Market Daily Report: Bursa finishes higher in line with regional peers

KUALA LUMPUR (Oct 31): Bursa Malaysia finished broadly higher after two consecutive days of losses, tracking regional market peers amid the improved performance of global equities, an analyst said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.07 points to 1,460.38 from Friday's close of 1,447.31.

The key index, which opened 3.63 points higher at 1,450.94, moved between 1,450.94 and 1,468.41 throughout the day.

The broader market was also positive with gainers trouncing losers 450 to 365, while 410 counters were unchanged, 1,137 untraded, and 66 others suspended.

Turnover increased to 2.89 billion units valued at RM1.94 billion versus 2.38 billion units valued at RM1.65 billion on Friday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI trended sharply higher with buying interest mainly in plantation, oil and gas, banking as well as telecommunications heavyweights.

He said that regionally, key indices closed mostly higher following a positive cue from Wall Street last Friday while investors hoped the US central bank would scale back plans for more rate increases.

As for the local bourse, Thong maintained his cautiously optimistic view as he expected investor sentiment to remain positive given the improving global equities and local economy.

“We anticipate the FBM KLCI to trend within the range of 1,450-1,470 for the week with immediate resistance at 1,470 and support at 1,430,” he told Bernama.

Of the heavyweights, Malayan Banking Bhd (Maybank) inched up one sen to RM8.59, Digi.Com Bhd rose four sen to RM3.79, and Axiata Group Bhd gained 13 sen to RM2.85. Sime Darby Plantation Bhd was five sen higher at RM4.40, while Maxis Bhd also increased five sen to RM3.85.

Among the actives, Top Glove Corp Bhd was up half-a-sen to 79.5 sen, Careplus Group Bhd advanced 4.5 sen to 51.5 sen, CSH Alliance Bhd fell half-a-sen to three sen, and DPS Resources Bhd lost 3.5 sen to seven sen. MMAG Holdings Bhd was flat at 2.5 sen while Serba Dinamik Holdings Bhd was unchanged at one sen.

On the index board, the FBM Emas Index gained 75.43 points to 10,350.84, the FBM 70 climbed 30.16 points to 12,266.73, and the FBMT 100 Index improved 75.08 points to 10,089.93.

The FBM Emas Shariah Index strengthened 88.6 points to 10,411.11, while the FBM ACE eased 22.37 points to 4,858.93.

Sector-wise, the Financial Services Index was 80.64 points higher at 16,466.68, the Industrial Products and Services Index ticked up 0.35 of a point to 175.8, the Plantation Index rose 36.87 points to 6,879.92, and the Energy Index added 0.93 of a point to 698.5.

The Main Market volume rose to 1.97 billion shares worth RM1.69 billion from 1.60 billion shares worth RM1.42 billion last Friday.    

Warrants turnover slipped to 299.7 million units valued at RM50.78 million from 320.41 million units worth RM58.28 million.  

The ACE Market volume grew to 619.85 million shares worth RM191.38 million from 458.25 million shares worth RM172.45 million previously.   

Consumer products and services counters accounted for 247.72 million shares traded on the Main Market, industrial products and services (603.63 million), construction (52.65 million), technology (118.68 million), SPAC (nil), financial services (82.13 million), property (258.35 million), plantation (30.6 million), REITs (4.15 million), closed/fund (nil), energy (178.65 million), healthcare (318.39 million), telecommunications and media (25.42 million), transportation and logistics (32.64 million), and utilities (13.08 million).

Source: The Edge

Market Daily Report: KLCI closes below 1,450 level on profit-taking

KUALA LUMPUR (Oct 28): Bursa Malaysia’s key index staged a pullback on Friday (Oct 28) for the second day running, after having breached the 1,450 level on Wednesday, as profit-taking set in across the broader market.

Lacklustre trading on the local bourse also mirrored the weak regional market performance, as investors digested interest rates announcements by the European Central Bank (ECB) and Bank of Japan (BOJ) for clues ahead of the US Federal Open Market Committee and Bank Negara Malaysia (BNM) meetings next week.

At 5pm, the FBM KLCI had slipped 6.78 points to 1,447.31, compared with Thursday's close at 1,454.09.

The key index opened 0.45 of a point higher at 1,454.54, and moved between 1,442.04 and 1,456.47 throughout the day.

The broader market was bearish, with losers outpacing gainers 450 to 393, while 409 counters were unchanged, 1,117 untraded, and 83 others suspended.

Turnover decreased to 2.38 billion units valued at RM1.65 billion, versus 2.53 billion units valued at RM1.87 billion on Thursday.

BOJ governor Haruhiko Kuroda on Friday kept the country’s policy rates unchanged, citing weaker growth prospects after the ECB raised its rates by 75 basis points (bps) on Thursday.

An analyst told Bernama that BNM, meanwhile, is widely expected to increase the cost of borrowing by another 25 bps.

"The market is closely tracking the US Federal Reserve’s next move, with a 75 bps [hike] likely,’’ he said, adding that the Bank of England is also set to announce its stance on interest rates next week.

Back home, heavyweights Malayan Banking Bhd (Maybank), Dialog Group Bhd and PPB Group Bhd dipped 10 sen each. Maybank closed at RM8.58, followed by Dialog at RM1.91 and PPB at RM16.56.

Kuala Lumpur Kepong Bhd (KLK) lost 38 sen to RM21.82, Public Bank Bhd fell five sen to RM4.38, and Sime Darby Plantation Bhd was nine sen lower at RM4.35.

Among the actives, Borneo Oil Bhd was unchanged at two sen and Bintai Kinden Corp Bhd was flat at 9.5 sen, Top Glove Corp Bhd added 1.5 sen to 79 sen, MyEG Services Bhd rose by two sen to 88.5 sen, and Tanco-WC was half a sen higher at 19 sen.

On the index board, the FBM Emas Index declined 38.17 points to 10,275.40, the FBM 70 decreased 14.59 points to 12,236.57, and the FBMT 100 Index dropped 38.74 points to 10,014.85.

The FBM Emas Shariah Index shed 24.22 points to 10,322.51, while the FBM ACE recovered 18.11 points to 4,881.30.    

Sector-wise, the Financial Services Index gave up 93.87 points to 16,386.04, the Energy Index was 4.10 points weaker at 697.57, and the Plantation Index lost 76 points to 6,843.05, while the Industrial Products and Services Index improved 0.08 of a point to 175.45.

The Main Market volume rose to 1.6 billion shares worth RM1.42 billion, from 1.57 billion shares worth RM1.51 billion on Thursday.    

Warrant turnover expanded to 320.41 million units worth RM58.28 million, from 252.22 million units worth RM47.07 million a day ago.

The ACE Market volume declined to 458.25 million shares worth RM172.45 million, from 722.08 million shares worth RM317.14 million previously.   

Consumer product and service counters accounted for 179.62 million shares traded on the Main Market, followed by industrial products and services (607.49 million), construction (51.57 million), technology (141.08 million), special purpose acquisition companies (nil), financial services (68.08 million), property (154.15 million), plantation (17.93 million), real estate investment trusts (6.9 million), closed/funds (5,100), energy (132.35 million), healthcare (175.54 million), telecommunications and media (21.40 million), transportation and logistics (34.1 million), and utilities (10.59 million).

Source: The Edge

Market Daily Report: Bursa gives up earlier gains to end marginally lower

KUALA LUMPUR (Oct 27): Bursa Malaysia gave up earlier gains to slip marginally lower on Thursday (Oct 27), as the key index struggled to stay in the green for most of the trading session, amid a mixed performance in regional markets.

At 5pm, the FBM KLCI had trimmed 0.89 of a point to 1,454.09, due to mild selling of heavyweights, particularly financial services and plantation counters, compared with Wednesday's close at 1,454.98.

The key index opened 2.98 points higher at 1,457.96, and fluctuated between 1,452.28 and 1,459.86 throughout the day.

However, the broader market remained positive, with gainers surpassing losers 505 to 325, while 395 counters were unchanged, 1,136 untraded, and 24 others suspended.

Turnover decreased to 2.53 billion units valued at RM1.87 billion, versus 2.61 billion units valued at RM1.80 billion on Wednesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the mixed regional and overnight Wall Street performance as well as caution over the European Central Bank's (ECB) interest rate path had put investors in cautious mode.

The markets expect the ECB to raise its interest rate to a 13-year high, he said.

"Amid this stance, local market investors seem to continue seeking refuge in the energy, property, and construction sectors," Thong said, adding there was also strong support from local institutions for selected stocks.

"We anticipate the KLCI to trend within a wider range of 1,440 to 1,470 points,’’ he told Bernama. 

Among the heavyweights, Tenaga Nasional Bhd (TNB) dipped eight sen to RM8.29, Axiata Group Bhd eased five sen to RM2.76, Sime Darby Plantation Bhd fell six sen to RM4.44, and Kuala Lumpur Kepong Bhd (KLK) was 22 sen weaker at RM22.20.

On the other hand, Maxis Bhd went up 11 sen to RM3.80, Dialog Group Bhd was 10 sen higher at RM2.01, CIMB Group Holdings Bhd rose five sen to RM5.60, and Top Glove Corp Bhd added two sen to 77.5 sen.

Newly-listed Betamek Bhd, which topped the most active list, declined 13 sen to 58 sen. Careplus Group Bhd was flat at 44.5 sen, Velesto Energy Bhd increased by one sen to 12.5 sen, and UEM Sunrise Bhd perked up 1.5 sen to 21 sen. 

On the index board, the FBM Emas Index rose 16.03 points to 10,313.57, the FBM 70 gained 74.86 points to 12,251.16, and the FBMT 100 Index increased 9.56 points to 10,053.59.    

The FBM Emas Shariah Index went up 20.62 points to 10,346.73, while the FBM ACE decreased 5.85 points to 4,863.19.    

Sector-wise, the Financial Services Index climbed 12.87 points to 16,479.91 and the Energy Index edged up 18.03 points to 701.67, while the Industrial Products and Services Index improved 0.41 of a point to 175.37, and the Plantation Index lost 22.44 points to 6,919.05.

The Main Market volume rose to 1.57 billion shares worth RM1.51 billion, from 1.50 billion shares worth RM1.35 billion on Wednesday.    

Warrant turnover dwindled to 252.22 million units worth RM47.07 million, from 351.83 million units worth RM54.23 million a day ago.

The ACE Market volume declined to 722.08 million shares worth RM317.14 million, from 796.21 million shares worth RM392.44 million previously.   

Consumer product and service counters accounted for 167.63 million shares traded on the Main Market, followed by industrial products and services (359.04 million), construction (63.17 million), technology (130.98 million), special purpose acquisition companies (nil), financial services (63.45 million), property (170.27 million), plantation (33.25 million), real estate investment trusts (8.74 million), closed/funds (nil), energy (240.14 million), healthcare (245.16 million), telecommunications and media (31.47 million), transportation and logistics (29.71 million), and utilities (13.40 million).

Source: The Edge

Market Daily Report: Bursa resumes uptrend, KLCI ends at intraday high

KUALA LUMPUR (Oct 26): Continuous buying spree in heavyweights mainly in the healthcare, plantation, and telecommunications sectors boosted Bursa Malaysia to end in the positive zone on Wednesday (Oct 26) after a marginal decline on Tuesday.

An analyst attributed the rise in trading to a pre-election rally.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 10.57 points to end at its intraday high of 1,454.98 compared with Tuesday's close of 1,444.41.

The barometer index opened 3.16 points higher at 1,447.57.

The broader market was also positive with gainers trouncing losers 519 to 354, while 376 counters were unchanged, 1,115 untraded, and 11 others suspended.

Turnover increased to 2.61 billion units valued at RM1.80 billion versus 2.26 billion units valued at RM1.76 billion on Tuesday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng told Bernama that Wednesday's interest was also inspired by the positive Wall Street performance overnight, as investors were upbeat over falling treasury yields.

US Treasury bond yields fell amid the ongoing narrative in the markets that the US Federal Reserve might slow the pace of its rate hikes.

Looking at the improved sentiment currently, he believed the FBM KLCI could trade as high as the 1,470 level for the remainder of the week.

Heavyweights Kuala Lumpur Kepong Bhd soared 94 sen to RM22.42, while Digi.Com Bhd jumped 13 sen to RM3.75, and IOI Corp Bhd rose 13 sen to RM4.04.

Maxis Bhd gained 12 sen to RM3.69, and Tenaga Nasional Bhd increased 12 sen to RM8.37, while Hartalega Holdings Bhd surged 22 sen to RM2.07, and Axiata Group Bhd added seven sen to RM2.81.

Newly listed Betamek Bhd topped the most active list, jumping 21 sen to close at 71 sen, followed by Serba Dinamik Holdings Bhd, which remained flat at two sen. Top Glove Corp Bhd was up four sen to 75.5 sen, Sapura Energy Bhd eased half-a-sen to four sen, and Careplus Group Bhd climbed five sen to 44.5 sen.

On the index board, the FBM Emas Index rose 69.15 points to 10,297.54, the FBM 70 climbed 68.91 points to 12,176.3, and the FBMT 100 Index increased 69.21 points to 10,044.03.    

The FBM Emas Shariah Index shot up 113.99 points to 10,326.11, while the FBM ACE expanded 38.44 points to 4,869.04.    

Sector-wise, the Financial Services Index slipped 12.39 points to 16,492.78, the Energy Index edged up 5.28 points to 683.64, the Industrial Products and Services Index lost 0.13 of-a-point to 174.96, and the Plantation Index surged 149.41 points to 6,941.49.

The Main Market volume rose 1.50 billion shares worth RM1.35 billion from 1.25 billion shares worth RM1.49 billion on Tuesday.    

Warrants turnover dwindled to 351.83 million units worth RM54.23 million from 431.82 million units worth RM71.87 million.  

The ACE Market volume swelled to 796.21 million shares worth RM392.44 million from 575.24 million shares worth RM200.29 million previously.   

Consumer products and services counters accounted for 197.28 million shares traded on the Main Market, industrial products and services (326.74 million), construction (36.35 million), technology (154.52 million), SPAC (nil), financial services (52.82 million), property (107.77 million), plantation (30.27 million), REITs (3.82 million), closed/fund (5,700), energy (211.85 million), healthcare (274.26 million), telecommunications and media (27.54 million), transportation and logistics (23.69 million), and utilities (12.76 million).

Source: The Edge

Market Daily Report: Bursa pauses for breather after six-day winning streak

KUALA LUMPUR (Oct 25): Bursa Malaysia ended in the red on Tuesday (Oct 25), taking a pause after a six-day winning streak due to profit-taking in heavyweights led by Petronas Chemicals Group Bhd and Public Bank Bhd.

Significant gains in Axiata Group Bhd and CIMB Group Holdings Bhd, however, helped to curb further downtrend in the FTSE Bursa Malaysia KLCI (FBM KLCI), which ended 2.01 points easier at 1,444.41 compared to last Friday's close of 1,446.42.

The barometer index opened 2.72 points higher at 1,449.14 and moved between 1,441.19 and 1,454.06 throughout the session.

The broader market was slightly negative with losers outpacing gainers 445 to 420, while 384 counters were unchanged, 1,103 untraded, and 12 others suspended.

Turnover increased to 2.26 billion units valued at RM1.76 billion versus 2.04 billion units worth RM1.51 billion on Friday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng told Bernama that the local market performance was also in sync with regional markets as investors remained cautious about the outlook for interest rates in the US ahead of next week's Federal Reserve (Fed) meeting.

The Fed will hold a meeting on Nov 1-2, with investors hoping the central bank would soon slow rate hikes as early as December.

Earlier, global equities were temporarily spooked by losses in China's stocks and currency market as investors sell off Chinese assets amid worries over China President Xi Jinping’s new leadership team's economic direction.

"At home, we maintain our cautiously optimistic view as we expect investors' sentiments to remain positive given the improving local economy.

"We anticipate the FBM KLCI to trend higher within the 1,440 to 1,460 range for the week," he noted.

Heavyweights Petronas Chemicals dipped 16 sen to RM8.84, while Public Bank lost five sen to RM4.45, Petronas Gas Bhd was 24 sen weaker at RM16.96, Tenaga Nasional Bhd erased eight sen to RM8.25, and Petronas Dagangan Bhd slid 42 sen to RM20.88.

Axiata, CIMB and Malayan Banking Bhd (Maybank) remained higher, with Axiata gaining 14 sen to RM2.74, CIMB rising six sen to RM5.59, and Maybank climbing two sen to RM8.68.  

Of the actives, Eduspec Holdings Bhd eased half-a-sen to 1.5 sen while Vinvest Capital Holdings Bhd slipped half-a-sen to 21.5 sen, and Widad Group Bhd shed one sen to 47 sen.

MyEG Services Bhd was flat at 83 sen, and Advance Synergy Bhd gained half-a-sen to seven sen.

On the index board, the FBM Emas Index rose 7.49 points to 10,228.39, the FBM 70 climbed 78.76 points to 12,107.39, and the FBMT 100 Index increased 4.36 points to 9,974.82.    

The FBM Emas Shariah Index bagged 14.72 points to 10,212.12, and the FBM ACE perked up 29.33 points to 4,830.6.    

Sector-wise, the Financial Services Index trimmed 5.91 points to 16,505.17, and the Energy Index edged down 1.19 points to 678.36.

The Industrial Products and Services Index shed 0.67 of-a-point to 175.09, and the Plantation Index dropped 15.19 points to 6,792.08.

The Main Market volume narrowed to 1.25 billion shares worth RM1.49 billion from 1.26 billion shares worth RM1.31 billion on Friday.    

Warrants turnover improved to 431.82 million units worth RM71.87 million from 252.91 million units worth RM41.86 million.  

The ACE Market volume expanded to 575.24 million shares worth RM200.29 million from 523.3 million shares worth RM162.39 million previously.   

Consumer products and services counters accounted for 229.51 million shares traded on the Main Market, industrial products and services (311.81 million), construction (35.16 million), technology (149.07 million), SPAC (nil), financial services (81.41 million), property (140.53 million), plantation (32.62 million), REITs (5.2 million), closed/fund (80,600), energy (77.76 million), healthcare (102.79 million), telecommunications and media (42.24 million), transportation and logistics (33.84 million), and utilities (12.19 million).

Source: The Edge

Market Daily Report: Bursa closes higher

KUALA LUMPUR (Oct 21): Bursa Malaysia ended the trading week higher against a backdrop of weak regional markets.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) settled 8.7 points higher at an intraday high of 1,446.42 from Thursday's close of 1,437.72.

The market bellwether opened easier by 2.33 points at 1,435.39 and reached an intraday low of 1,433.26, before picking up steam to close higher.

On a weekly basis, the benchmark index gained 63.95 points over the last five trading days.

On the broader market, gainers outpaced losers 400 to 388, while 591 counters were unchanged, 983 untraded and 19 others suspended.

Turnover decreased to 2.04 billion units worth RM1.51 billion against 2.71 billion units worth RM2.60 billion on Thursday.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said equity markets around the world had been very volatile recently as investors were worried that major economies would be pushed into recession before inflation is tamed.

Meanwhile, a strong US dollar and aggressive interest rate hike by the US Federal Reserve would create uncertainties in emerging markets, he told Bernama.

Among Bursa Malaysia's heavyweights, Malayan Banking Bhd (Maybank) increased six sen to RM8.66, Public Bank Bhd rose six sen to RM4.50, Petronas Chemicals Group Bhd jumped 10 sen to RM9, CIMB Group Holdings Bhd gained three sen to RM5.53, and IHH Healthcare Bhd fell nine sen to RM6.

Of the actives, Eduspec Holdings Bhd gained half sen to two sen, Hextar Industries Bhd climbed 2.5 sen to 54.5 sen, Vinvest Capital Holdings Bhd was two sen higher at 22 sen, Ta Win Holdings Bhd was flat at 5.5 sen, MyEG Services Bhd was unchanged at 83 sen, Borneo Oil Bhd eased half sen to two sen, and Top Glove Corp Bhd fell half sen to 83 sen.

On the index board, the FBM Emas Index expanded by 51.1 points to 10,220.9, the FBM 70 widened 35.6 points to 12,028.63, and the FBMT 100 Index improved 52.99 points to 9,970.46.

The FBM Emas Shariah Index bagged 33.69 points to 10,197.4, and the FBM ACE climbed 18.15 points to 4,801.27.

Sector-wise, the Financial Services Index soared 124.211 points to 16,511.08, the Industrial Products and Services Index rose 1.37 points to 175.76, the Plantation Index trimmed 32.38 points to 6,807.27, while the Energy Index decreased 3.73 points to 679.55.

The Main Market volume went down to 1.26 billion shares worth RM1.31 billion from 1.97 billion shares worth RM2.42 billion on Thursday.

Warrants turnover eased to 252.91 million units worth RM41.86 million from 290.39 million units worth RM50.74 million.

The ACE Market volume appreciated to 523.3 million shares worth RM162.39 million from 447.05 million shares worth RM125.28 million previously.

Consumer products and services counters accounted for 212.19 million shares traded on the Main Market, industrial products and services (368.64 million), construction (31.21 million), technology (115.7 million), SPAC (nil), financial services (78.35 million), property (126.7 million), plantation (33.48 million), REITs (64.39 million), closed/fund (3,000), energy (118.39 million), healthcare (107.49 million), telecommunications and media (21.6 million), transportation and logistics (30.56 million), and utilities (11.61 million).

Source: The Edge

Market Daily Report: Bursa rallies to close higher, KLCI up 1.6%

KUALA LUMPUR (Oct 20): Bursa Malaysia shook off early losses to end the trading day higher for the fifth straight day, with the benchmark index putting on 1.6% driven by buying interests in selected heavyweights led by Petronas Chemicals Group Bhd and Public Bank Bhd. 

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) has gained a total of 55.25 points over the last five trading days.

At 5pm, the market bellwether surged 22.62 points to settle at its intraday high of 1,437.72 from Wednesday's close of 1,415.1. 

The FBM KLCI opened 0.38 of-a-point easier at 1,414.72, but thereafter hit an intraday low of 1,411.74, before picking up steam throughout the day to close higher. 

On the broader market, gainers outpaced losers 493 to 365, while 373 counters were unchanged, 1,131 untraded, and 18 others suspended.

Turnover increased to 2.71 billion units worth RM2.6 billion from Wednesday's 2.23 billion units worth RM1.72 billion.   

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng maintained his cautiously optimistic view given the improving sentiment on the local equities market.

"Nonetheless, investors should be aware of the increasing market risks and volatility, regionally and globally. We anticipate the FBM KLCI to trend within the range of 1,430-1,450 towards the weekend with immediate resistance at 1,470 and support at 1,400,” he told Bernama.

Another dealer attributed the improving appetite in the domestic market to a pre-election rally. 

The Election Commission on Thursday announced that Malaysia will hold its next general election on Nov 19, 2022, and the candidate nominations will take place on Nov 5, providing a 14-day campaigning period.

On the market, Petronas Chemicals jumped 27 sen to RM8.90 and Public Bank surged 10 sen to RM4.44. Both counters contributed 6.91 points to the gains in the key index. 

Among other heavyweights, Malayan Banking Bhd (Maybank) gained five sen to RM8.60, CIMB Group Holdings Bhd advanced 11 sen to RM5.50, Tenaga Nasional Bhd (TNB) perked up nine sen to RM8.23, and IHH Healthcare Bhd eased one sen to RM6.09. 

Of the actives, Serba Dinamik Holdings Bhd rose 1.5 sen to three sen, Borneo Oil Bhd ticked up half-a-sen to 2.5 sen, Top Glove Corp Bhd went up one sen to 73.5 sen, Careplus Group Bhd climbed 3.5 sen to 44 sen, while MyEG Services Bhd was flat at 83 sen.

On the index board, the FBM Emas Index expanded by 125.83 points to 10,169.8, the FBM 70 widened 35.41 points to 11,993.03, and the FBMT 100 Index improved 126.75 points to 9,917.47.   

The FBM Emas Shariah Index bagged 118.77 points to 10,163.71 and the FBM ACE climbed 58.17 points to 4,783.12.   

Sector-wise, the Financial Services Index soared 208.89 points to 16,386.87, the Industrial Products and Services Index rose 1.94 points to 172.39, the Plantation Index garnered 161.53 points to 6,839.65, while the Energy Index increased 19.84 points to 683.28.   

The Main Market volume rose to 1.97 billion shares worth RM2.42 billion from 1.38 billion shares worth RM1.49 billion on Wednesday.   

Warrants turnover eased to 290.39 million units worth RM50.74 million from 292.83 million units worth RM48.01 million. 

The ACE Market volume dwindled to 447.05 million shares worth RM125.28 million against 561.51 million shares worth RM175.52 million previously.   

Consumer products and services counters accounted for 179.63 million shares traded on the Main Market, industrial products and services (463.28 million), construction (64.22 million), technology (119.73 million), SPAC (nil), financial services (152.92 million), property (121.97 million), plantation (115.15 million), REITs (6.61 million), closed/fund (nil), energy (406.03 million), healthcare (221.54 million), telecommunications and media (48.64 million), transportation and logistics (37.69 million), and utilities (31.71 million).

Source: The Edge

Market Daily Report: Bursa extends rally for fourth day running, KLCI ends at intraday high of 1,415.10

KUALA LUMPUR (Oct 19): Bursa Malaysia continued its upbeat momentum for the fourth consecutive trading day, with the key index gaining 1.05%, lifted by buying of banking stocks. 

At 5pm on Wednesday (Oct 19), the benchmark FBM KLCI had surged 14.74 points to finish at an intraday high of 1,415.10, from Tuesday's close at 1,400.36. 

The index opened 2.32 points higher at 1,402.68, and then hit an intraday low of 1,400.28, before picking up steam throughout the day to close higher. 

On the broader market, gainers slightly outpaced losers 437 to 426, while 382 counters were unchanged, 1,117 untraded and 18 others suspended.

Turnover eased to 2.23 billion units worth RM1.72 billion, from Tuesday's 2.40 billion units worth RM1.71 billion.  

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said trading in the local market was cautiously optimistic, given the improvement in regional market sentiment, but investors should stay alert due to increasing market volatility.

"We believe the KLCI will continue its uptrend as valuations remain cheap, and raise our target for the week to the 1,400-1,430 range. The immediate resistance is spotted at 1,430, while support is at 1,400,” he told Bernama.

Among the heavyweights, Malayan Banking Bhd (Maybank) rose four sen to RM8.55, Petronas Chemicals Group Bhd advanced eight sen to RM8.63, IHH Healthcare Bhd perked up 13 sen to RM6.10, and Tenaga Nasional Bhd (TNB) shed six sen to RM8.14. 

Of the actives, UEM Sunrise Bhd added one sen to 20 sen, Bintai Kinden Corp Bhd climbed half a sen to 9.5 sen, Top Glove Corp Bhd fell 1.5 sen to 72.5 sen, Hiap Huat Holdings Bhd eased three sen to 13 sen, Careplus Group Bhd declined two sen to 40.5 sen, and Eduspec Holdings Bhd slipped half a sen to one sen.  

On the index board, the FBM Emas Index expanded by 69.07 points to 10,043.97, the FBM 70 narrowed 48.53 points to 11,957.62, and the FBMT 100 Index improved by 68.97 points to 9,790.72.  

The FBM Emas Shariah Index bagged 10.16 points to 10,044.94, and the FBM ACE slid 28.22 points to 4,724.95.  

Sector-wise, the Financial Services Index soared 284.65 points to 16,177.98, the Industrial Products and Services Index rose 1.59 points to 172.45, the Plantation Index increased 61.45 points to 6,678.12, and the Energy Index fell 7.33 points to 663.44.  

The Main Market volume decreased to 1.38 billion shares worth RM1.49 billion, from Tuesday's 1.47 billion shares worth RM1.40 billion.  

Warrant turnover narrowed to 292.83 million units worth RM48.01 million, from 300.37 million units valued at RM47.67 million.

The ACE Market volume dwindled to 561.51 million shares worth RM175.52 million, from 633.53 million shares worth RM260.03 million.  

Consumer product and service counters accounted for 170.80 million shares traded on the Main Market, followed by industrial products and services (364.16 million), construction (41.35 million), technology (170.40 million), special purpose acquisition companies (nil), financial services (67.95 million), property (177.52 million), plantation (46.47 million), real estate investment trusts (7.08 million), closed/funds (2,000), energy (88.62 million), healthcare (186.75 million), telecommunications and media (21.06 million), transportation and logistics (25.62 million), and utilities (11.79 million).

Source: The Edge

Market Daily Report: KLCI closes above 1,400 points on buying interest in plantation, telco stocks

KUALA LUMPUR (Oct 18): Bursa Malaysia rallied to close broadly higher on Tuesday (Oct 18), amid strong buying interest mainly in plantation and telecommunications company (telco) stocks, with the benchmark index settling above the 1,400-point mark.

At 5pm, the FBM KLCI had surged 14.09 points or 1.02% to finish at 1,400.36, from Monday's close at 1,386.27.

The barometer index opened 6.65 points higher at 1,392.92, and moved between 1,389.16 and 1,400.39.

On the broader market, gainers led decliners 566 to 272, while 368 counters were unchanged, 1,144 untraded and seven others suspended.

Turnover widened to 2.40 billion units worth RM1.71 billion, against Monday's 1.98 billion units worth RM1.49 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng was cautiously optimistic about the near term, given the improving global market sentiment.

"We expect investors to continue to bargain-hunt for stocks, due to attractive valuations, following heavy selldowns over the past two weeks. We anticipate the KLCI to trend within the range of 1,390-1,410 for the remainder of the week, with immediate resistance at 1,430 and support at 1,370,” he said.

Axiata Group Bhd surged 23 sen to RM2.64, IOI Corp Bhd soared 26 sen to RM3.95, and Digi.Com Bhd jumped 17 sen to RM3.44. The three counters contributed to a rise of 8.54 points in the benchmark index.

Among the heavyweights, Petronas Chemicals Group Bhd advanced five sen to RM8.55, IHH Healthcare Bhd chalked up 11 sen to RM5.97, Public Bank Bhd was flat at RM4.20, Malayan Banking Bhd (Maybank) shed one sen to RM8.51, and CIMB Group Holdings Bhd gave up five sen to RM5.25.

Of the actives, Careplus Group Bhd gained one sen to 42.5 sen, Hong Seng Consolidated Bhd improved by five sen to 27 sen, NWP Holdings Bhd edged up half a sen to 23.5 sen, Top Glove Corp Bhd was flat at 74 sen, and Citaglobal Bhd eased one sen to 26.5 sen.

On the index board, the FBM Emas Index bolstered 110.84 points to 9,974.90, the FBM 70 strengthened 173.61 points to 12,006.15, and the FBMT 100 Index shot up 107.92 points to 9,721.75. 

The FBM Emas Shariah Index bagged 181.64 points to 10,034.78, and the FBM ACE climbed 71.40 points to 4,753.17. 

Sector-wise, the Financial Services Index fell 22.57 points to 15,893.33, the Industrial Products and Services Index grew 1.31 point to 170.86, the Plantation Index soared 211.21 points to 6,616.67, and the Energy Index gained 5.73 points to 670.77. 

The Main Market volume rose to 1.47 billion shares worth RM1.40 billion, from 1.16 billion shares worth RM1.22 billion on Monday. 

Warrant turnover appreciated to 300.37 million units valued at RM47.67 million, against 269.20 million units valued at RM44.36 million.

The ACE Market volume expanded to 633.53 million shares worth RM260.03 million, from 546.11 million shares worth RM219.47 million previously. 

Consumer product and service counters accounted for 224.43 million shares traded on the Main Market, followed by industrial products and services (398.64 million), construction (50.92 million), technology (215.34 million), special purpose acquisition companies (nil), financial services (50.21 million), property (69.52 million), plantation (18.76 million), real estate investment trusts (10.59 million), closed/funds (14,900), energy (82.26 million), healthcare (273.37 million), telecommunications and media (31.12 million), transportation and logistics (29.78 million), and utilities (15.50 million).

Source: The Edge

Market Daily Report: Bursa ends mixed, KLCI up 3.8 points

KUALA LUMPUR (Oct 17): Bursa Malaysia ended trading on a mixed note on Monday (Oct 17), with continued buying of selected healthcare and utility counters, which kept the local benchmark index in positive territory, in line with regional markets as investors remained cautious over the economic outlook.

At 5pm, the benchmark FBM KLCI index settled 3.80 points higher at 1,386.27, from last Friday's close at 1,382.47.

The barometer index opened 1.03 points higher at 1,383.50, dipping to a low of 1,376.68, before gathering momentum to trend upwards throughout the afternoon to an intraday high of 1,389.21.

On the broader market, however, decliners led advancers 443 to 363, while 394 counters were unchanged, 1,145 untraded, and 17 others suspended.

Turnover narrowed to 1.98 billion units worth RM1.49 billion, against 2.25 billion units worth RM1.76 billion last Friday.

IHH Healthcare Bhd and Tenaga Nasional Bhd (TNB) were the top two contributors to the gain in the KLCI, with a combined 3.63 points. IHH put on 14 sen to end at RM5.86. TNB added 16 sen to RM8.19.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the market bellwether closed marginally higher, as investors continued to bargain-hunt for stocks at lower levels, following the recent heavy selldown.

“Key regional indices trended mixed, as investors were wary of further drastic tightening in global financial markets, with all the risk of a recession that it brings.

“On the other hand, Chinese President Xi Jinping said on Sunday that Beijing will ramp up spending and stimulus to help shore up economic growth, potentially boosting crude imports, which have been hit by slowing activity as a result of Covid-19 disruptions,” he told Bernama.

On the home front, Thong reckoned that bargain-hunting may continue, as the benchmark index remained in the oversold position.

“Additionally, some investors may position themselves for the upcoming 15th general election. As such, we anticipate the KLCI to trend within the range of 1,380-1,400 for the week. Technically speaking, we shall see immediate resistance at 1,400 and support at 1,370,” he said.

Among other heavyweights, Malayan Banking Bhd (Maybank) gained seven sen to RM8.52, Hong Leong Bank Bhd went up 10 sen to RM20.60, Petronas Chemicals Group Bhd shed five sen to RM8.50, Public Bank Bhd was unchanged at RM4.20, and CIMB Group Holdings Bhd was flat at RM5.30.

Of the actives, ACE Market debutant Sunview Group Bhd gained 17 sen to 46 sen, Top Glove Corp Bhd improved five sen to 74 sen, Careplus Group Bhd surged 9.5 sen to 41.5 sen, and Supermax Corp Bhd increased eight sen to 90.5 sen.

On the index board, the FBM Emas Index added 5.74 points to 9,864.06, the FBM 70 declined 72.16 points to 11,832.54, and the FBMT 100 Index gained 6.37 points to 9,613.83.

The FBM Emas Shariah Index fell 1.65 points to 9,853.14, and the FBM ACE climbed 29.67 points to 4,681.77.

Sector-wise, the Financial Services Index was 42.42 points higher at 15,915.90, the Industrial Products and Services Index eased 0.33 of a point to 169.55, the Plantation Index shed 16.41 points to 6,405.46, and the Energy Index slid 3.65 points to 665.04.

The Main Market volume declined to 1.16 billion shares worth RM1.22 billion, versus 1.41 billion shares worth RM1.53 billion last Friday.

Warrant turnover slipped to 269.20 million units valued at RM44.36 million, against 382.09 million units valued at RM53.67 million previously.

The ACE Market volume expanded to 546.11 million shares worth RM219.47 million, from 465.02 million shares worth RM173.42 million last Friday.

Consumer product and service counters accounted for 156.42 million shares traded on the Main Market, followed by industrial products and services (296.55 million), construction (45.81 million), technology (93.89 million), special purpose acquisition companies (nil), financial services (48.72 million), property (74.89 million), plantation (14.69 million), real estate investment trusts (6.14 million), closed/funds (500), energy (87.22 million), healthcare (277.01 million), telecommunications and media (22.63 million), transportation and logistics (22.24 million), and utilities (12.60 million).

Source: The Edge

Market Daily Report: Bursa stages rebound to end week on positive tone

KUALA LUMPUR (Oct 14): Bursa Malaysia rebounded from Thursday's (Oct 13) loss to end the week on a positive note, with the benchmark index rising by 0.66% on renewed buying interest after Wall Street rallied overnight, an analyst said.

At 5pm on Friday, the benchmark FBM KLCI had risen by 9.11 points to 1,382.47, from Thursday's close at 1,373.36.

The barometer index opened 8.27 points higher at 1,381.63, and continued its uptrend throughout the day, trading between an intraday low of 1,381.34 and an intraday high of 1,391.38.

On the broader market, gainers led decliners 481 to 335, while 407 counters were unchanged, 1,123 untraded, and 19 others suspended.

Turnover widened to 2.25 billion units worth RM1.76 billion, against 2.03 billion units worth RM1.69 billion on Thursday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama that key regional markets also trended higher on Friday, taking their cue from the strong rebound on Wall Street after the release of US inflation data overnight.

"Traders perceived that US inflation might have peaked, after the country’s consumer price index in September remained high," he said. 

On the home front, heavyweight Malayan Banking Bhd (Maybank) eased two sen to RM8.45, Public Bank Bhd earned three sen to RM4.20, and Petronas Chemicals Group Bhd climbed 10 sen to RM8.55. CIMB Group Holdings Bhd stayed flat at RM5.30, while IHH Healthcare Bhd added 12 sen to RM5.72.

Of the actives, Sapura Energy Bhd was unchanged at four sen and Top Glove Corp Bhd stayed flat at 69 sen, while MyEG Services Bhd advanced 5.5 sen to 84.5 sen. Citaglobal Bhd shaved half a sen to 26.5 sen, whereas Supermax Corp Bhd gained five sen to 82.5 sen.

On the index board, the FBM Emas Index added 59.80 points to 9,858.32, the FBM 70 climbed 63.56 points to 11,904.70, and the FBMT 100 Index gained 60.48 points to 9,607.46.

The FBM Emas Shariah Index strengthened 87.25 points to 9,854.79, while the FBM ACE gained 34.45 points to 4,652.10.

Sector-wise, the Financial Services Index was 10.16 points higher at 15,873.48, the Industrial Products and Services Index ticked up 1.37 points to 169.88, and the Plantation Index added 73.85 points to 6,421.87. The Energy Index perked up 0.74 of a point to 668.69.

The Main Market volume widened to 1.41 billion shares worth RM1.53 billion, versus 1.39 billion shares worth RM1.51 billion on Thursday.

Warrant turnover jumped to 382.09 million units valued at RM53.67 million, against 235.42 million units valued at RM39.46 million previously.

The ACE Market volume expanded to 465.02 million shares worth RM173.42 million, from 406.04 million shares worth RM139.86 million.

Consumer product and service counters accounted for 178.92 million shares traded on the Main Market, followed by industrial products and services (352.58 million), construction (39.22 million), technology (164.64 million), special purpose acquisition companies (nil), financial services (74.17 million), property (93.69 million), plantation (17.12 million), real estate investment trusts (8.95 million), closed/funds (2,000), energy (187.04 million), healthcare (229.12 million), telecommunications and media (24.77 million), transportation and logistics (20.18 million), and utilities (14.96 million).

Source: The Edge

Market Daily Report: Bursa down for fourth day running, KLCI at lowest year-to-date

KUALA LUMPUR (Oct 13): Bursa Malaysia extended its downtrend at the close for the fourth consecutive trading day on Thursday (Oct 13), with the benchmark index hitting a new year-to-date (YTD) low, as cautious investors offloaded shares.

At 5pm, the benchmark FBM KLCI had fallen by 7.21 points, or 0.52%, to 1,373.36, from Wednesday's close at 1,380.57.

The barometer index opened 4.29 points higher at 1,384.86, before retreating in the mid-morning into negative territory.

It was traded between an intraday low of 1,372.57 and an intraday high of 1,385.07.

On the broader market, decliners surpassed gainers 521 to 321, while 353 counters were unchanged, 1,151 untraded, and nine others suspended.

Turnover widened to 2.03 billion units worth RM1.69 billion, from 1.85 billion units worth RM1.56 billion on Wednesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng noted that the KLCI remained in negative territory, after a lacklustre trading day, due to the absence of buying catalysts.

"Nevertheless, we believe the KLCI is extremely oversold.

“Hence, we reckon bargain-hunting may set in, and [push up] the benchmark index to be slightly higher within the 1,370-1,390 range towards the weekend," he told Bernama.

Thong also noted that key regional markets were mostly lower ahead of the release of US consumer price index data, as investors were wary inflation would still be on the high side, thereby reinforcing the US Federal Reserve’s plans for more aggressive interest rate hikes.

Among the heavyweights, Malayan Banking Bhd (Maybank) eased by four sen to RM8.47, Public Bank Bhd gave up five sen to RM4.17, and Petronas Chemicals Group Bhd dropped 10 sen to RM8.45.

CIMB Group Holdings Bhd stayed flat at RM5.30, while IHH Healthcare Bhd gained six sen to RM5.60.

Of the actives, Top Glove Corp Bhd added 5.5 sen to 69 sen, MyEG Services Bhd gave up nine sen to 79 sen, and Citaglobal Bhd inched down 1.5 sen to 27 sen.

Supermax Corp Bhd rose 6.5 sen to 77.5 sen. Careplus Group Bhd too gained 6.5 sen to 31.5 sen.

On the index board, the FBM Emas Index trimmed 53.88 points to 9,798.52, the FBM 70 went down 98.22 points to 11,841.14, and the FBMT 100 Index contracted 57.03 points to 9,546.98.

The FBM Emas Shariah Index dropped 54.09 points to 9,767.54, and the FBM ACE lost 13.72 points to 4,617.65.

Sector-wise, the Financial Services Index was 60.45 points lower at 15,863.32, the Industrial Products and Services Index shaved 0.73 of a point to 168.51, and the Plantation Index slipped 16.50 points to 6,348.02.

The Energy Index trimmed 6.83 points to 667.95.

The Main Market volume widened to 1.39 billion shares worth RM1.51 billion, versus 1.11 billion shares worth RM1.37 billion on Wednesday.

Warrant turnover declined to 235.42 million units valued at RM39.46 million, against 364.45 million units valued at RM48.22 million previously.

The ACE Market volume improved to 406.04 million shares worth RM139.86 million, from 375.39 million shares worth RM140.89 million.

Consumer product and service counters accounted for 180.81 million shares traded on the Main Market, followed by industrial products and services (348.52 million), construction (34.88 million), technology (168.28 million), special purpose acquisition companies (nil), financial services (63.95 million), property (123.75 million), plantation (13.94 million), real estate investment trusts (4.71 million), closed/funds (5,000), energy (93.79 million), healthcare (276.28 million), telecommunications and media (38.37 million), transportation and logistics (26.53 million), and utilities (13.09 million).

Source: The Edge

Market Daily Report: Bursa ends lower amid caution ahead of US inflation data

KUALA LUMPUR (Oct 12): Bursa Malaysia continued its downtrend to end lower on Wednesday (Oct 12), due to a lack of buying interest, as investors were cautious amid global economic uncertainties and US inflation data due this week, an analyst said.

At 5pm, the benchmark FBM KLCI settled 6.25 points, or 0.45%, lower at 1,380.57, from Tuesday's close at 1,386.82.

The barometer index opened 1.46 points higher at 1,388.28, before turning negative in the mid-morning, and stayed in negative territory during the afternoon session. It was traded between an intraday low of 1,376.54 and an intraday high of 1,391.47.

On the broader market, decliners surpassed gainers 490 to 344, while 384 counters were unchanged, 1,140 untraded, and 17 others suspended.

Turnover narrowed to 1.85 billion units worth RM1.56 billion, from 2.35 billion units worth RM1.86 billion on Tuesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional key indices were mixed, as investors were cautious ahead of inflation data from the US due this week.

On the home front, he said the short-term sentiment remained jittery, due to various external factors, although bargain-hunting might emerge going forward.

"We anticipate the KLCI to trend sideways, with an upside bias for the remainder of the week, within the region of 1,375-1,400," he told Bernama.

Among the heavyweight counters, Malayan Banking Bhd (Maybank) rose seven sen to RM8.51, Public Bank Bhd added two sen to RM4.22, and CIMB Group Holdings Bhd went up one sen to RM5.30.

Petronas Chemicals Group Bhd inched down four sen to RM8.55, and IHH Healthcare Bhd fell 11 sen to RM5.54.

Of the actives, Citaglobal Bhd gained 3.5 sen to 28.5 sen, Top Glove Corp Bhd rose one sen to 63.5 sen and Privasia Technology Bhd too increased by one sen to 12 sen, while NWP Holdings Bhd gave up half a sen to 23 sen and MyEG Services Bhd too lost half a sen to 88 sen.

On the index board, the FBM Emas Index trimmed 48.47 points to 9,852.40, the FBM 70 went down 93.41 points to 11,939.36, and the FBMT 100 Index contracted 50.98 points to 9,604.01.

The FBM Emas Shariah Index dropped 89.15 points to 9,821.63, and the FBM ACE reduced 21.47 points to 4,631.37.

Sector-wise, the Financial Services Index was 38.63 points higher at 15,923.77, while the Industrial Products and Services Index eased by 1.35 points to 169.24.

The Plantation Index slipped 11.23 points to 6,364.52, and the Energy Index shaved 0.98 of a point to 674.78.

The Main Market volume narrowed to 1.11 billion shares worth RM1.37 billion, versus 1.48 billion shares worth RM1.62 billion on Tuesday.

Warrant turnover rose to 364.45 million units valued at RM48.22 million, from 343.11 million units valued at RM53.76 million previously.

The ACE Market volume decreased to 375.39 million shares worth RM140.89 million, against 521.01 million shares worth RM184.89 million on Tuesday.

Consumer product and service counters accounted for 174.28 million shares traded on the Main Market, followed by industrial products and services (316.96 million), construction (39.52 million), technology (111.73 million), special purpose acquisition companies (nil), financial services (71.75 million), property (76.25 million), plantation (23.03 million), real estate investment trusts (5.18 million), closed/funds (100), energy (132.58 million), healthcare (86.28 million), telecommunications and media (32.77 million), transportation and logistics (24.58 million), and utilities (10.49 million).

Source: The Edge

Market Daily Report: Bursa ends lower on global selldown

KUALA LUMPUR (Oct 11): Bursa Malaysia ended sharply lower on Tuesday (Oct 11), weighed down by persistent selling in heavyweight stocks due to the global market selldown, said an analyst.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 19.18 points to 1,386.82 from Friday's close of 1,406.

The benchmark index, which opened 5.42 points lower at 1,400.58, remained in the negative territory throughout the day, hitting at one point an intraday low of 1,383.25.

On the broader market, decliners trounced gainers 787 to 197, while 302 counters were unchanged, 1,073 untraded and 17 others suspended.

Turnover stood at 2.35 billion units worth RM1.86 billion.

Rakuten Trade Sdn Bhd vice-president of Equity Research Thong Pak Leng said key regional indices trended mostly lower with selling mainly in technology stocks after the US announced measures limiting their access to certain US-made technology.

“Meanwhile, sentiment across the region was brought down by hawkish comments from the US Federal Reserve vice-chair Lael Brainard on Monday, whereby the central bank has no intentions of a dovish pivot in the near term.

“On the domestic front, we expect the local bourse to remain cautious due to external factors such as increasing market risks and volatility on global markets," he told Bernama.

Nevertheless, Thong noted that the FBM KLCI remained in an oversold position, which could trigger bargain-hunting activities.

Among the Bursa heavyweights, Malayan Banking Bhd (Maybank) dropped 21 sen to RM8.44, Public Bank Bhd eased six sen to RM4.20, and IHH Healthcare Bhd weakened 11 sen to RM5.65, while Petronas Chemicals Group Bhd added two sen to RM8.59, and CIMB Group Holdings Bhd increased four sen to RM5.29.

Of the actives, MyEG Services Bhd slipped 2.5 sen to 88.5 sen, Advance Synergy Bhd gained one sen to seven sen, while Icon Offshore Bhd rose one sen to 12 sen. Top Glove Corp Bhd trimmed two sen to 62.5 sen, and Velesto Energy Bhd lost half-a-sen to 11.5 sen.

On the index board, the FBM Emas Index declined 149.92 points to 9,900.87, the FBM 70 weakened 219.1 points to 12,032.77, the FBMT 100 Index dropped 143.55 points to 9,654.99, the FBM Emas Shariah Index contracted 160.52 points to 9,910.78, and the FBM ACE shrank 56.13 points to 4,652.84.

Sector-wise, the Financial Services Index was 187.07 points lower at 15,885.14, the Industrial Products and Services Index eased 3.46 points to 170.59, the Plantation Index reduced 91.57 points to 6,375.75, and the Energy Index trimmed 21.43 points to 675.76.

The Main Market volume widened to 1.48 billion shares worth RM1.62 billion versus 1.23 billion shares worth RM1.25 billion on Friday.

Warrant turnover rose to 343.11 million units valued at RM53.76 million from 181.42 million units valued at RM34.13 million previously.

The ACE Market volume improved to 521.01 million shares worth RM184.89 million against 493.18 million shares worth RM144.85 million last week.

Consumer products and services counters accounted for 241.46 million shares traded on the Main Market, industrial products and services (423.28 million), construction (44.34 million), technology (177.37 million), SPAC (nil), financial services (82.25 million), property (89.37 million), plantation (17.49 million), REITs (4.25 million), closed/fund (4,300), energy (231.39 million), healthcare (97.72 million), telecommunications and media (39.05 million), transportation and logistics (19.24 million) and utilities (14.95 million).

Source: The Edge

Market Daily Report: Bursa ends flat on last-minute profit-taking ahead of Budget 2023

KUALA LUMPUR (Oct 6): Bursa Malaysia ended flat on Thursday (Oct 6) on last-minute selling ahead of the tabling of Budget 2023 on Friday, an analyst said.

At 5pm, the benchmark index fell 0.12 points, or 0.01%, to 1,420.43 from Wednesday's close of 1,420.55.

It opened 4.2 points better at 1,424.75 and moved to a high of 1,428.13 at mid-morning.

However, market breadth was positive, with gainers outpacing decliners 435 to 328, while 427 counters were unchanged, 1,157 untraded, and seven others suspended.

Turnover stood at 2.25 billion units worth RM1.59 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI closed in negative territory as profit-taking emerged in the final minutes of the trading session.

Regionally, key indices closed broadly higher as investors continued to pick up battered stocks at a bargain following a brutal selldown since mid-September.

"Despite the improvement in the regional market sentiment, we prefer to stay cautious as we reckon market volatility to heighten going forward, thus expect the local market to encounter wilder swings although the benchmark index remains in an oversold position," he told Bernama.

Thong expects the FBM KLCI to trade range-bound and hover at the 1,410-1,430 range towards the weekend.

From a technical view, immediate resistance is seen at 1,430 points, followed by 1,460, while support is at 1,400, followed by 1,380.

Among Bursa heavyweight counters, Malayan Banking Bhd (Maybank) shed three sen to RM8.67, Petronas Chemicals Group Bhd eased one sen to RM8.64, and IHH Healthcare Bhd slid four sen to RM5.81. Public Bank Bhd was flat at RM4.25, while CIMB Group Holdings Bhd was unchanged at RM5.26.

Of the actives, ACE Market debutant Cosmos Technology International Bhd surged 21 sen to 56 sen, Top Glove Corp Bhd improved 3.5 sen to 67.5 sen, and MyEG Services Bhd edged up three sen to 90.5 sen. MMAG Holdings Bhd was flat at 2.5 sen, and TWL Holdings Bhd went down by half-a-sen to four sen.

On the index board, the FBM Emas Index widened 14.14 points to 10,133.59, the FBM 70 garnered 73.25 points to 12,308.87, and the FBMT 100 Index improved 13.31 points to 9,886. The FBM Emas Shariah Index rose 27.22 points to 10,197.13, while the FBM ACE climbed 9.39 points to 4,743.66.

Sector-wise, the Energy Index added 4.2 points to 698.3, and the Industrial Products and Services Index edged up 0.77 of-a-point to 174.72.

The Plantation Index slipped 32.92 points to 6,562.14, and the Financial Services Index was 5.08 points easier at 16,121.02.

The Main Market volume reduced to 1.38 billion shares worth RM1.31 billion against Wednesday’s 1.47 billion shares worth RM1.43 billion.

Warrant turnover was lower at 161.61 million units valued at RM28.11 million from 346.67 million units valued at RM59.66 million previously.

The ACE Market volume slipped to 706.76 million shares worth RM252.64 million from 1.41 billion shares worth RM228.56 million Wednesday.

Consumer products and services counters accounted for 197.35 million shares traded on the Main Market, industrial products and services (313.84 million), construction (38.25 million), technology (175.23 million), SPAC (nil), financial services (60.44 million), property (156.09 million), plantation (18.49 million), REITs (5.89 million), closed/fund (23,000), energy (177.18 million), healthcare (182.99 million), telecommunications and media (27.38 million), transportation and logistics (15.98 million), and utilities (10.66 million).

Source: The Edge

Market Daily Report: Bursa ends higher for third consecutive day on Wall St rally

KUALA LUMPUR (Oct 5): Bursa Malaysia ended higher for the third consecutive day on Wednesday (Oct 5), in line with regional peers amid improving sentiment after a rally on Wall Street overnight, an analyst said.

At 5pm, the benchmark index advanced 11.19 points, or 0.8%, to end at 1,420.55 from Tuesday's close of 1,409.36.

It opened 4.31 points better at 1,413.67 and moved to a high of 1,424.65.

Market breadth was positive with gainers outpacing decliners 518 to 349, while 397 counters were unchanged, 1,066 untraded, and six others suspended.

Turnover stood at 3.23 billion units worth RM1.72 billion.

Mohd Sedek Jantan, UOB Kay Hian Wealth Advisors Sdn Bhd head of wealth research and adviser, said the Wall Street rally overnight bolstered trading in the FBM KLCI and Asian markets.

"In the short term, the market will remain highly vulnerable to external headwinds and the performance of US markets.

"Locally, all eyes will be on the Budget 2023, which will be unveiled this Friday.

“Although there are pockets of trading opportunities, we maintain that Budget 2023 and the 15th general election (GE15) would generally be market-neutral," he told Bernama.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng expects the overall market sentiment to further improve as falling commodity prices, especially crude oil, might ease inflationary risks in the global economy.

Nonetheless, investors will remain cautious about the heightened market volatility although the local market remained in an oversold position, he said.

Thong expects the FBM KLCI to trend slightly higher between 1,410 and 1,430 for the remainder of the week, with immediate resistance at 1,450 and support at 1,400, followed by 1,380.

Among Bursa heavyweight counters, Malayan Banking Bhd (Maybank) added two sen to RM8.70, Petronas Chemicals Group Bhd widened by 26 sen to RM8.65, and CIMB Group Holdings Bhd grew by three sen to RM5.26. Public Bank Bhd fell two sen to RM4.25, and IHH Healthcare Bhd was flat at RM5.85.

Of the actives, MMAG Holdings Bhd reduced one sen to 2.5 sen, Cypark Resources Bhd gave up 2.5 sen to 43.5 sen, and Hiap Huat Holdings Bhd eased half-a-sen to 15.5 sen.

Hibiscus Petroleum Bhd pushed up 7.5 sen to 94.5 sen, and Top Glove Corp Bhd bagged two sen to 64 sen.

On the index board, the FBM Emas Index widened 68.54 points to 10,119.45, the FBM 70 garnered 54.91 points to 12,235.62, and the FBMT 100 Index improved 69.86 points to 9,872.69.

The FBM Emas Shariah Index jumped 100.37 points to 10,169.91, and the FBM ACE climbed 25.27 points to 4,734.27.

Sector-wise, the Energy Index added 9.58 points to 694.1, the Financial Services Index was 34.67 points better at 16,126.1, and the Industrial Products and Services Index edged up 4.09 points to 173.95.

The Plantation Index surged 157 points to 6,595.06.

The Main Market volume widened to 1.47 billion shares worth RM1.43 billion against Tuesday’s 1.36 billion shares worth RM1.26 billion.

Warrant turnover advanced to 346.67 million units valued at RM59.66 million from 107.86 million units valued at RM13.55 million previously.  

The ACE Market volume surged to 1.41 billion shares worth RM228.56 million from 443.62 million shares worth RM180.15 million on Tuesday.

Consumer products and services counters accounted for 215.16 million shares traded on the Main Market, industrial products and services (445.50 million), construction (35.01 million), technology (157.13 million), SPAC (nil), financial services (57.39 million), property (148.44 million), plantation (35.62 million), REITs (4.82 million), closed/fund (10,000), energy (199.52 million), healthcare (111.64 million), telecommunications and media (19.93 million), transportation and logistics (34.48 million) and utilities (10.26 million).

Source: The Edge

Market Daily Report: Bursa ends higher on improving global sentiment

KUALA LUMPUR (Oct 4): Bursa Malaysia extended Monday's (Oct 3) gains to close higher on Tuesday, bolstered by the improving global sentiment and bargain-hunting activities in selected heavyweight stocks, a dealer said.

At 5pm, the benchmark index advanced 11.74 points to end at 1,409.36 from Monday’s close of 1,397.62.

It opened 6.14 points firmer at 1,403.76 and moved between 1,402.9 and 1,411.55 throughout the day.     

Market breadth was positive with gainers outpacing decliners 567 to 280, while 331 counters remained unchanged, 1,175 untraded, and 30 others suspended.

Total turnover widened to 1.92 billion units worth RM1.46 billion from 1.79 billion units worth RM1.45 billion on Monday. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI trended higher on Tuesday as investors continued to bargain hunt stocks at lower levels after recent selldowns.

He said key regional indices also trended broadly higher after stocks on Wall Street rallied overnight.

“Investors believe that a weakening US economy may push the Federal Reserve into reducing its hawkish tone,” he told Bernama.

Back home, in view of the greater market volatility, Thong anticipated the FBM KLCI to trend within a wider range of 1,390 to 1,420 for the remaining of the week with immediate resistance at 1,450, with support at 1,400 followed by 1,380.

Meanwhile, Malacca Securities Sdn Bhd senior analyst Kenneth Leong predicts the FBM KLCI will further recover towards 1,430 and 1,460, with support at 1,385 if the local bourse stays above the 1,400 level.

“The FBM KLCI charged higher today (Tuesday, Oct 4), taking [a] cue from gains on Wall Street overnight as the rebound move was noted throughout the session. With the calmer market sentiment, we expect gains likely to extend over time as investors bargain hunt on beaten down stocks.

“Moving forward, the focus will remain towards the tabling of Budget 2023 on Friday,” he said.

Among the heavyweight stocks, Malayan Banking Bhd (Maybank) gained eight sen to RM8.68, Public Bank Bhd added two sen to RM4.27, CIMB Group Holdings Bhd improved 11 sen to RM5.23, and IHH Healthcare Bhd reduced four sen to RM5.85, while Petronas Chemicals Group Bhd was flat at RM8.39.

Of the actives, both Citaglobal Bhd ticked up 2.5 sen to 26.5 sen, and Top Glove Corp Bhd, too, rose 2.5 sen to 62 sen. Cypark Resources Bhd edged up three sen to 46 sen, and Hiap Huat Holdings Bhd rose two sen to 16 sen, while PT Resources Holdings Bhd was flat at 45.5 sen.

On the index board, the FBM Emas Index advanced 83.51 points to 10,050.91, the FBM 70 earned 91.92 points to 12,180.71, and the FBMT 100 Index grew by 79.87 points to 9,802.83, the FBM Emas Shariah Index rose 74.44 points to 10,069.54, and the FBM ACE strengthened 56.89 points to 4,709.    

Sector-wise, the Energy Index was 10.27 points firmer at 684.52, the Financial Services Index jumped 148.22 points to 16,091.43, and the Industrial Products and Services Index edged up 1.2 points to 169.86.

The Plantation Index, however, reduced by 70.93 points to 6,438.06.

The Main Market volume widened to 1.36 billion shares worth RM1.26 billion against Monday’s 1.11 billion shares worth RM1.21 billion.

Warrant turnover reduced to 107.86 million units valued at RM13.55 million from 214.84 million units valued at RM42.82 million previously.  

The ACE Market volume trimmed to 443.62 million shares worth RM180.15 million from 461.78 million shares worth RM194.78 million on Monday.

Consumer products and services counters accounted for 143.82 million shares traded on the Main Market, industrial products and services (543.9 million), construction (38.45 million), technology (139.19 million), SPAC (nil), financial services (57.46 million), property (143.18 million), plantation (19.37 million), REITs (4.82 million), closed/fund (13,000), energy (128.13 million), healthcare (80.58 million), telecommunications and media (26.17 million), transportation and logistics (29.47 million) and utilities (9.88 million).

Source: The Edge

Market Dail Report: KLCI snaps eight-day losing streak, broader market stays negative

KUALA LUMPUR (Oct 3): The FTSE Bursa Malaysia KLCI (FBM KLCI) snapped eight days of losses to end higher on Monday (Oct 3) on mild bargain-hunting activities, an analyst said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 2.99 points to end at 1,397.62 from last Friday's close of 1,394.63.

The benchmark index opened 0.93 of a point easier at 1,393.7 and moved between 1,384.82 and 1,401.82 throughout the day.     

Market breadth, however, remained negative with losers leading gainers 530 to 285, while 383 counters remained unchanged, 1,155 untraded, and 31 others suspended.

Total turnover decreased to 1.79 billion units worth RM1.45 billion from 2.08 billion units worth RM1.91 billion last Friday.

"Still, gains are kept in check amid ongoing concerns over the rising inflationary pressure and tightening of monetary policy," Malacca Securities Sdn Bhd senior analyst Kenneth Leong told Bernama.

Moving forward, investors would be looking out for fresh catalysts from Budget 2023, which is scheduled to be announced on Friday, he said.

Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional key indices ended mostly negative following the broadly negative cues from Wall Street on Friday.

"Investors remain wary over rising interest rates, and slowing economic growth across the globe dented appetite for risk-driven assets.

"As for the local bourse, we reckon the short-term market sentiment will remain jittery amid the uncertain regional performance although bargain hunting may continue as the FBM KLCI remains in an oversold position," he told Bernama.

Thong anticipated that the FBM KLCI would trend sideways for the week with an uptrend bias in the range of 1,390 to 1,410.

From the technical point of view, he said the local bourse would see resistance at 1,410 and support at 1,380.

Among the heavyweight stocks, Malayan Banking Bhd (Maybank) gained two sen to RM8.60, and Public Bank Bhd, too, rose two sen to RM4.25. Petronas Chemicals Group Bhd was flat at RM8.39, while CIMB Group Holdings Bhd gave up one sen to RM5.12, and IHH Healthcare Bhd, too, eased one sen to RM5.89.

Of the actives, TWL Holdings Bhd added half-a-sen to five sen, and Citaglobal Bhd, too, gained half-a-sen to 24 sen, Hextar Industries Bhd edged up 4.5 sen to 47 sen, Top Glove Corp Bhd trimmed three sen to 59.5 sen, and PT Resources Holdings Bhd eased half-a-sen to 45.5 sen.

On the index board, the FBM Emas Index fell 9.46 points to 9,967.4, the FBM 70 dropped 113.02 points to 12,088.79, the FBMT 100 Index trimmed 5.74 points to 9,722.96, the FBM Emas Shariah Index lost 12.93 points to 9,995.1, and the FBM ACE gave up 5.76 points to 4,652.11.  

Sector-wise, the Energy Index was 4.07 points firmer at 674.25, the Financial Services Index improved 20.76 points to 15,943.21, and the Plantation Index ticked up 35.23 points to 6,508.99, while the Industrial Products and Services Index eased by 1.21 points to 168.66.

The Main Market volume slid to 1.11 billion shares worth RM1.21 billion against Friday's 1.19 billion shares worth RM1.65 billion.

Warrant turnover reduced to 214.84 million units valued at RM42.82 million from 258.61 million units valued at RM50.33 million previously.  

The ACE Market volume shrank to 461.78 million shares worth RM194.78 million from 626.22 million shares worth RM209.75 million last Friday.

Consumer products and services counters accounted for 180.61 million shares traded on the Main Market, industrial products and services (289.01 million), construction (36.15 million), technology (95.46 million), SPAC (nil), financial services (72.64 million), property (136.82 million), plantation (11.87 million), REITs (4.6 million), closed/fund (2,500), energy (116.34 million), healthcare (100.36 million), telecommunications and media (27.47 million), transportation and logistics (27.05 million), and utilities (13.4 million).

Source: The Edge