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Market Daily Report: Bursa Malaysia's Key Index Ends At Intraday High

KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
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Market Daily Report: KLCI lower as Trump-Kim summit collapses, China reports worst PMI in three years

KUALA LUMPUR (Feb 28): The FBM KLCI fell 5.72 points or 0.33% to close at 1,707.73 as slimmer trade resolution hopes and weaker Chinese factory data dampened global investor sentiment. News that the US-North Korean summit in Hanoi collapsed with no agreement reached had also affected world market dynamics. Across Asian stock markets, Japan’s Nikkei 225 closed 0.79% lower while South Korea’s Kospi was down 1.76%. In China, the Shanghai Stock Exchange Composite fell 0.44% while Hong Kong's Hang Seng lost 0.43%. In Malaysia, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com the market weakness today was mainly attributable to US President Donald Trump and North Korean leader Kim Jong Un's summit, which was cut short with no agreement reached. “Besides, the weak China factory data also contributed to the weakness today, after its Purchasing Managers' Index shrank to a three-year low at 49.2 (in February 2019),” Leong sa...
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Market Daily Report: KLCI down 5.55 points amid India-Pakistan tension, US-China trade talk uncertainty

KUALA LUMPUR (Feb 27): The FBM KLCI closed 5.55 points or 0.32% lower today at 1,713.45 after the India-Pakistan geopolitical tension hit world stock markets and as US-China trade talk uncertainty affected sentiment. Reuters reported that Asian shares and Wall Street stock futures turned negative on Wednesday after Pakistan said it had shot down two Indian jets in its territory, sending investors out of riskier markets and into more conservative choices such as the yen. It was reported that Islamabad said on Wednesday it had carried out airstrikes in Indian-controlled Kashmir and shot down two Indian jets in its own airspace, capturing one of the pilots as the risk of conflict between the nuclear-armed neighbours escalates. It was reported that Indian bonds, stocks and the rupee all sold off. The flare up in geopolitical risks hit broader sentiment, driving investors out of stocks and into safe-haven assets with US stock futures slipping and the Japanese yen ga...
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Market Daily Report: FBM KLCI slips as China-US trade optimism dissipates

KUALA LUMPUR (Feb 26): The FBM KLCI fell 5.58 points or 0.32% today with Asian peers as optimism on US-China trade talks appeared short-lived. Malaysian shares also contended with lower crude oil prices. At 5pm today, the KLCI closed at 1,719.00 as investors were mindful that although US President Donald Trump said on Sunday he would delay a tariff hike on US$200 billion of Chinese imports, there is no guarantee that the delay will translate into a formal agreement that will benefit trade activities. Investors are “coming back to their senses,” Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com today. Reuters reported today that Trump said on Sunday he would delay a tariff hike on US$200 billion of Chinese imports in the clearest sign yet that both sides were making progress in the talks, but he also sounded a note of caution, saying a deal "could happen fairly soon, or it might not happen at all". It was report...
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