Skip to main content

Posts

Showing posts from January, 2023

Featured Post

Russia Holds Key Rate at 21% Amid Surging Inflation

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

Market Daily Report: Bursa closes at intraday low, down 13.89 points

KUALA LUMPUR (Jan 31): Bursa Malaysia ended at its intraday low on the last trading day of January, echoing the negative performance of regional bourses and poor global market sentiment. At 5pm on Tuesday (Jan 31), the benchmark FBM KLCI had given up 13.89 points or 0.93% to 1,485.50, from Monday's close at 1,499.39. It opened 5.60 points lower at 1,493.79, and moved between 1,485.50 and 1,493.89 throughout the day.  Market breadth was negative, with losers thumping gainers 632 to 325, while 389 counters were unchanged, 861 untraded, and 45 others suspended. Turnover shrank to 4.03 billion units worth RM2.78 billion, against Monday's 4.56 billion units worth RM2.44 billion. Commenting on Tuesday's market performance, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI closed lower in tandem with the negative performance of regional bourses. “Key regional indices closed lower wi...

Market Daily Report: Bursa ends slightly higher on late bargain-hunting

 KUALA LUMPUR (Jan 30): The FBM KLCI ended in positive territory on late bargain-hunting, with support in the broader market primarily seen for small-cap energy as well as transportation and logistics stocks. At 5pm on Monday (Jan 30), the benchmark index had gained 1.84 points to 1,499.39, from last Friday's close at 1,497.55. The key index opened 2.20 points higher at 1,499.75, and moved between 1,494.15 and 1,500.95 throughout the day. On the broader market, gainers outpaced losers 478 to 472, while 395 counters were unchanged, 873 untraded, and 54 others suspended. Turnover slipped to 4.56 billion units worth RM2.44 billion, against last Friday's 4.62 billion units worth RM2.42 billion. Commenting on Monday's market performance, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the market bellwether was again stuck in tight consolidation mode due to a lack of fre...

Market Daily Report: Bursa ends mixed

KUALA LUMPUR (Jan 27): Bursa Malaysia ended mixed on Friday (Jan 27) with the barometer index declining for three straight days during the holiday-shortened week, bucking the strong performance of key regional bourses, said a dealer. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.84 of-a-point to 1,497.55 from Thursday’s close of 1,498.39. The market bellwether opened 1.58 points higher at 1,499.97 and moved between 1,493.07 and 1,500.91 throughout the session. However, on the broader market, gainers outpaced losers 542 to 385, while 403 counters were unchanged, 917 untraded and 49 others suspended Turnover rose to 4.62 billion units worth RM2.42 billion against Thursday's 3.75 billion units worth RM2.03 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama the local bourse was stuck in a consolidation mode for the holiday-shortened week as sentiments were still cautious from the lack of buying catalysts despite...

Market Daily Report: Bursa extends Wednesday's losses to end lower

KUALA LUMPUR (Jan 26): Bursa Malaysia extended Wednesday's (Jan 25) losses to end lower, weighed down by selling in selected heavyweights, led by the financial services sector, said a dealer. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.06 points to end at its intraday high of 1,498.39 from Wednesday’s closing of 1,499.45. The market bellwether opened 2.04 points lower at 1,497.41 and hit a low of 1,494.03 during the mid-morning session. However, on the broader market, gainers outpaced losers 565 to 359, while 431 counters were unchanged, 875 untraded and 37 others suspended. Turnover rose to 3.75 billion units worth RM2.03 billion against Wednesday's 2.83 billion units worth RM1.68 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama that the FBM KLCI continued to decline despite the strong regional performance. Nonetheless, gainers outnumbered losers, indicating some positive sentiment on the broad mark...

Market Daily Report: Bursa bucks regional trend to end marginally lower

KUALA LUMPUR (Jan 25): Bursa Malaysia bucked the regional trend to end marginally lower after the long holiday weekend amid profit-taking in selected heavyweights, said a dealer. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.88 of-a-point to 1,499.45 from last Friday’s closing of 1,500.33. The market bellwether opened 0.97 of-a-point better at 1,501.3 and moved between 1,494.73 and 1,501.86 throughout the session. However, market breadth was positive with gainers outpacing losers 578 to 262, while 399 counters were unchanged, 957 untraded, and nine others suspended Turnover rose to 2.83 billion units worth RM1.68 billion against last Friday's 2.34 billion units worth RM1.71 billion. A dealer said the local bourse opened marginally higher on Wednesday in cautious trading mode before descending into the negative territory at mid-morning on profit-taking.

Market Daily Report: Bursa ends higher on late buying, KLCI breaches 1,500 key level

KUALA LUMPUR (Jan 20): Late buying in telecommunications and media as well as financial services counters lifted Bursa Malaysia to end at its intraday high on Friday (Jan 20), breaking the 1,500 psychological level last seen in November last year, said a dealer. The FTSE Bursa Malaysia KLCI (FBM KLCI) last touched the 1,500 level at the close of the trading on Nov 24, 2022 at 1,501.88. At 5pm on Friday, the benchmark FBM KLCI gained 4.11 points, or 0.27%, to 1,500.33 from Thursday’s closing of 1,496.22. The market bellwether opened 0.66 of-a-point better at 1,496.88 and hit the day's low of 1,495.80 at the midday break. Market breadth was positive with gainers surpassing losers 501 to 304, while 428 counters were unchanged, 959 untraded, and 10 others suspended. Turnover slipped to 2.34 billion units worth RM1.71 billion against Thursday's 2.50 billion units worth RM1.90 billion. Maxis Bhd and CIMB Group Holdings Bhd were the top two gainers among the FBM KLCI cons...

Market Daily Report: Bursa closes slightly higher on positive sentiment

KUALA LUMPUR (Jan 19): Bursa Malaysia rebounded from Wednesday’s (Jan 18) losses to end slightly higher on Thursday, supported by positive local sentiment following Bank Negara Malaysia’s (BNM) decision to maintain the overnight policy rate (OPR), dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) grew 0.72 point, or 0.05%, to 1,496.22 from Wednesday’s closing of 1,495.5. The market bellwether opened 0.7 point lower at 1,494.8, and moved between 1,493.42 and 1,501.71 throughout the day. Market breadth was positive with gainers surpassing decliners 407 to 387, while 443 counters were unchanged, 955 untraded and 10 others suspended. Turnover dropped to 2.5 billion units worth RM1.9 billion against Wednesday's 2.7 billion units worth RM2.0 billion. Tenaga Nasional Bhd (TNB) and Maxis Bhd were the top two gainers among the FBM KLCI constituents. TNB climbed 11 sen to RM9.50 while Maxis rose seven sen to RM3.98, contributing a combined 1.97 points to ...

Market Daily Report: Bursa ends lower on continued selling

KUALA LUMPUR (Jan 18): Bursa Malaysia ended lower on Wednesday (Jan 18) on continued selling in selected industrial products and services, telecommunications and media counters despite regional markets closing mostly higher, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 3.88 points, or 0.26%, to 1,495.5 from Tuesday's closing of 1,499.38. The market bellwether opened 4.07 points lower at 1,495.31 and moved between 1,491.05 and 1,496.63 throughout the day. Market breadth was also negative with decliners surpassing gainers 423 to 387, while 432 counters were unchanged, 947 untraded, and 10 others suspended. Turnover dropped to 2.70 billion units worth RM2.0 billion against Tuesday's 2.82 billion units worth RM1.98 billion. DiGi.Com Bhd and Petronas Chemicals Group Bhd (PetChem) were the top two losers among the FBM KLCI constituents. DiGi.Com declined 10 sen to RM4.18 while PetChem fell 16 sen to RM8.46, contributing a combined 4.09...

Market Daily Report: Late buying lifts Bursa to end at intraday high

KUALA LUMPUR (Jan 17): Bursa Malaysia shook off earlier losses to end at its intraday high on Tuesday (Jan 17), lifted by late buying of selected telecommunications and media, as well as industrial products and services counters, dealers said. At 5pm, the benchmark FBM KLCI had risen 5.82 points or 0.39% to close at 1,499.38, just a whisker below the 1,500 psychological level, from Monday's closing at 1,493.56. The market bellwether opened 1.03 points weaker at 1,492.53, and hit a low of 1,488.95 in the early morning session. Market breadth also turned positive with gainers surpassing losers 423 to 417, while 432 counters were unchanged, 920 untraded, and 18 others suspended. Turnover decreased to 2.82 billion units worth RM1.98 billion, against Monday's 3.92 billion units worth RM2.03 billion. Digi.Com Bhd and Petronas Chemicals Group Bhd were the top two gainers among the KLCI constituents. Digi rose 13 sen to RM4.28 a sha...

Market Daily Report: Bursa ends marginally lower in lacklustre trading

KUALA LUMPUR (Jan 16): Bursa Malaysia ended marginally lower on Monday (Jan 16) in lacklustre trading, driven by persistent profit-taking against selected financial services and plantation counters, amid mixed sentiment on regional markets, dealers said. At 5pm, the benchmark FBM KLCI had slipped 1.47 points or 0.10% to 1,493.56, from last Friday's closing at 1,495.03. The market bellwether opened 0.22 of a point weaker at 1,494.81, and moved between 1,489.0 and 1,496.05 throughout the day. Market breadth was negative, with losers surpassing gainers 485 to 411, while 387 counters were unchanged, 919 untraded, and 28 others suspended. Turnover increased to 3.92 billion units worth RM2.03 billion, against last Friday's 3.40 billion units worth RM2.02 billion. Malayan Banking Bhd (Maybank) and Kuala Lumpur Kepong Bhd (KLK) were the top two losers among the KLCI constituents. Maybank declined eight sen to...

Market Daily Report: Bursa ends little changed on lack of catalysts

KUALA LUMPUR (Jan 12): Bursa Malaysia ended Thursday's (Jan 12) trading session little changed as investors seemed reluctant to make more significant moves due to the absence of buying catalysts amid a better regional market performance, said a dealer. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose marginally by 0.79 of-a-point or 0.05% to 1,488.66 from Wednesday's closing of 1,487.87. The market bellwether, which opened 0.7 of-a-point firmer at 1,488.57, moved at a narrow range between 1,486.15 and 1,491.35 throughout the day. Market breadth was negative with losers surpassing gainers 467 to 441, while 403 counters were unchanged, 891 untraded, and 12 others suspended. Turnover was unchanged at 3.57 billion units worth RM2.75 billion against Wednesday's 3.57 billion units worth RM2.17 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional indices closed mostly higher ahead of the release of the...

Market Daily Report: Bursa ends higher, lifted by energy, tech stocks

KUALA LUMPUR (Jan 11): Bursa Malaysia ended higher on Wednesday (Jan 11), lifted by buying interest in most heavyweights, led by energy and technology stocks, amid improving market sentiment across the region, said a dealer. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) put on 2.74 points or 0.18% to 1,487.87 from Tuesday's closing of 1,485.13.   The market bellwether opened 1.91 points better at 1,487.04 and moved between 1,484.21 and 1,489 throughout the trading day. Market breadth was positive with gainers outpacing losers 573 to 340, while 390 counters were unchanged, 898 untraded, and 10 others suspended. Turnover increased to 3.57 billion units worth RM2.17 billion against Tuesday's 3.19 billion units worth RM1.91 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional indices closed broadly higher, boosted by the upbeat performance on Wall Street overnight ahead of market-moving reports due later in the...

Market Daily Report: Bursa Malaysia ends lower amid regional market jitters

KUALA LUMPUR (Jan 10): Bursa Malaysia retreated from Monday’s gains to end lower ton Tuesday (Jan 10) due to profit-taking amid the jittery performance of the regional markets, as investors were cautious ahead of the speech by US Federal Reserve chairman Jerome Powell, scheduled for Tuesday, said a dealer. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 8.29 points or 0.55% to 1,485.13 from Monday's close of 1,493.42.    The market bellwether opened 3.02 points weaker at 1,490.40 and moved between 1,480.37 and 1,491.22 throughout the trading day.  Market breadth was also negative, with decliners outpacing advancers 472 to 368, while 436 counters were unchanged, 935 untraded, and 20 others suspended. Turnover increased marginally to 3.19 billion units worth RM1.91 billion, against Monday's 3.18 billion units worth RM1.92 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said despite some profit-taking on the ...

Market Daily Report: Bursa ends at intraday high

KUALA LUMPUR (Jan 9): Bursa Malaysia ended at an intraday high of 1,493.42 as the reopening of China's border has bolstered the outlook for global economy, with sustained buying interest seen in selected heavyweight counters led by transportation and logistics stocks, said a dealer. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) increased 12.87 points or 0.87% from Friday's close of 1,480.55.    The market bellwether opened 4.01 points stronger at 1,484.56. Market breadth also stayed positive with advancers outpacing decliners 589 to 377, while 358 counters were unchanged, 886 untraded, and 19 others suspended. Turnover added to 3.18 billion units worth RM1.92 billion against Friday's 3.16 billion units worth RM1.62 billion. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional indices also closed mostly higher following a positive cue from Wall Street last Friday. “Investors are expecting less aggressive US ra...

Market Daily Report: Bursa ends almost flat on first trading week of 2023

KUALA LUMPUR (Jan 6): Bursa Malaysia pared most of its earlier losses to end marginally lower on the first trading week of this year on lack of positive catalysts, amid a mixed performance on regional bourses. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.38 of-a-point to 1,480.55 from Thursday's closing of 1,480.93. The market bellwether opened 1.4 points lower at 1,479.53 and moved between 1,474.48 and 1,482.39 throughout the day. Market breadth was negative with decliners outpacing advancers 452 to 383, while 408 counters were unchanged, 967 untraded, and nine others suspended. Turnover eased to 3.16 billion units worth RM1.62 billion against Thursday's 3.31 billion units worth RM1.96 billion. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the benchmark index is trading at around 13 times the price-earnings ratio as compared with its five-year average of around 18 times, hence it still offers potential upsides...

Market Daily Report: Bursa snaps two-day losing streak, KLCI up 0.77%

KUALA LUMPUR (Jan 5): Bursa Malaysia snapped two consecutive days of losses to end higher on Thursday (Jan 5) with the key index rising by 0.77% on bargain-hunting activities. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 11.38 points or 0.77% to 1,480.93 from Wednesday's closing of 1,469.55. The market bellwether opened 2.91 points higher at 1,472.46 and moved between 1,471.91 and 1,481.01 throughout the day. Market breadth was positive with advancers leading decliners 479 to 418, while 404 counters were unchanged, 908 untraded, and nine others suspended. Turnover increased to 3.31 billion units worth RM1.96 billion from Wednesday's 3.24 billion units worth RM1.71 billion. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the reopening of China’s borders has boosted investor sentiment as it will stimulate tourism and consumption, while at the same time, be able to mitigate the regional supply chain problem. "...

Market Daily Report: Bursa ends lower

KUALA LUMPUR (Jan 4): Bursa Malaysia ended lower on Wednesday (Jan 4) on a lack of catalysts, in line with most key regional markets. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased by 4.44 points to 1,469.55 from Tuesday's closing of 1,473.99. The market bellwether opened 1.14 points lower at 1,472.85. Regionally, Singapore's Straits Times Index eased 0.1% to 3,242.46, and Japan's Nikkei 225 Index trimmed 1.45% to 25,716.86, while Hong Kong's Hang Seng Index jumped 3.22% to 20,793.11. Rakuten Trade Sdn Bhd vice president of Equity Research Thong Pak Leng said despite the heightened volatility in regional markets, he believes that bargain hunting will emerge due to cheap valuations and improving corporate earnings. “As such, we see the benchmark index to trend within the 1,465-1,485 range for the remainder of the week," he told Bernama . Further details on the market movement on Wednesday could not be disclosed at the time of writ...

Market Daily Report: Bursa ends lower, KLCI dips 1.44%

KUALA LUMPUR (Jan 3): Bursa Malaysia ended the first trading day in 2023 lower with the key index falling 1.44% on profit-taking due to recent gains. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 21.5 points to 1,473.99 from last Friday's closing of 1,495.49. The market bellwether opened 6.95 points lower at 1,488.54 and moved between 1,473.8 and 1,488.54 throughout the day. The market was closed on Monday as a replacement holiday for New Year's Day, which fell on Sunday. Turnover increased to 3.72 billion units worth RM1.47 billion from last Friday's 2.43 billion units worth RM2.51 billion. Rakuten Trade Sdn Bhd believed that the outlook for the local bourse remained positive due to attractive valuations and continuous support from local institutions, despite profit-taking activities on Tuesday, said its vice president of equity research Thong Pak Leng. "We view the profit-taking activities today as a good opportunity to bargain h...