 10 sen to RM4.43, Public Bank Bhd eased four sen to RM4.42, Petronas Chemicals Group Bhd lost 18 sen to RM9.07, and PPB Group Bhd dropped 40 sen to RM15.70.

Malayan Banking Bhd added one sen to RM8.65 and IHH Healthcare Bhd gained two sen to RM6.50.

Of the actives, Reach Energy Bhd shed half-a-sen to 5.5 sen, Top Glove Corp Bhd increased seven sen to RM1.12, Borneo Oil Bhd was flat at 2.5 sen, Cypark Resources Bhd fell seven sen to 38 sen, and Hibiscus Petroleum Bhd was down four sen to 99 sen.

On the index board, the FBM Emas Index was 26.18 points easier at 10,349.67, the FBM 70 slipped 31.18 points to 12,503.07, the FBM Emas Shariah Index declined 16.49 points to 10,539.25, and the FBMT100 Index lost 23.24 points to 10,087, but the FBM ACE rose 45.23 points to 4,840.09.

Sector-wise, the Financial Services Index dipped 50.99 points to 16,062.87, the Plantation Index was 71.53 points lower at 6,971.64, and the Industrial Products and Services Index eased 3.28 points to 181.28.

Main Market volume decreased to 1.52 billion shares valued at RM1.55 billion from 1.54 billion shares worth RM1.14 billion on Tuesday.

Warrants turnover widened to 463.47 million units worth RM93.38 million against 442.16 million units valued at RM103.18 million on Tuesday.

ACE Market volume swelled to 385.71 million shares valued at RM96.16 million versus 119.4 million shares worth RM96.16 million previously.

Consumer products and services counters accounted for 150.09 million shares traded on the Main Market, industrial products and services (457.18 million), construction (45.48 million), technology (157.99 million), SPAC (nil), financial services (47.36 million), property (91.67 million), plantation (27.66 million), REITs (4.56 million), closed/fund (nil), energy (270.16 million), healthcare (205.09 million), telecommunications and media (34.27 million), transportation and logistics (23.6 million), and utilities (12.32 million).

 

Source: The Edge

Market Daily Report: Bursa ends higher in line with improved market sentiment

 

KUALA LUMPUR (June 28): Bursa Malaysia closed higher on Tuesday (June 28), lifted by buying interest in most heavyweights and in line with improving market sentiment across the region, said an analyst.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.16% or 16.62 points to 1,454.74 from Monday's close of 1,438.12.

The benchmark index, which opened 0.86 of-a-point firmer at 1,438.98, moved between 1,431.35 and 1,455.46 throughout the day.

On the broader market, gainers led losers 470 to 410, while 420 counters were unchanged, 1,042 untraded, and 79 others suspended.

Total turnover narrowed to 2.28 billion units valued at RM1.61 billion from 2.65 billion units worth RM1.43 billion on Monday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regionally, key indices ended mostly higher as foreign funds returned to the region amid economic concerns in the United States and European Union.

On the local front, he said the benchmark index closed higher as bargain hunting continued following a heavy selldown over the past two to three weeks.

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

“As such, we expect the FBM KLCI to trend within the region of 1,430-1,460 for the remaining of the week with immediate support at 1,430 and resistance at 1,490,” Thong told Bernama.

Among the Bursa heavyweights, PPB Group Bhd gained RM1.10 to RM16.10, Press Metal Aluminium Holdings Bhd rose 17 sen to RM4.86, and Sime Darby Plantation Bhd increased 13 sen to RM4.43. Malayan Banking Bhd advanced six sen to RM8.64, Public Bank Bhd added two sen to RM4.46, Petronas Chemicals Group Bhd perked up five sen to RM9.25, IHH Healthcare Bhd was flat at RM6.48, and CIMB Group Holdings Bhd climbed eight sen to RM5.

Of the actives, Sapura Energy Bhd and Yong Tai Bhd added half-a-sen each to five sen and nine sen, respectively, Green Packet Bhd gave up half-a-sen to six sen, Dagang NeXchange Bhd rose two sen to 81.5 sen, and Hibiscus Petroleum Bhd increased eight sen to RM1.03.

On the index board, the FBM Emas Index was 89.52 points firmer at 10,375.85, the FBM 70 gained 9.71 points to 12,534.26, the FBM Emas Shariah Index climbed 100.2 points to 10,555.74, and the FBMT100 Index jumped 90.1 points to 10,111.13, but the FBM ACE fell 36.79 points to 4,794.86.

Sector-wise, the Financial Services Index rose 98.73 points to 16,113.86, the Plantation Index improved 119.31 points to 7,042.17 and the Industrial Products and Services Index bagged 1.68 points to 184.56.

Main Market volume decreased to 1.54 billion shares worth RM1.14 billion from 1.64 billion shares valued at RM1.19 billion on Monday.

Warrants turnover reduced to 442.16 million units valued at RM103.18 million against 592.57 million units worth RM108.71 million on Monday.

ACE Market volume fell to 297.45 million shares worth RM96.16 million versus 414.6 million shares valued at RM141.01 million previously.

Consumer products and services counters accounted for 161.26 million shares traded on the Main Market, industrial products and services (385.02 million), construction (21.53 million), technology (225.15 million), SPAC (nil), financial services (51.61 million), property (160.43 million), plantation (34.35 million), REITs (6.36 million), closed/fund (25,600), energy (298.35 million), healthcare (59.1 million), telecommunications and media (107.54 million), transportation and logistics (18.23 million), and utilities (15.43 million).

Market Daily Report: Bursa ends broadly higher

 

KUALA LUMPUR (June 27): Bursa Malaysia closed broadly higher on Monday (June 27) on persistent buying interest mainly in technology and energy stocks, said an analyst.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.42 points to 1,438.12 from Friday's close of 1,436.7.

The benchmark index, which opened 2.12 points higher at 1,438.82, fluctuated between 1,431.65 and 1,441.03 throughout the trading session.

On the broader market, gainers beat losers 546 to 365, while 393 counters were unchanged, 1,004 untraded, and 55 others suspended.

Total turnover expanded to 2.65 billion units worth RM1.43 billion from 2.46 billion units worth RM1.47 billion on Friday.

Key regional markets also continued to trend higher following positive cues on Wall Street including the upbeat performance of the tech-heavy Nasdaq Composite last Friday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI, which ended 0.1% higher, was supported by improved investors’ sentiment amid the strengths of regional currencies against the US dollar.

“As for the local bourse, we are cautiously optimistic about performance of the FBM KLCI in the near term, amid the improvement in regional sentiment while valuation of local equities remain attractive as compared with its regional peers.

“Nonetheless, investors should be wary of both regional and global volatility which remains high,” he told Bernama.

The online equity broker anticipates the FBM KLCI to move wider within the 1,430-1,460 range for remaining week, with immediate support at 1,430 and resistance at 1,490.

Meanwhile, after a torrid time in June, which saw the FBM KLCI slip 8.5% month-to-date, Kenanga Research in its Weekly Technical Review said for the second half of the year, investors may want to exercise prudence given the historical pattern.

Statistically, it said the key market barometer had ended in the red in July in six of the last 10 years, including the most recent year, posting an average monthly return of +1% since 2012.

“For the coming week, investors may look forward to a mixture of macro data releases and corporate news flows.

“On Thursday, there will be the May banking statistics publication and the outcome of the Organisation of the Petroleum Exporting Countries (OPEC) meeting. And this Friday, the Malaysia Manufacturing Purchasing Managers Index (PMI) report will be out,” it said.

Among Bursa Malaysia heavyweights, Hong Leong Bank Bhd rose 32 sen to RM20.48, Sime Darby Plantation Bhd improved eight sen to RM4.30, MISC Bhd was 12 sen higher at RM7.06, IHH Healthcare Bhd was six sen better at RM6.48 and MR DIY Group (M) Bhd added three sen to RM2.

Malayan Banking Bhd, meanwhile, declined two sen to RM8.58, Petronas Chemicals Group Bhd lost five sen to RM9.20, but Public Bank Bhd added one sen to RM4.44.

Of the actives, Green Packet Bhd was flat at 6.5 sen, Reach Energy Bhd fell half-a-sen to eight sen, Dagang NeXchange Bhd rose three sen to 79.5 sen, Sapura Energy Bhd was flat at 4.5 sen, and Nylex (M) Bhd bagged 5.5 sen to 29.5 sen.

On the index board, the FBM Emas Index was 28.93 points firmer at 10,286.32, FBM 70 gained 80.39 points to 12,524.55, FBM Emas Shariah Index climbed 40.9 points to 10,455.54, FBMT100 Index increased 22.85 points to 10,021.03, and the FBM ACE perked up 61.76 points to 4,831.65.

Sector-wise, the Financial Services Index rose 50.68 points to 16,015.13, the Plantation Index was 5.13 points better at 6,922.86, but the Industrial Products and Services Index eased 0.49 of-a-point to 182.88.

Main Market volume widened to 1.64 billion shares worth RM1.19 billion from 1.35 billion shares valued at RM1.46 billion on Friday.

Warrants turnover expanded to 592.57 million units valued at RM108.71 million against 507.65 million units worth RM117.54 million previously.

ACE Market volume increased to 414.6 million shares worth RM141.01 million versus 399.79 million shares worth RM112.33 million on Friday.

Consumer products and services counters accounted for 208.5 million shares traded on the Main Market, industrial products and services (413.92 million), construction (47.18 million), technology (177.84 million), SPAC (nil), financial services (37.38 million), property (108.19 million), plantation (25.26 million), REITs (7.52 million), closed/fund (1,000), energy (295.53 million), healthcare (57.37 million), telecommunications and media (233.73 million), transportation and logistics (24.26 million), and utilities (13.19 million).

 

Source: The Edge

Market Daily Report: Bursa ends on higher note

 

KUALA LUMPUR (June 24): Bursa Malaysia ended the last day of the week on a higher note, with buying interest seen mainly in technology and healthcare stocks and selling in plantation counters, said a dealer. 

At 5pm on Friday (June 24), the benchmark FBM KLCI settled 5.65 points, or 0.39%, higher at 1,436.70 from Thursday’s close at 1,431.05.

The key index, which opened 0.25 of a point higher at 1,431.30, fluctuated between 1,431.30 and 1,440.73 throughout the day.

On the broader market, gainers beat losers 519 to 345, while 405 counters were unchanged, 1,020 untraded and 10 others suspended.

Total turnover expanded to 2.46 billion units worth RM1.47 million from 2.34 billion units worth RM1.56 billion on Thursday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI trended higher due to bargain-hunting activities amid improving sentiment across the region.

"The key regional markets continued to trend higher following positive cues from Wall Street overnight," he told Bernama. 

Back home, he said, Rakuten has been cautiously optimistic given the overall improved sentiment both regionally and globally, with the local market expected to remain in an oversold position.  

"Nonetheless, investors should remain cautious as the market has been turbulent in recent weeks, with investors trying to determine whether a recession is looming," he said.

Looking at the increasing market volatility, Thong anticipates the KLCI to trend in a wider range of 1,430-1,460 next week, with immediate support at 1,430 and resistance at 1,490. 

Among Bursa heavyweights, Inari Amertron Bhd added seven sen to RM2.53, Hartalega Holdings Bhd lifted five sen to RM2.74, IHH Healthcare Bhd gained six sen to RM6.36 and Malayan Banking Bhd (Maybank) rose four sen to RM8.56, while Top Glove Corp Bhd was unchanged at RM1.05. 

Of the actives, Dagang NeXchange Bhd (DNeX) improved one sen to 75.5 sen, Cypark Resources Bhd added 4.5 sen to 42 sen, Reach Energy Bhd gained three sen to 5.5 sen, TWL Holdings Bhd was flat at seven sen and Hibiscus Petroleum Bhd shed three sen to 93.5 sen.

On the index board, the FBM Emas Index climbed 50.15 points to 10,257.39, the FBM 70 added 100.27 points to 12,444.15, the FBMT 100 Index gained 49.08 points to 9,998.18, the FBM Emas Shariah Index increased 61.65 points to 10,414.64 and the FBM ACE rose 23.28 points to 4,769.89.

Sector-wise, the Financial Services Index advanced 43.86 points to 15,964.45 and the Industrial Products and Services Index firmed 2.09 points to 183.37, while the Plantation Index tumbled 36.55 points to 6,917.73.

The Main Market volume widened to 1.56 billion shares worth RM12.48 billion from 1.38 billion shares worth RM1.32 billion on Thursday.

Warrant turnover expanded to 507.65 million units valued at RM117.54 million against 422.8 million units valued at RM100.04 million on Thursday.

The ACE Market volume dropped to 399.79 million shares worth RM112.33 million from 535.47 million shares worth RM137.41 million previously.

Consumer products and services counters accounted for 175.91 million shares traded on the Main Market, followed by industrial products and services (456.27 million), construction (43.71 million), technology (157.05 million), special purpose acquisition companies (nil), financial services (28.59 million), property (186.12 million), plantation (33.13 million), real estate investment trusts (6.49 million), closed/funds (nil), energy (308.95 million), healthcare (112.18 million), telecommunications and media (20.76 million), transportation and logistics (21.3 million), and utilities (10.01 million).

 

 

Source: The Edge

Market Daily Report: Bursa erases early gains to end flat amid choppy trading

 

KUALA LUMPUR (June 23): Bursa Malaysia erased early gains to end flat following a choppy trading session amid cautious investors sentiment on concerns over inflation, a dealer said. 

At 5 pm on Thursday (June 23), the benchmark FBM KLCI had fallen 0.05 of a point to 1,431.05 from Wednesday's close at 1,431.10.

The key index, which opened 3.40 points firmer at 1,434.50, fluctuated between 1,427.78 and 1,441.47 throughout the day.

On the broader market, losers beat gainers 500 to 348, while 410 counters were unchanged, 1,008 untraded and nine others suspended.

Total turnover shrank to 2.34 billion units worth RM1.56 billion from 2.72 billion units worth RM1.9 billion on Wednesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the local market was dragged down by selling mainly of energy, industrial products and real estate investment trust (REIT) stocks.

Regionally, he said the key indices closed mostly higher due to bargain-hunting activities after the sell-offs on Wednesday.

"Back home, we believe the market undertone will remain cautious amid increasing regional volatility although bargain-hunting activities may prevail," he told Bernama. 

As such, he expects the benchmark index to hover in the 1,425-1,445 range towards the weekend, with immediate support at 1,415 and resistance at 1,490.

Bursa heavyweights Malayan Banking Bhd (Maybank) shed four sen to RM8.56, Petronas Chemicals Group Bhd dipped 15 sen to RM9.15 and IHH Healthcare Bhd eased two sen to RM6.36, while Public Bank Bhd and CIMB Group Holdings Bhd were both unchanged at RM4.40 and RM4.90 respectively. 

Of the actives, YX Precious Metals Bhd declined one sen to 27 sen, Hibiscus Petroleum Bhd shed 5.5 sen to 93.5 sen, Dagang NeXchange Bhd (DNeX) eased 1.5 sen to 75.5 sen, Yong Tai Bhd was flat at nine sen and Widad Group Bhd added one sen to 37 sen.

On the index board, the FBM Emas Index dipped 4.01 points to 10,207.23, FBM 70 slid 15.63 points to 12,343.88 and the FBMT 100 Index slipped 3.24 points to 9,949.10, while the FBM Emas Shariah Index increased nine points to 10,352.98 and FBM ACE widened 31.12 points to 4,746.61.

Sector-wise, the Financial Services Index tumbled 55.53 points to 15,920.59, the Industrial Products and Services Index shed 1.78 points to 181.28, and the Plantation Index climbed 164.65 points to 6,954.28.

The Main Market volume narrowed to 1.38 billion shares worth RM1.32 billion from 1.73 billion shares worth RM1.65 billion on Wednesday.

Warrant turnover dwindled to 422.8 million units valued at RM100.04 million against 547.89 million units valued at RM106.68 million on Wednesday.

The ACE Market volume rose to 535.47 million shares worth RM137.41 million from 441.9 million shares worth RM137.99 million previously.

Consumer products and services counters accounted for 199.56 million shares traded on the Main Market, followed by industrial products and services (392.24 million), construction (34.49 million), technology (150.44 million), special purpose acquisition companies (nil), financial services (39.04 million), property (150.29 million), plantation (35.89 million), REITs (83.67 million), closed/funds (1,000), energy (229.12 million), healthcare (67.25 million), telecommunications and media (49.60 million), transportation and logistics (17.25 million), and utilities (12.91 million).

 

Source: The Edge

Market Daily Report: Bursa ends lower on persistent selling

 

KUALA LUMPUR (June 22): Heavy selling of plantation, energy and healthcare stocks dragged Bursa Malaysia to finish at its lowest level in 25 months, dealers said. 

At 5pm on Wednesday (June 22), the barometer index closed 26.78 points or 1.83% lower at 1,431.10 from Tuesday's close at 1,457.88.

This is the weakest level last seen on the local exchange when it closed at 1,435.12 on May 20, 2020.

The key index opened 3.25 points firmer at 1,461.13 and hit a high of 1,461.53 in early morning before slipping to its intraday low of 1,431.10 at the close.

On the broader market, losers thumped gainers 640 to 255, while 381 counters were unchanged, 999 untraded and 19 others suspended.

Total turnover decreased to 2.72 billion units worth RM1.9 billion from 2.79 billion units worth RM1.86 billion on Tuesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the decline on the local bourse was in tandem with the regional performance whereby the key indices were broadly lower as investors were cautious ahead of US Federal Reserve chair Jerome Powell's key testimony before Congress later, which is expected to sound extremely hawkish.

"Additionally, worries about an economic downturn in the US could spread to other regions of the world,” Thong told Bernama. 

The direction of the local bourse in the near term remains uncertain and would depend very much on regional volatility, he added.

"Nonetheless, at current levels, we believe the FBM KLCI remains in an oversold position, hence we expect the benchmark index to stage a rebound soon," he said.

Thong anticipates the local bourse to move higher within the range of 1,430 to 1,460 for the remainder of the week, with immediate resistance at 1,490 and support at 1,415.

Bursa heavyweights Sime Darby Plantation Bhd shed 38 sen to RM4.04, Kuala Lumpur Kepong Bhd (KLK) slid RM1.30 to RM22.14, IHH Healthcare Bhd fell 11 sen to RM6.38, Hartalega Holdings Bhd slipped 23 sen to RM2.17 and Dialog Group Bhd eased three sen to RM2.07.  

Of the actives, TWL Holdings Bhd declined one sen to 6.5 sen, whereas Top Glove Corp Bhd decreased seven sen to RM1.01, while MNC Wireless Bhd was unchanged at 1.5 sen, Lay Hong Bhd added 1.5 sen to 28.5 sen and Cypark Resources Bhd gained one sen to 42.5 sen. 

On the index board, the FBM Emas Index slumped 183.60 points to 10,211.24, the FBM Emas Shariah Index decreased 223.56 points to 10,343.98, FBM 70 slid 192.92 points to 12,359.51, the FBMT 100 Index slipped 178.96 points to 9,952.34 and FBM ACE declined 109.49 points to 4,715.49.

Sector-wise, the Financial Services Index sank 183.06 points to 15,976.12, the Plantation Index tumbled 325.34 points to 6,789.63, and the Industrial Products and Services Index shed 3.30 points to 183.06.

The Main Market volume expanded to 1.73 billion shares worth RM1.65 billion from 1.69 billion shares worth RM1.56 billion on Tuesday.

Warrant turnover improved to 547.89 million units valued at RM106.68 million against 543.84 million units valued at RM102.68 million on Tuesday.

The ACE Market volume dwindled to 441.9 million shares worth RM137.99 million from 555.05 million shares worth RM200.21 million previously.

Consumer products and services counters accounted for 332.79 million shares traded on the Main Market, followed by industrial products and services (471.3 million), construction (49.78 million), technology (154.45 million), special purpose acquisition companies (nil), financial services (59.15 million), property (241.17 million), plantation (48.82 million), real estate investment trusts (6.07 million), closed/funds (nil), energy (202.52 million), healthcare (110.63 million), telecommunications and media (25.52 million), transportation and logistics (24.62 million), and utilities (11.75 million).

 

Source: The Edge

Market Daily Report: Bursa ends at intraday high on better sentiment

 

KUALA LUMPUR (June 21): Bursa Malaysia ended at its intraday high on Tuesday (June 21) due to improved market sentiment across the region, as buying support emerged primarily in healthcare, technology, as well as energy stocks, a dealer said.

At 5pm, the barometer index rose 16.64 points or 1.15% to 1,457.88 from Monday's close of 1,441.24.

After opening 2.06 points higher at 1,443.3, the market bellwether hit a low of 1,443.26 in the morning session.

On the broader market, gainers outnumbered losers 684 to 308, while 333 counters were unchanged, 950 untraded, and 19 others suspended.

Total turnover increased to 2.79 billion units worth RM1.86 billion from 2.62 billion units worth RM1.69 billion on Monday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional indices were higher as the upbeat performance of Wall Street futures lifted the overall market sentiments.

He said investors also took opportunity to bargain hunt for cheaper stocks following the recent selloffs.

“As for the local bourse, we are cautiously optimistic given the improvement in regional market sentiments, nonetheless, investors will stay cautious due to the increasing market volatility,” he told Bernama.

Thong expects the benchmark index to trend sideways with an uptrend bias within the range of 1,440-1,465 for the remainder of the week.

“On a technical point of view, we shall see immediate resistance at 1,490 and support at 1,435,” he added.

Bursa Malaysia heavyweights Malayan Banking Bhd was unchanged at RM8.65, IHH Healthcare Bhd added 16 sen to RM6.49, Hartalega Holdings Bhd was 12 sen better at RM2.94, Top Glove Corp Bhd gained 9.5 sen to RM1.08, Dialog Group Bhd expanded seven sen to RM2.10, and Inari Amertron Bhd perked up five sen to RM2.65.

Of the actives, Dagang NeXchange Bhd inched up 3.5 sen to 80 sen, SFP Tech Holdings Bhd climbed 2.5 sen to 69.5 sen, Widad Group Bhd was half-a-sen firmer at 36.5 sen, KNM Group Bhd eased half-a-sen to 13 sen, while Yong Tai Bhd was flat at nine sen.

On the index board, the FBM Emas Index put on 132.61 points to 10,394.85, FBM Emas Shariah Index increased 162.51 points to 10,567.55, FBM 70 rose 188.56 points to 12,552.43, FBMT 100 Index expanded 124.31 points to 10,131.3, and the FBM ACE climbed 87.42 points to 4,824.98.

Sector-wise, the Financial Services Index gained 114.19 points to 16,159.18, the Plantation Index inched up 0.47 of-a-point to 7,114.97 and the Industrial Products and Services Index added 2.88 points at 186.36.

Main Market volume widened to 1.69 billion shares worth RM1.56 billion from 1.43 billion shares worth RM1.28 billion on Monday.

Warrants turnover swelled to 543.84 million units valued at RM102.68 million against 389.81 million units valued at RM88.63 million on Monday.

ACE Market volume shrank to 555.05 million shares worth RM200.21 million from 801.26 million shares worth RM320.01 million previously.

Consumer products and services counters accounted for 185.97 million shares traded on the Main Market, industrial products and services (496.11 million), construction (34.83 million), technology (235.62 million), SPAC (nil), financial services (59.78 million), property (220.45 million), plantation (32.7 million), REITs (4.96 million), closed/fund (4,400), energy (194.48 million), healthcare (155.5 million), telecommunications and media (29.87 million), transportation and logistics (31.26 million), and utilities (14.16 million).

 

Source: The Edge

Market Daily Report: Bursa ends lower for second day running

 

KUALA LUMPUR (June 20): Bursa Malaysia finished lower for the second consecutive day on Monday (June 20), with the benchmark composite index declining 1.06%, due to heavy selling pressure particularly in energy, technology and plantation stocks, a dealer said.

At 5pm, the barometer index fell 15.5 points to 1,441.24 from Friday's close of 1,456.74.

The benchmark index, which opened 2.34 points lower at 1,454.4, moved between 1,437.23 and 1,454.4 throughout the day.

On the broader market, losers trumped gainers 747 to 200, while 351 counters were unchanged, 986 untraded and 18 others suspended.

Total turnover depreciated to 2.62 billion units worth RM1.69 billion from 3.06 billion units worth RM3.02 billion on Friday.

Regionally, Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key indices ended mixed as investors were concerned about the possibility of recession due to tightening monetary policies from the major central banks.

“On the domestic front, the local market is seeing heavy selling pressure by foreign funds,” he said.

He added that Rakuten Trade anticipates the FBM KLCI to trend within a wider range of 1,435-1,465 for the week with immediate support at 1,435 and resistance at 1,490 in view of the greater volatility.

Bursa heavyweights Malayan Banking Bhd slid 23 sen to RM8.65, MISC Bhd fell 21 sen to RM7.18, Press Metal Aluminium Holdings Bhd shed 11 sen to RM4.59, Tenaga Nasional Bhd declined 17 sen to RM8.13 and Public Bank Bhd lost six sen to RM4.43.

Of the actives, SFP Tech Holdings Bhd gained 37 sen to 67 sen, Cypark Resources Bhd added three sen to 37 sen, while Dagang NeXchange Bhd inched down 4.5 sen to 76.5 sen, Sapura Energy Bhd decreased half-a-sen to four sen and MNC Wireless Bhd was unchanged at 1.5 sen.

On the index board, the FBM Emas Index dipped 135.64 points to 10,262.23, FBM Emas Shariah Index declined 121.45 points to 10,405.04, FBM 70 slipped 250.55 points to 12,363.86, the FBMT 100 Index shrank 130.02 points to 10,006.99, while FBM ACE narrowed 96.42 points to 4,737.56.

Sector-wise, the Financial Services Index contracted 260.86 points to 16,044.98, the Plantation Index inched down 103.73 points to 7,114.5 and the Industrial Products and Services Index was 2.83 points lower at 183.48.

Main Market volume fell to 1.43 billion shares worth RM1.28 billion from 2.21 billion shares worth RM2.83 billion on Friday.

Warrants turnover slid to 389.81 million units valued at RM88.63 million against 482.55 million units valued at RM95.77 million on Friday.

ACE Market volume widened to 801.26 million shares worth RM320.01 million from 362.23 million shares worth RM93.03 million previously.

Consumer products and services counters accounted for 178.35 million shares traded on the Main Market, industrial products and services (417.67 million), construction (46.2 million), technology (244.9 million), SPAC (nil), financial services (52.39 million), property (76.33 million), plantation (32.89 million), REITs (6.11 million), closed/fund (21,000), energy (267.29 million), healthcare (51.75 million), telecommunications and media (15.49 million), transportation and logistics (27.78 million), and utilities (14.11 million).

 

Source: The Edge

Market Daily Report: Bursa ends the week lower

 

KUALA LUMPUR (June 17): Bursa Malaysia ended the week broadly lower with the FTSE Bursa Malaysia KLCI (FBM KLCI) declining 1.09% amid market volatility in tandem with the weak regional peers’ performance, a dealer said.

At 5pm, the barometer index fell 16.03 points to 1,456.74 from Thursday's close of 1,472.77.

The benchmark index opened 11.84 points lower at 1,460.93 and fell further to a 24-month low of 1,445.64, with the lowest level last seen on May 29, 2020 (1,448.84).

The index moved between 1,445.64 and 1,461.03 throughout the day.

On the broader market, losers trumped gainers 726 to 267, while 344 counters were unchanged, 942 untraded and 21 others suspended.

Total turnover improved to 3.06 billion units worth RM3.02 billion from 2.48 billion units worth RM1.84 billion on Thursday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regional indices trended on mixed sentiment following the negative cues overnight from global markets

"This is mainly due to rising concerns of a possible recession in the foreseeable future due to aggressive policy tightening by central banks around the world," he added. 

On the domestic front, he said the FBM KLCI’s performance had been volatile due to various external factors such as the US Federal Reserve's interest rate hike, increasing market risks and volatility in global markets.

Bursa heavyweights Malayan Banking Bhd rose 16 sen to RM8.88, while Public Bank Bhd and IHH Healthcare Bhd fell six sen to RM4.49 and RM6.28 respectively, Petronas Chemicals Group Bhd slid 11 sen to RM9.52 and CIMB Group Holdings Bhd lost 10 sen to RM4.92.

Of the actives, Sapura Energy Bhd decreased half-a-sen to 4.5 sen, Hibiscus Petroleum Bhd shed nine sen to RM1.08, Dagang NeXchange Bhd lost three sen to 81 sen, while Top Glove Corp Bhd rose 3.5 sen to RM1.01.

On the index board, the FBM Emas Index slipped 96.72 points to 10,397.87, FBM Emas Shariah Index declined 137.14 points to 10,526.49, FBM 70 lost 25.73 points to 12,614.41, the FBMT 100 Index dipped 90.21 points to 10,137.01, while FBM ACE gained 19.24 points to 4,833.98.

Sector-wise, the Financial Services Index contracted 53.43 points to 16,305.84, the Plantation Index shed 99.84 points to 7,218.23 and the Industrial Products and Services Index was 2.51 points lower at 186.31.

Main Market volume widened to 2.21 billion shares worth RM2.83 billion from 1.34 billion shares worth RM1.57 billion on Thursday.

Warrants turnover shrank to 482.55 million units valued at RM95.77 million against 605.09 million units valued at RM116.87 million on Thursday.

ACE Market volume dwindled to 362.23 million shares worth RM93.03 million from 530.35 million shares worth RM155.84 million previously.

Consumer products and services counters accounted for 232.11 million shares traded on the Main Market, industrial products and services (410.65 million), construction (47.04 million), technology (233.74 million), SPAC (nil), financial services (110.62 million), property (125.68 million), plantation (60.16 million), REITs (11.47 million), closed/fund (5,000), energy (728.25 million), healthcare (125.51 million), telecommunications and media (37.58 million), transportation and logistics (58.31 million), and utilities (30.1 million).

Market Daily Report: Bargain hunting lifts Bursa to end higher

 

KUALA LUMPUR (June 16): Bursa Malaysia ended higher on Thursday (June 16) with the FTSE Bursa Malaysia KLCI (FBM KLCI) rising by 0.94%, supported by continuous bargain hunting in selected heavyweights, amid mixed regional market performance, a dealer said.

On the broader market, however, losers outnumbered gainers 556 to 392, while 412 counters were unchanged, 919 untraded, and 13 others suspended.  

At 5pm, the barometer index rose 13.72 points to 1,472.77 from Wednesday's close of 1,459.05.

The index opened 10.05 points higher at 1,469.1 and moved between 1,461.94 and 1,476.02 throughout the day.

Total turnover improved marginally to 2.48 billion units worth RM1.84 billion from 2.43 billion units worth RM1.82 billion on Wednesday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng told Bernama that the key regional markets were mixed due to various reactions relating to the US Federal Reserve’s interest hike of 0.75%.

On the home front, he said the local market remained cheap compared to regional peers resulting in the emergence of bargain hunting.

"However, due to heightened market volatility across the region, we anticipate the benchmark index to move range-bound within 1,460-1,480 towards the weekend, with immediate support at 1,450 and resistance at 1,490," he said.

Among the heavyweights, Malayan Banking Bhd rose nine sen to RM8.72, Public Bank Bhd gained seven sen to RM4.55, Petronas Chemicals Group Bhd added 10 sen to RM9.63, and IHH Healthcare Bhd advanced 15 sen to RM6.34.

Of the actives, Top Glove Corp Bhd and Dagang NeXchange Bhd lost 3.5 sen each to 97.5 sen and 84 sen, respectively, while BCM Alliance Bhd perked up half-a-sen to three sen, LGMS Bhd climbed one sen to RM78 sen, and Yong Tai Bhd was flat at 8.5 sen.

On the index board, the FBM Emas Index improved 62.83 points to 10,494.59, the FBM Emas Shariah Index advanced 46.45 points to 10,663.63, the FBM 70 was 0.79 of-a-point higher at 12,640.14, the FBMT 100 Index increased 73.19 points to 10,227.22, while the FBM ACE declined 73.93 points to 4,814.74.

Sector-wise, the Financial Services Index put on 191.2 points to 16,359.27, the Industrial Products and Services Index was 1.47 points higher at 188.82, while the Plantation Index lost 64.43 points to 7,318.07.

Main Market volume shrank to 1.34 billion shares worth RM1.57 billion from 1.39 billion shares worth RM1.6 billion on Wednesday.

Warrants turnover expanded to 605.09 million units valued at RM116.87 million against 437.06 million units valued at RM77.75 million on Wednesday.

ACE Market volume dwindled to 530.35 million shares worth RM155.84 million from 594.64 million shares worth RM141.12 million previously.

Consumer products and services counters accounted for 186.4 million shares traded on the Main Market, industrial products and services (355.2 million), construction (49.44 million), technology (172.82 million), SPAC (nil), financial services (51.45 million), property (171.23 million), plantation (44.18 million), REITs (9.32 million), closed/fund (3,000), energy (101.25 million), healthcare (123.91 million), telecommunications and media (31.27 million), transportation and logistics (25.74 million), and utilities (16.22 million).

 

Source: The Edge

Market Daily Report: Bursa ends lower on profit-taking

 

KUALA LUMPUR (June 15): Bursa Malaysia reversed Tuesday's (June 14) gains to end lower across the board on profit-taking after a sharp rise as investors remained in a cautious mode, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 22.23 points, or 1.5% to 1,459.05 from Tuesday's close of 1,481.28.

The barometer index, which opened 0.4 of-a-point lower at 1,480.88, moved between 1,453.19 and 1,480.96 throughout the day. 

On the broader market, losers thumped gainers 731 to 231, while 383 counters were unchanged, 934 untraded, and nine others suspended.

Total turnover narrowed to 2.43 billion units worth RM1.82 billion from 2.72 billion units worth RM2.11 billion on Tuesday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng expects investor sentiment to remain soft due to external factors such as market risks and volatility in global markets amid multi-year high inflation in the United States.

"A potential aggressive interest hike by the US Federal Reserve ahead of the Federal Open Market Committee (FOMC) meeting today may put the world's largest economy into recession," he told Bernama.

Thong further noted that for the local bourse, the FBM KLCI remained in an oversold position after heavy sell-downs in the past two weeks.

Among the heavyweights, Malayan Banking Bhd fell five sen to RM8.63, Public Bank Bhd lost three sen to RM4.48, Petronas Chemicals Group Bhd dipped 13 sen to RM9.53, and IHH Healthcare Bhd decreased 11 sen to RM6.19.

Of the actives, Sapura Energy Bhd gained half-a-sen to five sen, both MQ Technology Bhd and MNC Wireless Bhd shed half-a-sen to four sen and 1.5 sen, respectively, Unitrade Industries Bhd eased 1.5 sen to 28.5 sen, and Dagang NeXchange Bhd lost 3.5 sen to 87.5 sen.

On the index board, the FBM Emas Index was 139.81 points lower at 10,431.76, the FBM Emas Shariah Index dipped 186.03 points to 10,617.18, the FBM 70 slipped 82.19 points to 12,639.35, the FBM ACE trimmed 50.91 points to 4,888.67, and the FBMT 100 Index decreased 133.86 points to 10,154.03.

Sector-wise, the Financial Services Index dropped 85.83 points to 16,168.07, the Plantation Index declined 167.81 points to 7,382.5, and the Industrial Products and Services Index was 3.09 points easier at 187.35.

Main Market volume shrank to 1.39 billion shares worth RM1.6 billion from 1.57 billion shares worth RM1.82 billion on Tuesday.

Warrants turnover narrowed to 437.06 million units valued at RM77.75 million against 446.63 million units valued at RM82.25 million on Tuesday.

ACE Market volume dwindled to 594.64 million shares worth RM141.12 million from 705.26 million shares worth RM211.23 million previously.

Consumer products and services counters accounted for 202.91 million shares traded on the Main Market, industrial products and services (318 million), construction (48.37 million), technology (139.63 million), SPAC (nil), financial services (55.42 million), property (90.78 million), plantation (32.65 million), REITs (6.48 million), closed/fund (12,000), energy (332.42 million), healthcare (95.4 million), telecommunications and media (27.16 million), transportation and logistics (24.77 million), and utilities (18.95 million).

 

Source: The Edge

Market Daily Report: FBM KLCI snaps eight-day losing streak to end in positive territory

 

KUALA LUMPUR (June 14): The FTSE Bursa Malaysia KLCI (FBM KLCI) snapped its eight-day losing streak to end in positive territory on Tuesday (June 14), rising by 1.12% as bargain-hunting activities emerged following the heavy sell-down recently, a dealer said.

At 5pm, the barometer index rose 16.45 points to 1,481.28 from Monday's close of 1,464.83.

The FBM KLCI opened 6.97 points lower at 1,457.86, but turned higher at mid-morning and moved between its year-to-date low of 1,451.18 and 1,481.72 throughout the day.

On the broader market, losers and gainers were neck and neck at 483 to 482, respectively, while 422 counters were unchanged, 876 untraded, and nine others suspended.

Total turnover declined to 2.72 billion units worth RM2.11 billion from 3.27 billion units worth RM2.26 billion on Monday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said nevertheless, investors remained cautious, believing the near-term direction of the local market would still be very much dependent on the regional volatility.

"Key regional markets are mostly in negative territory following negative cues from Wall Street overnight as bond yields struck a two-decade high on fears that aggressive United States interest rate hikes would push the world's largest economy into recession.

"As such, we anticipate the FBM KLCI to hover in the 1,460-1,490 range for the remainder of the week with immediate support at 1,450 and resistance at 1,490," he told Bernama.

Among Bursa heavyweights, Malayan Banking Bhd stayed flat at RM8.68, Public Bank Bhd added three sen to RM4.51, Petronas Chemicals Group Bhd rose 10 sen to RM9.66, and IHH Healthcare Bhd increased eight sen to RM6.30.

Of the actives, Unitrade Industries eased two sen to 30 sen, Dagang NeXchange Bhd and Yong Tai Bhd edged up half-a-sen each to 91 sen and nine sen respectively, and Top Glove Corp Bhd and Yew Lee Pacific Group Bhd remained flat at RM1.03, and 29.5 sen, respectively.

On the index board, the FBM Emas Index was 94.37 points higher at 10,571.57, the FBM Emas Shariah Index rose 122.56 points to 10,803.21, the FBM 70 added 41.92 points to 12,721.54, the FBMT 100 Index advanced 95.5 points to 10,287.89, and the FBM ACE gained 22.92 points to 4,939.58.

Sector-wise, the Financial Services Index increased 73.99 points to 16,253.9, the Plantation Index improved 167.4 points to 7,550.31, and the Industrial Products and Services Index edged up 1.62 points to 190.44.

Main Market volume fell to 1.57 billion shares worth RM1.82 billion from 1.83 billion shares worth RM2.02 billion on Monday.

Warrants turnover shrank to 446.63 million units valued at RM82.25 million against 673.16 million units valued at RM96.12 million previously.

ACE Market volume decreased to 705.26 million shares worth RM211.23 million from 759.65 million shares worth RM144.19 million on Monday.

Consumer products and services counters accounted for 227.09 million shares traded on the Main Market, industrial products and services (410.06 million), construction (50.68 million), technology (207.03 million), SPAC (nil), financial services (67.76 million), property (141.68 million), plantation (55.69 million), REITs (8.45 million), closed/fund (5,000), energy (186.48 million), healthcare (131.19 million), telecommunications and media (32.06 million), transportation and logistics (30.86 million), and utilities (20.24 million).

 

Source: The Edge

Market Daily Report: KLCI tumbles 29.12 points, Bursa decliners top 1,000

 

KUALA LUMPUR (June 13): Bursa Malaysia ended in the negative territory for the eighth consecutive day on Monday (June 13), with the benchmark index declining 1.95% as market sentiment was hit by heavy selling across the board, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 29.12 points to 1,464.83 from Friday's close of 1,493.95.

The barometer index opened 10.19 points lower at 1,483.76, its intraday high, and hit its low of 1,458.85 year-to-date in the afternoon session.

On the broader market, losers thumped gainers 1,084 to 138, while 253 counters were unchanged, 799 untraded, and 21 others suspended.

Total turnover rose to 3.27 billion units worth RM2.26 billion compared to 2.26 billion units worth RM1.69 billion on Friday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI had broken several support levels in the past two trading weeks and slumped to a YTD low on Monday, in tandem with regional weakness, influenced by steep falls on Wall Street overnight.

"The market undertone remains jittery amid the heightened global market risks and volatility. 

"Notwithstanding this, we believe the market is oversold, hence providing opportunities for investors to accumulate stocks at attractive levels given their cheaper valuations," he told Bernama.

Meanwhile, he said key regional indices also edged lower due to a surprise US inflation data that raised the possibility of an intensified monetary tightening from the US Federal Reserve.

Regionally, Singapore’s Straits Times Index shed 1.33% to 3,139.35, Japan’s Nikkei 225 slipped 3.01% to 26,987.44, Hong Kong’s Hang Seng fell 3.39% to 21,067.58, and China’s SSE Composite Index dipped 0.89% to 3,225.55.

Among the heavyweights, Malayan Banking Bhd eased seven sen to RM8.68, Public Bank Bhd lost five sen to RM4.48, IHH Healthcare Bhd shed 23 sen to RM6.22, Petronas Chemicals Group Bhd slid 14 sen to RM9.56, and CIMB Group Holdings Bhd inched down 11 sen to RM4.93.

Of the actives, Fintech Global Bhd eased half-a-sen to one sen, Top Glove Corp Bhd was down 10 sen to RM1.03, while both Sapura Energy Bhd and BCM Alliance Bhd were flat at five sen and 2.5 sen, respectively.

On the index board, the FBM Emas Index was 256.45 points lower at 10,477.2, the FBM Emas Shariah Index fell 316.59 points to 10,680.65, the FBM 70 declined 433.96 points to 12,679.62, the FBM ACE shed 217.7 points to 4,916.66, and the FBMT 100 Index decreased 236.96 points to 10,192.39.

Sector-wise, the Financial Services Index dropped 240.22 points to 16,179.91, the Plantation Index lost 213.74 points to 7,382.91 and the Industrial Products and Services Index was 4.51 points easier at 188.82.

Main Market volume expanded to 1.83 billion shares worth RM2.02 billion from 1.35 billion shares worth RM1.47 billion on Friday.

Warrants turnover swelled to 673.16 million units valued at RM96.12 million against 400.01 million units valued at RM65.98 million previously.

ACE Market volume increased to 759.65 million shares worth RM144.19 million from 509.05 million shares worth RM158.21 million last Friday.

Consumer products and services counters accounted for 256.81 million shares traded on the Main Market, industrial products and services (474.09 million), construction (89.29 million), technology (233.91 million), SPAC (nil), financial services (77.37 million), property (169.32 million), plantation (62.65 million), REITs (10.93 million), closed/fund (10,000), energy (242.46 million), healthcare (126.32 million), telecommunications and media (31.49 million), transportation and logistics (29.82 million), and utilities (26.84 million).

 

Source: The Edge

Market Daily Report: Bursa ends week on weaker note

 

KUALA LUMPUR (June 10): Bursa Malaysia ended the week on a weaker note while breaking the 1,500 psychological level on Friday (June 10), dragged down by persistent selling across the board, in tandem with regional peers, a dealer said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed 15.76 points or 1.04% lower at 1,493.95 from Thursday’s close of 1,509.71.

The benchmark index opened 4.03 points weaker at 1,505.68, which was its day’s high, and hit a low of 1,493.32 in the morning session.

On the broader market, losers thumped gainers 667 to 254, while 400 counters were unchanged, 953 untraded, and 22 others suspended.

Total turnover decreased to 2.26 billion units worth RM1.69 billion compared with 2.88 billion units worth RM2.06 billion on Thursday.

A dealer said Bursa Malaysia was in the red for the whole trading session, in sync with regional peers which took a cue from the overnight steep fall of US stocks and government bonds, ahead of the consumer price index (CPI) data Friday, as investors were expecting high US inflation print.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng told Bernama that key regional indices were mostly negative except for Chinese stocks as investors remained wary of the potential of more interest rate hikes by the Federal Reserve (Fed).

"Investors expect the Fed to raise its key interest rate next week by half of a percentage point, the second straight increase of double the usual hike, with a third to hit in July.

"The US CPI is expected to sustain above 8% consecutively for the third month and this will keep the odds of a prolonged hawkish stance by the Fed higher," he shared.

Meanwhile, Thong noted that China’s National Bureau of Statistics has reported annual inflation at 2.1%, slightly below estimates of 2.2%, while the producer price index came in within the forecast of 6.4%.

"We believe the market undertone will remain cautious amid the weak global performance although bargain hunting may prevail.

"We also reckon that recent sell-downs would provide opportunities for investors to accumulate stocks at attractive levels given their cheap valuations. As such, we anticipate the index to trend within the 1,490 to 1,510 range for next week, with immediate support at 1,475 and resistance at 1,520," he added.

Regionally, Singapore’s Straits Times Index shed 0.91% to 3,180.42, Japan’s Nikkei 225 slipped 1.49% to 27,824.29, Hong Kong’s Hang Seng eased 0.29% to 21,806.18, and South Korea’s KOSPI decreased 1.13% to 2,595.87.

However, China’s SSE Composite Index rose 1.42% to 3,284.83 while the Shenzhen Component gained 1.9% to 12,035.15.

Among the heavyweights, Malayan Banking Bhd dipped five sen to RM8.75, Public Bank Bhd fell four sen to RM4.53, and CIMB Group Holdings Bhd slid three sen to RM5.04.

Petronas Chemicals Group Bhd added six sen to RM9.70 and IHH Healthcare Bhd put on five sen to RM6.45. 

Of the actives, LGMS Bhd improved four sen to 75.5 sen, MQ Technology Bhd inched down half-a-sen to five sen, Top Glove Corp Bhd lost nine sen to RM1.13, while both Borneo Oil Bhd and MNC Wireless Bhd were flat at 2.5 sen and 1.5 sen, respectively.

On the index board, the FBM Emas Index was 108.03 points lower at 10,733.65, the FBM Emas Shariah Index slipped 111.51 points to 10,997.24, the FBM 70 declined 112.61 points to 13,113.58, the FBM ACE shed 35.58 points to 5,134.36 and the FBMT 100 Index decreased 105.15 points to 10,429.35.

Sector-wise, the Financial Services Index dropped 101.58 points to 16,420.13, the Plantation Index lost 68.72 points to 7,596.65 and the Industrial Products and Services Index was 0.71 of-a-point easier at 193.33.

Main Market volume decreased to 1.35 billion shares worth RM1.47 billion against 1.66 billion shares worth RM1.70 billion on Thursday.

Warrants turnover swelled to 400.01 million units valued at RM65.98 million versus 300.45 million units valued at RM55.52 million on Thursday.

ACE Market volume dwindled to 509.05 million shares worth RM158.21 million from 923.57 million shares worth RM302.22 million previously.

Consumer products and services counters accounted for 196.74 million shares traded on the Main Market, industrial products and services (431.19 million), construction (44.64 million), technology (100.97 million), SPAC (nil), financial services (44.42 million), property (125.91 million), plantation (46.12 million), REITs (5.04 million), closed/fund (34,000), energy (183.55 million), healthcare (86.09 million), telecommunications and media (38.66 million), transportation and logistics (25.17 million), and utilities (22.08 million).

Market Daily Report: Bursa ends lower across the board

 

KUALA LUMPUR (June 9): Bursa Malaysia ended lower across the board, in tandem with regional peers, extending its losses for the sixth consecutive day, amid the negative sentiment surrounding the region.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed 14.15 points weaker at 1,509.71 from Wednesday’s close of 1,523.86.

The benchmark index, which opened 0.55 of-a-point easier at 1,523.31, moved between 1,508 and 1,526.83 throughout the trading session.

On the broader market, losers outpaced gainers 601 to 315, while 394 counters were unchanged, 964 untraded and 10 others suspended.

Total turnover decreased to 2.88 billion units worth RM2.06 billion compared with 3.26 billion units worth RM1.96 billion on Wednesday.

A dealer said Bursa Malaysia opened easier on Thursday morning and continued to trend lower till the end of the morning session, weighed down by persistent selling in heavyweight stocks.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng told Bernama that key regional indices closed broadly negative as investors remained worried about potential recession in the US, Europe and other regional countries caused by interest rate hikes.

He said the sentiment was further exacerbated by the Organisation for Economic Co-operation and Development (OECD) warning that the world economy will pay a “hefty price” for the war in Ukraine including weaker growth, stronger inflation and persistent damage to supply chains.

“Back home, the FBM KLCI has broken the 1,550 and 1,520 supports in just a few trading days and is inching towards the critical 1,500 support level.

"We reckoned the local market would face some headwinds due to lack of buying support amid the heightened regional market volatility. As such, we expect the benchmark index to hover between the 1,500 to 1,515 range towards the weekend," he added.

Regionally, Singapore’s Straits Times Index shed 0.66% to 3,204.38, Japan’s Nikkei 225 gained 0.04% to 28,246.53, Hong Kong’s Hang Seng eased 0.66% to 21,869.05, South Korea’s KOSPI slid 0.03% to 2,625.44, and China's SSE Composite Index reduced 0.76% to 3,238.95.

Among the heavyweights, Malayan Banking Bhd eased four sen to RM8.80, Petronas Chemicals Group Bhd fell 21 sen to RM9.64, IHH Healthcare Bhd slipped 13 sen to RM6.40 while Public Bank Bhd and CIMB Group Holdings Bhd were flat at RM4.57 and RM5.07 respectively.

Of the actives, Yew Lee Pacific Group Bhd added 1.5 sen to 30.5 sen, EA Holdings Bhd and Green Packet Bhd eased half-a-sen each to one sen and seven sen respectively, LGMS Bhd declined 13 sen to 71.5 sen, while Dynaciate Bhd was flat at 14.5 sen.

On the index board, the FBM Emas Index was 91.31 points lower at 10,841.68, the FBM Emas Shariah Index dropped 124.63 points to 11,108.75, the FBM 70 declined 65.92 points to 13,226.19, the FBM ACE decreased 64.16 points to 5,169.94, and the FBMT 100 Index slipped 87.81 points at 10,534.5.

Sector-wise, the Financial Services Index trimmed 57.4 points to 16,521.71, the Plantation Index tumbled 146.41 points to 7,665.37 and the Industrial Products and Services Index was 2.22 points easier at 194.04.

Main Market volume decreased to 1.66 billion shares worth RM1.7 billion against 1.71 billion shares worth RM1.55 billion on Wednesday.

Warrants turnover slipped to 300.45 million units valued at RM55.52 million versus 539.76 million units valued at RM94.67 million on Wednesday.

ACE Market volume reduced to 923.57 million shares worth RM302.22 million from 1.01 billion shares worth RM317.92 million previously.

Consumer products and services counters accounted for 195.19 million shares traded on the Main Market, industrial products and services (618.82 million), construction (56.93 million), technology (86.06 million), SPAC (nil), financial services (63.98 million), property (128.63 million), plantation (33.28 million), REITs (9.75 million), closed/fund (4,000), energy (220.71 million), healthcare (96.87 million), telecommunications and media (88.48 million), transportation and logistics (31.69 million), and utilities (24.78 million).

 

Source: The Edge

Market Daily Report: Bursa erases earlier gains to end at intraday low on late selling

 

 

KUALA LUMPUR (June 8): Bursa Malaysia erased earlier gains to end at the day’s low on Wednesday (June 8), extending its losses for the fifth consecutive day, on last-minute selling in selected heavyweights as investors remained cautious ahead of the release of a series of global economic data, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed 2.07 points weaker at 1,523.86, from Tuesday’s close of 1,525.93.

The index, which opened 0.03 points easier at 1,525.90, hit a high of 1,532.72 in the morning session.

On the broader market, losers thumped gainers 524 to 388, while 398 counters were unchanged, 964 untraded, and nine others suspended.

Total turnover increased to 3.26 billion units worth RM1.96 billion compared with 2.62 billion units worth RM1.78 billion on Tuesday.

A dealer said the local bourse opened easier on Tuesday morning but rebounded thereafter to remain in positive territory for most of the day before succumbing to last-minute selling in selected heavyweights stocks.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng told Bernama that sentiment remained fragile as investors were cautious on uncertainties such as global recession, inflation and rising interest rates.

Meanwhile, key regional markets ended mostly positive following the upbeat performance on Wall Street overnight, he said.

However, he noted that Chinese equities were marginally higher Wednesday as investors were awaiting the release of China’s Consumer Price Index (CPI) which is due on Friday, while strong buying in Chinese technology shares pushed Hong Kong sharply higher.

"On the domestic front, despite the cautious market undertone, we expect bargain hunting will prevail given the cheap valuations of local stocks, continuous inflow of foreign investors and improving macroeconomic situation in the country.

"As such, we expect the FBM KLCI to trend slightly higher within the 1,520-1,540 region for the remainder of the week, with immediate resistance at 1,575 and support at 1,520," he added.

Regionally, Singapore’s Straits Times Index shed 0.2% to 3,225.23, Japan’s Nikkei 225 gained 1.04% to 28,234.29, Hong Kong’s Hang Seng rose 2.24% to 22,014.59, South Korea’s KOSPI eased 0.01% to 2,626.15, and China's SSE Composite Index added 0.68% to 3,263.79.

Among the heavyweights, Public Bank Bhd added five sen to RM4.57, IHH Healthcare Bhd gained three sen to RM6.53, CIMB Group Holdings Bhd climbed one sen to RM5.07, Petronas Chemicals Group Bhd shed one sen at RM9.85, while Malayan Banking Bhd was flat at RM8.84.

Of the actives, Dynaciate Bhd slid 2.5 sen to 14.5 sen, Dynaciate-warrant eased four sen to 4.5 sen, ACE Market debutant LGMS Bhd soared 34.5 sen to 84.5 sen, MNC Wireless Bhd edged up half-a-sen to two sen, while BCM Alliance Bhd was flat at 2.5 sen.

On the index board, the FBM Emas Index was 8.59 points lower at 10,932.99, the FBMT 100 Index shed 7.25 points to 10,622.31, the FBM Emas Shariah Index slipped 43.41 points to 11,233.38, the FBM ACE was down 15.78 points to 5,234.1, but the FBM 70 increased 19.83 points to 13,292.11.

Sector-wise, the Financial Services Index rose 32.33 points to 16,579.11, the Plantation Index increased 24.86 points to 7,811.78, while the Industrial Products and Services Index was 0.87 of-a point easier at 196.26.

Main Market volume was unchanged at 1.71 billion shares worth RM1.55 billion against 1.71 billion shares worth RM1.56 billion on Tuesday.

Warrants turnover jumped to 539.76 million units valued at RM94.67 million versus 412.99 million units valued at RM75.26 million on Tuesday.

ACE Market volume surged to 1.01 billion shares worth RM317.92 million from 494.63 million shares worth RM138.17 million previously.

Consumer products and services counters accounted for 265.79 million shares traded on the Main Market, industrial products and services (690 million), construction (52.65 million), technology (110.75 million), SPAC (nil), financial services (44.56 million), property (135.22 million), plantation (34.41 million), REITs (9.52 million), closed/fund (4,000), energy (198.8 million), healthcare (76.97 million), telecommunications and media (22.02 million), transportation and logistics (48.59 million), and utilities (17.5 million).

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends at intraday low amid selling pressure

 

KUALA LUMPUR (June 7): Bursa Malaysia ended at the day’s low on Tuesday (June 7), extending its losses for the fourth consecutive day amid persistent selling pressure in selected heavyweights as weak sentiment prevailed in the region, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed 11.9 points lower, erasing 0.77% at last Friday’s close of 1,537.83.

The index, which opened 0.91 points better at 1,538.74, moved between 1,525.93 and 1,541.43 throughout the trading session.

On the broader market, losers thumped gainers 592 to 365, while 395 counters were unchanged, 903 untraded and nine others suspended.

Total turnover was higher at 2.62 billion units worth RM1.78 billion from 2.23 billion units worth RM1.67 billion last Friday.

A dealer said Bursa Malaysia opened higher on Tuesday morning, taking the cue from overnight positive performance on Wall Street, but turned into negative territory at mid-morning to end lower, succumbing to selling pressure on selected heavyweight stocks while tracking the mixed performance of regional peers. 

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said Wall Street ended broadly higher last Friday but well off earlier highs as investors continued to fret about inflation and rising interest rates, while also speculating about whether this year's selloff may have touched bottom.

Meanwhile, key regional indices ended mixed with markets swinging between gains and losses as investors remained concerned whether the Federal Reserve’s rate hikes could cool inflation that was running at a four-decade high without tipping the US economy into recession, he said.

"As for the local bourse, investors seemed reluctant to make more significant moves due to the absence of buying catalysts.

"We expect the FBM KLCI to consolidate further, hence anticipating it to trend sideways within the range of 1,520 to 1,540 for the week with immediate support at 1,520 followed by 1,500 while resistance is at 1,570," he told Bernama.

Regionally, Singapore’s Straits Times Index eased 0.06% to 3,224.78, Japan’s Nikkei 225 gained 0.1% to 27,943.95, Hong Kong’s Hang Seng slipped 0.56% to 21,531.67, South Korea’s KOSPI decreased 1.66% to 2,626.3, and China's SSE Composite Index rose 0.17% to 3,241.76.

Among the heavyweights, Malayan Banking Bhd and CIMB Group Holdings Bhd lost four sen each to RM8.84 and RM5.06, respectively, Public Bank Bhd declined six sen to RM4.52, Petronas Chemicals Group Bhd fell 13 sen to RM9.86, and IHH Healthcare Bhd was flat at RM6.50.

Of the actives, ACE Market debutant Yew Lee Pacific Group Bhd added one sen to 29 sen, Green Packet Bhd and G3 Global Bhd edged up half-a-sen each to 7.5 sen and five sen, respectively, Kumpulan Jetson Bhd rose 6.5 sen to 31.5 sen, and Sapura Energy Bhd eased half-a-sen to five sen.

On the index board, the FBM 70 shed 51.91 points to 13,272.28, the FBM ACE slipped 22.07 points to 5,249.88, the FBMT 100 Index lost 73.17 points to 10,629.56, the FBM Emas Index dropped 71.36 points to 10,941.58, and the FBM Emas Shariah Index tumbled 87.7 points to 11,276.79.

Sector-wise, the Industrial Products and Services Index trimmed 2.64 points to 197.13, the Financial Services Index declined 72.01 points to 16,546.78, and the Plantation Index dipped 124.71 points to 7,786.92.

Main Market volume rose to 1.71 billion shares worth RM1.56 billion from 1.57 billion shares worth RM1.51 billion last Friday.

Warrants turnover jumped to 412.99 million units valued at RM75.26 million versus 157.99 million units valued at RM20.56 million.

ACE Market volume slipped to 494.63 million shares worth RM138.17 million from 499.67 million shares worth RM140.63 million previously.

Consumer products and services counters accounted for 324.66 million shares traded on the Main Market, industrial products and services (334.17 million), construction (60.69 million), technology (109.30 million), SPAC (nil), financial services (51.59 million), property (154.89 million), plantation (42.16 million), REITs (5.86 million), closed/fund (6,000), energy (369.1 million), healthcare (69 million), telecommunications and media (134.76 million), transportation and logistics (25.71 million), and utilities (27.85 million).

 

 

Source: The Edge

Market Daily Report: Bursa Malaysia ends lower on profit taking

 

 

KUALA LUMPUR (June 1): Bursa Malaysia reversed Tuesday's (May 31) gains to end lower on Wednesday on profit taking, amid mixed performance on regional peers as investors remained cautious on uncertainties such as global recession, inflation and rising interest rates, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 16.69 points or 1.06% to 1,553.41 from 1,570.1 at Tuesday’s close.

The index, which opened 6.7 points weaker at 1,563.4, moved between 1,552.22 and 1,563.89 throughout the session.

Market breadth skewed towards positive with gainers leading losers 508 to 450, while 405 counters were unchanged, 880 untraded, and 16 others suspended.

Total turnover decreased to 2.57 billion units worth RM2.49 billion from 3.8 billion units worth RM6.11 billion on Tuesday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said on the local bourse, investors took profit as a result of a sudden surge in the FBM KLCI during the last minute of trading on Tuesday.

Key regional markets were broadly lower on Wednesday as investors were wary of prevailing uncertainties including global recession, inflation and rising interest rates.

He said US equities slumped overnight on fears of inflation and slower economic growth as the world is now facing a food crisis. The Dow Jones Industrial Average lost 222.84 points or 0.67% while the Nasdaq Composite declined by 49.74 points or 0.41%.

“We reckon that the short-term market sentiment will remain jittery amid the uncertain regional and global performance although bargain hunting may prevail.

“Hence, we anticipate the benchmark index to trend sideways, within the range of 1,550-1,565 for the remainder of the week,” Thong told Bernama, adding the immediate support for the key index was at 1,530 and resistance at 1,575.

Among heavyweights, Malayan Banking Bhd fell 21 sen to RM8.89, Public Bank Bhd slipped 10 sen to RM4.63, both Petronas Chemicals Group Bhd and IHH Healthcare Bhd lost 20 sen each to RM10.06 and RM6.50, respectively, while CIMB Group Holdings Bhd rose five sen to RM5.20.

Of the actives, Sapura Energy Bhd slid 1.5 sen to seven sen, Yong Tai Bhd was down half-a-sen to 10 sen, G3 Global Bhd eased one sen to 4.5 sen, while Genting Bhd added 49 sen to RM5.24 and Serba Dinamik Holdings Bhd gained one sen to 11 sen.

On the index board, the FBM 70 dipped 4.49 points to 13,234.63, FBMT 100 Index shank 89.72 points to 10,768.78, FBM Emas Index weakened 81.01 points to 11,070.89, FBM Emas Shariah Index retreated 96.13 points to 11,413.5, while the FBM ACE declined 1.99 points to 5,183.65.

Sector-wise, the Industrial Products and Services Index shed 2.55 points to 200.66, the Plantation Index dipped 27.43 points to 7,936.55, and the Financial Services Index declined 164.11 points to 16,746.58.

Main Market volume decreased to 1.92 billion shares worth RM2.35 billion from 3.01 billion shares worth RM5.92 billion on Tuesday.

Warrants turnover trimmed to 362.54 million units valued at RM58.65 million versus 384.26 million units valued at RM80.84 million on Tuesday.

ACE Market volume dwindled to 282.48 million shares worth RM81.58 million from 399.22 million shares worth RM103.63 million previously.

Consumer products and services counters accounted for 376.98 million shares traded on the Main Market, industrial products and services (376.21 million), construction (41.97 million), technology (169.8 million), SPAC (nil), financial services (79.36 million), property (185.22 million), plantation (54.5 million), REITs (5.06 million), closed/fund (nil), energy (496.72 million), healthcare (38.02 million), telecommunications and media (27.53 million), transportation and logistics (52.93 million), and utilities (21.33 million).

 

Source: The Edge