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 Malaysia Bounces Back On Upbeat Momentum

KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia bounced back from yesterday’s losses to end higher today in sync with the upbeat performance in the regional markets. 

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.63 points or 0.85 per cent to 1,625.57 from yesterday's close of 1,611.94.

The FBM KLCI opened 1.39 points higher at 1,613.33 and moved between 1,611.60 and 1,627.94 throughout the day.

bursa07312024.jpg


On the broader market, losers thumped gainers 602 to 480, with 494 counters unchanged, 873 untraded, and 54 others suspended.

Turnover increased to 4.42 billion units worth RM3.62 billion from yesterday's 4.19 billion units worth RM3.11 billion.

UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said the FBM KLCI closed higher today despite mixed reactions to the Bank of Japan's (BoJ) hawkish decision and contrasting results from tech bellwether Microsoft and chipmaker Advanced Micro Devices, Inc., suggesting a divide in the artificial intelligence landscape.

“Today's performance was led by the financial sector, supported by the strength of the ringgit and potential interest rate cuts in the United States (US) this quarter.

“Additionally, cautious sentiment has driven investors towards defensive sectors like financials and utility,” he told Bernama. 

Mohd Sedek said the hawkish decision by the BoJ today impacted Asian markets, including Malaysia -given that today's decision comes only four months after the first hike, and the market perceives the BoJ as more hawkish than previously thought.

“Rising wages offer room for optimism that growth will recover in the coming quarters. Expectations of accelerating inflation also open the path for monetary policy normalisation by the BoJ,” he added. 

Therefore, he said Bursa Malaysia is expected to be volatile tomorrow as investors assess US tech companies’ earnings reports, new US rules on foreign chip equipment exports to China, and the Federal Reserve’s meeting outcome tonight.

Among heavyweights, Maybank added 14 sen to RM10.22, Public Bank edged up 3.0 sen to RM4.21, CIMB Group gained 22 sen to RM7.43, IHH Healthcare perked up 8.0 sen to RM6.30, while Tenaga Nasional slid 2.0 sen to RM14.08.

Of the actives, BWYS edged up 1.0 sen to 35 sen, Hubline inched up half-a-sen to 13 sen, Velesto Energy gave up half-a-sen to 21.5 sen, Top Glove slid 6.0 points to RM1.03, and Velocity Capital Partner shaved off 1.0 sen to 6.5 sen.  

On the index board, the FBM Emas Index climbed 48.51 points to 12,517.21, the FBMT 100 Index put on 49.12 points to 12,109.16, the FBM Emas Shariah Index trimmed 19.14 points at 12,762.46, the FBM 70 Index dropped 116.94 points to 18,488.08, and the FBM ACE Index erased 6.79 points to 5,661.38.

Sector-wise, the Financial Services Index soared 217.65 points to 18,173.08, the Plantation Index was 34.59 points higher at 7,203.64, the Industrial Products and Services Index edged up 0.12 of-a-point to 192.0, and the Energy Index fell 9.98 points to 953.44.

The Main Market volume expanded to 2.62 billion units valued at RM3.24 billion from 2.47 billion units valued at RM2.77 billion on Tuesday.

Warrants turnover advanced to 1.16 billion units worth RM155.05 million from 1.03 billion units worth RM117.90 million yesterday.

The ACE Market volume shrank to 632.07 million shares valued at RM221.80 million from 688.13 million shares valued at RM221.85 million previously.  

Consumer products and services counters accounted for 314.57 million shares traded on the Main Market, industrial products and services (725.72 million), construction (270.22 million), technology (232.09 million), SPAC (nil), financial services (115.55 million), property (192.18 million), plantation (30.37 million), REITs (18.08 million), closed/fund (273,200), energy (278.48 million), healthcare (248.20 million), telecommunications and media (45.56 million), transportation and logistics (93.12 million), utilities (58.90 million), and business trusts (803,600 million).


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