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KUALA LUMPUR (Nov 27): The FBM KLCI closed down 17.02 points or 1% at 1,684.97, dragged down mainly by Genting Malaysia Bhd (GENM) and Genting Bhd's share price drop. China-US trade war concerns and Brent crude oil's price fall below US$60 a barrel could have also hit Malaysian market sentiment. Genting Bhd owns a 49.45% stake in GENM. theedgemarkets.com, quoting GENM, reported today that Fox Entertainment Group LLC, Twentieth Century Fox Film Corp, FoxNext LLC (collectively referred to as FOX) issued a notice, in which FOX terminated a Memorandum of Agreement (MoA) with GENM and claimed some US$46.2 million (about RM193.6 million) in accelerated payments. It was reported that GENM has pursued cause of action against FOX for breach of contract, and breach of the implied covenant of good faith and fair dealing, among others. At 5pm, GENM closed down 60 sen or 16.67% at RM3 while Genting Bhd fell 52 sen or 7.54% to RM6.38. GENM was the top decliner, ...

KUALA LUMPUR (Nov 22): The FBM KLCI rose 0.25 point or 0.01% to close at 1,695.62 after volatile trade amid concerns on rising US interest rates besides global trade tension and economic growth. At 5pm, the KLCI closed at 1,695.62 after rising to its intraday high at 1,701.74 and falling to its intraday low at 1,689.03. CIMB Research analyst Nick Foo Mun Pang said CIMB expects the KLCI to see sideways movement in the near term, until there is greater clarity on the market’s direction. “The index will see a range bound move until a clear breakout either up or down takes place,” Foo wrote in a note today. Across Bursa Malaysia today, 1.75 billion shares worth RM1.44 billion were exchanged. Top gainer was Fraser & Neave Holdings Bhd while leading decliner was Pos Malaysia Bhd. Rising US interest rates, besides global trade tension and economic growth concerns dictated Asian share trades. Reuters reported that Asian shares seesawed in cautious trading on ...

KUALA LUMPUR (Nov 21): The FBM KLCI fell 15.34 points or 0.9% today to close at 1,695.37 after US equities dropped overnight on Tuesday with crude oil prices amid world economic growth concerns. Reuters reported that US stocks sold off for a second day on Tuesday as energy shares dropped with oil prices, and retailers including Target and Kohl's sank after weak earnings and forecasts, fueling worries about economic growth. Today, it was reported that Asian stocks slipped as intensifying concerns about global economic growth gripped financial markets, sending Wall Street shares tumbling and driving the safe haven dollar up from a two-week low. In Malaysia, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told  theedgemarkets.com: “The KLCI was dragged down by the poor performance seen overnight in US markets, which reflects the globally weak sentiment on equities." At 5pm, worst-hit among the 30 KLCI stocks, in percentage terms, was...