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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 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.
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Malaysia’s Exports Shrink for Second Straight Month in June, Trade Surplus Narrows Sharply

Malaysia’s exports fell  3.5% year-on-year  in June, marking the second consecutive month of contraction, as a steep drop in petroleum product shipments offset gains in electronics and agriculture.   June exports : Totalled  RM121.7 billion  (~$28.7 billion) Fell  3.9%  month-on-month Down from  -1.1% YoY  in May Key Drivers of Export Decline : Petroleum products :  -28.1% YoY  to RM8.38 billion Shipments to China  (Malaysia’s top trade partner):  -9.3% YoY  to RM14.84 billion Offsetting Gains : Electronics & electrical products  (over ⅓ of exports):  +1.3% YoY  to RM53.95 billion Palm oil & related products :  +24.7% YoY  to RM6.93 billion Imports : Rose  1.2% YoY  to  RM113.1 billion Driven by capital and consumption goods Purchases of intermediate goods declined Trade Surplus : RM8.6 billion , down  40.1% YoY Summary : June’s trade data highlights weakening globa...
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Malaysia’s Export Growth Strengthening in 2H2024

Economists anticipate Malaysia’s trade performance to strengthen in the second half of 2024, supported by a resurgence in the global technology cycle, resilient economic growth in major economies, and potential increases in commodity prices. Key Points: Positive Outlook: RHB Bank’s Economic and Market Strategy report predicts export-oriented sectors, such as electrical and electronic (E&E) products and commodity-based goods, will benefit from brighter global growth prospects. The global semiconductor market showed a 19.3% year-on-year increase in May 2024, driven by strong growth in the Americas and Asia-Pacific regions. June Export Data: June’s export growth decelerated to 1.7% y-o-y (RM126.05 billion), below the consensus estimate of 3.3%. The slowdown was attributed to sluggish exports of manufactured and agricultural goods amid high base effects from the previous year. Commodity Exports: RHB expects higher commodity prices to boost exports of petroleum and petroleum-based produ...
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