KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
Wall Street Recap:
- U.S. stocks saw a sharp decline on Thursday, with S&P 500 entering correction territory, down 1.39%, and the Nasdaq falling 1.96%.
- Trade tensions escalated, particularly over tariffs: President Trump threatened 200% tariffs on EU alcoholic beverages in retaliation to the EU’s proposed 50% duty on American whiskey.
- Despite positive inflation news, with the Producer Price Index staying flat, trade war fears overshadowed market sentiment.
Stocks to Watch:
- Intel (INTC.US) surged 14.6% after announcing the appointment of Lip-Bu Tan, former Cadence Design Systems CEO, as the new chief executive.
- Adobe (ADBE.US) faced a steep 13.9% drop due to disappointing Q2 guidance, overshadowing better-than-expected Q1 results.
Bursa Market Insight:
- The FTSE Bursa Malaysia KLCI rebounded 1.70%, reaching 1,510.03 after a five-day sell-off. The rebound was driven by bargain hunting, particularly in construction and banking sectors.
- The index entered oversold territory, encouraging investors to pick up undervalued stocks. However, concerns about slowing Western demand for Asian exports remain a key concern.
- Analysts expect the FBM KLCI to trade between 1,500 and 1,530 in the near term, with continued accumulation likely.
Healthcare Sector Outlook:
- RHB Investment Bank sees a strong 2025 for Malaysia’s healthcare sector, driven by investor demand and an ageing population. New government health insurance plans are boosting access, though DRG pricingchallenges may affect sentiment.
- KPJ Healthcare remains the top pick, with an “overweight” sector rating.
Stocks to Watch:
- UWC (5292.MY) reported a strong 2QFY2025, with net profit more than doubling year-on-year, benefiting from the semiconductor industry’s recovery. No dividend was declared.
- APOLLO (6432.MY) showed mixed results in 3QFY2025, with a slight revenue increase due to higher domestic sales, but net profit dropped sharply due to lower profit margins and the absence of one-time gains.
- HIBISCS (5199.MY) declared its third interim dividend, raising the total for FY2025 to seven sen per share, with confidence in meeting its dividend guidance based on oil price forecasts.
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