MONEY MASTER

KUALA LUMPUR (June 27): The FBM KLCI continued its losing streak for the third day in a row due to profit-taking activities in selected heavyweights, in anticipation of the G20 summit this evening. The benchmark index closed 0.57 points or 0.03% lower at 1,672.13. The index was mostly in the positive territory during the second half of the trading session today, before the last minute selling. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the KLCI has erased all its earlier gains in the final trading hour as investors took profits in selected index heavyweights. "The negative performance today is as investors opt to stay out of the market due to the uncertainty of the Sino-US talks' progress," Leong told theedgemarkets.com.    He noted that the weakness today was also in line with the negative performance across other Asian benchmark indices. Among decliners, Maxis Bhd fell 23 sen or 3.97% to close at RM5.57. Overall, some...

KUALA LUMPUR (June 27): The FBM KLCI today closed 0.11% lower due to last-minute selling in selected heavyweights. This led to the KLCI ending 1.79 points lower at 1,672.7 points. Hong Leong Investment Bank Bhd's head of retail research Loui Low told theedgemarkets.com that the last-minute selling was within a narrow range as traders have adopted a risk-averse mode ahead of the two-day G20 meeting, which will begin tomorrow. “The KLCI has been trading sideways over the couple of days ahead of the US-China trade talks. Not much activity has been seen in the market as traders are avoiding the volatility ahead,” said Low. Notably, nearly half of the bluechips settled in the red today, led by Petronas Gas Bhd as the biggest decliner after losing 40 sen or 2.29% to close at RM17.10. Petronas Gas was also the third biggest loser across Bursa Malaysia today. The local stock exchange saw a total of 1.84 billion shares, worth RM1.9 billion traded throughout the d...

KUALA LUMPUR (June 26): The FBM KLCI lost ground today as market sentiment was weak ahead of the G20 summit later this week. The benchmark index closed 2.12 points or 0.13% lower at 1,674.49. An analyst said he believes the market would not see any big movements in the next two days. “Investors are turning risk averse ahead of the G20 summit," said Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng. "This is for risk management purpose." Buyers are not willing to take any position now, Wong told theedgemarkets.com.  “We view that it (US-China trade dispute) is unlikely to have a full resolution [from the G20 meeting],” added Wong, noting that as long as there is no escalating tension between the US and China, then that will be “a good news”. Among the days's leading decliners were KLCI components Press Metal Aluminium Holdings Bhd and Tenaga Nasional Bhd (TNB). Both closed 1.57% lower at RM4.38 and RM13.78 respectively. ...