Bursa Malaysia rises in anticipation of corporate results, Fed meet

The Star

3 days ago

KUALA LUMPUR: Shares on Bursa Malaysia rose in line with other Asian markets as investors await the upcoming Jackson Hole Symposium for signs the Federal Reserve will slash interest rates at the next policy meeting.
There is also growing anticipation for more buying leads on the domestic market as the corporate earnings season hits its stride this week.
At 12.30pm, the FBM KLCI was up 7.36 points to 1,583.59, defying analyst expectations of a cautious wait-and-see approach to the coming week's developments.
The number of advancing issues on the broader market, however, was slightly lower than decliners at 405-to-430. Turnover was 1.43 billion shares valued at RM1.17bil.
Among the top gainers, Hong Leong Bank gained 28 sen to RM19.90, YTL Power rose 14 sen to RM4.34 and Gamuda gained 11 sen to RM4.71. YTL Power's parent company YTL Corp was up 10 sen to RM2.69.
The day's leading actives were Velesto unchanged at 18.5 sen, Pharmaniaga down 0.5 sen to 17 sen and Tanco flat at 73 sen.
According to news reports, US President Donald Trump will meet with his Ukrainian counterpart and other European leaders for discussions over a peace deal with Russia.
Later this week, Federal Reserve chairman Jerome Powell will speak at the the Jackson Hole symposium where he would share the central bank's economic and policy outlook.
Asian markets are looking forward to these events with China's stock markets among the most improved on Monday.
The Shanghai composite index rose 1.18% to 3,740 and the CSI 300 was up 1.5% to 4,265.
Japan's Nikkei gained 0.82% to 43,731. South Korea's Kospi bucked the positive trend, dropping 1.17% to 3,187.