MONEY MASTER

KUALA LUMPUR (June 30): Bursa Malaysia gave up modest gains earlier to close broadly lower on Friday (June 30) on persistent selling in selected heavyweights led by telecommunications and media as well as financial services counters. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 11.69 points, or 0.84%, to 1,376.68 from 1,388.37 at Wednesday’s close. The key index opened 0.15 of a point firmer at 1,388.52 on Friday morning and moved between 1,370.15 and 1,391.48 throughout the session. The broader market was also negative as losers thumped gainers 506 to 348, while 393 counters were unchanged, 1,077 untraded and 96 others suspended. Turnover narrowed to 2.65 billion units worth RM2.03 billion versus 2.82 billion units worth RM1.49 billion on Wednesday.

KUALA LUMPUR (June 28): Bursa Malaysia pared earlier gains but still ended marginally higher on Wednesday (June 28), in tandem with the improving sentiment in regional peers after a rally on Wall St overnight on a solid set of US economic data. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.63 points, or 0.12% to 1,388.37 from 1,386.74 at Tuesday’s June 27) close. The key index opened 0.93 of a point firmer at 1,387.67 in the morning — the lowest for the day — before rising as high as 1,394.56 during mid-session. The broader market was also positive as gainers outpaced decliners 395 to 388, while 416 counters were unchanged, 1,123 untraded and 84 others suspended. Turnover expanded to 2.82 billion units worth RM1.49 billion versus 2.59 billion units worth RM1.51 billion on Tuesday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices ended broadly higher following positive cues from global equities. Regiona...

KUALA LUMPUR (June 27): Bursa Malaysia extended earlier losses to end lower for the second consecutive day as Malaysia’s producer price index (PPI) contracted 4.6% year-on-year (y-o-y) in May 2023, which is faster than expected as compared with a 3% drop in April, said an analyst.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.14 points or 0.23% to 1,386.74 from 1,389.88 at Monday’s close. The key index opened 0.99 of a point better at 1,390.87 in the morning and moved between 1,385.3 and 1,393.38 throughout the session. The broader market was also negative as decliners outpaced gainers 425 to 360, while 426 counters were unchanged, 1,124 untraded and 40 others suspended. Turnover increased marginally to 2.59 billion units worth RM1.51 billion versus 2.56 billion units worth RM1.41 billion on Monday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices ended mostly higher, particularly in China an...

KUALA LUMPUR (June 26): Bursa Malaysia gave up earlier gains to end marginally lower on Monday (June 26), weighed down by persistent selling in heavyweights, particularly financial services stocks, in tandem with the weakness in most regional peers. Malayan Banking Bhd eased four sen to RM8.70 and Public Bank Bhd slid two sen to RM3.86. Both stocks dragged the composite index down by a combined 1.44 points.   At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.01 points or 0.07% to 1,389.88 from 1,390.89 at last Friday’s close. The key index opened 0.66 of-a-point better at 1,391.55 on Monday morning and moved between 1,388.41 and 1,394.30 throughout the session. The broader market was also negative as decliners outpaced gainers 476 to 292, while 465 counters were unchanged, 1,084 untraded and 40 others suspended. Turnover declined to 2.56 billion units worth RM1.41 billion versus 4.90 billion units worth RM1.63 billion la...

KUALA LUMPUR (June 23): Bursa Malaysia snapped three straight days of gains to end the week on a weaker note amid a worldwide selloff on worries over the global economic outlook. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.78 points, or 0.27%, to 1,390.89 from 1,394.67 at Thursday’s close. The key index opened 1.03 points better at 1,395.70 on Friday morning and moved between 1,389.70 and 1,397.54 throughout the session. The broader market was also negative as decliners outpaced gainers 518 to 353, while 401 counters were unchanged, 1,046 untraded, and 19 others suspended. Turnover surged to 4.90 billion units worth RM1.63 billion versus 2.16 billion units worth RM1.59 billion on Thursday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Malaysian equities closed broadly lower, in tandem with the negative performance in the region after US and European markets fell overnight. "The unexpectedly large interest rate hike from...

  President Joe Biden and Indian Prime Minister Narendra Modi will announce a series of defense and commercial deals designed to improve military and economic ties between their nations during Thursday’s state visit at the White House, according to senior US officials. General Electric Co. has unveiled plans to jointly manufacture F414 engines with state-owned Indian firm Hindustan Aeronautics Ltd. for the Tejas light-combat aircraft as part of an effort to enhance defense and technology sharing, given China's increasing assertiveness in the Indo-Pacific. Biden and Modi will discuss a deal for MQ-9B SeaGuardian drones made by General Atomics and a new defense pact that will enable American Navy ships to undertake major repairs at Indian shipyards. Additionally, the two leaders plan to debut a series of semiconductor deals designed to take advantage of Indian subsidies intended to bring advanced technology manufacturing to the South Asian nation. Micron Technology Inc. will announce...

KUALA LUMPUR (June 22): Bursa Malaysia extended gains for the third consecutive day on Thursday (June 22) with the key index putting on 0.09%, supported by bargain hunting in selected heavyweights led by financial services and telecommunications stocks, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most of its earlier gains to close at 1,394.67, up 1.22 points, from 1,393.45 at Wednesday’s close. The market bellwether opened 1.33 points lower at 1,392.12 on Thursday morning and moved between 1,391.76 and 1,402.44 throughout the session. However, the broader market was negative as decliners surpassed gainers 452 to 334, while 422 counters were unchanged, 1,086 untraded and 19 others suspended. Turnover decreased to 2.16 billion units worth RM1.59 billion versus 3.06 billion units worth RM1.80 billion on Wednesday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI closed marginally higher on continued barga...

KUALA LUMPUR (June 21): Bursa Malaysia rebounded to end on a firmer note on Wednesday (June 21), bucking the mainly negative regional trend, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.12 points, or 0.37% to 1,393.45 from 1,388.33 at Tuesday’s (June 20) close. The FBM KLCI, which opened 2.6 points lower at 1,385.73 in the morning, moved between 1,383.88 and 1,395.85 throughout the session. The broader market was positive as gainers surpassed decliners 422 to 415, while 436 counters were unchanged, 1,022 untraded and 18 others suspended. Turnover increased to 3.06 billion units worth RM1.8 billion versus 2.85 billion units worth RM1.75 billion on Tuesday. On the index board, the FBM Emas Index was 44.92 points better at 10,250.46, the FBMT 100 Index climbed 44.97 points to 9,951.46 and the FBM 70 Index advanced 96.53 points to 13,477.88. However, the FBM ACE Index eased by 1.04 points to 5,088.02.

KUALA LUMPUR (June 20): Bursa Malaysia ended mixed on Monday (June 20), trading cautiously in a tight range, with buying interspersed with selling in selected heavyweights, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up one point, or 0.07%, to 1,388.33 from 1,387.33 at Monday’s (June 19) close. The key index opened 0.09 of a point easier at 1,387.24 in the morning and moved between 1,383.86 and 1,388.75 throughout the trading session. However, on the broader market, decliners trounced gainers 531 to 313, while 408 counters were unchanged, 1,031 untraded and 16 others suspended. Turnover increased to 2.85 billion units worth RM1.75 billion versus 2.58 billion units worth RM1.47 billion on Monday. A dealer said the local bourse was tracking its Asian peers which were mostly lower as market sentiment remained subdued. Investors are still digesting China’s loan prime rate cut by 10 basis points across the board on Tuesday, while awaiting an up...

KUALA LUMPUR (June 19): Bursa Malaysia pared most of its earlier losses to end marginally lower Monday (June 19), tracking the downbeat performance in regional bourses as market sentiment turned cautious ahead of China’s rate decision and the US Federal Reserve (Fed) chair Jerome Powell’s upcoming testimony. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.28 points to 1,387.33 from 1,388.61 at the close last Friday. The key index opened 4.72 points lower at 1,383.89 in the morning and moved between 1,379.83 and 1,390.5 throughout the trading session. On the broader market, decliners outpaced gainers 452 to 371, while 426 counters were unchanged, 1,044 untraded and 25 others suspended. Turnover decreased to 2.58 billion units worth RM1.47 billion versus 3.54 billion units worth RM3.25 billion last Friday (June 16). A dealer said the local bourse opened broadly lower, however, buying interest in plantation and financial services counters helped to pare earl...

KUALA LUMPUR (June 16): Late buying lifted Bursa Malaysia to end at its intraday high on Friday (June 16), in sync with the upbeat performance of regional bourses, as market sentiment turned positive, fuelling investors' risk appetite. At 5pm, the FBM KLCI had risen 6.88 points, or 0.50%, to end at 1,388.61, from 1,381.73 at Thursday’s close. The barometer index opened 0.69 of a point firmer at 1,382.42 on Friday morning, and thereafter hit an intraday low of 1,373.15 during the mid-morning session.  However, market breadth was negative, as decliners outpaced gainers 451 to 397, while 462 counters were unchanged, 974 untraded, and 25 others suspended. Turnover increased to 3.54 billion units worth RM3.25 billion, versus 3.48 billion units worth RM1.80 billion on Thursday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the key regional indices trended mostly higher, following a positive...

KUALA LUMPUR (June 15): Bursa Malaysia retreated from gains on Wednesday to close lower on Thursday (June 15) due to profit-taking activities, bucking the mostly positive regional market performance, said an analyst. At 5pm, the FBM KLCI had slid 3.69 points, or 0.27%, to 1,381.73, from 1,385.42 at Wednesday’s close. The key index opened 2.46 points lower at 1,382.96 on Thursday morning, and hit a low of 1,378.83 later in the day. Market breadth was negative, as decliners outpaced gainers 546 to 361, while 403 counters were unchanged, 974 untraded, and 13 others suspended. Turnover increased to 3.48 billion units worth RM1.80 billion, versus 2.86 billion units worth RM1.75 billion on Wednesday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said regionally, the key indices ended mostly higher buoyed by the prospect of increased stimulus in China after the republic made more rate cuts. Japan's Nikkei 225 eased 0.05%...

KUALA LUMPUR (June 14): Bursa Malaysia recouped earlier losses to close higher on Wednesday (June 14), amid a mixed regional market performance, ahead of the US interest rate decision later in the day. At 5pm, the FBM KLCI had risen 4.81 points, or 0.35%, to 1,385.42, compared with 1,380.61 at Tuesday’s close. The key index opened 1.09 points firmer at 1,381.70 on Wednesday morning, and moved between 1,381.49 and 1,386.79 throughout the day. Market breadth was positive, as gainers beat decliners 444 to 343, while 515 counters were unchanged, 953 untraded, and 13 others suspended. Turnover decreased to 2.86 billion units worth RM1.75 billion, versus 3.08 billion units worth RM1.97 billion on Tuesday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said investors’ attention was primarily focused on the US Federal Open Market Committee meeting, wherein they anticipated a halt in in...

KUALA LUMPUR (June 13): Bursa Malaysia retreated from Monday's (June 12) gains to close lower on Tuesday, despite the upbeat regional market performance ahead of the release of US consumer price index (CPI) data later on Tuesday. At 5pm, the FBM KLCI had eased 6.16 points, or 0.44%, to 1,380.61, from 1,386.77 at Monday’s close. The key index opened 0.92 of a point firmer at 1,387.69 on Tuesday morning, and moved between 1,378.15 and 1,387.79 throughout the day. Market breadth was negative, as decliners led gainers 466 to 434, while 421 counters were unchanged, 923 untraded, and 12 others suspended. Turnover increased marginally to 3.08 billion units worth RM1.97 billion, versus 3.01 billion units worth RM1.72 billion on Monday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the KLCI was lower on Tuesday, as investors took profit after Monday's firm rally....

KUALA LUMPUR (June 12): Bursa Malaysia maintained its upbeat momentum to close higher on Monday (June 12), driven by bargain-hunting on improved market sentiment, said an analyst. At 5pm, the FBM KLCI had improved 10.69 points, or 0.78%, to 1,386.77, from 1,376.08 at last Friday’s close. The key index opened 1.53 points firmer at 1,377.61 on Monday morning, and moved between 1,377.61 and 1,390.55 throughout the day. Market breadth was positive, as gainers beat decliners 481 to 371, while 434 counters were unchanged, 958 untraded, and 12 others suspended. Turnover decreased marginally to 3.01 billion units worth RM1.72 billion, versus 3.34 billion units worth RM1.49 billion last Friday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the KLCI ended higher, as investors took the opportunity to bargain-hunt for stocks at lower levels, following the heavy selldown since late May. “The key reg...

  KUALA LUMPUR (June 9): Bursa Malaysia snapped a two-day losing streak to close slightly higher on Friday (June 9), in tandem with the uptrend in regional bourses, said an analyst.    At 5pm, the FBM KLCI was marginally higher by 1.44 points, or 0.10%, at 1,376.08, from 1,374.64 at Thursday’s close. The key index opened 0.94 of a point higher at 1,375.58 on Friday morning, and moved between 1,373.08 and 1,381.26 throughout the day. The market breadth was positive, as gainers led decliners 489 to 341, while 445 counters were unchanged, 968 untraded, and 21 others suspended. Turnover widened to 3.34 billion units worth RM1.49 billion, versus 2.68 billion units worth RM1.61 billion on Thursday. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the KLCI rebounded from earlier losses in the mid-morning on mild bargain-hunting activities for oversold stocks.  "Nevertheless, gains in the...

KUALA LUMPUR (June 8): Bursa Malaysia closed lower on Thursday (June 8) for the second consecutive day, as selling pressure persisted, mainly on telecommunications and commodity related stocks. At 5pm, the FBM KLCI had fallen 4.01 points or 0.29% to 1,374.64, from 1,378.65 at Wednesday’s close. The key index opened 2.86 points lower at 1,375.79 on Thursday morning, and moved between 1,369.41 and 1,376.62 throughout the day. Market breadth was negative, as decliners led gainers by 487 to 300, while 433 counters were unchanged, 1,023 untraded, and 21 others suspended. Turnover shrank to 2.68 billion units worth RM1.61 billion, versus 3.12 billion units worth RM1.73 billion on Wednesday. 

KUALA LUMPUR (June 7): Bursa Malaysia was lower on Wednesday (June 7), but closed off its intraday low, dragged down by extended selling pressure from the outflow of foreign funds, said an analyst.  At 5pm, the FBM KLCI had fallen 4.52 points or 0.33% to 1,378.65, from 1,383.17 at Tuesday’s close. The key index opened 1.17 points easier at 1,382.00 on Wednesday morning, and moved between an intraday low of 1,371.74 and high of 1,383.55 throughout the day. Market breadth was negative, as decliners led gainers by 495 to 378, while 401 counters were unchanged, 970 untraded, and 13 others suspended. Turnover shrank to 3.12 billion units worth RM1.73 billion, versus 3.55 billion units worth RM1.92 billion on Tuesday.  Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the sluggish trade data from China also contributed to the weakness in the local bourse. 

  KUALA LUMPUR (June 6): Bursa Malaysia settled slightly higher at the close on Tuesday (June 6), backed by mild buying support for selected heavyweights, amid a mixed regional market performance.  At 5pm, the FBM KLCI had risen 1.91 points to 1,383.17, from 1,381.26 at the close last Friday. The key index opened 0.84 point higher at 1,382.10 on Tuesday morning, and moved between 1,377.35 and 1,383.58 throughout the day.

KUALA LUMPUR (June 2): Late recovery lifted the key index of Bursa Malaysia to end off its intraday low on Friday (June 2) while the overall sentiment remains weak ahead of the long weekend. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.75 points to 1,381.26 from 1,383.01 at Thursday’s close, with mild losses in banking counters continuing to contribute to the decline. The key index opened 2.81 points higher at 1,385.82, marking its intraday high, and thereafter slid to an intraday low of 1,376.78 during the mid-morning session. The broader market was positive with 568 advancers and 336 decliners, while 412 counters were unchanged, 940 untraded and 27 others suspended. Turnover expanded to 3.60 billion units worth RM1.94 billion versus 2.94 billion units worth RM1.81 billion on Thursday. At the close, only the financial and property and consumer products and services indices were in the red. An analyst said bargain hunters have begun to nibble on beaten...

KUALA LUMPUR (June 1): Bursa Malaysia continued to be sluggish on Thursday (June 1) amid a lack of impetus despite the optimism surrounding the US debt ceiling development. The bill to raise the US debt ceiling was passed in the House of Representatives and will now go to the Senate for a final vote ahead of Monday’s deadline. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 4.11 points to 1,383.01 from 1,387.12 at Wednesday’s close. The key index opened 3.82 points weaker at 1,383.30 on Thursday morning and moved between 1,378.58 and 1,386.41 throughout the session. The broader market was negative with decliners surpassing advancers 474 to 319, while 432 counters were unchanged, 1,015 untraded and 27 others suspended. Turnover declined to 2.94 billion units worth RM1.81 billion versus 3.54 billion units worth RM5.25 billion on Wednesday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng believes Congress will approve the increase in th...