MONEY MASTER

KUALA LUMPUR (Nov 12): The FBM KLCI closed 1.58 points or 0.1% higher at 1,609.73 today, with Asian shares ahead of US President Donald Trump's trade policy speech and as Bursa Malaysia plantation counters rose. Analysts said the KLCI had also closed higher on positive sentiment from Malaysia's improved wholesale and retail trade sales data for Sept 2019. At 5pm, the KLCI pared gains at 1,609.73, after rising to its intraday high at 1,614.21. Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com that the KLCI's increase was due to Malaysia's wholesale and retail trade sales data and strong trading interest seen in plantation counters, after crude palm oil (CPO) prices rose to a two-year high yesterday. Today, Public Investment Bank Bhd analyst Chong Hoe Leong wrote in a note that Public Investment believes CPO prices may surpass RM2,800 a tonne in the coming months, due to the tightening of CPO supplies in global ...

KUALA LUMPUR (Nov 11): The FBM KLCI closed 1.58 points or 0.1% lower today on profit taking and as investors weighed fresh violence in the Hong Kong protest and watched the progress of US-China trade talks. At Bursa Malaysia, the KLCI closed at 1,608.15, after paring losses sharply in the final trading hour from its intraday low at 1,601.99. The KLCI, which opened higher, had earlier risen to its intraday high at 1,611.43. Rakuten Trade Sdn Bhd vice president of research Vincent Lau told theedgemarkets.com that profit taking in the KLCI followed buying of KLCI-linked stocks over the last few days.   "The negative performance of the KLCI today was in line with regional markets, due to uncertainty," Lau said.    Globally, Reuters reported Asian shares sank on Monday, the safe haven yen rose and gold jumped following a fresh escalation of violence in Hong Kong, while uncertainty still remained over whether the US and China could end the...

KUALA LUMPUR (Nov 8): The FBM KLCI ended up 0.4 point or 0.02% at 1,609.73 today after paring gains shortly following a spike in the final trading hour. The KLCI spike followed Bank Negara Malaysia's (BNM) announcement that the statutory reserve requirement (SRR) ratio for banks will be lowered from 3.5% to 3% effective from Nov 16. BNM said today in a statement the move aims to maintain sufficient liquidity in the domestic financial system. At Bursa Malaysia, the KLCI spiked to its intraday high at 1,614.19 in the final trading hour after falling to its intraday low at 1,606.02. Analysts said banking shares reacted positively to the news as a lower SRR ratio means financial insitutions will have more money to lend to borrowers. Nomura head of equity research for Malaysia Tushar Mohata told theedgemarkets.com the KLCI was boosted at the 11th hour mainly by banks' share price rise. The list includes KLCI-linked banks Public Bank Bhd and CIMB Gro...