Market Daily Report: Bursa ends mixed, KLCI down on profit-taking

KUALA LUMPUR (March 31): Bursa Malaysia's main index ended the week on a negative note on Friday (March 31), after failing to sustain earlier session gains, as investors booked profit following the recent advance.

At 5pm, the FBM KLCI had lost 2.02 points to 1,422.59, from Thursday's close at 1,424.61.

The main index, which opened 0.18 of a point higher at 1,424.79, oscillated between an intraday low of 1,421.36 and an intraday high of 1,429.48.

Market breadth remained positive, as gainers beat decliners 439 to 407, while 427 counters were unchanged, 1,003 untraded, and 73 others suspended.

Turnover narrowed to 3.27 billion units worth RM1.76 billion, versus Thursday's 3.31 billion units worth RM1.63 billion.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the market ended easier despite key regional indices being mostly higher, taking their positive cue from Wall Street and European markets.

Market Daily Report: Bursa in positive territory, boosted by PetChem

KUALA LUMPUR (March 30): Bursa Malaysia recovered losses to finish higher on Thursday (March 30), boosted mainly by Petronas Chemicals Group Bhd (PetChem).

Overall, mild bargain hunting can be seen across sectors except for healthcare, consumer, telecommunications and construction.

At 5pm, the FBM KLCI had gained 4.26 points to 1,424.61, from Wednesday's close at 1,420.35.

The main index opened 2.54 points lower at 1,417.81, and moved between 1,415.10 and 1,425.37 throughout the day.

Market breadth was positive, as gainers beat decliners at 479 to 381, while 395 counters were unchanged, 1,036 untraded, and 75 others suspended.

Turnover, however, was lower at 3.31 billion units worth RM1.63 billion, versus Wednesday's 3.42 billion units worth RM1.74 billion.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said he expects the short-term outlook of the local market to be positive, given the overall improving sentiment, both regional and globally.

“Furthermore, we reckon that the local market would remain in an oversold position, hence we anticipate the KLCI to trend higher within the 1,420-1,435 range towards the weekend,” Thong told Bernama.

Market Daily Report: KLCI closes 0.9% higher on improved risk sentiment, bargain hunting for heavyweights led by Press Metal, PetChem

KUALA LUMPUR (March 28): Improved risk sentiment and bargain hunting for heavyweights led by Press Metal Aluminium Holdings Bhd and Petronas Chemicals Group Bhd (PetChem) saw Bursa Malaysia’s main index gaining 0.9% at the close on Tuesday (March 28).

At 5pm, the FBM KLCI had advanced 12.49 points, or 0.89%, to 1,409.09, compared with Monday's close at 1,396.60.

The market bellwether, which opened five points higher at 1,401.60, moved between 1,398.42 and 1,409.23 throughout the day.

Market breadth remained mixed, with decliners leading gainers by 416 to 410, while 430 counters were unchanged, 1,040 untraded, and 24 others suspended.

Turnover shrank to 2.83 billion units worth RM1.51 billion, from Monday's 3.37 billion units valued at RM1.72 billion.

Market Daily Report: KLCI closes 0.9% higher on improved risk sentiment, bargain hunting for heavyweights led by Press Metal, PetChem

KUALA LUMPUR (March 28): Improved risk sentiment and bargain hunting for heavyweights led by Press Metal Aluminium Holdings Bhd and Petronas Chemicals Group Bhd (PetChem) saw Bursa Malaysia’s main index gaining 0.9% at the close on Tuesday (March 28).

At 5pm, the FBM KLCI had advanced 12.49 points, or 0.89%, to 1,409.09, compared with Monday's close at 1,396.60.

The market bellwether, which opened five points higher at 1,401.60, moved between 1,398.42 and 1,409.23 throughout the day.

Market Daily Report: Bursa ends below 1,400-point mark amid global banking sector woes

KUALA LUMPUR (March 27): Bursa Malaysia struggled to stay above the 1,400-point level on Monday (March 27) amid global banking sector woes.

At 5pm, the FBM KLCI had lost 3.10 points, or 0.22%, to end at its intraday low of 1,396.60, compared with last Friday's close at 1,399.70.

The market bellwether opened 1.25 points higher at 1,400.95, and hit its intraday high of 1,404.65 in the early morning session.

Market Daily Report: KLCI dips 0.8%, ends at intraday low below 1,400-point level

KUALA LUMPUR (March 24): Bursa Malaysia ended the week lower in line with regional markets on Friday (March 24), as investors remained wary that the global banking crisis could worsen, despite the assurance from US Treasury Secretary Janet Yellen to keep deposits safe at banks, said an analyst.

The weaker sentiment on the local bourse prompted the key index to fall 0.80% to below the 1,400-point level.

At 5pm on Friday, the benchmark FBM KLCI had fallen 11.28 points to 1,399.70, which was the day’s low, from Thursday's close at 1,410.98.   

The market bellwether opened 0.15 of a point higher at 1,411.13, and hit an intraday high of 1,411.67 in the early session. 

On the broader market, decliners led gainers 496 to 339, while 440 counters were unchanged, 998 untraded, and 11 others suspended.

Turnover fell to 2.99 billion units worth RM1.91 billion, from Thursday's 3.26 billion units worth RM2.03 billion. 

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the recent banking crisis in the US and Europe had very little impact on Malaysia, as the local banking system is highly regulated, whereby asset quality risks are well contained.

"However, due to uncertain global and regional conditions, we expect short-term market sentiment to remain nervous,” he said in a note on Friday.

Regionally, Singapore's Straits Times Index slid 0.20% to 3,212.64, Hong Kong's Hang Seng Index decreased 0.67% to 19,915.68, Japan's Nikkei 225 eased 0.13% to 27,385.25, and China's SSE Composite Index slipped 0.64% to 3,265.65. 

Among Bursa heavyweights, MISC Bhd increased three sen to RM7.19 a share, Malayan Banking Bhd (Maybank) depreciated six sen to RM8.43, Public Bank Bhd shed five sen to RM3.90, while CIMB Group Holdings Bhd at RM5.19 and Tenaga Nasional Bhd at RM9.54 had slipped two sen each.

Among the actives, Dagang NeXchange Bhd went up three sen to 59 sen, AT Systematization Bhd was flat at one sen, Revenue Group Bhd declined 2.5 sen to 27.5 sen, Computer Forms (Malaysia) Bhd sank 7.5 sen to 27.5 sen, and Top Glove Corp Bhd slid 6.5 sen to 95.5 sen.

On the index board, the FBM Emas Index lost 78.87 points to 10,258.18, the FBMT 100 Index decreased 77.34 points to 9,951.83, and the FBM 70 Index declined 91.46 points to 13,297.72.

The FBM Emas Shariah Index went down 71.33 points to 10,599.21, and the FBM ACE Index dropped 10.83 points to 5,303.82.    

Sector-wise, the Financial Services Index dipped 116.63 points to 15,449.52, the Energy Index fell 8.37 points to 802.88, the Plantation Index shaved off 55.58 points to 6,713.93, and the Industrial Products and Services Index gave up 1.63 points to 165.54.     

The Main Market volume dwindled to 1.89 billion shares worth RM1.64 billion, against 2.28 billion shares worth RM1.76 billion on Thursday.   

Warrant turnover narrowed to 415.85 million units worth RM51.81 million, from 433.61 million units worth RM73.54 million.

The ACE Market volume expanded to 676.06 million shares worth RM216.94 million, from 546.78 million shares worth RM189.56 million previously.     

Consumer product and service counters accounted for 245.12 million shares traded on the Main Market, followed by industrial products and services (432.20 million), construction (39.84 million), technology (440.29 million), special purpose acquisition companies (nil), financial services (80.36 million), property (133.95 million), plantation (31.56 million), real estate investment trusts (7.05 million), closed/funds (900), energy (915.03 million), healthcare (280.27 million), telecommunications and media (61.95 million), transportation and logistics (25.19 million), and utilities (22.54 million). 

Source: The Edge

Market Daily Report: Bursa pares earlier losses to end marginally lower

KUALA LUMPUR (March 23): Bursa Malaysia pared most of its earlier losses to close marginally lower by 0.08% on Thursday (March 23), weighed by financial services stocks amid weak market sentiment.

Banking counters Public Bank Bhd declined five sen to RM3.95 a share, and Malayan Banking Bhd (Maybank) shed six sen to RM8.49. Both counters contributed 2.81 points to the key index's fall at the close on Thursday.

At 5pm, the benchmark FBM KLCI had fallen 1.06 points to 1,410.98, which was the day’s high, from Wednesday's close at 1,412.04.

The market bellwether opened 5.07 points easier at 1,406.97, and hit an intraday low of 1,403.55.

On the broader market, decliners leading gainers 434 to 468, while 407 counters were unchanged, 964 untraded and seven others suspended.

Turnover rose to 3.26 billion units worth RM2.03 billion, from Wednesday's 3.12 billion units worth RM1.89 billion.  

Market Daily Report: Bursa ends higher on better market sentiment

KUALA LUMPUR (March 22): Bursa Malaysia ended higher on Wednesday (March 22), in line with regional markets amid improving market sentiment globally, and ahead of the US Federal Reserve’s (Fed) decision on interest rates later in the day.

At 5pm, the benchmark FBM KLCI had risen 5.49 points, or 0.39%, to 1,412.04, from Tuesday’s close at 1,406.55.

The market bellwether opened 2.05 points higher at 1,408.60, and moved between 1,406.51 and 1,413.52 throughout the day.

Market breadth was positive, with gainers leading decliners 497 to 377, while 408 counters were unchanged, 991 untraded, and seven others suspended.

Turnover eased to 3.12 billion units worth RM1.89 billion, from Tuesday’s 3.23 billion units worth RM1.85 billion. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng expects the local bourse to remain cautious due to uncertainties globally, especially the outlook on monetary policy.

Market Daily Report: Bargain hunting lifts Bursa to end marginally higher

KUALA LUMPUR (March 21): Bursa Malaysia ended marginally higher on Tuesday (March 21) on bargain hunting in selective heavyweights and in line with most regional markets.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.74 points, or 0.34%, to 1,406.55 from Monday’s close of 1,401.81.    

The market bellwether opened 5.35 points higher at 1,407.16 and moved between 1,403.96 and 1,412.81 throughout the day.

Market breadth was positive with gainers leading decliners 483 to 367, while 394 counters were unchanged, 1,010 untraded and seven others suspended.

Turnover eased to 3.23 billion units worth RM1.85 billion against Monday’s 3.47 billion units worth RM1.93 billion.

“Despite the improvement in global market sentiment, we prefer to stay cautious as we reckon market volatility would stay high in the near term although the benchmark index remained in oversold position,” Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama.

Market Daily Report: Bursa ends lower in line with regional peers

KUALA LUMPUR (March 20): Bursa Malaysia ended trading lower on Monday (March 20) in tandem with the heavy selldown in regional bourses as investors were wary following the sudden burst of turmoil in the global banking sector, said an analyst.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 9.92 points, or 0.7%, to 1,401.81 from last Friday’s close of 1,411.73.

The market bellwether opened 3.55 points easier at 1,408.18 and moved between 1,400.49 and 1,408.52 throughout the day.

Market Daily Report: Bursa ends sharply higher as fears over global banking crisis ease

KUALA LUMPUR (March 17): Bursa Malaysia rebounded and ended sharply higher on Friday (March 17), in tandem with the recovery across regional markets as worries over a global banking crisis receded, said an analyst.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 20.13 points, or 1.45%, to 1,411.73 from Thursday's close of 1,391.6.

The market bellwether opened 5.68 points better at 1,397.28 and moved between 1,397.23 and 1,416.92 throughout the day.

Market breadth was positive with gainers thumping decliners 711 to 244 while 349 counters were unchanged, 961 untraded and 27 others suspended.

Turnover amounted to 4.43 billion units worth RM4.09 billion.

Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the FBM KLCI staged a strong rally on Friday, taking the cue from a rebound on Wall Street after major US banks pledged to inject US$30 billion (RM135 billion) in liquidity to rescue First Republic Bank.

"Meanwhile, RAM Ratings reassured that Malaysian banks' ratings remain intact given that the domestic banking system's exposure to bond securities is relatively low at less than 25% compared to Silicon Valley Bank at more than 50% exposure to bond securities," he told Bernama.

Echoing Leong, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said reports of major US banks collaborating to rescue First Republic Bank has boosted confidence in the US banking system.

Among the heavyweight stocks, Malayan Banking Bhd added 12 sen to RM8.38, Public Bank Bhd advanced four sen to RM3.97 and Petronas Chemicals Group Bhd surged 24 sen to RM7.23.

CIMB Group Holdings Bhd climbed seven sen to RM5.22 and Tenaga Nasional Bhd improved 20 sen to RM9.55.

Among the actives, Top Glove Corp Bhd rallied eight sen to 91.5 sen, Capital A Bhd jumped 5.5 sen to 83 sen, and Zen Tech International Bhd grew by one sen to three sen.

Minda Global Bhd garnered three sen to 14.5 sen and SMRT Holdings Bhd shaved off 5.5 sen to 51 sen.

Source: The Edge

Market Daily Report: Bursa ends lower, in line with regional peers

KUALA LUMPUR (March 16): Bursa Malaysia retreated from Wednesday's gains to end lower on Thursday (March 16), in tandem with the weaker regional market performance, following a large-scale selldown of global equities overnight, said an analyst. 

At 5pm, the benchmark FBM KLCI had fallen 12.33 points, or 0.88%, to 1,391.60, from Wednesday's close at 1,403.93.

The key index opened 3.11 points lower at 1,400.82, and moved between 1,391.04 and 1,403.93 throughout the day.

Market breadth was negative, with decliners thumping gainers 719 to 238, while 341 counters were unchanged, 969 untraded, and 21 others suspended.

Turnover amounted to 3.52 billion units worth RM2.22 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Wall Street fell overnight, as Credit Suisse Group AG shares sank, reigniting worries about a possible global banking crisis. 

Investors were also uncertain about the US Federal Reserve's action with regard to interest rates, he added.

"As for the local bourse, we believe that the sell-off was unwarranted, as the Malaysian banking system is highly regulated and has well-contained asset quality risks compared to the US.

"However, due to the uncertain global and regional conditions, we expect short-term market sentiment to remain nervous," he told Bernama. 

Thong is anticipating that the KLCI would trend between 1,390 and 1,400 points towards the weekend.

Among the heavyweight stocks, Malayan Banking Bhd (Maybank) lost nine sen to RM8.26 a share, Public Bank Bhd dropped two sen to RM3.93, and Petronas Chemicals Group Bhd inched down one sen to RM6.99.

CIMB Group Holdings Bhd shed eight sen to RM5.15, and Tenaga Nasional Bhd weakened seven sen to RM9.35. 

Among the actives, Top Glove Corp Bhd rallied 13.5 sen to 83.5 sen, Zen Tech International Bhd edged up half a sen to two sen, and Careplus Group Bhd climbed 2.5 sen to 27 sen.

Hartalega Holdings Bhd surged 21 sen to RM1.78, and Sapura Energy Bhd trimmed half a sen to 4.5 sen.

On the index board, the FBM Emas Index gave up 80.20 points to 10,181.17, the FBMT 100 Index dropped 73.42 points to 9,878.14, and the FBM ACE Index lost 85.58 points to 5,190.77.

The FBM Emas Shariah Index went down 78.09 points to 10,481.27, and the FBM 70 Index contracted 37.51 points to 13,131.53.

Sector-wise, the Financial Services Index dropped 128.56 points to 15,353.89, the Energy Index lost 24.63 points to 813.37, and the Plantation Index decreased 40.93 points to 6,681.38.

The Industrial Products and Services Index eased 1.88 points to 167.68. 

The Main Market volume widened to 2.15 billion shares worth RM1.85 billion, from Wednesday's 2.04 billion shares worth RM1.63 billion.

Warrant turnover expanded to 511.37 million units worth RM76.38 million, from 373.03 million units worth RM59.59 million previously. 

The ACE Market volume rose to 865.90 million shares worth RM292.68 million, from 718.55 million shares worth RM646.99 million.

Consumer product and service counters accounted for 316.88 million shares traded on the Main Market, followed by industrial products and services (470.98 million), construction (47.72 million), technology (188.82 million), special purpose acquisition companies (nil), financial services (74.17 million), property (86.38 million), plantation (25.92 million), real estate investment trusts (4.47 million), closed/funds (2,000), energy (400.54 million), healthcare (436.63 million), telecommunications and media (35.06 million), transportation and logistics (33.91 million), and utilities (23.64 million).

Source: The Edge

Market Daily Report: Bursa snaps five-day losing streak, KLCI up 0.72%

KUALA LUMPUR (March 15): Bursa Malaysia rebounded on Wednesday (March 15), snapping a five-day losing streak, as bargain-hunting activities emerged following the recent selldown, an analyst said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 10.1 points or 0.72% to 1,403.93 from Tuesday's close of 1,393.83.

The key index opened 6.27 points better at 1,400.1, and moved between 1,399.8 and 1,406.57 throughout the day.

Market breadth was positive with gainers thumping losers 604 to 289 while 383 counters were unchanged, 972 untraded and 10 others suspended.

Turnover amounted to 3.13 billion units worth RM2.34 billion.

Rakuten Trade Sdn Bhd’s vice-president of equity research Thong Pak Leng said the key regional indices also closed higher following the positive cues from global markets overnight.

He said investors speculated that the worst of the global fallout from the US banking crisis has passed as President Joe Biden pledged full deposit insurance in response to the aftermath of Silicon Valley Bank’s bankruptcy.

Market Daily Report: Bursa ends at intraday low, weighed by US bank crisis

KUALA LUMPUR (March 14): Bursa Malaysia ended lower for the fifth consecutive day on Tuesday (March 14) following mixed cues on Wall Street overnight as investors dealt with the fallout from failed banks in the US, including Silicon Valley Bank (SVB), said an analyst.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 28 points or 1.97% to 1,393.83 — an intraday low and a near five-month low.

The key index opened 4.87 points easier at 1,416.96 — its intraday high — and continued to slide throughout the day.

Market breadth was negative with losers outpacing gainers 878 to 180 while 296 counters were unchanged, 893 untraded and 11 others suspended.

Turnover amounted to 3.38 billion units worth RM2.50 billion.

UOB Kay Hian Securities (M) Sdn Bhd head of wealth research and advisory Mohd Sedek Jantan said the local bourse went through a volatile trading session, with the financial services index dropping 2.17% mainly due to a reaction from the SVB fallout.

"We expect Bursa Malaysia to remain volatile until the US Federal Reserve (Fed) makes a decision next week. Based on Fed chairman Jerome Powell's testimony and expectation that the upcoming February consumer price index may have cooled, we expect the Fed to raise rates by 50 basis points (bps).

"However, with the collapse of SVB, the Fed may reduce the rate hike (to 25 bps) or temporarily pause the rate hike. Markets are still digesting the broader backdrop of restrictive Fed policy and a softening economic and corporate earnings outlook, making equities more vulnerable to knee-jerk reactions to shocks like this," he told Bernama.

However, Mohd Sedek noted the crisis would not alter the economy or stock market's longer-term trajectory.

Ultimately, he believes investors are still waiting for economic paths to become clearer and expect equities to mount a more durable recovery as the year progresses.

Meanwhile, SPI Asset Management managing director Stephen Innes said financial institutions are struggling due to escalating tensions in the global financial world despite US Federal Deposit Insurance Corporation’s (FDIC) intervention to calm markets.

"The US financial stress could lead banks in Malaysia to retrench lending to the real economy and tighten broader financial conditions, the amplifying risk to the local economy. And now lower rate environment would likely hit domestic banks' profits.

Market Daily Report: Bursa ends lower amid global selldown

KUALA LUMPUR (March 13): Bursa Malaysia closed lower amid mixed sentiment in regional bourses following a heavy global selldown, a dealer said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 11.25 points or 0.79% to 1,421.83 from last Friday's close of 1,433.08.

The key index opened 13.66 points lower at 1,419.42 and moved between 1,409.93 and 1,423.66 throughout the trading session.

Market breadth was negative with losers outpacing gainers 702 to 254 while 340 counters were unchanged, 939 untraded and 23 others suspended.

Turnover amounted to 3.50 billion units worth RM2.15 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional markets were mixed as investors were concerned that the potential fallout from the implosions of Silicon Valley Bank and Silvergate Capital could trigger a wider sell-off in the global financial sector.

Market Daily Report: Bursa ends at intraday low, KLCI down 1.13%

KUALA LUMPUR (March 10): Bursa Malaysia ended at its intraday low on Friday (March 10), in tandem with the heavy selldown on most regional and global bourses.

At 5pm, the benchmark FBM KLCI had slipped by 16.45 points or 1.13% to 1,433.08, from Thursday's closing at 1,449.53.

The key index opened 3.73 points lower at 1,445.80, which was its intraday high, and continued to slide throughout the day.

Market breadth was negative, with losers outpacing gainers 694 to 239, while 368 counters were unchanged, 944 untraded, and 33 others suspended.

Turnover amounted to 2.73 billion units worth RM2.11 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional indices ended sharply lower, tracking similar declines on Wall Street, amid persistent worries about the risk of a global recession.

“US banking shares plunged after crypto banking giant Silvergate plans to shut down in the face of cryptocurrency market turmoil,” he told Bernama.

Market Daily Report: Bursa ends on softer note despite OPR status quo

 

KUALA LUMPUR (March 9): Bursa Malaysia closed on a softer note despite Bank Negara Malaysia’s (BNM) decision to retain the overnight policy rate (OPR) on Thursday (March 9), as investors remained wary of interest rate hikes in the US and risk of a recession on the global scale.

At 5pm, the benchmark FBM KLCI had slipped 5.13 points to 1,449.53, from Wednesday's closing at 1,454.66.

The key index opened 0.16 of a point higher at 1,454.82, and moved between 1,448.45 and 1,455.12 throughout the day.

Market breadth was negative, with losers leading gainers 451 to 402, while 406 counters were unchanged, 984 untraded, and 11 others suspended.

Turnover amounted to 2.66 billion units worth RM1.94 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI continued to trend lower after a lacklustre trading session with key regional markets mostly in negative territory.

However, back home, he reckoned that market sentiment should improve slightly as BNM maintained the OPR at 2.75%.

The central bank kept the key rate unchanged at 2.75% for a second consecutive time after making a cumulative 100-basis-point hike since May 2022.

“On the other hand, investors should stay alert on increasing market volatility and external uncertainties.

“As such, we expect the KLCI to trend sideways with an upside bias within the 1,450-1,470 level towards the weekend,” he told Bernama.

Bursa heavyweight Sime Darby Plantation Bhd declined 17 sen to RM4.30, Press Metal Aluminium Holdings Bhd shed one sen to RM5.10, IOI Corp Bhd decreased seven sen to RM3.89, while Maxis Bhd added three sen to RM4.02.

The Financial Services Index, meanwhile, rose 8.44 points to 16,114.00. Among banking stocks, Malayan Banking Bhd (Maybank) rose four sen to RM8.71, Public Bank Bhd increased two sen to RM4.13, CIMB Group Holdings Bhd decreased seven sen to RM5.50, and Hong Leong Bank Bhd eased four sen to RM20.52.

As for the active counters, Astro Malaysia Holdings Bhd shed six sen to 67 sen, VinVest Capital Holdings Bhd was flat at 22.5 sen, Top Glove Corp Bhd increased four sen to 71.5 sen, while Careplus Group Bhd at 26 sen and BSL Corp Bhd at 13 sen had risen 1.5 sen each.

On the index board, the FBM Emas Index fell 33.24 points to 10,572.51, the FBMT 100 Index dwindled 34.09 points to 10,249.25, the FBM Emas Shariah Index trimmed 48.60 points to 10,810.18, the FBM ACE Index was 8.96 points lower at 5,446.60, and the FBM 70 Index gave up 35.29 points to 13,453.67.

Sector-wise, the Energy Index declined 7.51 points to 883.09, the Plantation Index sank 109.50 points to 6,829.93, and the Industrial Products and Services Index eased 1.39 points to 175.83.

The Main Market volume shrank to 1.74 billion shares worth RM1.64 billion, from Wednesday's 2.81 billion shares worth RM1.97 billion.

Warrant turnover dipped to 247.91 million units worth RM39.35 million, from 355.55 million units worth RM61.35 million previously. 

The ACE Market volume expanded to 668.78 million shares worth RM261.42 million, from 590.55 million shares worth RM255.46 million.

Consumer product and service counters accounted for 252.53 million shares traded on the Main Market, followed by industrial products and services (431.43 million), construction (66.38 million), technology (191.32 million), special purpose acquisition companies (nil), financial services (51.78 million), property (99.45 million), plantation (31.22 million), real estate investment trusts (9.97 million), closed/funds (4,700), energy (106.86 million), healthcare (245.00 million), telecommunications and media (119.55 million), transportation and logistics (30.08 million), and utilities (113.07 million).

Source: The Edge

Market Daily Report: Bursa ends higher on bargain hunting

KUALA LUMPUR (March 7): Bursa Malaysia rebounded on Tuesday (March 7) to end higher after the key index recorded two straight days of meagre losses as bargain-hunting activities emerged, amid the upbeat performance in most regional peers.  

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.99 points or 0.41% to 1,458.67 from Monday’s closing of 1,452.68.

The market bellwether opened 1.29 points better at 1,453.97 and moved between 1,452.64 and 1,461.42 throughout the trading session.

However, on the broader market, decliners beat gainers 454 to 409, while 408 counters were unchanged, 959 untraded and 11 others suspended.

Turnover rose to 2.97 billion units worth RM1.89 billion from Monday's close of 2.84 billion units worth RM1.79 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional indices were mostly in positive territory as investors took positions ahead of the US Federal Reserve Chair Jerome Powell’s congressional testimony on Tuesday and Wednesday, which will inform of the central bank’s next moves on its rate hiking decision.

“On the domestic front, we expect investor sentiment to remain cautious ahead of Bank Negara Malaysia's Monetary Policy Committee meeting over the next two days.

“Hence we anticipate the FBM KLCI to remain in sideways pattern within the range of 1,450 to 1,470 for the remainder of the week, with immediate resistance at 1,490 and support at 1,440,” he told Bernama.

Region-wise, Singapore's Straits Times Index climbed 0.18% to 3,245.27, Japan’s Nikkei 225 rose 0.25% to 28,309.16, while South Korea’s Kospi inched up 0.03% to 2,463.35.

However, China’s SSE Composite Index fell 1.11% to 3,285.1 and Hong Kong's Hang Seng Index shed 0.33% to 20,534.48.

At home, heavyweights, Sime Darby Plantation Bhd gained 21 sen to RM4.51, Press Metal Aluminium Holdings Bhd perked up six sen to RM5.21, Public Bank Bhd increased three sen to RM4.13, IOI Corp Bhd improved eight sen to RM3.98, and Dialog Group Bhd put on nine sen to RM2.40.

Market Daily Report: Bursa ends higher on bargain hunting

KUALA LUMPUR (March 7): Bursa Malaysia rebounded on Tuesday (March 7) to end higher after the key index recorded two straight days of meagre losses as bargain-hunting activities emerged, amid the upbeat performance in most regional peers.  

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.99 points or 0.41% to 1,458.67 from Monday’s closing of 1,452.68.

The market bellwether opened 1.29 points better at 1,453.97 and moved between 1,452.64 and 1,461.42 throughout the trading session.

However, on the broader market, decliners beat gainers 454 to 409, while 408 counters were unchanged, 959 untraded and 11 others suspended.

Turnover rose to 2.97 billion units worth RM1.89 billion from Monday's close of 2.84 billion units worth RM1.79 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional indices were mostly in positive territory as investors took positions ahead of the US Federal Reserve Chair Jerome Powell’s congressional testimony on Tuesday and Wednesday, which will inform of the central bank’s next moves on its rate hiking decision.

“On the domestic front, we expect investor sentiment to remain cautious ahead of Bank Negara Malaysia's Monetary Policy Committee meeting over the next two days.

“Hence we anticipate the FBM KLCI to remain in sideways pattern within the range of 1,450 to 1,470 for the remainder of the week, with immediate resistance at 1,490 and support at 1,440,” he told Bernama.

Market Daily Report: KLCI closes marginally lower due to last-minute selling

KUALA LUMPUR (March 6): Bursa Malaysia bucked the regional trend to end slightly lower on Monday (March 6), dragged down by last-minute selling of selected heavyweight stocks.

At 5pm, the benchmark FBM KLCI had eased 0.87 of a point to 1,452.68, from last Friday’s closing at 1,453.55.

The key index opened 5.22 points better at 1,458.77, and moved between 1,452.12 to 1,460.98 during the day.

However, market breadth was positive, with advancers outpacing decliners 465 to 380, while 415 counters were unchanged, 959 untraded, and 11 others suspended.

Turnover rose to 2.84 billion units worth RM1.79 billion, from last Friday's close at 2.69 billion units worth RM1.89 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI closed flattish after a bumpy trading day as investors were cautious ahead of Bank Negara Malaysia's Monetary Policy Committee meeting on Wednesday and Thursday. Thus, he reckoned that the indices would remain in the consolidation phase over the short term.

“Key regional indices were mostly in positive territory, following a positive cue from global equities last Friday, amid easing concerns about interest rates following recent comments from US Federal Reserve officials and the latest economic data.

“As such, we see the KLCI trending sideways with an upside bias within the 1,450-1,470 range for this week. Technically, we spot the immediate resistance at 1,460, with support at 1,440,” he told Bernama.

Region-wise, Hong Kong's Hang Seng Index added 0.17% to 20,603.19, Singapore's Straits Times Index pushed up 0.29% to 3,241.30, while Japan’s Nikkei 225 rose 1.11% to 28,237.78, and South Korea’s Kospi gained 1.26% to 2,462.62.

Among heavyweight counters at home, Malayan Banking Bhd (Maybank) declined two sen to RM8.69 a share, Public Bank Bhd was down four sen to RM4.10, Tenaga Nasional Bhd lost six sen to RM9.34, Petronas Chemicals Group Bhd went up four sen to RM7.30, while CIMB Group Holdings Bhd was flat at RM5.59.

Among the active stocks, Minda Global Bhd advanced 4.5 sen to 13 sen, Velesto Energy Bhd added 2.5 sen to 24 sen, MyEG Services Bhd gained 1.5 sen to 75 sen, while Saudee Group Bhd at four sen and Vinvest Capital Holdings Bhd at 23 sen were both flat.

On the index board, the FBM Emas Index gained 10.54 points to 10,598.97, the FBM 70 Index garnered 60.42 points to 13,507.03, and the FBM ACE Index grew 50.55 points to 5,477.28.

The FBMT 100 Index advanced 6.08 points to 10,275.84, and the FBM Emas Shariah Index gained 39.42 points to 10,853.46.

Sector-wise, the Plantation Index jumped 48.18 points to 6,879.18, the Energy Index earned 18.22 points to 889.95, and the Industrial Products and Services Index inched up 0.50 of a point to 178.15.

Market Daily Report: Bursa ends mixed as consolidation phase continues

KUALA LUMPUR (March 3): Bursa Malaysia ended mixed on Friday (March 3) as the market is stuck in a consolidation mode with investor sentiment remaining cautious on lack of buying catalysts domestically, amid concerns over a rate hike by the US Federal Reserve.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.94 points to 1,453.55 from Thursday’s closing of 1,455.49.

The index opened 2.29 points higher at 1,457.78 and hovered in a tight range of 1,452.62 to 1,457.78.

Market breadth was positive with advancers outpacing decliners 520 to 338, while 429 counters were unchanged, 937 untraded, and 12 others suspended.

Turnover rose to 2.69 billion units worth RM1.89 billion from Thursday's 2.50 billion units worth RM1.77 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the upbeat key regional indices were sparked by another bullish survey showing a sharp recovery in China services, but this provided little boost to local sentiment as fears of a US rate hike continues to dominate.

Market Daily Report: KLCI snaps six-day losing streak on bargain hunting

KUALA LUMPUR (March 2): Bursa Malaysia’s main index ended in positive territory on Thursday (March 2), after being in the red for six consecutive days, thanks to a boost from bargain-hunting activities.

At 5pm, the benchmark FBM KLCI had climbed 5.29 points to 1,455.49, bolstered mainly by IHH Healthcare Bhd, Axiata Group Bhd and Tenaga Nasional Bhd (TNB).

The index opened 1.14 points higher at 1,451.34, compared with Wednesday’s closing at 1,450.20. 

However, market breadth remained negative, with decliners outpacing advancers 506 to 365, while 415 counters were unchanged, 927 untraded and 23 others suspended.

Turnover dipped to 2.50 billion units worth RM1.77 billion, from Wednesday's 3.21 billion units worth RM2.04 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI managed to rebound due to bargain-hunting activities, despite key regional markets closing mostly lower, following the unconvincing performance of global equities overnight.

‘’We reckon sentiment will remain cautious, hence we anticipate the KLCI to move sideways, with an upside bias towards the weekend,’’ he told Bernama. 

He said investors are awaiting Bank Negara Malaysia's (BNM) Monetary Policy Committee meeting next week on the direction of the overnight policy rate (OPR).

“For now, we are betting that BNM may refrain from hiking the OPR before the US Federal Reserve meeting on March 21 and 22,” he added.

Among local heavyweight counters, IHH jumped 18 sen to RM5.89, Axiata added eight sen to RM3.21, TNB was 12 sen better at RM9.40, and CelcomDigi Bhd rose five sen to RM4.30.

Petronas Chemicals Group Bhd went up seven sen to RM7.27, and Petronas Dagangan Bhd was 46 sen higher at RM21.10.

Boustead Holdings Bhd, which was suspended pending the announcement of a conditional voluntary takeover offer by Lembaga Tabung Angkatan Tentera (LTAT), will resume trading at 9am on Friday.

Market Daily Report: Bursa goes down at the close, bucking regional trend

KUALA LUMPUR (March 1): Bursa Malaysia slipped again on Wednesday (March 1) as buying interest remained tepid, with the cautious mood persisting, despite improved sentiment across the region.

At 5pm, the benchmark FBM KLCI had retreated 3.99 points to 1,450.20, from Tuesday’s closing at 1,454.19. 

The index opened 0.19 point higher at 1,454.38.

Market breadth was negative, with decliners outpacing advancers 528 to 436, while 358 counters were unchanged, 881 untraded, and 20 others suspended.

Turnover dipped to 3.21 billion units worth RM2.04 billion, from Tuesday's 4.63 billion units worth RM3.95 billion.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said positive Chinese factory activity data failed to boost the overall market performance, as domestic sentiment remained cautious.

Meanwhile, regional bourses ended mostly higher, particularly in China and Hong Kong, after the manufacturing purchasing managers index rose to 52.6 in February for the highest reading since April 2012.