KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Hokuhoku Financial Group: Strongest-Performing Japanese Bank Eyes BOJ Outlook With Short-Term JGB Strategy
Key Takeaways: Hokuhoku Financial Group shares are up 95% YTD, the best among Japanese banks in the Topix Banks Index. Management expects the Bank of Japan (BOJ) to raise rates in October or December, positioning its portfolio toward short-dated JGBs to mitigate rate risk. Net income for FY2024 was ¥39.1 billion, the highest since FY2007, underpinning expectations of stronger shareholder returns. Strategic execution of synergies from its 2004 merger remains a key investor focus. Positioning for Higher Rates Hokuhoku Financial Group Inc., the top-performing Japanese bank stock in 2025, is shifting its securities portfolio toward short-dated Japanese government bonds (JGBs). President Hiroshi Nakazawa anticipates a BOJ rate hike later this year, in line with increasing analyst forecasts of an October or December move. By holding shorter-duration JGBs, Hokuhoku aims to reduce mark-to-market volatility and hold bonds to maturity without realizing losses. The group’s securities book s...