Market Daily Report: Bursa ends at an intraday high, KLCI up 1.39%

KUALA LUMPUR (July 28): Bursa Malaysia ended at an intraday high on Thursday (July 28), thanks to the positive local market sentiment and foreign support, in tandem with the uptrend in the regional markets, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 20.49 points, or 1.39%, to 1,491.2 from Wednesday’s close of 1,470.71.

The index opened 1.68 points better at 1,472.39 and gained momentum towards the end of the trading day.

On the broader market, gainers trounced losers 653 to 264, while 393 counters were unchanged, 988 untraded and 66 others suspended.

Total turnover increased to 2.83 billion units worth RM1.81 billion from 2.19 billion units worth RM1.36 billion on Wednesday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the key regional indices trended broadly higher following upbeat cues on Wall Street overnight.

"Investors reacted positively to the US Federal Reserve's (Fed) anticipated interest rate hike. Fed Chair Jerome Powell commented that he does not think the [United States] is currently in a recession, adding that the central bank will likely slow rate increases at some point," he told Bernama.

Regionwise, the Singapore's Straits Times Index rose 0.48% to 3,220.65, South Korea's KOSPI added 0.82% to 2,435.27, Japan's Nikkei 225 edged up 0.36% to 27,815.48, and China’s SSE Composite Index put on 0.21% to 3,282.58, but Hong Kong's Hang Seng Index was 0.23% lower at 20,622.68.

Back home, Thong nevertheless said investors should stay alert on the increasing market volatility and external uncertainties.

Hence, he anticipates the benchmark index to trend sideways with a slight bias towards positive, within the range of 1,485 to 1,500 towards the weekend, with immediate support at 1,460 and resistance at 1,500.

Among the heavyweights, Malayan Banking Bhd bagged five sen to RM8.85, Public Bank Bhd gained four sen to RM4.64, Petronas Chemicals Group Bhd added 27 sen to RM8.91, IHH Healthcare Bhd perked up two sen to RM6.39, and CIMB Group Holdings Bhd advanced six sen to RM5.28.

Of the actives, Zen Tech International Bhd eased half-a-sen to four sen, MY EG Services Bhd earned two sen to 76.5 sen, Metronic Global Bhd rose 1.5 sen to 14.5 sen, while Bintai Kinden Corp Bhd and Serba Dinamik Holdings Bhd were flat at 12 sen and 11 sen, respectively.

On the index board, the FBM Emas Index added 148.67 points to 10,578.65, the FBM Emas Shariah Index improved 186.12 points to 10,681.03, the FBMT 100 Index climbed 148.07 points to 10,333.4, the FBM ACE put on 53.29 points to 4,832.49, and the FBM 70 surged 206.22 points to 12,684.69.

Sector-wise, the Plantation Index strengthened 93.96 points to 6,940.26, the Financial Services Index rose 107.38 points to 16,663.4, the Industrial Products and Services Index was 5.12 points higher at 183.66, and the Energy Index edged up 21.41 points to 666.61.

Main Market volume expanded to 2.06 billion shares worth RM1.59 billion against 1.56 billion shares worth RM1.19 billion on Wednesday.

Warrants turnover advanced to 282.68 million units valued at RM49.9 million versus 233.12 million units valued at RM49.73 million on Wednesday.

ACE Market volume swelled to 489.09 million shares worth RM169.77 million from 390.66 million shares worth RM125.68 million previously.

Consumer products and services counters accounted for 177.37 million shares traded on the Main Market, industrial products and services (965.19 million), construction (55.99 million), technology (263.8 million), SPAC (nil), financial services (51.75 million), property (119.17 million), plantation (30.12 million), REITs (7.87 million), closed/fund (13,000), energy (218.34 million), healthcare (88.47 million), telecommunications and media (35.05 million), transportation and logistics (25.02 million), and utilities (17.35 million).

Source: The Edge

Market Daily Report: Bursa ends higher amid cautious regional sentiment

KUALA LUMPUR (July 27): The FTSE Bursa Malaysia KLCI (FBM KLCI) rebounded from Tuesday's (July 26) loss to end higher on Wednesday, with the key index advancing by 0.48%, thanks to continuous support from foreign investors amid the cautious sentiment across the region, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.02 points to 1,470.71 from Tuesday’s close of 1,463.69.

The index, which opened 0.44 points better at 1,464.13, moved between 1,460.97 and 1,470.96 throughout the day.  

On the broader market, gainers outpaced losers 477 to 351, while 391 counters were unchanged, 1,071 untraded, and 20 others suspended.

However, total turnover declined to 2.19 billion units worth RM1.36 billion from 2.41 billion units worth RM1.22 billion on Tuesday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said Malaysian equities closed broadly higher with buying interests mainly in technology, utilities and telecommunication stocks.

"We reckon the uptrend will continue. Hence, we see the benchmark index hovering within the 1,465 to 1,485 range for the remainder of the week.

"On a technical point of view, we see immediate resistance at 1,500 and support at 1,460," he told Bernama.

Meanwhile, the key regional indices closed mixed as investors remained divided over the US Federal Reserve's (Fed) next move amid recession fears. The Fed will announce its decision on the interest rate later on Wednesday night (Malaysian time).

Malacca Securities Sdn Bhd senior analyst Kenneth Leong told Bernama that the interest rate hike news has been priced into the market, “however, if the quantum of the rate hike is not within market expectations, we may expect the market to turn volatile”.  

Singapore's Straits Times Index rose 0.41% to 3,205.14, South Korea's KOSPI added 0.11% to 2,415.53, and Japan's Nikkei edged up 0.22% to 27,715.75, while Hong Kong's Hang Seng Index was 1.13% lower at 20,670.04, and China’s SSE Composite Index slid 0.05% to 3,275.76.

Earlier on Wednesday, Tenaga Nasional Bhd’s (TNB) shares eased due to pockets of power outrage but the company managed to fully restore electricity supply to all areas experiencing power outages at 3.02pm.

Meanwhile, among the Bursa heavyweights, Malayan Banking Bhd added one sen to RM8.80, Petronas Chemicals Group Bhd and CIMB Group Holdings Bhd gained two sen each to RM8.64 and RM5.22, respectively, while Public Bank Bhd and TNB were flat at RM4.60 and RM8.03, respectively.

Of the actives, Metronic Global Bhd perked up three sen to 13 sen, UMediC Group Bhd advanced five sen to 49 sen, MY EG Services Bhd slipped one sen to 74.5 sen, while Sapura Energy Bhd and Serba Dinamik Holdings Bhd were both flat at 4.5 sen and 11 sen, respectively.

On the index board, the FBM Emas Index put on 54.23 points to 10,429.98, the FBM Emas Shariah Index gained 72.92 points to 10,494.91, the FBMT 100 Index rose 51.48 points to 10,185.33, the FBM 70 was 74.79 points higher at 12,478.47, and the FBM ACE climbed 49.5 points to 4,779.2.

Sector-wise, the Industrial Products and Services Index was 1.14 points firmer at 178.54, the Financial Services Index improved 70 points to 16,556.02, the Energy Index increased by 4.12 points to 645.2, but the Plantation Index declined 3.46 points to 6,846.3.

Main Market volume fell to 1.56 billion shares worth RM1.19 billion against 1.63 billion shares worth RM1.02 billion on Tuesday.

Warrants turnover shrank to 233.12 million units valued at RM49.73 million versus 369.48 million units valued at RM66.36 million on Tuesday.

ACE Market volume decreased to 390.66 million shares worth RM125.68 million from 409.45 million shares worth RM135.7 million previously.

Consumer products and services counters accounted for 135.03 million shares traded on the Main Market, industrial products and services (666.09 million), construction (77.49 million), technology (202.72 million), SPAC (nil), financial services (36.67 million), property (75.04 million), plantation (22.39 million), REITs (3.84 million), closed/fund (10,000), energy (231.03 million), healthcare (60 million), telecommunications and media (15.88 million), transportation and logistics (19.9 million), and utilities (17.16 million).

Source: The Edge

Market Daily Report: Bursa ends lower on profit-taking

KUALA LUMPUR (July 26): Bursa Malaysia ended lower on Tuesday (July 26) on persistent profit-taking and lack of market catalysts, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.53 points or 0.38% to 1,463.69 from Monday’s close of 1,469.22.

The index, which opened 2.73 points easier at 1,466.49, moved within a narrow range of between 1,459.12 and 1,466.49 throughout the day.  

On the broader market, losers outpaced gainers 409 to 390, while 410 counters were unchanged, 1,100 untraded, and 27 others suspended.

Total turnover widened to 2.41 billion units worth RM1.22 billion from 2.01 billion units worth RM1.12 billion on Monday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng, however, anticipates foreign funds to continue accumulating local stocks to take advantage of the local market's relatively cheap valuations against regional peers and the weaker ringgit.

"As such, we foresee the benchmark index to trend slightly higher at the 1,460 to 1,485 range for the remaining week, with immediate resistance at 1,500 and support at 1,460 followed by 1,410," he told Bernama.

Meanwhile, key regional indices closed mostly higher as news that the new Covid-19 cases in China dropped to the lowest level in more than a week aided market sentiment, he shared.

Singapore's Straits Times Index rose 0.37% to 3,192.12, Hong Kong's Hang Seng Index was 1.67% higher at 20,905.88, China’s SSE Composite Index improved 0.83% to 3,277.44, South Korea's KOSPI added 0.39% to 2,412.96, while Japan's Nikkei eased 0.16% to 27,655.21.  

Back home, among the heavyweights, Malayan Banking Bhd fell one sen to RM8.79, while Public Bank Bhd, Petronas Chemicals Group Bhd, IHH Healthcare Bhd, and CIMB Group Holdings Bhd gave up two sen each to RM4.60, RM8.62, RM6.43 and RM5.20, respectively.

Of the actives, ACE Market debutant UMediC Group Bhd earned 12 sen to 44 sen, Serba Dinamik Holdings Bhd gained 2.5 sen to 11 sen, MY EG Services Bhd ticked up 1.5 sen to 75.5 sen, Bintai Kinden Corporation Bhd increased one sen to 12 sen, while Zen Tech International Bhd shed half-a-sen to five sen.

On the index board, the FBM Emas Index shed 24.14 points to 10,375.75, the FBM Emas Shariah Index slipped 24.25 points to 10,421.99, the FBMT 100 Index slid 26.52 points to 10,133.85, and the FBM ACE dipped 20.41 points to 4,729.7, while the FBM 70 was 14.72 points higher at 12,403.68.

Sector-wise, the Plantation Index declined 24.61 points to 6,849.76, the Financial Services Index trimmed 23.6 points to 16,486.02, while the Energy Index expanded 8.35 points to 641.08, and the Industrial Products and Services Index put on 0.14 of-a-point to 177.4.

Main Market volume improved to 1.63 billion shares worth RM1.02 billion against 1.46 billion shares worth RM1.00 billion on Monday.

Warrants turnover expanded to 369.48 million units valued at RM66.36 million versus 274.01 million units valued at RM42.55 million on Monday.

ACE Market volume increased to 409.45 million shares worth RM135.7 million from 279.55 million shares worth RM75.54 million previously.

Consumer products and services counters accounted for 131.63 million shares traded on the Main Market, industrial products and services (683.87 million), construction (52.49 million), technology (146.09 million), SPAC (nil), financial services (33.53 million), property (186.64 million), plantation (18.18 million), REITs (6.51 million), closed/fund (19,000), energy (259.7 million), healthcare (70 million), telecommunications and media (12.56 million), transportation and logistics (19.72 million), and utilities (10.61 million).

Source: The Edge

Market Daily Report: Bursa ends mixed, late buying lifts KLCI to positive zone

KUALA LUMPUR (July 25): Last-minute buying interest in selected heavyweights led by financial services and utilities stocks helped to lift the FTSE Bursa Malaysia KLCI (FBM KLCI) marginally to end at its intraday high on Monday (July 25), a dealer said.

However, on the broader market, losers thumped gainers 531 to 300, while 397 counters were unchanged, 1,068 untraded, and 26 others suspended.

At 5pm, the FBM KLCI rose 3.42 points to its intraday high of 1,469.22, from last Friday’s close of 1,465.8.

The index, which opened 2.02 points easier at 1,463.78, hit a low of 1,461.28 during the mid-morning session before gaining momentum from the mid-afternoon session towards the end of trading.

Total turnover declined to 2.01 billion units worth RM1.12 billion from 2.05 billion units worth RM1.55 billion last Friday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI closed marginally higher due to late buying after a roller-coaster session amid mixed sentiment in regional markets.

"Regionally, key indices trended mostly lower following heavy selling on Wall Street last Friday.

"Investors are cautiously awaiting this week’s policy decision from the United State's Federal Reserve," he told Bernama.

As for the local bourse, Thong said sentiments are improving, thanks to the continuous buying support from foreign funds.

"We expect the buying to continue after the FBM KLCI has broken the 1,460 resistance level, while at present valuation, the benchmark index remains attractive as compared to its regional peers.

"As such, we anticipate the index to move within the 1,460 to 1,485 range for the week with immediate resistance at 1,500 and support at 1,430," he said.

Among the heavyweights, Public Bank Bhd added five sen to RM4.62, Hong Leong Bank Bhd gained 18 sen to RM20.58, Petronas Chemicals Group Bhd edged up four sen to RM8.64, while Malayan Banking Bhd fell one sen to RM8.80, and IHH Healthcare Bhd shed three sen to RM6.45.

Of the actives, Dolphin International Bhd slid 1.5 sen to three sen, MY EG Services Bhd went down three sen to 74 sen, Metronic Global Bhd added half-a-sen to nine sen, while both Top Glove Corp Bhd and Borneo Oil Bhd were flat at 99.5 sen and 2.5 sen, respectively.

On the index board, the FBM Emas Index was 3.81 points firmer at 10,399.89, the FBMT 100 Index climbed 6.53 points to 10,160.37, the FBM Emas Shariah Index trimmed 15.5 points to 10,446.24, while the FBM 70 was 61.07 points lower at 12,388.96, and the FBM ACE slipped 39.06 points to 4,750.11.

Sector-wise, the Industrial Products and Services Index edged up 0.22 of-a-point to 177.26, the Financial Services Index improved 59.93 points to 16,509.62 the Plantation Index gained 8.12 points to 6,874.37, while the Energy Index slid 10.11 points to 632.73.

Main Market volume widened to 1.46 billion shares worth RM1.00 billion against 1.42 billion shares worth RM1.39 billion last Friday.

Warrants turnover expanded to 274.01 million units valued at RM42.55 million versus 233.95 million units valued at RM43.16 million previously.

Meanwhile, ACE Market volume dwindled to 279.55 million shares worth RM75.54 million from 397.87 million shares worth RM111.15 million last Friday.

Consumer products and services counters accounted for 158.86 million shares traded on the Main Market, industrial products and services (655.48 million), construction (108.92 million), technology (140.24 million), SPAC (nil), financial services (41.96 million), property (83.01 million), plantation (25.89 million), REITs (5.74 million), closed/fund (nil), energy (66.47 million), healthcare (118.65 million), telecommunications and media (21.2 million), transportation and logistics (16.96 million), and utilities (17.02 million).

Source: The Edge

Market Daily Report: Bursa ends week on firmer note, KLCI up 1.07%

KUALA LUMPUR (July 22): Bursa Malaysia ended the week on a firmer note, with the FBM KLCI breaking its resistance in the process on Friday (July 22), thanks to continuous buying support from local institutions and foreign funds, dealers said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 15.48 points, or 1.07%, to 1,465.8 from Thursday’s close of 1,450.32.

The market bellwether, which opened 0.77 of-a-point higher at 1,451.09, moved between 1,450.73 and 1,468.48 throughout the day.

On the broader market, gainers outpaced losers 580 to 278, while 414 counters were unchanged, 1,024 untraded, and eight others suspended.

However, total turnover declined to 2.05 billion units worth RM1.55 billion from 2.13 billion units valued at RM1.38 billion on Thursday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said investor sentiment improved with the return of foreign funds amid positive factors across the region.

He noted that key regional indices mostly trended higher following in sync with the upbeat Wall Street performance overnight.

"We expect the FBM KLCI to continue its uptrend in the near term.

"As such, we anticipate the benchmark index to move within the 1,460 to 1,480 range next week, with immediate resistance at 1,500 and support at 1,430," he told Bernama.

Among heavyweights, Malayan Banking Bhd gained 11 sen to RM8.81, Public Bank Bhd rose 13 sen to RM4.57, IHH Healthcare Bhd improved one sen to RM6.48, CIMB Group Holdings Bhd added nine sen to RM5.25, while Petronas Chemicals Group Bhd slipped 12 sen to RM8.60.

Of the actives, Bintai Kinden Corporation Bhd added half-a-sen to 11 sen, Cypark Resources Bhd gained one sen to 36.5 sen, TWL Holdings Bhd was 1.5 sen firmer at seven sen, while MY EG Services Bhd and Top Glove Corp Bhd eased half-a-sen each to 77 sen and 99.5 sen, respectively.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said investor sentiment improved with the return of foreign funds amid positive factors across the region.

He noted that key regional indices mostly trended higher following in sync with the upbeat Wall Street performance overnight.

"We expect the FBM KLCI to continue its uptrend in the near term.

"As such, we anticipate the benchmark index to move within the 1,460 to 1,480 range next week, with immediate resistance at 1,500 and support at 1,430," he told Bernama.

Among heavyweights, Malayan Banking Bhd gained 11 sen to RM8.81, Public Bank Bhd rose 13 sen to RM4.57, IHH Healthcare Bhd improved one sen to RM6.48, CIMB Group Holdings Bhd added nine sen to RM5.25, while Petronas Chemicals Group Bhd slipped 12 sen to RM8.60.

Of the actives, Bintai Kinden Corporation Bhd added half-a-sen to 11 sen, Cypark Resources Bhd gained one sen to 36.5 sen, TWL Holdings Bhd was 1.5 sen firmer at seven sen, while MY EG Services Bhd and Top Glove Corp Bhd eased half-a-sen each to 77 sen and 99.5 sen, respectively.

Source: The Edge

Market Daily Report: Bursa ends higher amid mixed sentiments in regional markets

KUALA LUMPUR (July 21): Bursa Malaysia closed higher on Thursday (July 21), driven by buying mainly in industrial products and services, as well as technology and plantations counters, amid mixed sentiments in the regional markets, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.34 points, or 0.93%, to 1,450.32 from Wednesday’s close of 1,436.98.

The barometer index, which opened 4.18 points higher at 1,441.16, moved between 1,440.05 and 1,451.33 throughout the day.

Petronas Chemicals Group Bhd, Press Metal Aluminium Holdings Bhd and Sime Darby Plantation Bhd lifted the composite index by 4.39 points after the counters rose by 17 sen to RM8.72, nine sen to RM4.39 and seven sen to RM4.26, respectively.  

On the broader market, gainers outpaced losers 589 to 301, while 396 counters were unchanged, 1,002 untraded, and eight others suspended.

However, total turnover shrank to 2.13 billion units worth RM1.38 billion from 2.47 billion units valued at RM1.41 billion on Wednesday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regionally, key indices trended mixed as investors were anxious ahead of the key European Central Bank (ECB) monetary policy meeting.

"Meanwhile, the Asian Development Bank downgraded its growth forecasts for developing Asia for this year and next, reflecting the economic fallout from Russia's war in Ukraine and aggressive tightening by global central banks to tame inflation escalated recession fears.

"As for the local bourse, we are cautious over the heightened regional volatility. We expect some profit-taking to emerge," he told Bernama.

Hence, Thong anticipates the FBM KLCI to trend sideways within the 1,440 to 1,455 range towards the weekend with immediate support at 1,410 and resistance at 1,460.

Among other heavyweights, Malayan Banking Bhd gained 10 sen to RM8.70, Public Bank Bhd rose one sen to RM4.44, IHH Healthcare Bhd improved four sen to RM6.47, CIMB Group Holdings Bhd added seven sen to RM5.16, and Tenaga Nasional Bhd improved six sen to RM7.98.  

Of the actives, Focus Dynamics Group Bhd added half-a-sen to 2.5 sen, Top Glove Group Bhd perked up one sen to RM1, Dagang NeXchange Bhd climbed 1.5 sen to 76.5 sen, while MMAG Holdings Bhd was half-a-sen lower at 4.5 sen, and Bintai Kinden Corporation Bhd slid 1.5 sen to 10.5 sen.

On the index board, the FBM Emas Index rose 101.94 points to 10,301.91, the FBM Emas Shariah Index increased 110.34 points to 10,409.75, the FBM 70 was 153.06 points higher at 12,384.09, the FBMT 100 Index climbed 99.96 points to 10,059.1, and the FBM ACE improved 54.67 points to 4,743.09.

Sector-wise, the Plantation Index added 109.27 points to 6,898.53, the Financial Services Index gained 149.56 points to 16,216.42, the Energy Index was 5.05 points higher at 636.84, and the Industrial Products and Services Index rose 3.11 points to 176.98.

Main Market volume declined to 1.22 billion shares worth RM1.2 billion against 1.65 billion shares worth RM1.2 billion on Wednesday.

Warrants turnover declined to 300.45 million units valued at RM61.07 million versus 328.62 million units valued at RM76.62 million on Wednesday.

ACE Market volume swelled to 607.1 million shares worth RM118.95 million from 483.39 million shares worth RM131.05 million previously.

Consumer products and services counters accounted for 198.01 million shares traded on the Main Market, industrial products and services (449.99 million), construction (29.65 million), technology (173.33 million), SPAC (nil), financial services (43.06 million), property (94.84 million), plantation (22.78 million), REITs (4.75 million), closed/fund (2,000), energy (79.01 million), healthcare (73.09 million), telecommunications and media (26.37 million), transportation and logistics (15.11 million), and utilities (10.66 million).

Source: The Edge

Market Daily Report: Bursa higher across the board on bargain hunting

KUALA LUMPUR (July 20): Bursa Malaysia closed higher across the board on Wednesday (July 20) as bargain hunting emerges amid the improving investor sentiment across the region, said an analyst.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.22 points, or 0.58%, to 1,436.98 from Tuesday’s close of 1,428.76.

The barometer index, which opened 1.26 points higher at 1,430.02, moved in an uptrend momentum throughout the day with intraday high recorded at 1,438.37.

On the broader market, gainers outpaced losers 602 to 271, while 385 counters were unchanged, 1,030 untraded and seven others suspended.

Total turnover widened to 2.47 billion units worth RM1.41 billion from 1.73 billion units valued at RM1.32 billion on Tuesday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional indices closed mostly higher after a sharp rebound in US stocks overnight while some investors speculated that the worst of 2022’s equity rout is over.

“Back home, although we reckon the local bourse to remain in cautious mode, we believe bargain-hunting activities will continue given the reasonable valuations of the FBM KLCI at the moment.

“Additionally, the FBM KLCI remained in oversold position at the present level,” he said.

In view of the greater volatility, Thong anticipates the FBM KLCI to trend within a wider range of 1,420 to 1,450 for the remainder of the week with immediate support at 1,410 and resistance at 1,460.

Among the heavyweights, Malayan Banking Bhd rose four sen to RM8.60, Public Bank Bhd gained three sen to RM4.43, Petronas Chemicals Group Bhd soared 25 sen to RM8.55, IHH Healthcare Bhd increased one sen to RM6.43, while CIMB Group Holdings Bhd was down one sen to RM5.09.

Of the actives, Bintai Kinden Corporation Bhd increased 3.5 sen to 12 sen, Top Glove Corporation Bhd fell three sen to 99 sen, while MMAG Holdings Bhd, Metronic Global Bhd and G3 Global Bhd were flat at five sen, 8.5 sen and four sen respectively.

On the index board, the FBM Emas Index rose 67.94 points to 10,199.97, the FBM Emas Shariah Index increased 82.97 points to 10,299.41, the FBM 70 was 102.6 points higher at 12,231.03, the FBMT 100 Index climbed 63.23 points to 9,959.14 and the FBM ACE improved 95.7 points to 4,688.42.

Sector-wise, the Plantation Index added 28.13 points to 6,789.26, the Financial Services Index gained 61.45 points to 16,066.86, the Energy Index was 6.28 points higher at 631.79, and the Industrial Products and Services Index edged up 2.95 points to 173.87.

Main Market volume advanced to 1.65 billion shares worth RM1.20 billion against 1.17 billion shares worth RM1.17 billion on Tuesday.

Warrants turnover improved to 328.62 million units valued at RM76.62 million versus 285.73 million units valued at RM66.18 million previously.

ACE Market volume strengthened to 483.39 million shares worth RM131.05 million from 275.74 million shares worth RM80.31 million previously.

Consumer products and services counters accounted for 349.64 million shares traded on the Main Market, industrial products and services (680.33 million), construction (34.98 million), technology (144.93 million), SPAC (nil), financial services (43.44 million), property (90.11 million), plantation (21.37 million), REITs (4.24 million), closed/fund (3,000), energy (162.62 million), healthcare (75.83 million), telecommunications and media (20.48 million), transportation and logistics (18.86 million), and utilities (6.93 million).

Source: The Edge

Market Daily Report: Bursa ends slightly down due to lack of buying catalysts

KUALA LUMPUR (July 19): Bursa Malaysia reversed Monday's (July 18) gains to end marginally lower on Tuesday after a lacklustre trading session, as investors seemed reluctant to make more significant moves due to the absence of buying catalysts, an analyst said.

At 5pm, the barometer index slipped 0.78 point, or 0.05%, to 1,428.76 from Monday’s close of 1,429.54.

The index, which opened 0.85 point weaker at 1,428.69, moved between 1,417.16 and 1,430.86 throughout the day.

On the broader market, losers outpaced gainers 431 to 330, while 399 counters were unchanged, 1,129 untraded, and eight others suspended.

Total turnover fell to 1.73 billion units worth RM1.32 billion from 2.4 billion units valued at RM1.28 billion on Monday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regionally, key indices trended mixed due to different reactions to Wall Street’s negative performance, as investors continued to worry about the economic outlook ahead of next week's US Federal Reserve monetary policy meeting.

Meanwhile, the new wave of Covid-19 infections in China also continued to hurt market sentiment amid supply and demand concerns, he added.

"On the domestic front, we prefer to stay [cautious] as the near-term direction of the local market is still very much dependent on the regional volatility. Nonetheless, we expect accumulation of stocks to persist on dips," he told Bernama.

Thong forecast the FBM KLCI would hover between 1,420 and 1,450 for the week with immediate support at 1,410 and resistance at 1,460.

Among the heavyweights, Malayan Banking Bhd shed two sen to RM8.56, Public Bank Bhd and CIMB Group Holdings Bhd added one sen each to RM4.40 and RM5.10, respectively, Petronas Chemicals Group Bhd gained eight sen to RM8.30, and IHH Healthcare Bhd was flat at RM6.42.

Of the actives, Hibiscus Petroleum Bhd lost five sen to 84 sen, MY EG Services Bhd slid 3.5 sen each to 77 sen, Dagang NeXchange Bhd was 2.5 sen lower at 73 sen, MMAG Holdings Bhd eased half-a-sen to five sen, and Metronic Global Bhd was unchanged at 8.5 sen.

On the index board, the FBM Emas Index trimmed 5.08 points to 10,132.03, the FBM Emas Shariah Index decreased 8.1 points to 10,216.44, the FBM 70 was 11.25 points lower at 12,128.43, the FBMT 100 Index narrowed 6.29 points to 9,895.91, and the FBM ACE weakened 41.3 points to 4,592.72.

Sector-wise, the Plantation Index reduced 14.8 points to 6,761.13, the Financial Services Index fell 8.21 points to 16,005.41 and the Energy Index eased 3.35 points to 625.51, while the Industrial Products and Services Index was 1.21 points higher at 170.92.

Main Market volume shrank to 1.17 billion shares worth RM1.17 billion against 1.34 billion shares worth RM1.06 billion on Monday.

Warrants turnover decreased to 285.73 million units valued at RM66.18 million versus 383.78 million units valued at RM79.97 million previously.

ACE Market volume dipped to 275.74 million shares worth RM80.31 million from 678.1 million shares worth RM130.84 million previously.

Consumer products and services counters accounted for 181.87 million shares traded on the Main Market, industrial products and services (402.55 million), construction (50.83 million), technology (140.38 million), SPAC (nil), financial services (40.43 million), property (86.71 million), plantation (24.54 million), REITs (5.6 million), closed/fund (nil), energy (139.13 million), healthcare (53.01 million), telecommunications and media (16.91 million), transportation and logistics (16.24 million), and utilities (10.1 million).

Source: The Edge

Market Daily Report: Bursa ends at intraday high on bargain hunting

KUALA LUMPUR (July 18): Bursa Malaysia ended at an intraday high on Monday (July 18), thanks to bargain hunting and in line with improving sentiment across the region, spurred by an upbeat performance on Wall Street last Friday, analysts said.

At 5pm, the barometer index rose 11.1 points or 0.78% to 1,429.54 from last Friday’s close of 1,418.44.

The index, which opened 2.45 points higher at 1,420.89, hit a low of 1,416.71 during the mid-morning session before gaining momentum from the start of the afternoon session towards the end of trading.

On the broader market, gainers outpaced losers 517 to 334, while 382 counters were unchanged, 1,054 untraded, and 20 others suspended.

Total turnover was higher at 2.4 billion units worth RM1.28 billion against 2.05 billion units valued at RM1.06 billion last Friday.

The local market succumbed to selling pressure last week due to lack of buying catalyst amid lacklustre trading, which prompted bargain hunters to emerge on Monday as the market remained in an oversold position.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices closed broadly higher, tracking Wall Street's rebound on Friday as fairly encouraging economic data from the United States and upbeat earnings updates from some top companies helped to lift sentiment.

"As for the local bourse, we are cautiously optimistic given the improvement in regional market sentiment.

"Nonetheless, investors should stay alert due to the increasing market volatility," he told Bernama.

Thong also expects some bargain-hunting activities to continue considering the cheap valuations of the local market as compared to regional peers.

He foresees the benchmark index to trade within the 1,420 to 1,450 range for the week with immediate support at 1,400 and resistance at 1,460.

Among the heavyweights, Malayan Banking Bhd was one sen lower at RM8.58, CIMB Group Holdings Bhd added four sen to RM5.09, Press Metal Aluminium Holdings Bhd and Petronas Gas Bhd gained 18 sen each to RM4.15 and RM16.60 respectively, while Tenaga Nasional Bhd decreased four sen to RM7.95, and Hong Leong Bank Bhd fell by 10 sen to RM20.20.

Of the actives, MMAG Holdings Bhd and Sapura Energy Bhd added half-a-sen each to 5.5 sen and 4.5 sen respectively, Top Glove Corporation Bhd climbed 4.5 sen to RM1.04, while newly-listed Ecoscience International Bhd slid four sen to 26 sen, and Borneo Oil Bhd was flat at 2.5 sen.

On the index board, the FBM Emas Index rose 89.22 points to 10,137.11, the FBM Emas Shariah Index increased 142.19 points to 10,224.54, the FBM 70 was 144.67 points higher at 12,139.68, the FBMT 100 Index improved 86.45 points to 9,902.2, and the FBM ACE Index climbed 74.19 points to 4,634.02.  

Sector-wise, the Industrial Products and Services Index put on 2.98 points to 169.71, the Energy Index soared 24.22 points to 628.86, the Plantation Index added 120.2 points to 6,775.93, and the Financial Services Index was 5.93 points higher at 16,013.62.

Main Market volume advanced to 1.34 billion shares worth RM1.06 billion against 1.29 billion shares worth RM916.47 million last Friday.

Warrants turnover decreased to 383.78 million units valued at RM79.97 million versus 398.9 million units valued at RM75.88 million previously.

ACE Market volume swelled to 678.12 million shares worth RM130.84 million from 351.41 million shares worth RM66.41 million previously.

Consumer products and services counters accounted for 175.53 million shares traded on the Main Market, industrial products and services (409.72 million), construction (32.71 million), technology (130.32 million), SPAC (nil), financial services (32.13 million), property (60.89 million), plantation (29.54 million), REITs (3.54 million), closed/fund (nil), energy (267.24 million), healthcare (107.88 million), telecommunications and media (52.86 million), transportation and logistics (24.75 million), and utilities (10.24 million).

Source: The Edge

Market Daily Report: Bursa Malaysia ends week on negative note on July 15

KUALA LUMPUR (July 15): Bursa Malaysia ended the week marginally lower on Friday (July 15), with the index declining 0.11% due to lack of buying catalyst amid a lacklustre trading day, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 1.62 points to 1,418.44 from Thursday's close of 1,420.06.

The benchmark index opened unchanged at 1,420.06 — also its intraday high — and slid to a low of 1,415.46 during the morning session, and continued to trade within that range in the afternoon session.

On the broader market, losers surpassed gainers 425 to 388, while 419 counters were unchanged, 1,044 untraded, and 20 others suspended.

Total turnover improved to 2.05 billion units valued at RM1.06 billion, against 2.01 billion units valued at RM1.20 billion on Thursday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices closed mixed on Friday on renewed recession fears due to aggressive monetary tightening by global central banks.

On the home front, he said the local bourse is expected to see muted reaction as investor sentiment remained soft for the time being.

"Hence, we anticipate the index to trend sideways for next week with immediate support at 1,400 and resistance at 1,460," he told Bernama.

Among the heavyweights, Maybank eased three sen to RM8.59, Public Bank was flat at RM4.40, Petronas Chemicals gained eight sen to RM8.11, IHH Healthcare lost one sen to RM6.43, and CIMB fell five sen to RM5.05.

Of the actives, Sapura Energy was flat at four sen, Top Glove dipped 2.5 sen to 99.5 sen, while MYEG and Metronic lost half-a-sen each to 80 sen and 8.5 sen, respectively.

On the index board, the FBM Emas Index went down 14.01 points to 10,047.89, the FBM Emas Shariah Index lost 9.91 points to 10,082.35, the FBM 70 was 27.02 points lower at 11,995.01, the FBMT 100 Index trimmed 13.72 points to 9,815.75, while the FBM ACE edged up 7.01 points to 4,559.83.  

Sector-wise, the Financial Services Index declined 52.51 points to 16,007.69, the Industrial Products and Services Index was 1.30 points lower at 166.73, and the Plantation Index shed 13.48 points to 6,655.73.

The Main Market volume narrowed to 1.29 billion shares worth RM916.47 million, against 1.45 billion shares worth RM1.07 billion on Thursday.

Warrants turnover widened to 398.90 million units valued at RM75.88 million, versus 275.17 million units valued at RM49.74 million yesterday.

The ACE Market volume improved to 351.41 million shares worth RM66.41 million, from 273.22 million shares worth RM80.63 million previously.

Consumer products and services counters accounted for 227.92 million shares traded on the Main Market, industrial products and services (441.84 million), construction (52.11 million), technology (113.80 million), SPAC (nil), financial services (31.38 million), property (68.45 million), plantation (30.04 million), REITs (2.45 million), closed/fund (18,300), energy (195.68 million), healthcare (58.08 million), telecommunications and media (16.40 million), transportation and logistics (50.50 million), and utilities (8.71 million).

Source: The Edge

Market Daily Report: Bursa Malaysia ends mixed on July 14, FBM KLCI rebounds to end on intraday high

KUALA LUMPUR (July 14): The FTSE Bursa Malaysia KLCI (FBM KLCI) rebounded from Wednesday's loss to end higher on Thursday (July 14), with the key index advancing by 0.62% driven by bargain hunting activities, a dealer said.

However, on the broader market, losers surpassed gainers 454 to 332, while 421 counters were unchanged, 1,069 untraded and eight others suspended.

At 5pm, the FBM KLCI rose 8.74 points to its intraday high of 1,420.06, versus Wednesday's close of 1,411.32.

The benchmark index, which opened 2.49 points lower at its intraday low of 1,408.83, gained momentum in the mid-morning session and continued to rise until the final hour of trading day.

Total turnover advanced to 2.01 billion units valued at RM1.20 billion, against 1.76 billion units valued at RM1.28 billion on Wednesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng noted that the FBM KLCI remained in an oversold position after heavy sell-downs over the past seven weeks.

Despite the positive close on Thursday, he said investor sentiment remained jittery due to external factors such as increasing market risks and volatility on global markets.

“As such, we anticipate the benchmark index to trend sideways, slightly positive biased within the range of 1,415-1,430 towards the weekend,” he said.

Among the heavyweights, Maybank and CIMB rose one sen to RM8.62 and RM5.10 respectively, Public Bank gained three sen to RM4.40, Petronas Chemicals added 15 sen to RM8.03 and IHH Healthcare gained two sen to RM6.44.

Of the actives, Metronic increased two sen to nine sen, TWL eased half-a-sen to six sen, Top Glove added one sen to RM1.02 and BSL Corporation ticked up 2.5 sen to 9.5 sen.

On the index board, the FBM Emas Index went up 38.30 points to 10,061.90, the FBM Emas Shariah Index ticked up 52.33 points to 10,092.26, the FBM 70 slipped 15.37 points to 12,022.03, the FBMT 100 Index improved 43.50 points to 9,829.47, and the FBM ACE rose 13.84 points to 4,552.82.  

Sector-wise, the Financial Services Index advanced 40 points to 16,060.20, the Industrial Products and Services Index was 1.32 points higher at 168.03, and the Plantation Index weakened 17.49 points to 6,669.21.

The Main Market volume widened to 1.45 billion shares worth RM1.07 billion, against 1.09 billion shares worth RM1.12 billion on Wednesday.

Warrants turnover improved to 275.17 million units valued at RM49.74 million, versus 263.33 million units valued at RM45.05 million on Wednesday.

The ACE Market volume narrowed to 273.22 million shares worth RM80.63 million, from 396.49 million shares worth RM112.67 million previously.

Consumer products and services counters accounted for 169.75 million shares traded on the Main Market, industrial products and services (692.70 million), construction (25.74 million), technology (99.56 million), SPAC (nil), financial services (35.71 million), property (134.23 million), plantation (36.49 million), REITs (3.03 million), closed/fund (30,600), energy (107.60 million), healthcare (83.94 million), telecommunications and media (28.29 million), transportation and logistics (18.25 million), and utilities (19.05 million).

Source: The Edge

Market Daily Report: FBM KLCI dips 1.04% to close at over 2-year low on July 13

KUALA LUMPUR (July 13): Bursa Malaysia ended in the red on Wednesday (July 13), with the key index declining by 1.04% amid heavy profit-taking in plantation and energy stocks, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) erased 14.76 points to 1,411.32 from Tuesday's close of 1,426.08, marking its lowest level since May 18, 2020 which closed at 1,410.16.

The benchmark index, which opened 4.65 points lower at 1,421.43 — its intraday high, dropped to a low of 1,410.33 in the morning session before gaining momentum but subsequently slipped during the afternoon trading.

On the broader market, losers thumped gainers 578 to 249, while 420 counters were unchanged, 1,003 untraded, and eight others suspended.

Total turnover fell to 1.76 billion units valued at RM1.28 billion, from 2.36 billion units valued at RM1.27 billion on Tuesday. 

Malacca Securities Sdn Bhd senior analyst Kenneth Leong said investors are now keeping a close watch on the United States (US) inflation numbers, which is expected to be released later Wednesday. 

"With expectation that the US inflation would increase, the US Federal Reserve would remain aggressive towards interest rate hikes that may not bode well for the equities market. 

"Locally, further weakness may see the FBM KLCI retreating towards 1,400, while 1,430 serves as the immediate resistance," he told Bernama. 

Among the heavyweights, Maybank and Public Bank fell three sen each to RM8.61 and RM4.37 respectively, Petronas Chemicals dipped 40 sen to RM7.88, and IHH Healthcare rose three sen to RM6.42.

As for the actives, Infoline Tec and MYEG went down 1.5 sen to 30.5 sen and 80 sen respectively, Metronic slid one sen to seven sen, and MQ Technology lost half-a-sen to 3.5 sen.

On the index board, the FBM Emas Index dropped 92.48 points to 10,023.60, the FBM Emas Shariah Index shrank 116.98 points to 10,039.93, the FBM 70 lost 67.24 points to 12,037.40, the FBMT 100 Index was 91.19 points lower at 9,785.97, and the FBM ACE fell 39.53 points to 4,538.98. 

Sector-wise, the Financial Services Index gave up 68.02 points to 16,020.20, the Industrial Products and Services Index shed 3.50 points to 166.71, and the Plantation Index trimmed 33.23 points to 6,686.70. 

The Main Market volume narrowed to 1.09 billion shares worth RM1.12 billion, against 1.64 billion shares worth RM1.10 billion on Tuesday.

Warrants turnover decreased to 263.33 million units valued at RM45.05 million, versus 452.94 million units valued at RM86.22 million on Tuesday.

The ACE Market volume expanded to 396.49 million shares worth RM112.67 million, from 267.91 million shares worth RM86.74 million previously.

Consumer products and services counters accounted for 137.69 million shares traded on the Main Market, industrial products and services (398.49 million), construction (28.99 million), technology (125.66 million), SPAC (nil), financial services (43.43 million), property (55.72 million), plantation (26.61 million), REITs (3.45 million), closed/fund (2,000), energy (160.03 million), healthcare (73.18 million), telecommunications and media (19.25 million), transportation and logistics (15.51 million), and utilities (9.04 million).

Source: The Edge

Market Daily Report: Bursa ends mixed, late buying lifts KLCI to positive zone

KUALA LUMPUR (July 12): Last-minute buying interest in selected heavyweights led by utilities as well as consumer products and services stocks helped to lift the FTSE Bursa Malaysia KLCI (FBM KLCI) to end Tuesday's (July 12) session on a positive note, a dealer said.

However, on the broader market, losers thumped gainers 569 to 292, while 357 counters were unchanged, 1,022 untraded, and eight others suspended.

At 5pm, the FBM KLCI rose marginally by 0.29 of-a-point to 1,426.08 from Friday's close of 1,425.79.

The benchmark index, which opened 0.4 of-a-point higher at its intraday high of 1,426.19, slipped to its low of 1,418.5 in late afternoon before clawing back into the positive territory.

Total turnover advanced to 2.36 billion units valued at RM1.27 billion from Friday's close of 1.62 billion units valued at RM1.12 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said most key regional indices trended lower following the negative cues from Wall Street overnight.

"Investors are cautious as they await the upcoming United States' inflation report and China's economic data later this week,” he told Bernama.

On the domestic front, he said sentiment remained jittery given the heightened market volatility although bargain hunting may prevail.

"We believe the FBM KLCI remains oversold at the present level. We expect the index to trend within a wider range of 1,410 to 1,440 for the remainder of the week," he said.

Among the heavyweights, Malayan Banking Bhd rose two sen to RM8.64, Public Bank Bhd was flat at RM4.40, Petronas Chemicals Group Bhd trimmed 19 sen to RM8.28, IHH Healthcare Bhd gained three sen to RM6.39, Tenaga Nasional Bhd advanced 11 sen to RM8.03, and PPB Group Bhd improved 40 sen to RM16.

Of the actives, TWL Holdings Bhd gained half-a-sen to seven sen, Yong Tai Bhd dropped two sen to six sen, Metronic Global Bhd fell 1.5 sen to eight sen, Top Glove Corp Bhd increased two sen to RM1.01, and Widad Group Bhd gave up half-a-sen to 36.5 sen.

On the index board, the FBM Emas Index fell 20.45 points to 10,116.08, the FBM Emas Shariah Index slid 37.01 points to 10,156.91, the FBM 70 lost 91.67 points to 12,104.64, the FBMT 100 Index was 15.92 points lower at 9,877.16, and the FBM ACE dropped 89.3 points to 4,578.51.   

Sector-wise, the Financial Services Index perked up 11.1 points to 16,088.22, the Industrial Products and Services Index shed 2.62 points to 170.21, and the Plantation Index climbed 85.07 points to 6,719.93.

Main Market volume expanded to 1.64 billion shares worth RM1.10 billion against 1.04 billion shares worth RM907.02 million last Friday.

Warrants turnover swelled to 452.94 million units valued at RM86.22 million from 371.77 million units valued at RM72.25 million previously.

ACE Market volume declined to 267.91 million shares worth RM86.74 million versus 329.36 million shares worth RM100.21 million.

Consumer products and services counters accounted for 165.92 million shares traded on the Main Market, industrial products and services (368.51 million), construction (33.07 million), technology (128.2 million), SPAC (nil), financial services (38.24 million), property (561.63 million), plantation (29.25 million), REITs (4.03 million), closed/fund (19,500), energy (116.78 million), healthcare (154.64 million), telecommunications and media (19.21 million), transportation and logistics (15.39 million), and utilities (8.19 million).

Source: The Edge

Market Daily Report: Strong buying interest lifts Bursa at close

KUALA LUMPUR (July 8): Bursa Malaysia ended higher on the week’s last day of trading amid strong buying interests across the regional markets.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 7.1 points, or 0.5%, to finish the day at 1,425.79 from Thursday's close of 1,418.69.  

The benchmark index opened 2.57 points firmer at 1,421.26 and moved between 1,420.63 and 1,427.2 throughout the day.

The overall market breadth was positive as gainers outnumbered losers 445 to 343, while 425 counters were unchanged, 1,027 untraded, and eight others suspended.

Total turnover decreased to 1.62 billion units valued at RM1.12 billion from Thursday's closing of 1.94 billion units valued at RM1.45 billion.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional indices trended broadly higher following a rally in the US markets, sparked by hopes that policymakers can tackle inflation without causing a recession.

Japan’s Nikkei 225 added 0.1% to 26,517.19, Hong Kong’s Hang Seng Index advanced 0.3% to 21,725.78 and Singapore’s Straits Times Index eased 0.1% to 3,126.35.

The market was also bolstered by the possibility of a major stimulus in China as well as hopes that policymakers can get inflation under control without causing a global economic downturn, he added.

“Back home, we reckon that the FBM KLCI remained in an oversold position despite the rebound, hence we expect the uptrend to continue next week.

"As such we expect the FBM KLCI to trade within the 1420-1,450 range, with immediate resistance at 1,400 and support at 1,450,” he told Bernama.

Among the heavyweights, Malayan Banking Bhd and Public Bank Bhd increased four sen each to RM8.62 and RM4.40, respectively, Petronas Chemicals Group Bhd jumped 13 sen to RM8.47, IHH Healthcare Bhd gained three sen to RM6.36, CIMB Group Holdings Bhd rose five sen to RM5.14 and Tenaga Nasional Bhd shed four sen to RM7.92.

Of the actives, both Metronic Global Bhd and Widad Group Bhd edged up half-a-sen each to 9.5 sen and 37 sen, respectively, while Yong Tai Bhd was flat at eight sen and Top Glove Corp Bhd fell two sen to 99 sen.

On the index board, FBM Emas Index bagged 44.4 points to 10,132.53, FBM Emas Shariah Index improved 41.35 points to 10,193.92, FBM 70 went up 34.28 points to 12,196.31, FBM ACE increased 63.81 points to 4,667.81 and the FBMT 100 Index put on 44.25 points to 9,893.08.     

Sector-wise, the Financial Services Index was 79.87 points higher at 16,077.12, the Industrial Products and Services Index rose 1.03 points to 172.83, and the Plantation Index jumped 46.39 points to 6,634.86.

Main Market volume fell to 975.89 million shares worth RM936 million from Thursday’s 1.24 billion shares worth RM1.31 billion.

Warrants turnover went down to 387.31 million units worth RM91.2 million against 468.15 million units worth RM77.6 million on Thursday.  

ACE Market volume increased to 252.58 million shares worth RM90.26 million from 240.47 million shares worth RM61.11 million previously.    

Consumer products and services counters accounted for 128.71 million shares traded on the Main Market, industrial products and services (275.25 million), construction (34.57 million), technology (99.21 million), SPAC (nil), financial services (31.8 million), property (121.9 million), plantation (38.47 million), REITs (1.99 million), closed/fund (1,300), energy (136.07 million), healthcare (67.3 million), telecommunications and media (21.15 million), transportation and logistics (13.61 million), and utilities (5.84 million).

Source: The Edge

Market Daily Report: Cautious sentiment weighs on Bursa

 

KUALA LUMPUR (July 7): Bursa Malaysia ended lower on Thursday (July 7) amidst the prevailing cautious sentiment in the market, said an analyst.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.16 points or 0.15% to end the day at 1,418.69 from Wednesday’s close of 1,420.85.

The benchmark index opened 0.19 of-a-point higher at 1,421.04 and moved between 1,418.69 and 1,425.85 throughout the day.

The overall market breadth was negative as losers outnumbered gainers 430 to 364, while 423 counters were unchanged, 1,007 untraded, and seven others suspended.

Total turnover decreased to 1.94 billion units valued at RM1.45 billion from Wednesday’s 2.16 billion units valued at RM1.63 billion.    

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said Malaysian equities closed lower with selling mainly seen in the energy and industrial products stocks, while buying activities were mainly in the healthcare and plantation counters.

He said the market sentiment would remain cautious over the short term due to the heightened regional market volatility.

“As such, we expect the FBM KLCI to trade within the 1,415-1,435 range towards the weekend, with immediate resistance at 1,600 and support at 1,460,” he told Bernama.

Among the heavyweights, Tenaga Nasional Bhd gained two sen to RM7.96, Petronas Gas Bhd was flat at RM16.40, Malayan Banking Bhd fell four sen to RM8.58, Public Bank Bhd eased three sen to RM4.36, Petronas Chemicals Group Bhd trimmed 31 sen to RM8.34, IHH Healthcare Bhd slid five sen to RM6.33 and CIMB Group Holdings Bhd eased one sen to RM5.09.

Of the actives, Top Glove Corp Bhd advanced seven sen to RM1.01, TA Win Holdings Bhd edged up half-a-sen 8.5 sen, Widad Group Bhd was flat at 36.5 sen, Seng Fong Holdings Bhd gave up seven sen to 67.5 sen, Reach Energy Bhd edged down half-a-sen to four sen and Hibiscus Petroleum Bhd decreased five sen to 87.5 sen.

On the index board, the FBM Emas Index fell 12.42 points to 10,092.13, FBM Emas Shariah Index gained 3.86 points to 10,152.57, FBM 70 shaved off 11.24 points to 12,162.03, FBM ACE decreased 22.72 points to 4,604, and the FBMT 100 Index gave up 13.61 points to 9,848.83.

Sector-wise, the Financial Services Index went down 68.51 points to 15,997.25, the Industrial Products and Services Index was 3.68 points easier at 171.8, and the Plantation Index surged 116.68 points to 6,588.47.

Main Market volume fell to 1.24 billion shares worth RM1.31 billion from Wednesday’s 1.42 billion shares worth RM1.47 billion.

Warrants turnover rose to 468.15 million units worth RM77.60 million from 431.29 million units worth RM77.84 million on Wednesday.  

ACE Market volume dwindled to 240.47 million shares worth RM61.11 million from 304.42 million shares worth RM82.19 million previously.    

Consumer products and services counters accounted for 129.06 million shares traded on the Main Market, industrial products and services (415.0 million), construction (25.40 million), technology (123.02 million), SPAC (nil), financial services (53.46 million), property (67.87 million), plantation (31.53 million), REITs (7.08 million), closed/fund (5,000), energy (209.62 million), healthcare (113.09 million), telecommunications and media (33.66 million), transportation and logistics (13.92 million), and utilities (12.38 million).

 

Source: The Edge

Market Daily Report: FBM KLCI falls to over two-year low

 

KUALA LUMPUR (July 6): Bursa Malaysia ended Wednesday’s trading in the red amid heavy profit-taking in plantation and energy stocks.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 19.96 points or 1.39% to end the day at 1,420.85 from Tuesday’s close of 1,440.81, marking its lowest level since May 19, 2020.

The benchmark index opened 1.76 points higher at 1,442.57 and moved between 1,419.5 and 1,448.09 throughout the day.

The overall market breadth was negative amid broad selling as losers thumped gainers 717 to 208, while 388 counters were unchanged, 910 untraded, and seven others suspended.

Total turnover increased to 2.16 billion units valued at RM1.63 billion from Tuesday’s 1.99 billion units valued at RM1.21 billion.   

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng expected investors' sentiment to remain jittery given the heightened global volatility, although bargain hunting may set in.

“We foresee the FBM KLCI to stay in consolidation mode and hovering within the 1,420-1,440 range for the remainder of the week. Technically speaking, we spot the immediate support at 1,400 and resistance at 1,460,” he told Bernama.

The weakness in the local bourse was also in line with most regional markets, dragged by the slump in commodities prices which caused heavy selloffs in energy and material stocks.

“The surge in Covid-19 infections in China also hurt market sentiment as it reignited worries about potential lockdowns,” said Thong.

Regionally, Singapore’s Straits Times Index eased 0.07% to 3,102.04, Japan’s Nikkei 225 sank 1.20% to 26,107.65 and Hong Kong’s Hang Seng Index declined 1.22% to 21,586.66.

On the local bourse, heavyweights Malayan Banking Bhd added one sen to RM8.62, CIMB Group Holdings Bhd increased five sen to RM5.10, Petronas Gas Bhd advanced eight sen to RM16.40, Public Bank Bhd and IHH Healthcare Bhd fell two sen each to RM4.39 and RM6.38, respectively, while Petronas Chemicals Group Bhd trimmed 47 sen to RM8.65 and Tenaga Nasional Bhd shed eight sen to RM7.94.

Of the actives, Jade Marvel Group Bhd gained one sen to 91.5 sen, Sapura Energy Bhd and Yong Tai Bhd were flat at 4.5 sen and 8.5 sen, respectively, Velesto Energy Bhd eased one sen to nine sen, Hibiscus Petroleum Bhd slipped 7.5 sen to 92.5 sen, and Top Glove Corp Bhd shed half-a-sen to 94 sen.

On the index board, the FBM Emas Index fell 138.96 points to 10,104.55, FBM Emas Shariah Index slid 217.42 points to 10,148.71, FBM 70 shaved off 134.29 points to 12,173.27, FBM ACE decreased 20.25 points to 4,626.72, and the FBMT 100 Index gave up 131.56 points to 9,862.44.   

Sector-wise, the Financial Services Index went down 18.42 points to 16,065.76, the Industrial Products and Services Index was 5.47 points easier at 175.48, and the Plantation Index dipped 343.59 points to 6,471.79.

Main Market volume expanded to 1.42 billion shares worth RM1.47 billion against Tuesday’s 1.07 billion shares worth RM984.74 million.   

Warrants turnover eased to 431.29 million units worth RM77.84 million from 452.94 million units worth RM94.0 million on Tuesday.  

ACE Market volume dwindled to 304.42 million shares worth RM82.19 million from 466.66 million shares worth RM126.58 million previously.   

Consumer products and services counters accounted for 159.39 million shares traded on the Main Market, industrial products and services (335.02 million), construction (55.58 million), technology (134.94 million), SPAC (nil), financial services (57.1 million), property (140.08 million), plantation (69.81 million), REITs (3.27 million), closed/fund (nil), energy (343.86 million), healthcare (65.77 million), telecommunications and media (30.9 million), transportation and logistics (16.41 million), and utilities (8.52 million).

 

Source: The Edge

Market Daily Report: FBM KLCI ends slightly higher on bargain hunting

 

KUALA LUMPUR (July 5): The FTSE Bursa Malaysia KLCI (FBM KLCI) ended marginally higher on Tuesday (July 5), lifted by bargain-hunting activities among undervalued stocks, said an analyst.

At 5pm, the benchmark index rose 3.29 points to end the day at 1,440.81 from Monday’s close of 1,437.52.

The benchmark index opened 4.35 points higher at 1,441.87, and moved between 1,435.58 and 1,444.67 throughout the day.

The overall market breadth was negative with losers outnumbering gainers 423 to 373, while 438 counters were unchanged, 995 untraded and 14 others suspended.

Total turnover increased to 1.99 billion units valued at RM1.21 billion from Monday’s 1.74 billion units valued at RM1.08 billion.  

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said investors seemed to be reluctant to make more significant moves due to the absence of buying catalysts as the market undertone remains jittery amidst the heightened global market risks and volatility.

“Nevertheless, we believe the market remains oversold, hence providing opportunities for investors to accumulate stocks at attractive levels, given their cheaper valuations.

“As such, we anticipate the index to trend within the range of 1,430-1,460 for the rest of the week, with immediate support at 1,430 and resistance at 1,465,” he told Bernama.

Bursa heavyweights Malayan Banking Bhd rose by one sen to RM8.61, Public Bank Bhd and CIMB Group Holdings Bhd gained two sen each to RM4.41 and RM5.05, respectively, Petronas Chemicals Group Bhd was flat at RM9.12, IHH Healthcare Bhd fell three sen to RM6.40 and Petronas Gas Bhd eased eight sen to RM16.32.  

Of the actives, ACE market debutant Orgabio Holdings Bhd advanced three sen to 34 sen, Nexgram Holdings Bhd and Reach Energy Bhd were flat at one sen and five sen, respectively, Top Glove Corp Bhd shed three sen to 94.5 sen and NWP Holdings Bhd edged down half-a-sen to 27 sen.  

On the index board, FBM Emas Index widened 17.47 points to 10,243.51, FBM Emas Shariah Index improved 12.36 points to 10,366.13, FBM 70 expanded 13.53 points to 12,307.56, FBM ACE decreased 70.48 points to 4,646.97, and the FBMT 100 Index bagged 20.04 points to 9,994.  

Sector-wise, the Financial Services Index went up 44.37 points to 16,084.18, the Industrial Products and Services Index added 0.75 of-a-point to 180.95, and the Plantation Index slid 75.21 points to 6,815.38.

Main Market volume increased to 1.07 billion shares worth RM984.74 million against Monday’s 1.04 billion shares worth RM907.02 million.  

Warrants' turnover swelled to 452.94 million units worth RM94.0 million from 371.77 million units worth RM72.25 million on Monday.  

ACE Market volume increased to 466.66 million shares worth RM126.58 million from 329.36 million shares worth RM100.21 million previously.  

Consumer products and services counters accounted for 177.84 million shares traded on the Main Market, industrial products and services (280.55 million), construction (35 million), technology (80.43 million), SPAC (nil), financial services (47.21 million), property (141.1 million), plantation (37.28 million), REITs (2.93 million), closed/fund (nil), energy (133.77 million), healthcare (88.93 million), telecommunications and media (24.62 million), transportation and logistics (13.93 million), and utilities (6.55 million).

 

Source: The Edge

Market Daily Report: Bursa ends at day's low as investors stay on sidelines

 

KUALA LUMPUR (July 4): Bursa Malaysia ended the first trading day of the week broadly lower as investors stayed on the sidelines ahead of Bank Negara Malaysia's (BNM) decision on interest rates later this week.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 12.22 points or 0.84% to finish at its intraday low of 1,437.52 from Friday’s close of 1,449.74, after opening at an intraday high of 1,449.5.

The overall market breadth was negative with losers outnumbering gainers 468 to 297, while 388 counters were unchanged, 1,076 untraded, and nine others suspended.

Total turnover increased to 1.74 billion units valued at RM1.08 billion from Friday’s 1.49 billion units valued at RM1.15 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the local bourse ended broadly lower on Monday after a lacklustre trading session as investors seemed reluctant to make more significant moves due to the absence of buying catalysts.

“We remain cautious and believe the near-term direction of the local market is still very much dependent on the regional volatility. Nonetheless, we believe accumulation of stocks to persist on dips.

“As such, we anticipate the FBM KLCI to hover between a wider range of between 1,430 and 1,460 for the the week, with immediate support at 1,430 and resistance at 1,465,” he told Bernama.

Meanwhile, Maybank Investment Bank Bhd on Monday said it is estimating a 100 basis points (bps) increase in the overnight policy rate for the period between the second half of 2022 (2H2022) and 1H2023.

The bank expects BNM to announce a 25bps hike within this week's monetary policy meeting and another 25bps by the fourth quarter 2022, and a further 50bps in 1H2023.

On the local bourse, heavyweights Petronas Chemicals Group Bhd added four sen to RM9.12, CIMB Group Holdings Bhd was flat at RM5.03, Malayan Banking Bhd shed two sen to RM8.60, Public Bank Bhd eased three sen to RM4.39, and IHH Healthcare Bhd declined five sen to RM6.43.

Of the actives, Jade Marvel Group Bhd and Widad Group Bhd were flat at 91 sen and 36.5 sen, respectively, Reach Energy Bhd inched down half-a-sen to five sen, Top Glove Corp Bhd slid 3.5 sen to 97.5 sen, and Dagang NeXchange Bhd was one sen lower at 78 sen.

On the index board, the FBM Emas Index trimmed 89.84 points to 10,226.04, FBM Emas Shariah Index dipped 127.21 points to 10,353.77, FBM 70 lost 109.51 points to 12,294.03, FBM ACE decreased 67.07 points to 4,717.45, and the FBMT 100 Index shaved off 85.75 points to 9,973.96.

Sector-wise, the Financial Services Index went down 17 points to 16,039.81, the Industrial Products and Services Index was 1.49 points weaker at 180.2, and the Plantation Index slid 34.13 points to 6,890.59.

Main Market volume decreased slightly to 1.04 billion shares worth RM907.02 million against Friday’s 1.05 billion shares worth RM1.00 billion.

Warrants turnover swelled to 371.77 million units worth RM72.25 million from 172.71 million units valued at RM32.88 million previously.

ACE Market volume increased to 329.36 million shares worth RM100.21 million versus 303.48 million shares worth RM113.55 million.

Consumer products and services counters accounted for 144.87 million shares traded on the Main Market, industrial products and services (322.19 million), construction (40.54 million), technology (111.14 million), SPAC (nil), financial services (26.15 million), property (77.89 million), plantation (33.52 million), REITs (2.97 million), closed/fund (nil), energy (154.33 million), healthcare (78.18 million), telecommunications and media (19.43 million), transportation and logistics (17.76 million), and utilities (7.94 million).

 

Source: The Edge

Market Daily Report: Bursa ends week on mixed note, KLCI closes up 5.52 points

KUALA LUMPUR (July 1): Bursa Malaysia ended the week on a mixed note, supported by buying interest led by telecommunications stocks, while simultaneously tracking the heavy selloffs in regional peers, analysts said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.38% or 5.52 points higher to finish at 1,449.74 from Thursday's close of 1,444.22.

The benchmark index, which opened 2.6 points easier at 1,441.62 to record its intraday low, hit a high of 1,452.32 during the mid-morning session on Friday.

The overall market breadth was negative with losers outnumbering gainers 468 to 297, while 388 counters were unchanged, 1,076 untraded, and nine others suspended.

Total turnover declined to 1.49 billion units valued at RM1.15 billion versus 2.26 billion units worth RM1.97 billion on Thursday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said key regional indices closed lower following the broadly negative cues overnight from Wall Street.

Investors were worried about high inflation and a possible economic recession in the United States which may spill over to other regions.

“Back home, the FBM KLCI trended higher on thin volume, hence, we believe the rally is not sustainable.

“We reckon the local market will face some headwinds amid heightened regional market volatility and negative market sentiment globally.

“As such, we expect the FBM KLCI to trend sideways within the 1,440-1,460 region next week, with immediate support at 1,430 and resistance at 1,460,” Thong told Bernama.

Meanwhile, among the heavyweights, Digi.Com Bhd was 14 sen better at RM3.64, Public Bank Bhd rose five sen to RM4.42, CIMB Group Holdings Bhd gained seven to RM5.03, and Petronas Chemicals Group Bhd increased eight sen to RM9.08.

Malayan Banking Bhd and IHH Healthcare Bhd perked up three sen each to RM8.62 and RM6.48 respectively, while Tenaga Nasional Bhd was up two sen to RM8.

Of the actives, both Yong Tai Bhd and Jade Marvel Group Bhd were flat at nine sen and 91 sen respectively, Hibiscus Petroleum Bhd and Top Glove Corp Bhd shed three sen each to 97 sen and RM1.01 respectively, MY EG Services Bhd rose 1.5 sen to 89.5 sen, while Cypark Resources Bhd added half-a-sen to 35 sen.

On the index board, the FBM Emas Index climbed 8.62 points to 10,315.88, FBM Emas Shariah Index shed 22.98 points to 10,480.98, FBM 70 shrank 89.67 points to 12,403.54, FBM ACE increased 33.14 points to 4,784.52, and the FBMT 100 Index put on 12.2 points to 10,059.71.

Sector-wise, the Financial Services Index advanced 72.63 points to 16,056.81, the Industrial Products and Services Index was 0.01 of-a-point weaker at 181.69, and the Plantation Index gained 23.89 points to 6,924.72.

Main Market volume decreased to 1.05 billion shares worth RM1.00 billion from 1.41 billion shares valued at RM1.74 billion on Thursday.

Warrants turnover dwindled to 172.71 million units valued at RM32.88 million against 473.03 million units worth RM104.77 million on Thursday.

ACE Market volume fell to 303.48 million shares worth RM113.55 million versus 378.50 million shares valued at RM118.99 million previously.

Consumer products and services counters accounted for 120.91 million shares traded on the Main Market, industrial products and services (320.12 million), construction (28.65 million), technology (105.58 million), SPAC (nil), financial services (35.58 million), property (129.43 million), plantation (34.83 million), REITs (4.65 million), closed/fund (nil), energy (116.83 million), healthcare (66.86 million), telecommunications and media (25.02 million), transportation and logistics (19.65 million), and utilities (7.29 million).

 

Source: The Edge