Market Daily Report: Bursa ends marginally higher despite mixed regional peers

KUALA LUMPUR (Oct 31): Bursa Malaysia closed marginally higher on Tuesday, despite a mixed regional peers performance, as risk appetite in the broader market improved on bargain hunting activities. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.94 points to 1,442.14 from Monday's closing of 1,439.20.

The benchmark index, which opened 0.45 of a point easier at 1,438.75, moved between 1,437.98 and 1,443.46 throughout the day.

The broader market turned slightly positive with advancers beating decliners 410 to 398, while 486 counters were unchanged, 1,082 untraded and 61 suspended.

Turnover increased to 2.99 billion units worth RM1.85 billion from 2.8 billion units valued at RM1.51 billion yesterday.

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the local bourse was buoyed by bargain-hunting activities, particularly in commodity-related stocks.

He said sentiment is likely to stay cautious, with increasing external volatility and potential selling from foreign funds.

Market Daily Report: Bursa ends lower amid mixed regional markets

 KUALA LUMPUR (Oct 30): Bursa Malaysia closed marginally lower on Monday amid regional markets’ mixed performance, a dealer said. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 2.7 points to 1,439.2 from last Friday's (Oct 27) closing of 1,441.9.

The benchmark index, which opened 1.86 points lower at 1,440.04, moved between 1,436.98 and 1,441.8 throughout the day.

On the broader market, decliners outpaced gainers 624 to 238, while 416 counters were unchanged, 1,114 untraded and 76 suspended.

Turnover increased to 2.8 billion units valued at RM1.51 billion from 2.72 billion units worth RM1.69 billion on Friday.

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said key regional indices ended mixed as cautious sentiments emerged while investors brace themselves for a data-packed week, with the US Federal Reserve taking the spotlight on account of its policy meeting this week. 

He noted that the Japanese market is facing substantial pressure due to the prevailing uncertainty surrounding the impending Bank of Japan meeting.

Additionally, risk appetite remained subdued following Israel's extensive attack in Gaza over the weekend.

“We suggest that investors remain cautious due to the escalating global volatility and uncertainties.

“While the valuation of the benchmark index is undemanding, we expect bargain hunting to emerge soon,” he said. 

Market Daily Report: Bursa ends marginally higher on bargain hunting

KUALA LUMPUR (Oct 27): Bursa Malaysia ended the week slightly higher on Friday as bargain-hunting activities emerged, with buying seen mainly in transportation and logistics stocks, said a dealer.  

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.3 points to 1,441.9 from Thursday's closing of 1,440.60. The benchmark index opened 0.11 of a point better at 1,440.71 and moved between 1,439.33 and 1,444.15 throughout the day.

On the broader market, decliners edged past gainers 430 to 426 while 463 counters were unchanged, 1,073 untraded and 24 suspended. Turnover shrank to 2.72 billion units worth RM1.69 billion from 3.23 billion units worth RM1.98 billion on Thursday.

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the sentiment would remain cautious given the increasing market risks and global volatility. "Yet, we [maintain] our view that the valuations of the KLCI continue to be appealing, providing opportunities for investors," he said. 

Bursa heavyweight stocks Maybank Bhd, Public Bank Bhd and CIMB Group Holdings Bhd stood unchanged at RM9, RM4.17 and RM5.68, respectively, while Petronas Chemicals Group Bhd added eight sen to RM7.30 and  Tenaga Nasional Bhdshed two sen to RM9.87. 

Market Daily Report: Bursa ends mixed on downtrend in global equity markets

KUALA LUMPUR (Oct 26): Bursa Malaysia ended mixed on Thursday as the US 10-year yield rebounded to 4.95%, causing a sell-off in global equity markets despite Malaysia's positive producer price index (PPI) data, a dealer said. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.91 points to 1,440.6 from Wednesday’s closing of 1,442.51

The index, which opened 0.52 of a point higher at 1,443.03, moved between 1,438.8 and 1,445.14 throughout the day.

However, on the broader market, gainers beat decliners 436 to 402, while 448 counters were unchanged, 1,088 untraded and 17 suspended.

Turnover expanded to 3.23 billion units worth RM1.98 billion from 2.83 billion units worth RM1.78 billion on Wednesday. 

Apex Securities Bhd head of research Kenneth Leong said the weakness was also due to concern over a higher interest rate environment that dominated sentiment.

"Going forward, we expect the downside to persist, owing to the volatility across global markets, un-easing geopolitical tensions, rising bond yields and the mixed bag of corporate earnings from Wall Street,” he said.

He noted that investors would be monitoring the US consumer sentiment data to provide further guidance towards the impact of higher interest rates on consumer spending power.

Nevertheless, Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng expects stock accumulation to persist during market dips, heavily influenced by external factors.

“Hence, we foresee that the FBM KLCI will continue to trend within the 1,435-1,445 range towards the weekend, with support at 1,430 and resistance at 1,460," he said. 

Bursa heavyweights Maybank Bhd stood at RM9, Public Bank Bhd and Tenaga Nasional Bhd rose a sen to RM4.17 and RM9.89 respectively, CIMB Group Holdings Bhd lost one sen to RM5.68 and Petronas Chemicals Group Bhd shed three sen to RM7.22. 

Of the actives, CSH Alliance Bhd and Velesto Energy Bhd were flat at six sen and 26 sen respectively, Widad Group Bhd lost two sen to 45.5 sen, while UEM Sunrise Bhd gained seven sen to 82 sen and Leform Bhd added half a sen to 24.5 sen. 

On the index board, the FBM Emas Index was 6.62 points lower at 10,631.7, the FBMT 100 Index was 9.66 points weaker to 10,304.3, the FBM Emas Shariah Index decreased 20.05 points to 10,843.43 and the FBM ACE Index reduced 17.89 points to 5,049.59.

Market Daily Report: Bursa ends higher on bargain-hunting activities

KUALA LUMPUR (Oct 25): Bursa Malaysia closed higher on Wednesday on the back of bargain-hunting activities with more than two-thirds of the key index components advancing, driven by the calmer market conditions on Wall Street overnight, a dealer said. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 6.86 points to 1,442.51 from Tuesday’s closing of 1,435.65.

The index, which opened 2.32 points higher at 1,437.97, moved between 1,437.82 and 1,444.53 throughout the day.

Likewise, on the broader market, gainers beat decliners 447 to 360, while 459 counters were unchanged, 1,102 untraded and 20 suspended.

Turnover decreased to 2.83 billion units worth RM1.78 billion from 2.93 billion units worth RM1.94 billion on Tuesday. 

Apex Securities Bhd head of research Kenneth Leong said the improvement was also driven by China's government proposal to issue sovereign bonds worth one trillion yuan (RM646.59 billion) in an attempt to shore up its economy.

"Looking ahead, we expect the FBM KLCI to build onto the previous session’s gains amid the calmer market conditions with investors nibbling into the beaten down stocks.

"Investors would also be keeping a close tab on the release of Malaysia's Producer Price Index data tomorrow ([Oct 26]," he said.  

Meanwhile, Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng anticipates that China's stimulus plan will have a positive spillover effect, benefiting regional markets, including Malaysia.

"Therefore, we anticipate the FBM KLCI to trend within the range of 1,435 to 1,450 for the remainder of the week," he said. 

Bursa heavyweights Maybank Bhd gained four sen to RM9, Public Bank Bhd added two sen to RM4.16, CIMB Group Holdings Bhd climbed one sen to RM5.69, Petronas Chemicals Group Bhd added 10 sen to RM7.25 and Tenaga Nasional Bhd was three sen higher at RM9.88.

Market Daily Report: Bursa pares earlier losses to end mixed

KUALA LUMPUR (Oct 24): Bursa Malaysia ended mixed on Tuesday as profit taking earlier in the day tapered off as bargain hunting sets in while the market awaits fresh catalysts, dealers said. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) erased 2.47 points to 1,435.65 from Monday’s closing of 1,438.12.

The index opened 0.16 of a point better at 1,438.28 and moved between 1,430.15 and 1,440.28 throughout the day.

However, on the broader market, gainers surpassed decliners 510 to 348, while 452 counters were unchanged, 1,058 untraded and 13 suspended.

Turnover decreased to 2.93 billion units worth RM1.94 billion from 3.38 billion units worth RM2 billion on Monday. 

Apex Securities Bhd head of research Kenneth Leong said investors will be keeping a close watch on the ongoing quarterly corporate earnings releases in the US such as Coca-Cola, Microsoft, Alphabet, and Visa later on Tuesday night.

"Looking ahead, we expect the local bourse to find stability amid signs of easing selling activities as the key index rebounded from its intraday low today," he said. 

Meanwhile, Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng believed that investor sentiment will remain cautious in the near term, considering the growing external risks and volatility, coupled with selling pressure from foreign funds.

"As such, we expect the FBM KLCI to trend sideways within the 1,430 to 1,450 range for the rest of the week, with immediate support at 1,430 and support at 1,460,” he said. 

Bursa heavyweights Maybank Bhd lost three sen to RM8.96, Public Bank Bhd fell two sen to RM4.14, CIMB Group Holdings Bhd gained two sen to RM5.68, Petronas Chemicals Group Bhd rose eight sen to RM7.15, and Tenaga Nasional Bhd was unchanged at RM9.85.

Of the actives, Widad Group Bhd dipped 10.5 sen to 43 sen, Metronic Global Bhd eased half a sen to 1.5 sen, Sarawak Consolidated Industries Bhd expanded 1.5 sen to 54 sen, Kanger International Bhd increased one sen to 12.5 sen, and KNM Group Bhd put on two sen to 11 sen. 

On the index board, the FBM Emas Index was 13.52 points higher at 10,591.33, the FBMT 100 Index advanced 6.39 points to 10,267.85 and the FBM Emas Shariah Index expanded 21.09 points to 10,818.26.

Market Daily Report: Bursa closes lower in line with weaker regional markets

KUALA LUMPUR (Oct 23): Bursa Malaysia ended lower on Monday in tandem with the negative performance across the regional markets, coupled with extended selling activities from foreign funds, said a dealer. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 2.92 points to 1,438.12 from Friday’s closing of 1,441.04.

The index opened 0.69 of a point higher at 1,441.73 and moved between 1,435.05 and 1,443.86 during the session.

The key index managed to recoup earlier losses during the mid-afternoon session on mild bargain hunting, but it only lasted 40 minutes.

On the broader market, decliners beat gainers 743 to 195, while 384 counters were unchanged, 1,035 untraded and nine suspended.

Turnover decreased to 3.38 billion units worth RM2 billion from 3.51 billion units worth RM1.9 billion on Thursday. 

Market Daily Report: Bursa ends marginally lower amid regional slump

 KUALA LUMPUR (Oct 20): Bursa Malaysia ended marginally lower on Friday amid the weakness in regional markets as higher US bond yields weighed on the global risk appetite while rising tension in the Middle East further dampened sentiments, dealers said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.62 points to 1,441.04 from Thursday’s closing of 1,442.66.

The index opened 0.69 of a point higher at 1,443.35 and moved between 1,438.36 and 1,443.75 during the session. The key index managed to recoup earlier losses during the mid-afternoon session on mild bargain hunting, but it only lasted an hour.

On the broader market, decliners trounced gainers 558 to 315 while 464 counters were unchanged, 1,020 untraded and nine suspended.

Turnover increased to 3.51 billion units worth RM1.9 billion from 3.07 billion units worth RM2.02 billion on Thursday.

Apex Securities Bhd head of research Kenneth Leong said the downtrend in the local bourse stemmed from concerns over the hawkish bias in remarks from the US Federal Reserve overnight, which also adversely impacted regional markets.

“For the time being, we reckon that the downward bias tone may linger in view of the absence of fresh catalysts. Going forward, we expect investors to continue to monitor the developments surrounding the geopolitical tension in the Middle East,” he told Bernama.

Leong said investors could also monitor the ongoing batch of US corporate earnings releases that might dictate the movement on Wall Street.

With the key index continuing to hover in a tight trading range, any recovery above the near-term resistance at 1,446 might lift the key index higher towards the 1,464-1,488 range, he said.

“Should the 1,438 level be unable to hold, further correction may send the key index down towards the next support at 1,424,” he added.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that regional bourses were under selling pressure on Friday as the US 10-year Treasury yield briefly hit 5% — the highest level since 2007. Additionally, the conflict in the Middle East further weighed on sentiments as it might disrupt oil supplies, which would lift inflation higher and lead to rate hikes by central banks, he added.

Regionally, Singapore's Straits Times Index eased 0.74% to 3,076.69, Japan’s Nikkei 225 dropped 0.54% to 31,259.36 and Hong Kong’s Hang Seng Index fell 0.72% to 17,172.13.

Market Daily Report: Bursa ends lower on profit-taking

KUALA LUMPUR (Oct 19): Bursa Malaysia ended lower on Thursday on profit-taking activities, in sync with regional peers taking the cue from the sharp fall on Wall Street on Wednesday and rising tension in the Middle East, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 3.88 points to 1,442.66 from Wednesday’s closing of 1,446.54.

The index opened 3.28 points lower at 1,443.26 and moved between 1,441.34 and 1,445.19 during the session.

On the broader market, decliners trumped gainers 509 to 337, while 457 counters were unchanged, 1,048 untraded and 10 suspended.

Turnover decreased to 3.07 billion units worth RM2.02 billion from 3.41 billion units worth RM2.71 billion on Wednesday.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI concluded the day with a slight dip as fresh catalysts were absent while investors remained cautious due to the volatile performances in global and regional equity markets.

He shared that the US Treasuries experienced a broad-based selloff, propelling the yield on 10-year notes to a new 16-year peak, suggesting the likelihood of prolonged elevated interest rates while the ongoing turmoil in the Middle East continues to negatively impact investor sentiment.

“On the domestic front, the benchmark index is stuck in consolidation mode as investors remained cautious for the aforementioned reasons.

“Consequently, we expect the FBM KLCI to trend sideways within the 1,440-1,450 range towards the weekend. From a technical perspective, immediate resistance and support levels remain unchanged at 1,460 and 1,430 respectively," he told Bernama.

Regionally, Singapore's Straits Times Index eased 1.16% to 3,100.37, Japan’s Nikkei 225 slipped 1.91% to 31,430.62, Hong Kong’s Hang Seng Index fell 2.46% to 17,295.89, China’s SSE Composite lost 1.74% to 3,005.39 and South Korea’s Kospi shed 1.90% to 2,415.80.

Back home, Bursa heavyweights Public Bank Bhd shed five sen to RM4.12, Petronas Chemicals Group Bhd fell 17 sen to RM7.48 and Tenaga Nasional Bhd declined four sen to RM9.98, while Malayan Banking Bhd added one sen to RM8.96 and CIMB Group Holdings Bhd gained one sen to RM5.58.

Of the actives, Icon Offshore Bhd lost two sen to 11 sen, MyEG Services Bhd eased 1.5 sen to 79 sen and Kanger International Bhd inched down half-a-sen to 11.5 sen, but Widad Group Bhd edged up half-a-sen to 56.5 sen and Systech Bhd improved four sen to 53 sen.

Market Daily Report: Bursa extends Tuesday's gains to end at intraday high

UALA LUMPUR (Oct 18): Bursa Malaysia extended Tuesday's gains to end at an intraday high on Wednesday, after recouping earlier losses.

However, the broader market was negative with decliners trumping gainers 616 to 265, while 438 counters were unchanged, 1,031 untraded and 10 suspended.

Regional bourses were mixed after China registered better-than-expected third-quarter (3Q) gross domestic product (GDP) at 4.9%, while the Middle East conflict continues to weigh on sentiment, dealers said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.41 points to end at an intraday high of 1,446.54 from Tuesday’s closing of 1,444.13.

The index, which opened 0.9 of-a-point easier at 1,443.23, hit a low of 1,441.06 in the mid-morning session before gaining momentum to move upwards in the late session.

Turnover increased to 3.41 billion units worth RM2.71 billion from 2.67 billion units worth RM1.92 billion on Tuesday.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI reversed earlier losses and ended in positive territory due to late buying on commodity-related stocks while the key regional indices pared losses and closed mixed on the back of China's positive 3Q GDP, which surpassed expectations of 4.4%, but slowed from 6.3% in the preceding quarter.

"Back home, we anticipate market sentiment to remain jittery given the ongoing geopolitical conflict in the West Asia region, which has created a wait-and-see sentiment, subsequently impacting market performance negatively.

"Taking the current situation into account, we project the benchmark index to continue its sideways trajectory, and anticipate the FBM KLCI to trend within the 1,435 to 1,450 range for the rest of the week with immediate resistance at 1,460 and support at 1,430," he told Bernama.

Regionally, Singapore's Straits Times Index fell 1.11% to 3,136.62, Hong Kong’s Hang Seng Index trimmed 0.23% to 17,732.52 and China’s SSE Composite slipped 0.8% to 3,058.71.

Japan’s Nikkei 225 edged up 0.01% to 32,042.25 and South Korea’s Kospi added 0.1% to 2,462.60.

On the local bourse, heavyweights Malayan Banking Bhd slipped five sen to RM8.95, Public Bank Bhd slid one sen to RM4.17 and CIMB Group Holdings Bhd dipped four sen to RM5.94.

Petronas Chemicals Group Bhd rose 15 sen to RM7.65 while Tenaga Nasional Bhd gained four sen to RM10.02.

Of the actives, KNM Group Bhd eased one sen to 10 sen, Minox International Group Bhd fell 3.5 sen to 33.5 sen, Ekovest Bhd declined 3.5 sen to 47.5 sen, UEM Sunrise Bhd slid four sen to 75 sen, while Eversendai Corp Bhd's warrant added five sen to 10.5 sen.

On the index board, the FBM Emas Index declined 19.13 points to 10,673.75, the FBMT 100 Index shed 11.02 points to 10,346.56, the FBM 70 Index dropped 138.53 points to 14,079.15, and the FBM ACE Index lost 71.74 points to 5,081.40.

The FBM Emas Shariah Index gained 18.51 points to 10,948.07.

Sector-wise, the Plantation Index rose 39.14 points to 6,928.38, the Industrial Products and Services Index edged up 0.87 of-a-point to 176.54, the Financial Services Index fell 78.78 points to 16,165.84, and the Energy Index slipped by 3.48 points to 878.69.

The Main Market volume increased to 2.34 billion units worth RM2.44 billion from 1.40 billion units worth RM1.58 billion on Tuesday.

Warrants turnover expanded to 337.33 million units valued at RM42.81 million against 305.12 million units valued at RM36.0 million.

The ACE Market volume tumbled to 716.30 million shares worth RM230.41 million from 972.12 million shares worth RM304.17 million previously.

Consumer products and services counters accounted for 290.89 million shares traded on the Main Market, industrial products and services (446.88 million), construction (325.44 million), technology (202.13 million), SPAC (nil), financial services (156.88 million), property (327.62 million), plantation (46.75 million), REITs (24.77 million), closed/fund (178,400), energy (207.47 million), healthcare (61.83 million), telecommunications and media (77.14 million), transportation and logistics (64.97 million), and utilities (109.43 million).

Source: The Edge

Market Daily Report: Bursa closes at intraday high on improving sentiment

KUALA LUMPUR (Oct 17): Bursa Malaysia closed higher on Tuesday, in tandem with the better performance in regional bourses, taking the cue from the upbeat Wall Street performance overnight.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.17 points to end at an intraday high of 1,444.13 from Monday’s closing of 1,438.96.

The key index opened 0.08 of a point higher at 1,439.04 and hit a low of 1,438.95 in the early morning session before gaining momentum to move upwards thereafter.

On the broader market, gainers outpaced decliners 439 to 353, while 504 counters were unchanged, 1,045 untraded and 10 suspended.

Turnover decreased to 2.67 billion units worth RM1.92 billion from 3.09 billion units worth RM1.92 billion on Monday. 

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the KLCI closed marginally higher due to bargain-hunting activities following Monday's sell-off while the key regional indices were also in the green following positive cue from global equities overnight.

On another note, he said diplomatic attempts to curb the expansion of the Israel-Hamas conflict into a wider-scale war have had a somewhat positive impact on investor sentiment.

US President Joe Biden is scheduled to make a visit to Israel, aiming to curb the conflict's escalation while Secretary of State Antony Blinken has also returned to Israel for a meeting with Prime Minister Benjamin Netanyahu, following discussions with Arab governments, he shared.

"On the domestic front, we expect market sentiment to remain cautious due to growing global volatility and uncertainties.

"In light of this, we expect the benchmark index to continue in its sideways pattern, and maintain our FBM KLCI weekly target of 1,430 to 1,450 until new catalysts become evident. On a technical point of view, we see the immediate resistance at 1,460 and support at 1,430," he said.

As for the regional markets, Singapore's Straits Times Index improved 0.12% to 3,167.64, Japan’s Nikkei 225 rose 1.2% to 32,040.29, South Korea’s Kospi gained 0.98% to 2,460.17, Hong Kong’s Hang Seng Index firmed 0.75% to 17,773.34, and China’s SSE Composite was 0.32% better at 3,083.5.

Back home, Bursa heavyweights Maybank Bhd and Petronas Chemicals Group Bhd bagged two sen each to RM9 nad RM7.50 respectively, Public Bank Bhd added a sen to RM4.18, and Tenaga Nasional Bhd improved three sen to RM9.98, while CIMB Group Holdings Bhd was flat at RM5.61.

Of the actives, ACE Market debutant Minox International Group Bhd rose 12 sen to 37 sen, Kanger International Group Bhd and Sarawak Consolidated Industries Bhd perked up one sen each to 12 sen and 52 sen respectively, while Asdion Bhd and Top Glove Corp Bhd climbed 1.5 sen each to 7.5 sen and 75 sen respectively.

On the index board, the FBM Emas Index increased 33.82 points to 10,692.88, the FBMT 100 Index rose 32.99 points to 10,357.58, the FBM Emas Shariah Index advanced 50.88 points to 10,929.55, the FBM 70 Index climbed 27.42 points to 14,217.68, and the FBM ACE Index went up 35.95 points to 5,153.14.

Sector-wise, the Financial Services Index added 16.69 points to 16,244.62, the Industrial Products and Services Index inched up 0.33 of a point to 175.67, the Energy Index eased 0.29 of a point to 882.17, and the Plantation Index jumped 63.08 points to 6,889.24.

The Main Market volume dropped to 1.4 billion units worth RM1.58 billion from 1.98 billion units worth RM1.73 billion on Monday.

Warrants turnover declined to 305.12 million units valued at RM36 million against 332.86 million units valued at RM41.44 million on Monday.

The ACE Market volume surged to 972.12 million shares worth RM304.17 million from 755.45 million shares worth RM213 million previously.

Consumer products and services counters accounted for 214.02 million shares traded on the Main Market, industrial products and services (336.21 million); construction (126.36 million); technology (113.27 million); SPAC (nil); financial services (68.18 million); property (165.33 million); plantation (26.09 million); REITs (11.44 million), closed/fund (6,200); energy (118.21 million); healthcare (98.57 million); telecommunications and media (46.98 million); transportation and logistics (39.67 million); and utilities (37.04 million).

Source: The Edge

Market Daily Report: Bursa closes lower on weak regional sentiment

KUALA LUMPUR (Oct 16): Bursa Malaysia closed broadly lower on Monday, in tandem with the weaker performance in regional bourses as cautious sentiment following geopolitical tensions in the Middle East weighed on investors risk appetite.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 5.18 points to 1,438.96 from Friday’s (Oct 13) close of 1,444.14.

The key index, which opened 1.22 points better at 1,445.36, moved between 1,436.5 and 1,446.12 throughout the day.

Market breadth was negative with decliners thumping advancers 597 to 284, while 451 counters were unchanged, 1,022 untraded and 24 others suspended.

Turnover decreased to 3.09 billion units worth RM1.92 billion from 3.22 billion units worth RM1.8 billion on Friday. 

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the local market was subdued as selling pressure mounts across the region as escalated conflicts in the Middle East continue to hurt investor sentiment.

He said the ongoing conflict sent shockwaves through the oil markets, intensifying the existing uncertainties that were already looming over the US interest hike and global economic outlook.

“As for the local stock market, sentiment may be cautious, given the increasing market risks and volatility in the global markets.

“Nevertheless, we believe the valuations of the FBM KLCI remain attractive and hold potential for investors,” he told Bernama.

Market Daily Report: Bursa ends mixed as investors focus on Budget 2024

KUALA LUMPUR (Oct 13): Bursa Malaysia ended mixed as investors remained cautious while digesting Budget 2024 announcements. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 0.32 points to 1,444.14 from Thursday’s close of 1,443.82.

The index, which opened 0.45 of-a-point lower at 1,443.37, moved between 1,440.49 and 1,444.97 throughout the day.

On the broader market, decliners outpaced gainers 488 to 377, while 479 counters were unchanged, 1,011 untraded and 25 others suspended.

Turnover decreased to 3.22 billion units worth RM1.80 billion from 3.38 billion units worth RM2.03 billion on Thursday. 

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said he expects the medium-term outlook for Malaysian equities to remain stable, supported by attractive valuations, stronger corporate earnings and improving economic conditions.

“Therefore, we expect accumulation to persist in the upcoming week,” he told Bernama.  

Among the heavyweights, Petronas Chemicals rose eight sen to RM7.35, Tenaga Nasional edged up two sen to RM10.02, Maybank eased one sen to RM8.98 and Public Bank also eased one sen to RM4.17. CIMB was flat at RM5.66. 

Of the actives, MMAG Holdings lost half sen to one sen while KNM Group did the same to 11.5 sen. UEM Sunrise slid 1.5 sen to 83 sen while SSF Home did the same to 25 sen. Widad inched up half-a-sen to 55 sen.

On the index board, the FBM Emas Index eased 1.37 points to 10,694.94, the FBMT 100 Index contracted 0.65 of-a-point to 10,356.88, the FBM 70 Index reduced 13.47 points to 14,213.41, and the FBM ACE Index erased 32.82 points to 5,144.95, while the FBM Emas Shariah Index was up 4.70 points to 10,925.47.

Sector-wise, the Industrial Products Services Index edged up 0.40 of-a-point to 174.44, the Plantation Index perked 15.96 points to 6,862.73 and the Energy Index was 1.91 points higher at 877.36, while the Financial Services Index decreased 14.34 points to 16,264.18. 

Market Daily Report: Bursa ends higher in anticipation of Budget 2024

KUALA LUMPUR (Oct 12): Bursa Malaysia finished higher on Thursday, tracking the strong regional market performance, with buying interest mainly in banking and telecommunication stocks, ahead of the tabling of Budget 2024 on Friday.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 7.33 points to 1,443.82 from Wednesday’s close of 1,436.49. 

The index, which opened 1.47 points better at 1,437.96, moved between 1,437.96 and 1,446.06 throughout the day.

On the broader market, gainers outpaced decliners 587 to 341, while 439 counters were unchanged, 988 untraded and 11 others suspended.

Turnover increased to 3.38 billion units worth RM2.03 billion from 3.01 billion units worth RM2.18 billion on Wednesday. 

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the key regional markets were also in the green following positive cues from global equities overnight, buoyed by easing global yield and renewed hopes of China's stimulus to boost growth in the world's second-largest economy.

"As for the local bourse, we continue to maintain our cautiously optimistic view due to the enhanced global market sentiment and decreased market volatility.

"Nonetheless, we recommend investors to remain vigilant ahead of the Budget 2024 announcement tomorrow (Oct 13)," he said. 

Thong anticipates the benchmark index to trend within the range of 1,440-1,450 towards the weekend, with immediate resistance at 1,460 and support at 1,430.

Among the heavyweights, Maybank Bhd added nine sen to RM8.99, Public Bank Bhd went up three sen to RM4.18, CIMB Group Holdings Bhd put on six sen to RM5.66, Petronas Chemicals Group Bhd perked up four sen to RM7.27, and Tenaga Nasional Bhd inched up one sen to RM10. 

Market Daily Report: Bursa Malaysia stays up ahead of Budget 2024

KUALA LUMPUR (Oct 11): Bursa Malaysia just managed to close out the session in positive territory on Wednesday on the back of banking and gaming stocks amid advances by regional peers and ahead of Budget 2024 on Friday.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.32 points to 1,436.49 from Tuesday’s closing of 1,435.17. The index, which opened 0.42 points weaker at 1,434.75, moved between 1,432.27 and 1,438.45 during the day.

On the broader market, gainers outpaced decliners 464 to 399, while 465 counters were unchanged, 1,014 untraded and 10 others suspended. Turnover decreased to 3.01 billion units worth RM2.18 billion from 3.39 billion units worth RM2.02 billion on Tuesday.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that key regional indices ended on a positive note, taking the cue from Wall Street's rise overnight as retreating US bond yields lifted sentiment.

"Investors are finding relief in signs that inflationary pressures in many economies may be subsiding, potentially allowing the US Federal Reserve (Fed) and other central banks to pause or even reverse their aggressive interest rate hikes aimed at controlling price increases," he told Bernama.

Back home, he said market investors are cautiously optimistic given the improved local market sentiment and the return of foreign funds. "As such, we anticipate the FBM KLCI to trend higher within the range of 1,430-1,445 for the remainder of the week, with immediate resistance at 1,460 and the forming of a new support level at 1,430," he added.

SPI Asset Management managing partner Stephen Innes said the local market traded higher on Wednesday as US yields continued to trade softer while regional markets were also buoyed by hopes of fiscal stimulus in China.

"However, gains were limited ahead of US inflation data (Thursday) and the release of the Federal Open Market Committee (FOMC) minutes (later).

"Of course, the unknowns around what's next for the Middle East are not helping matters either. But so far this week, lower US yields have had a more substantial impact on broader markets than any Middle East risk-off sentiment at this stage," he said.

Among the heavyweights, Maybank increased one sen to RM8.90, Public Bank rose two sen to RM4.15 and Tenaga Nasional also rose two sen to RM9.99. CIMB gained five sen to RM5.60 but Petronas Chemicals lost seven sen to RM7.23.

Of the actives, Sarawak Consolidated perked up two sen to 51.5 sen, Classita edged down half-a-sen to 7.5 sen and KNM Group shed one sen to 11 sen. Kanger International eased 1.5 sen to 10 sen while UEM Sunrise similarly eased 1.5 sen to 85.5 sen.

On the index board, the FBM Emas Index improved by 9.57 points to 10,638.85, the FBMT 100 Index widened by 8.95 points to 10,303.49 and the FBM Emas Shariah Index slid by 8.98 points to 10,878.34.

Market Daily Report: Bursa closes higher, in line with regional markets

KUALA LUMPUR (Oct 10): Bursa Malaysia closed on a positive note on Tuesday, buoyed by buying activities and improved regional markets’ performance, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 17.91 points to 1,435.17 from Monday’s closing of 1,417.26. 

The index, which opened 2.07 points higher at 1,419.33, moved between 1,419.33 and 1,435.89 during the day.

On the broader market, gainers outpaced decliners 585 to 332, while 450 counters were unchanged, 959 untraded and nine others suspended.

Turnover increased to 3.39 billion units worth RM2.02 billion from 2.88 billion units worth RM1.78 billion on Monday. 

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices trended mostly higher, taking their cue from Wall Street's optimism after the US Federal Reserve (Fed) officials minimised the chances of a rate hike for the rest of the year, despite the recent uptick in treasury yields.

“The benchmark index finished sharply higher, in line with the strong regional performance, and we believe that foreign funds are returning to the region.

“Nonetheless, considering the escalating geopolitical tensions in Israel, we recommend investors to remain vigilant as this could lead to an increase in crude oil prices, potentially causing a spike in inflation and rate hike,” he said. 

Consequently, he anticipates the KLCI will continue to trade within 1,430-1,440 for the rest of the week, with the next resistance level at 1,460 and support at 1,415.

Meanwhile, SPI Asset Management managing partner Stephen Innes said the KLCI had a good day on Tuesday as investors sense the Fed will pause the November rate hikes, as higher US yields and tighter bank lending conditions will help the Fed tame inflation, hence there is no need for a rate hike.

“Locally, investors may sense some policy redistribution in the upcoming budget as the government cuts subsidy for the wealthy and provide cash handouts for the poor, which should be good for the economy. 

Market Daily Report: Energy counters lifts KLCI to end higher

KUALA LUMPUR (Oct 9): The FTSE Bursa Malaysia KLCI (FBM KLCI) ended in positive territory driven by energy-related stocks amid the stronger oil market due to tensions in the Middle East.

At 5pm, the barometer index rose 0.38 of a point to 1,417.26 from last Friday’s (Oct 6) close of 1,416.88. 

The index, which opened 0.18 of a point higher at 1,417.06 in the morning, moved between 1,415.8 and 1,420.71 during the day.

However, overall market breadth was negative with losers outpacing gainers 500 to 343 while 447 counters were unchanged, 1,020 untraded and nine others suspended.

Turnover strengthened to 2.88 billion units worth RM1.78 billion from 2.86 billion units worth RM2.09 billion last Friday.

SPI Asset Management managing partner Stephen Innes said the market’s risk-off sentiment continued to prevail amid an escalation of geopolitical risk in the Middle East.

“So the bursa traded with a risk-off bias. This is a typical global reaction that hurts most stock markets.

“Locally, there is likely some concerns over budget 2024 from foreign investors who are likely waiting for the budget to be tabled,” he said. 

On a positive note, he said stock markets tend to recover quickly once tension in the Middle East subsides and this was evidenced during the afternoon session. 

Market Daily Report: Bursa Malaysia ends marginally higher along with regional peers

KUALA LUMPUR (Oct 6): Bursa Malaysia closed marginally higher on Friday, due to bargain-hunting after the recent selloff amid a better performance by regional peers, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.28 points to 1,416.88 from Thursday’s closing of 1,415.60 The index, which opened 0.31 of a point easier at 1,415.29, moved between 1,415.28 and 1,419.96 during the day.

The market breadth was positive with gainers outpacing decliners 449 to 407, while 449 counters were unchanged, 1,011 untraded and 15 others suspended. Turnover dropped to 2.86 billion units worth RM2.09 billion, from 3.11 billion units worth RM2.25 billion on Thursday.

Regionally, Hong Kong’s Hang Seng Index expanded 1.58% to 17,485.98, Singapore's Straits Times Index gained 0.70% to 3,177.21, and South Korea’s Kospi added 0.21% to 2,408.73.

However, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI was unable to maintain its buying momentum, as investors remained cautious ahead of key US employment data later on Friday. 

"On the domestic front, despite the local market sentiment showing signs of improvement, our stance is to remain cautious, as we expect that the market volatility will remain elevated in the near term," he told Bernama. 

Among heavyweight counters, Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd gained one sen to RM8.77 and RM5.42 respectively, while Tenaga Nasional Bhd (TNB) added six sen to RM10.02, and Public Bank Bhd shed one sen to RM4.03. Petronas Chemicals Group Bhd was unchanged at RM7.10.

Of the actives, Sapura Energy Bhd was flat at five sen, KNM Group Bhd slid half-a-sen to 17 sen, and Top Glove Corp Bhd lost three sen to 75.5 sen. Sarawak Consolidated Industries Bhd put on half-a-sen to 50 sen. 

Market Daily Report: Bursa Malaysia ends flat on last-minute profit-taking

KUALA LUMPUR (Oct 5): Bursa Malaysia ended flat on Thursday on last-minute selling that halted the key index’s recovery, as investors adopted a wait-and-see attitude before taking further position ahead of the tabling of Budget 2024 next week, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.24 of-a-point to 1,415.60, from Wednesday’s closing of 1,415.84. 

The index, which opened 2.40 points lower at 1,413.44, moved between 1,412.17 and 1,420.61 during the day.

However, market breadth was positive with gainers outpacing decliners 453 to 355, while 503 counters were unchanged, 977 untraded and 15 others suspended.

Turnover increased to 3.11 billion units worth RM2.25 billion, from 3.02 billion units worth RM2.23 billion on Wednesday. 

Market Daily Report: Bursa ends in the red, KLCI down 0.29%

 KUALA LUMPUR (Oct 4): Bursa Malaysia ended trading in the red on Wednesday, taking a cue from the unabated volatility on Wall Street overnight, with its key index down by 0.29%, said a dealer.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) trimmed 4.17 points to 1,415.84 from Tuesday’s closing of 1,420.01.

The index, which opened 2.1 points weaker at 1,417.91, moved between 1,412.70 and 1,419.66 during the session.

On the broader market, decliners trounced gainers 730 to 255, while 395 counters were unchanged, 914 untraded and 24 others suspended.

Turnover decreased to 3.02 billion units worth RM2.23 billion from 3.22 billion units worth RM2.2 billion on Tuesday.

Apex Securities Bhd head of research Kenneth Leong said the weakness was also dragged by the recent batch of solid economic data that could reinforce the hawkish tone of the US Federal Reserve to keep interest rates higher for longer.

Looking ahead, he expects downward pressure to be sustained on the back of the absence of fresh catalyst on the domestic front.

“For now, investors will continue to adopt the wait-and-see approach ahead of the Budget 2024 tabling next week,” he said.

Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng anticipates that near-term market sentiment may stay turbulent, given the uncertainties surrounding regional and global performance.

“Nonetheless, pressure on local and regional stocks is expected to persist as interest rates and bond yields climb.

“As such, we anticipate the FBM KLCI to trend within the 1,410 to 1,425 range with immediate support at 1,415, and resistance at 1,430,” he noted. 

Market Daily Report: Bursa closes marginally higher amid mixed regional markets

KUALA LUMPUR (Oct 3): Bursa Malaysia ended slightly higher on Tuesday amid mixed regional markets.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.25 points to 1,420.01 from Monday’s closing of 1,418.76.

The index, which opened 0.18 of a point lower at 1,418.58, moved between 1,417.94 and 1,424.11 during the session. On the broader market, decliners beat gainers 545 to 401, while 425 counters were unchanged, 924 untraded and 23 others suspended.

Turnover increased to 3.22 billion units worth RM2.20 billion from 3.01 billion units worth RM1.8 billion on Monday.

SPI Asset Management managing director Stephen Innes noted that the local bourse bucked the mainly negative regional trend as surging global sovereign yields hurt risk sentiment. "Low valuations are attractive in Malaysia, but frankly it's difficult for investors to get excited locally given property market woes in China and the higher US (bond) yields,” he said.

Public Investment Bank Bhd sees the KLCI trading sideways between 1,430 and 1,400 points in the near term with a slight bearish bias, amid “entirely suppressed upward momentum”. "Support level for the index is at 1,400 while resistance is at 1,430,” it said in a note. 

At the close, heavyweight counters Maybank Bhd added two sen to RM8.77, CIMB Group Holdings Bhd gained one sen to RM5.41 and Tenaga Nasional Bhd firmed up seven sen to RM9.97.

Market Daily Report: Bursa ends at intraday low on cautious sentiment

KUALA LUMPUR (Oct 2): Bursa Malaysia ended at an intraday low on Monday due to cautious sentiment and a lack of fresh catalysts amid mixed performance by regional markets, said an analyst.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 5.41 points to 1,418.76 from last Friday’s close at 1,424.17.

The barometer index opened 0.10 points easier at 1,424.07 and moved up to 1,428.04 during the day.

On the broader market, decliners trumped gainers 632 to 285, while 427 counters were unchanged, 951 untraded and eight others suspended.

Turnover fell to 3.01 billion units worth RM1.8 billion from 3.03 billion units worth RM2.43 billion on Friday.

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said key regional indices finished mixed as investors were closely scrutinising economic data from China and Japan while awaiting the release of the US purchasing managers index (PMI) data later on Monday.

"China's markets are closed for the Golden Week holiday. Hong Kong and India’s markets are also closed for holidays,” he said.

Thong expects the market to remain cautious due to external factors such as the unpredictability of global central banks' monetary policies and the presence of inflationary pressures.

"Despite this caution, it's noteworthy that the benchmark index currently sits in an oversold position, leaving open potential bargain-hunting activities.

"We anticipate the FBM KLCI to trend within the range of 1,415 to 1,430 for the week with immediate support at 1,415 and resistance at 1,460,” he said.

At the close, heavyweights Maybank Bhd fell four sen to RM8.75, CIMB Group Holdings Bhd declined three sen to RM5.40, Tenaga Nasional Bhd slipped nine sen to RM9.90, Petronas Chemicals Bhd slid 12 sen to RM7.07, while Public Bank Bhd was unchanged at RM4.06.