Skip to main content

Featured Post

Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
Post a Comment

Market Daily Report: Bursa MalaysiaTrims Gains But Market Breadth Solid With 798 Gainers

 KUALA LUMPUR, June 13 (Bernama) -- Bursa Malaysia's barometer index pared its earlier gains at the close, but market breadth remained strong with a mix of profit-taking and bargain-hunting activities.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.22 points to 1,610.17 compared to 1,608.95 at Wednesday’s close.

The FBM KLCI, which opened 3.63 points higher at 1,612.58, moved between 1,609.13 and 1,616.84.

Gainers outpaced decliners by 798 to 447, while 453 counters were unchanged, 703 untraded and 15 others suspended.

bursa06132024.jpg


Turnover narrowed to 5.91 billion units worth RM4.35 billion from Wednesday's 7.59 billion units worth RM5.28 billion.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said investors returned to hunt for bargains in utilities and banks after two days in negative territory, but opted to dump telecommunication counters after the previous rally.

"Nevertheless, market breadth was positive and daily trading volume remains strong. Most key regional bourses closed higher, and bond yields declined as investors weighed the cooling US inflation,” he said.

Thong said tech stocks remained the key focus for investors as excitement around artificial intelligence (AI) has driven Wall Street to record highs despite concerns about high interest rates and a slowdown in the world's largest economy.

“On the domestic front, we remain cautiously optimistic over the strong demand on tech, AI-related and supporting industries.

“Hence, we anticipate the benchmark index to trend within the range of 1,610-1,625 towards the weekend with immediate resistance at 1,620 and support at 1,610,” he said.

Among the heavyweights lifting the index, Tenaga Nasional increased 26 sen to RM14.14, Press Metal strengthened 17 sen to RM6.00, and YTL Power climbed 13 sen to RM5.16.

The heavyweight laggards included CelcomDigi which fell six sen to RM3.68 and Telekom Malaysia which shrank 20 sen to RM6.50.

Among the active counters, Sapura Energy was flat at 4.0 sen, JCY climbed 11.5 sen to 89.5 sen, MYEG went up five sen to RM1.14, Agmo rose 8.0 sen to 71 sen, and SNS Network dipped three sen to 84.5 sen.

On the index board, the FBM Emas Index increased 42.53 points to 12,425.19, the FBMT 100 Index gained 34.18 points to 11,987.64, and the FBM Emas Shariah Index added 55.86 points to 12,809.70.

The FBM 70 Index jumped 153.10 points to 18,286.56 and the FBM ACE Index firmed by 107.12 points to 5,842.78.

Sector-wise, the Financial Services Index advanced 6.36 points to 17,560.04, the Industrial Products and Services Index inched up 1.74 points to 200.87, and the Energy Index expanded by 32.94 points to 1,012.24, but the Plantation Index fell by 36.33 points to 7,027.82.

The Main Market volume fell to 3.62 billion units worth RM3.76 billion from 4.27 billion units worth RM4.23 billion on Wednesday.

Warrants turnover remained at 1.04 billion units but with a slight higher value of RM123.85 million compared with RM121.33 million yesterday.

The ACE Market volume dropped to 1.25 billion shares worth RM471.26 million from 2.27 billion shares worth RM921.62 million previously.

Consumer products and services counters accounted for 559.78 million shares traded on the Main Market, industrial products and services (736.86 million), construction (322.89 million), technology (695.66 million), SPAC (nil), financial services (95.70 million), property (379.04 million), plantation (25.57 million), REITs (13.74 million), closed/fund (32,700), energy (370.49 million), healthcare (165.94 million), telecommunications and media (59.31 million), transportation and logistics (86.03 million), utilities (106.64 million), and business trusts (663,100).


Source: Bernama

Labels:

Comments

Post a Comment

Popular posts from this blog

INTC Share Watch and News

Stock Info Market Monitor Company Profile Intel Corporation designs, manufactures, and sells integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in notebooks, netbooks, desktops, servers, workstations, storage products, embedded applications, communications products, consumer electronics devices, and handhelds. The company also offers system on chip products that integrate its core processing functionalities with other system components, such as graphics, audio, and video, onto a single chip. It also provides chipset products that send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive, and CD or DVD drives; motherboards that has connectors for attaching devices to the bus, and products designed for desktop, server, and workstation platforms; and wired and wireless connectivity products, including network adapters and embedded wireless cards used to translat
1 comment
Read more

Analysts See Asset Resilience of Bank of Chengdu Benefiting Hong Leong Bank

Analysts predict that the asset quality of Bank of Chengdu, in which Hong Leong Bank Bhd holds a 19.76% stake, will remain robust due to its strict risk management policies and proactive measures. Key Takeaways: Strong Risk Management Practices : According to CIMB, Bank of Chengdu has adopted a conservative risk culture, performing thorough assessments of location, developer reputation, project viability, and management integrity before financing property projects. The bank closely monitors early warning signals like construction progress, sales progress, budget overruns, and fund usage by developers to mitigate potential risks. Proactive Measures Against Property Slowdown : The bank's precautionary measures allowed it to reduce exposure to problematic property loans and exit risky loans before China's property market slowdown. This conservative approach is expected to benefit Hong Leong Bank by minimizing potential asset quality concerns. Continued Optimism and Buy Recommendat
Post a Comment
Read more

Investors Keep Buying US Junk Debt Despite Weak Protections

  When US-based construction material supplier Wilsonart issued a junk bond to raise US$500 million (RM2.13 billion) for an acquisition this summer, a research firm warned potential investors about the bond's weak protections. The bond’s covenants could allow the company to move valuable assets to another entity and raise more money, potentially disadvantaging bond investors, according to Covenant Review , a research firm. This warning comes amid growing concerns in credit markets as more companies engage in practices like "liability management exercises," where they borrow more against the same assets. These practices, often favoring some creditors over others, have been dubbed "creditor-on-creditor violence," prompting some creditors to unite to protect their interests. Despite the warnings, investors eagerly purchased Wilsonart's offering, underscoring a paradox in US credit markets. While investors face the consequences of weak covenants, they continu
Post a Comment
Read more