Skip to main content

Posts

Showing posts from March, 2024

Featured Post

Russia Holds Key Rate at 21% Amid Surging Inflation

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

Market Daily Report: Bursa closes higher on bargain hunting

KUALA LUMPUR (March 29): Bursa Malaysia closed marginally higher on Friday, hitting an intraday high as bargain-hunting activities emerged following a few lacklustre trading sessions earlier. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 5.47 points to 1,536.07 from Wednesday’s (March 27) close of 1,530.6.  The benchmark index opened 1.51 points higher at 1,532.11 and moved between 1,532.03 and 1,542 throughout the day.   On the broader market, gainers outpaced losers 516 to 469, while 502 counters were unchanged, 833 untraded, and 55 others suspended. Turnover narrowed to 3.06 billion units worth RM2.59 billion from 3.75 billion units worth RM3.1 billion on Wednesday. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said investors are still staying cautious despite some improvement in market sentiment. “Recognising that investors’ expectations fluctuate over time. We expect the benchmark index to remain in its sideways patt...

Market Daily Report: Bursa closes lower in tandem with regional peers

 KUALA LUMPUR (March 27): Bursa Malaysia closed lower on Wednesday as the short-term market sentiment remains jittery amid the uncertain global performance, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 7.82 points to 1,530.6 from Tuesday’s close of 1,538.42.   The benchmark index opened 1.91 points lower at 1,536.51 and moved in a tight range between 1,528.52 and 1,536.58 throughout the day.   On the broader market, losers outpaced gainers 645 to 422, while 450 counters were unchanged, 821 untraded, and 74 others suspended. Turnover narrowed to 3.75 billion units worth RM3.1 billion from 3.83 billion units worth RM3.04 billion on Tuesday. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the KLCI closed lower after a lacklustre trading session in line with the regional market performance. "The key regional indices closed mostly lower ahead of the United States [US] economic data and US Federal Reserve [Fed] chai...

Market Daily Report: Bursa closes marginally higher on late buying of blue chips

KUALA LUMPUR (March 26): Bursa Malaysia closed higher on Tuesday, buoyed by late buying in blue-chip stocks led by Maybank Bhd, MISC Bhd, and Petronas Chemicals Group Bhd, amid the mostly weaker performance in regional peers.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up by 0.88 of a point to 1,538.42 from Monday’s close of 1,537.54.  The benchmark index opened 1.48 points lower at 1,536.06 and moved in a tight range between 1,532.07 and 1,540.51 throughout the day.   On the broader market, gainers beat losers 570 to 472, while 491 counters were unchanged, 807 untraded, and 47 others suspended. Turnover increased to 3.83 billion units worth RM3.04 billion from 3.59 billion units worth RM2.49 billion on Monday. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that the prevailing general sentiment in the stock market is still cautious. "Investors are awaiting key statistical updates in the United States (US), particularly the ...

Market Daily Report: Bursa closes lower on selling pressure

KUALA LUMPUR (March 25): Bursa Malaysia closed lower on Monday, weighed by selling pressure in telecommunication, plantation, and gaming stocks. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 4.85 points to 1,537.54 from last Friday’s (March 22) close of 1,542.39.  The benchmark index opened 2.16 points lower at 1,540.23, and moved in a tight range between 1,532.73 and 1,540.23 throughout the day.   On the broader market, losers beat gainers 587 to 476, while 456 counters were unchanged, 817 untraded, and 37 others suspended. Turnover fell to 3.59 billion units worth RM2.49 billion from 5.08 billion units worth RM2.69 billion on Friday. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the the KLCI faced selling pressure as investors shifted their focus on small-cap stocks in the transportation & logistics, property, and construction sectors. “Major regional indices also ended lower as sentiment remained cautious ahead of key econom...

Market Daily Report: Bursa recoups earlier losses to eke out minor gains

KUALA LUMPUR (March 22): Bursa Malaysia managed to recover from earlier losses to end the week marginally higher on Friday on late buying, despite the mostly downbeat performance in regional markets, said an analyst.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up by 0.98 of a point to 1,542.39 from Thursday’s close of 1,541.41.  The benchmark index, which opened 0.15 of a point better at 1,541.56, moved in a tight range between 1,537.92 and 1,543.84 throughout the day.    On the broader market, losers beat gainers 538 to 544, while 475 counters were unchanged, 778 untraded, and 18 others suspended. Turnover increased to 5.08 billion units worth RM2.69 billion from 4.02 billion units worth RM2.94 billion on Thursday. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the KLCI moved within a tight range on Friday as investors pivoted towards smaller-cap stocks, particularly those within the property, construction, and technolo...

Market Daily Report: Bursa rebounds after two days of losses on bargain hunting

KUALA LUMPUR (March 21): Bursa Malaysia rebounded from two consecutive days of declines to close higher on Thursday, spurred by bargain-hunting activities amid the recent market sell-off.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.62 points to 1,541.41 from Wednesday’s close of 1,535.79. The benchmark index, which opened 3.33 points firmer at 1,539.12, moved between 1,534.66 and 1,542.33 throughout the day.   Market breadth was positive with gainers leading decliners 631 to 451, while 466 counters were unchanged, 788 untraded, and 11 others suspended. Turnover increased to 4.02 billion units worth RM2.94 billion from 3.82 billion units worth RM2.66 billion on Wednesday. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said key regional indices closed mostly higher, buoyed by strong corporate earnings by China's technology companies, while the US Federal Reserve opted to keep interest rates steady and signalled potential considerat...

Market Daily Report: Bursa continues slide ahead of FOMC decision on Wednesday

KUALA LUMPUR (March 20): Bursa Malaysia continued its downtrend to close lower for the second consecutive day as the markets anxiously awaited the US Federal Open Market Committee (FOMC) decision later in the night. The FTSE Bursa Malaysia KLCI (FBM KLCI) also remained in consolidation mode due to a correction following the recent prolonged rally.  At 5pm, the KLCI fell 9.17 points to 1,535.79 from Tuesday’s close of 1,544.96. The benchmark index, which opened 0.1 of a point firmer at 1,545.06, moved between 1,535.77 and 1,546 throughout the day.  On the broader market, decliners and gainers were even at 509 to 509, while 484 counters were unchanged, 791 untraded, and 11 others suspended. Turnover slid to 3.82 billion units worth RM2.66 billion from 4.06 billion units worth RM3.09 billion on Tuesday. Interpacific Asset Management chief economist and fund manager Datuk Dr Nazri Khan said that the KLCI slipped to a physical level of 1,550 as the selling ...

Market Daily Report: Bursa snaps three-day winning streak to close lower

KUALA LUMPUR (March 19): Bursa Malaysia ended trading at an intraday low and snapped its three-day winning streak on Tuesday, following the lacklustre performance seen across the region, said an analyst.  At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 8.68 points to 1,544.96 from Monday’s close of 1,553.64. The benchmark index opened 2.05 points easier at 1,551.59 and reached its intraday high of 1,552.1 during the mid-morning session. However, market breadth was positive with gainers leading decliners 510 to 502, while 486 counters were unchanged, 796 untraded and nine others suspended. Turnover declined to 4.06 billion units worth RM3.09 billion from 4.24 billion units worth RM2.79 billion on Monday.   Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said that key regional indices ended mostly lower due to concerns about potentially hawkish signals from the US Federal Reserve (Fed). Hong Kong’s Hang Seng Index eased 1.24% to 16,...

Market Daily Report: Bursa ends marginally higher on cautious sentiment

KUALA LUMPUR (March 18): Bursa Malaysia closed marginally higher on Monday as investors exercised caution before a series of significant central bank meetings this week, said an analyst.  The markets are awaiting the US Federal Reserve (Fed) and the Bank of Japan’s (BOJ) decisions on interest rates. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 0.81 of a point to 1,553.64 from Friday’s (March 15) close of 1,552.83.  The benchmark index, which opened 5.38 points weaker at 1,547.45, moved between 1,544.32 and 1,557.33 throughout the day.  Market breadth was positive with gainers leading decliners 546 to 480, while 476 counters were unchanged, 805 untraded and 22 others suspended. Turnover declined to 4.24 billion units worth RM2.79 billion from 4.53 billion units worth RM4.82 billion last Friday.  Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said most key regional indices closed in positive territory following Beijing's anno...

Market Daily Report: Late buying in telcos lift Bursa to end at intraday high

  KUALA LUMPUR (March 15): Late buying in selected heavyweights, led by telecommunications and media counters pushed Bursa Malaysia to end at its intraday high for the second day running on Friday, despite the downbeat sentiment on the regional markets, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 9.08 points to 1,552.83 from Thursday's close of 1,543.75. The benchmark index, which opened 6.8 points weaker at 1,536.95, slipped to its lowest point at 1,535.47 in the early session. On the broader market, gainers beat decliners 521 to 474, while 518 counters were unchanged, 810 untraded and 38 others suspended. Turnover rose to 4.53 billion units worth RM4.82 billion from 4.34 billion units worth RM2.76 billion on Thursday. Telekom Malaysia Bhd and CelcomDigi Bhd were among the top contributors to the gains in the benchmark index on Friday, rising 51 sen and 12 sen each to RM6.50 and RM4.41, respectively, contributing a total of 5.58 points. Ra...

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

KUALA LUMPUR (March 14): Late buying in selected industrial products and services as well as plantation counters pushed Bursa Malaysia to end at its intraday high on Thursday, amidst the mixed sentiment on regional bourses, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.62 points to 1,543.75 from Wednesday's close of 1,538.13. The benchmark index, which opened 2.53 points weaker at 1,535.6, slipped to its lowest point at 1,533.8 in the early morning session. On the broader market, gainers beat decliners 513 to 478, while 493 counters were unchanged, 830 untraded and 26 others suspended. Turnover rose to 4.34 billion units worth RM2.76 billion from 4.18 billion units worth RM2.73 billion on Wednesday. Petronas Chemicals Group Bhd and Sime Darby Plantation Bhd were among the top contributors to the gains in the benchmark index, rising six sen each to RM6.87 and RM4.39, respectively, contributing a total 1.49 points. Rakuten Trade Sdn Bhd equity resea...

Market Daily Report: Bursa snaps four-day winning streak to end 1% lower

KUALA LUMPUR (March 13): Bursa Malaysia snapped its four-day winning streak to close lower on Wednesday, driven by continuous profit taking in heavyweights led by plantation stocks, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 16.43 points or 1.05% to 1,538.13 from Tuesday's close of 1,554.56. The benchmark index, which opened 11.05 points weaker at 1,543.51, moved between 1,536.76 and 1,544.74 throughout the day. On the broader market, however, gainers beat decliners 519 to 478, while 516 counters were unchanged, 801 untraded and 12 others suspended. Turnover fell to 4.18 billion units worth RM2.73 billion from 4.28 billion units worth RM2.93 billion on Tuesday. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said key regional indices saw gains due to a substantial influx of global funds, while investors await US inflation data which is poised to influence the timing of the Federal Reserve's rate cut. “With the upswing in...

Market Daily Report: Bursa extends gains to close higher for fourth straight day

KUALA LUMPUR (March 12): Bursa Malaysia extended its gains to close higher for the fourth straight day on Tuesday, supported by continuous buying in most heavyweights amidst the recovery tone in regional markets, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 9.85 points to 1,554.56 from Monday's close of 1,544.71. The benchmark index, which opened 0.24 of a point higher at 1,544.95, moved between 1,541.36 and 1,556.71 throughout the day. On the broader market, gainers beat decliners 505 to 484, while 479 counters were unchanged, 802 untraded, and 12 others suspended. Turnover rose to 4.28 billion units worth RM2.93 billion from 3.64 billion units worth RM2.71 billion on Monday. Rakuten Trade Sdn Bhd equity research vice president, Thong Pak Leng said key regional indices saw gains due to a substantial influx of global funds, while investors await US inflation data which is poised to influence the timing of the US Federal Reserve's rate cu...

Market Daily Report: Bursa closes higher for third straight day

KUALA LUMPUR (March 11): Bursa Malaysia closed higher for the third straight trading day on Monday, supported by continuous buying in most heavyweights, amid the mixed tone on the regional markets, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.85 points to 1,544.71 from last Friday's (March 8) close of 1,539.86. The benchmark index, which opened 2.15 points higher at 1,542.01, moved within a narrow range between 1,540.77 and 1,547.48 throughout the day. On the broader market, gainers beat decliners 518 to 460, while 468 counters were unchanged, 813 untraded, and 12 others suspended. Turnover rose to 3.64 billion units worth RM2.71 billion from 3.03 billion units worth RM2.73 billion last Friday. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the KLCI finished higher with strong buying in gaming, telecommunications and commodity-related stocks while the key regional indices trended mostly lower following a negativ...

Market Daily Report: Bursa closes marginally higher in line with regional trend

  KUALA LUMPUR (March 8): Bursa Malaysia closed marginally higher on Friday in line with the positive tone from the regional markets, ahead of the US Nonfarm Payrolls data announcement later on Friday night. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 4.03 points to 1,539.86 from Thursday's close of 1,535.83. The benchmark index, which opened 0.69 of a point higher at 1,536.52, moved within a narrow range between 1,535.32 and 1,541.15 throughout the day. On the broader market, decliners beat gainers 495 to 486, while 425 counters were unchanged, 870 untraded, and 29 others suspended. However, turnover fell to 3.03 billion units worth RM2.73 billion from 3.65 billion units worth RM2.66 billion on Thursday. Mohd Sedek Jantan, head of wealth research and advisory and designated portfolio manager at UOB Kay Hian Wealth Advisors, said the KLCI is poised for potential upward movement ahead of the release of crucial US jobs data on Friday night. “Investors ...

Market Daily Report: Bursa closes higher as OPR kept unchanged

KUALA LUMPUR (March 7): Bursa Malaysia closed higher on Thursday as risk appetite was lifted after Bank Negara Malaysia (BNM) kept the overnight policy rate (OPR) unchanged at 3%, a move seen as supportive of the domestic economy. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 4.32 points to 1,535.83 from Wednesday's close of 1,531.51. The benchmark index, which opened 0.19 of a point higher at 1,531.7, moved within a narrow range between 1,531.7 and 1,539.6 throughout the day. On the broader market, gainers outnumbered decliners 546 to 452, while 430 counters were unchanged, 847 untraded and 29 suspended. However, turnover fell to 3.55 billion units worth RM2.60 billion from 3.65 billion units worth RM2.66 billion on Wednesday. Mohd Sedek Jantan, head of wealth research and advisory and a designated portfolio manager at UOB Kay Hian Wealth Advisors, said the market was buoyed by the Malaysian central bank’s decision to maintain the OPR at 3%, in line with analys...

Market Daily Report: Bursa ends marginally lower for second day running

KUALA LUMPUR (March 6 ): Bursa Malaysia continued to decline to close lower for a second consecutive day on Wednesday in lacklustre trading as investors took profits after the recent rally against the backdrop of significant data releases and economic meetings this week, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 5.47 points to 1,531.51 from Tuesday's close of 1,536.98. The benchmark index, which opened 4.53 points lower at 1,532.45, moved within a narrow range between 1,527.92 and 1,535.2 throughout the day. On the broader market, losers outpaced gainers 588 to 422, while 439 counters were unchanged, 814 untraded and 13 others suspended. Turnover fell to 3.65 billion units worth RM2.66 billion from 3.81 billion units worth RM2.8 billion the previous day.

Market Daily Report: Bursa recoups most of earlier losses to close slightly lower

KUALA LUMPUR (March 5): Bursa Malaysia recouped most of its earlier losses to close slightly lower on Tuesday as late buying in gaming, telecommunications and banking stocks supported the benchmark index, amid the downbeat performance in most regional markets, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 2.29 points to 1,536.98 from Monday's close of 1,539.27. The benchmark index, which opened 1.35 points lower at 1,537.92, moved between 1,518.84 and 1,537.92 throughout the day. On the broader market, losers outpaced gainers 654 to 380, while 450 counters were unchanged, 767 untraded and 13 others suspended. Turnover rose to 3.81 billion units worth RM2.8 billion from 3.32 billion units worth RM2.56 billion the previous day. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said that the key regional indices mostly ended lower, seeing strong selling in technology stocks following a negative cue from Wall Street overnight. B...

Market Daily Report: KLCI pares earlier gains to end marginally higher

KUALA LUMPUR (March 4): Bursa Malaysia pared earlier gains to close marginally higher on Monday as selling emerged in late trading while most regional markets also eked out narrow gains. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.25 points to close at 1,539.27 from last Friday's (March 1) close of 1,538.02. The benchmark index, which opened 1.08 points firmer at 1,539.1, moved between 1,537.03 and 1,547.1 throughout the day. On the broader market, losers outpaced gainers 536 to 426, while 461 counters were unchanged, 837 untraded and 23 others suspended. Turnover fell to 3.32 billion units worth RM2.56 billion from 4.82 billion units worth RM3.09 billion last Friday. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the key regional indices also recorded narrow gains to finish slightly higher as investors were cautiously awaiting updates on China's National People’s Congress. The event aims to boost the world's second-largest e...

Market Daily Report: Bursa closes lower on profit-taking activities

KUALA LUMPUR (March 1): Bursa Malaysia struggled to make significant progress above the 1,550 level and ended lower on Friday due to profit-taking activities following recent gains. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 13.42 points to close at 1,538.02 from Thursday’s close of 1,551.44.  The benchmark index, which opened 1.72 points firmer at 1,553.16, moved between 1,537.11 and 1,556.22 throughout the day. On the broader market, losers outpaced gainers 679 to 396, while 448 counters were unchanged, 737 untraded and 23 others suspended. Turnover narrowed to 4.82 billion units worth RM3.09 billion versus 5.34 billion units worth RM7.01 billion on Thursday. SPI Asset Management managing partner Stephen Innes said in the current market landscape, there's a noticeable disparity among different markets. “While major US indices, particularly those dominated by mega tech companies in the artificial intelligence sector, continue to hit record highs desp...