Skip to main content

Featured Post

Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec

World Stocks Gain, US Yields Fall at Start of Jam-Packed Week

 

Global stocks advanced, and longer-dated US yields slipped on Monday, kicking off a week filled with earnings reports and central bank meetings. Both the US and Britain may hint at potential interest rate cuts.

Key events this week include US jobs data for July, manufacturing surveys, and eurozone GDP and inflation data. Markets are on edge with Big Tech earnings and the Federal Reserve's next moves in focus. Big Tech stocks saw gains but pulled back from earlier highs.

Approximately 40% of S&P 500 companies, including Microsoft, Apple, Amazon, and Meta Platforms, will report earnings this week. "The market fears that if Big Tech disappoints, it could drag down the entire market," said Quincy Krosby, LPL Financial’s chief global strategist.

The US Treasury will outline its bond sale plans, while China's politburo meeting may introduce more stimulus following last week's surprise rate cuts.

Markets anticipate the Federal Reserve will hint at a September rate cut after its two-day policy meeting ends on Wednesday. Futures fully price in a quarter-point easing and imply a 12% chance of a 50 basis point cut, with 68 basis points of easing expected by December.

Goldman Sachs analysts expect the FOMC to hold steady but hint at a likely September rate cut. The Bank of Japan, meeting on Wednesday, is 70% likely to hike rates by 10 basis points. The Bank of England’s Thursday meeting shows a 51% probability of a rate cut.

Market Performance:

  • MSCI's global stocks gauge rose 0.13% to 804.51.
  • European shares eased, with the STOXX 600 index down 0.2%.
  • Nasdaq and S&P 500 rose, while Dow Jones fell.

S&P 500 gained 0.08% to 5,463.54, Nasdaq Composite rose 0.07% to 17,370.20, and Dow Jones fell 0.12% to 40,539.93. High earnings expectations mean any disappointment could affect mega-cap valuations and sector volatility, noted Chris Weston of Pepperstone.

Currency and Commodities:

  • Dollar index rose 0.18% to 104.56.
  • Euro fell 0.33% to $1.0821.
  • Japanese yen traded at 153.99.

US 10-year note yields fell 3 basis points to 4.171%. Gold prices slipped with spot prices down 0.08% to $2,383.64 an ounce, and US gold futures settled 0.1% lower at $2,377.80.

Oil prices fell amid volatility. Brent crude settled down 1.7% at $79.78 a barrel, and US crude ended 1.8% lower at $75.81 a barrel, following tensions in the Middle East.

Comments

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

3M Raises Profit Forecast After Beating Quarterly Estimates on Electronics Demand

3M Co raised the lower end of its full-year adjusted profit forecast after strong demand for electronics and industrial products helped the company surpass quarterly profit expectations. Shares of 3M were up 4.2% at $140.5 in pre-market trading. An increase in demand for electronics used in vehicles and mobile phones boosted profits for the company, which had previously faced challenges as high inflation led consumers to delay major purchases. The industrial sector is also expected to benefit from the recent US Federal Reserve decision to cut borrowing costs in September, encouraging more consumer spending. 3M has implemented cost-cutting measures, including job reductions and spinning off its healthcare business, to counter the impact of a demand slowdown . Key highlights from the report: Sales in the transportation and electronics segment grew 1.8% year-on-year. Sales in the safety and industrial segment , which produces adhesives for industrial use, increased by 0.5% . 3M&

Key Corporate Updates from Malaysia

Ekovest Bhd : Major shareholder Tan Sri Lim Kang Hoo is considering selling his toll-road business, Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi), for up to RM5 billion. Ekovest owns 60% of Kesturi, with the remainder held by the Employees Provident Fund (EPF). Eco World Development Group Bhd : Through its subsidiary Mutiara Balau Sdn Bhd, EcoWorld is acquiring 847.25 acres in Semenyih, Selangor for RM742.41 million to develop Eco Forest 2, a project with an estimated RM4.6 billion in gross development value. Mah Sing Group Bhd : Mah Sing has purchased 5.24 acres on Old Klang Road for RM113 million to build M Aurora, a transit-oriented development with an estimated RM660 million gross development value, anticipated for launch in early 2025. Pentamaster Corp Bhd : The company’s third-quarter net profit dropped 49.9% to RM11.77 million, impacted by lower sales in its automated test equipment division and foreign exchange losses. Sentral REIT : The REIT saw a 25