MONEY MASTER

KUALA LUMPUR (June 29): The FBM KLCI staged a technical rebound today to snap a four-day losing streak, finishing 25.82 points or 1.55% higher at 1,691.50 points, in tandem with the regional markets. Though it opened lower at 1,665.04 points this morning, the benchmark index rose steadily to briefly touch its intra-day peak of 1,701.65 points by noon break. At 5pm, the benchmark index pared some gains to settle below the 1,700 level. Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com when contacted that the surge today appears to be a technical rebound, after a period of downturn in the past two weeks impacted by external factors, especially the US-China trade spat. Excluding a marginal 0.1% gain it eked out on June 22, the FBM KLCI had been on a declining trend for the past 13 trading days. "The fundamentals of the Malaysian equity market is still intact," he said. "It is also because today is the last...

KUALA LUMPUR (June 28): The FBM KLCI erased earlier gains today to close down 0.4 points or 0.02% amid thin trading activity as investors stayed on the sidelines ahead of the first half window dressing activities. Malaysian stocks extended their loss for the fourth consecutive day to end the day at 1,665.68 points, after climbing to an intraday high of 1,670.85. Trading volume fell to 1.56 billion shares worth RM1.66 billion compared with yesterday’s 2.01 billion shares worth RM1.99 billion. "The market was a bit quiet. There was an absence of foreign sellers, but the bad news was the volume among bargain hunters was weak," TA Securities Research analyst Stephen Soo told theedgemarkets.com. "One possible explanation could be that investors are saving their bullets for the upcoming window dressing for the first half of the year," he added. Decliners led gainers by 419 counters against 365, while 650 counters were unchanged. British Am...

KUALA LUMPUR (June 27): Malaysian stocks extended their loss for the third consecutive day, dragged by telecommunication stocks and in line with broader Asia as further falls in Chinese equities and the yuan sent ripples across the region. The key FBM KLCI finished 9.78 points or 0.58% lower at 1,666.08 points today. The benchmark index was also dragged lower by a decline in blue-chip stock Malayan Banking Bhd, whose market value dropped below the RM100 billion mark to RM96.08 billion at closing bell. The counter closed at RM8.68, down 32 sen or 3.56%. According to Hong Leong Investment Bank Research analyst Loui Low Ley Yee, the imminent downward pricing of broadband packages that could intensify competition among telco players remained a concern for investors. Shares in Telekom Malaysia Bhd (down 1.63% to RM3.01), Maxis Bhd (down 3.47% to RM5.29), Axiata Bhd (down 0.98% to RM4.05) and DiGi.Com Bhd (down 1.93% to RM4.07) closed lower today. "Wh...