IGB REIT's Shares Up After Posting Positive 2Q Results
At 10.39 am, the counter gained four sen to RM2.78, with 1.80 million shares changing hands.
In a filing with Bursa Malaysia on Monday, IGB REIT reported a net profit of RM92.51 million for the quarter, up from RM81.55 million a year earlier.
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New Straits Times
29 minutes ago
- New Straits Times
Bursa opens higher, seen testing 1,600 level on US rate cut hopes
KUALA LUMPUR: Bursa Malaysia opened higher and is set to test the 1,600 level today after Wall Street's bullish momentum overnight on US interest rate cut hopes, coupled with a strong corporate earnings season, analysts said. At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.48 points, or 0.16 per cent, to 1,589.08 from yesterday's close of 1,586.60. The benchmark index earlier opened 0.31 of a point firmer at 1,586.91. The market breadth was positive, with advancers leading decliners 191 to 154. A total of 301 counters were unchanged, 1,918 untraded and 17 suspended. Turnover stood at 174.93 million shares worth RM97.13 million. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng noted that Wall Street's overnight rally pushed both the Nasdaq and the S&P500 to record highs. "Meanwhile, the US 10-year yield eased to 4.236 per cent while Hong Kong's Hang Seng Index cruised past the 25,000 level as traders' risk appetite increased as hopes for a US interest rate cut in September escalated," he told Bernama. On the domestic front, as the FBM KLCI surged to almost the 1,590 mark at the close yesterday, Thong said he believes the index is set to test the 1,600 level soon, and eventually improve the overall trading volume of the local bourse in the future. "We expect the buying momentum to persist, hence expect the index to hover within the 1,580-1,600 range today," he added. Among the heavyweight stocks, Maybank added six sen to RM9.92, Public Bank climbed one sen to RM4.45, and CIMB gained five sen to RM7.24. Tenaga Nasional eased six sen to RM13.74 while IHH Healthcare was flat at RM6.91. On the actively traded list, Oxford Innotech advanced three sen to 41 sen, Mtouche Technology, Icents and YGL inched up half-a-sen to 3.5 sen, 43 sen and 14 sen, respectively, while Classita dipped half-a-sen to 8.5 sen. On the broader market, the FBM Emas Index expanded 16.23 points to 11,820.41, the FBMT 100 Index widened by 15.18 points to 11,604.19, and the FBM Emas Shariah Index added 2.18 points to 11,770.73. The FBM ACE Index picked up 4.80 points to 4,659.41, and the FBM Mid 70 Index gained 9.19 points to 16,785.55. By sector, the Financial Services Index jumped 67.76 points to 18,141.66, the Plantation Index bagged 25.76 points to 7,623.75, and the Energy Index added 2.40 points to 740.04. The Industrial Products and Services Index shaved 0.07 of a point to 158.44.
The Sun
an hour ago
- The Sun
Ringgit opens flat on caution after recent gains
KUALA LUMPUR: The ringgit opened flat against the US dollar on Thursday as investors turned a bit cautious after recent gains, despite growing speculation for a US interest rate cut. At 8.05 am, the local note edged slightly down to 4.2045/2160 versus the US dollar from Wednesday's close of 4.2040/2085. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the cautious tone in the currency market was largely driven by some uncertainty over the US Federal Reserve's (Fed) next move, despite increasing odds for a rate cut in September. 'The odds for a US interest rate cut are gaining momentum, especially following remarks from US Treasury Secretary Scott Bessent, who suggested that the Fed should reduce the Fed funds rate by 50 basis points at the next Federal Open Market Committee (FOMC) meeting,' he told Bernama Mohd Afzanizam noted that although the Fed remains independent and the Treasury Secretary has no authority to interfere in Fed business, Bessent's suggestion pointed to a weakening US economy that needs help. 'As such, the ringgit is poised for further appreciation. Yesterday, the ringgit appreciated against the greenback by 0.57 per cent to RM4.2063. The USD/MYR might (dip) below RM4.20 in light of the increasing prospects for a US rate cut,' he added. In the early session, the ringgit traded mostly lower against major currencies. It fell versus the Japanese yen to 2.8608/8688 from Wednesday's close of 2.8554/8586, dropped vis-a-vis the British pound to 5.7106/7262 from 5.7078/7139, but appreciated against the euro to 4.9243/9378 from 4.9305/9357. The ringgit traded mixed against regional peers. It strengthened versus the Singapore dollar to 3.2858/2953 from 3.2864/2902 at yesterday's close and edged up against the Thai baht to 13.0235/0700 from 13.0276/0476. However, the local note was almost flat against the Indonesian rupiah at 259.4/260.3 from 259.4/259.8 and was little changed against the Philippine peso at 7.41/7.43 from 7.41/7.42 Wednesday's closing. - Bernama
Barnama
an hour ago
- Barnama
Ringgit Opens Flat On Caution After Recent Gains
WORLD By Nurunnasihah Ahmad Rashid KUALA LUMPUR, Aug 14 (Bernama) -- The ringgit opened flat against the US dollar on Thursday as investors turned a bit cautious after recent gains, despite growing speculation for a US interest rate cut. At 8.05 am, the local note edged slightly down to 4.2045/2160 versus the US dollar from Wednesday's close of 4.2040/2085. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the cautious tone in the currency market was largely driven by some uncertainty over the US Federal Reserve's (Fed) next move, despite increasing odds for a rate cut in September. 'The odds for a US interest rate cut are gaining momentum, especially following remarks from US Treasury Secretary Scott Bessent, who suggested that the Fed should reduce the Fed funds rate by 50 basis points at the next Federal Open Market Committee (FOMC) meeting,' he told Bernama Mohd Afzanizam noted that although the Fed remains independent and the Treasury Secretary has no authority to interfere in Fed business, Bessent's suggestion pointed to a weakening US economy that needs help. 'As such, the ringgit is poised for further appreciation. Yesterday, the ringgit appreciated against the greenback by 0.57 per cent to RM4.2063. The USD/MYR might (dip) below RM4.20 in light of the increasing prospects for a US rate cut,' he added. In the early session, the ringgit traded mostly lower against major currencies. It fell versus the Japanese yen to 2.8608/8688 from Wednesday's close of 2.8554/8586, dropped vis-a-vis the British pound to 5.7106/7262 from 5.7078/7139, but appreciated against the euro to 4.9243/9378 from 4.9305/9357. The ringgit traded mixed against regional peers.
