MONEY MASTER

KUALA LUMPUR (Jan 31): No reprieve was seen on the local bourse today as the FBM KLCI recorded losses for the ninth consecutive day as fears deepened across the world after the World Health Organisation declared a global health emergency as the Wuhan coronavirus outbreak's death toll passed the 200-mark, while infection rates surpassed SARS'. Though the benchmark index started the day with a little rebound and rose to as high as 1,552.46 — up 0.44% from the previous day's close of 1,545.59 — it struggled to maintain the momentum. At 5pm, it closed 14.53 points 0.94% lower at 1,531.06 — its lowest in more than five years. Turnover was high at 3.79 billion shares worth RM3.29 billion, with 834 losers versus 150 gainers. Rakuten Trade Sdn Bhd research vice president Vincent Lau, who described the market as "a sea of red" today, said investors remained cautious. TA Securities, meanwhile, said in a note today that “increased worries over...

KUALA LUMPUR (Jan 30): The FBM KLCI ended 4.88 points or 0.31% lower at 1,545.59, marking the benchmark index’s eighth daily loss, as sentiment across the region remained tepid on growing coronavirus fears. The broader market was also generally in the red save for the consumer products, REIT and transportation & logistics indices. The stock market saw a turnover of 2.81 billion shares for RM2.32 billion, with losers dominating. Malacca Securities Sdn Bhd said the KLCI remains downbeat as investors continue to be cautious on the economic impact from the virus outbreak. “Gains on Wall Street are also lacklustre as markets are still on the move to find stability,” the firm said in a note to clients today. Dragging the KLCI down today were Petronas Chemicals Group Bhd (down 1.98% or 13 sen to RM6.45), Petronas Gas Bhd (down 1.84% or 30 sen to RM16) and Digi.com Bhd (down 1.81% or eight sen to RM4.33). The World Health Organisation will decide later to...

KUALA LUMPUR (Jan 29): The FBM KLCI ended 1.17 points or 0.08% lower at 1,550.47 as regional markets rebounded slightly after a steep selloff, though concerns on the economic impact of the Wuhan virus continued to weigh on investors. While the benchmark index closed in negative territory, the broader market saw a recovery except for glove makers and healthcare stocks which took a breather after yesterday’s rally. Rakuten Trade Sdn Bhd research vice president Vincent Lau told theedgemarkets.com trading was quite mixed as investors reacted to recent announcements related to the virus. “The slight dip in the KLCI is probably due to some bargain hunting as investors took opportunity on lower prices. Investors continued to take caution but I believe the impact to the stock market will not be as severe as we think. Even the Dow Jones has recovered overnight (up 0.66% to 28,722.85),” Lau said. The death toll from the virus outbreak rose sharply to 132 with nea...