FBM KLCI ends slightly higher at midday on cautious sentiment
At 12.30 pm, the FBM KLCI increased 0.34 of a point to 1,526.50 from Tuesday's close of 1,526.16.
The benchmark index opened 3.98 points higher at 1,530.14, and fluctuated between 1,524.04 and 1,532.80 throughout the morning session.
In the broader market, decliners led gainers 418 to 349, with 468 counters unchanged, 1,161 untraded and 50 suspended.
Turnover stood at 1.49 billion units worth RM931.68 million.
Hong Leong Investment Bank Bhd said it expects the FBM KLCI to remain volatile in the near term as investor sentiment stays cautious amid the earnings peak this week and continued foreign net outflows.
"Concerns over a tariff-driven global slowdown continue to weigh on market confidence, posing risks to Malaysia's economic momentum and corporate earnings,' it said in a note today.
That said, downside risks may be mitigated by encouraging remarks from Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz on potential US-Malaysia trade deal prospects and strategic collaboration opportunities with ASEAN, Gulf Cooperation Council and China, it added.
The investment bank said key weekly support is established between the 1,500 and 1,519 levels, while resistance is expected to emerge within the 1,550 to 1,570 range.
Among heavyweight counters, Maybank, CIMB and IHH Healthcare were flat at RM9.85, RM6.90 and RM6.90 respectively, while Public Bank fell three sen to RM4.35 and Tenaga Nasional rose 10 sen to RM14.10.
As for active stocks, Permaju went down half-a-sen to 1.5 sen, Sapura Energy was flat at four sen, while Velesto , Tanco and Magma added one sen each to 17.5 sen, RM1.02 and 43 sen respectively.
On the index board, the FBM Emas Index added 5.64 points to 11,402.70, the FBMT 100 Index was 7.97 points better at 11,168.34, but the FBM ACE Index erased 20.16 points to 4,553.44.
The FBM Emas Shariah Index increased 13.46 points to 11,367.58 and the FBM 70 Index gained 33.50 points to 16,256.81.
Across the sectors, the Financial Services Index shed 38.18 points to 18,010.50, the Industrial Products and Services Index inched down 0.78 of-a-point to 152.66, the Energy Index added 3.89 points to 702.55, while the Plantation Index fell 75.63 points to 7,301.01. - Bernama
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The Star
15 minutes ago
- The Star
From designer shoes to toasters, scavengers salvage luxury goods abandoned by college students
Valentino sneakers that retail for US$980 (RM4,165). A Tovala toaster oven, originally US$390 (RM1,655). A Clear Home Design Lucite table, which would have cost US$899 (RM3,820) – except in this case, it was free. Lena Geller found those items, and many others, in the trash room of her apartment building in Durham, North Carolina, the United States after scores of Duke University students had moved out at the end of the spring semester. "It feels wrong for this much stuff to have been thrown out,' Geller wrote in an article for INDY Week, where she's a staff writer. She kept a spreadsheet of the roughly 70 items she found in the trash, estimating, after doing some research, that they originally retailed for US$6,600 (RM28,040) in total. "I've had a few friends text me after reading the piece, like, 'We should put together some kind of business plan',' Geller, 26, said in an interview. "It does feel like most of the stuff that I got was just sitting there. I do think there's a lot of money to be made.' Two pairs of designer shoes and a Lucite table that once belonged to Duke University students. Every year, as graduation season ends, many departing students throw away or simply abandon expensive household items and luxury goods instead of donating or taking them back home. Local residents and scavengers are stepping in, rescuing items to reuse or sell, then touting their finds on social media. Peter Valley, a 47-year-old software company founder, has been selling discarded books from college students for years. To him and many other scavengers, college campuses are a virtually inexhaustible source of goods that can be resold, kept or donated. "My earliest success was dumpster diving at Caltech in Pasadena,' he said. "My girlfriend and I dumpster dived a couple thousand dollars' worth of books from the campus recycling centre. That was a big 'aha!' moment, where I realised that this could be a real business.' These days, Valley is primarily focused on his software business. Reselling books nets him a monthly income in what he describes as a "low four-figure amount'. At his peak, he said, he had five-figure months. Haul videos Some scavengers post haul videos of their finds on social media. Late spring sees an explosion of such content because that is when college students move out of their dormitories. "The stuff college kids waste is crazy,' a TikTok user with the handle @bethanytaylorr posted last month. Her 27-second video of rummaging through the dumpster at an unidentified college and rescuing household items has been viewed nearly four million times. Such social media posts can serve as both advertisements and how-to guides. "The whole point of this is to get the stuff out of the landfill and have someone who can use it have it,' said Megan Godinez, whose TikTok account, MeganTheDDMvp, has nearly 500,000 followers. Godinez said there was a difference between foraging on college campuses and in the dumpsters behind the outlets of retail giants like Williams Sonoma or Home Depot. "College stuff is home stuff that you use — cleaning products, toilet paper, paper towels, a ton of Tide Pods (laundry detergent pods) and dish soap,' she said. "They're extremely useful.' A toaster oven that was previously used by Duke University students. Carla Manlapaz, 62, also finds plenty of household items when she dumpster dives at the college near where she lives in north central Texas (she did not want to reveal the name of the college for fear that school officials would crack down). She also found a Fender guitar, which she said she is hoping to sell on Facebook Marketplace for US$200 (RM850). She sells other items on sites like Etsy or Poshmark. "It's very exhilarating when you see all this good stuff that you can either make a little money on or use or donate to someone else,' Manlapaz said. "It's a thrill. I mean, I'm 62, and I'm retired. Doesn't take that much to amuse me.' College campus dumpster diving isn't new, but social media has given it prominence. At the University of Wisconsin, a stretch of August has long been known as "Hippie Christmas' because so many students deposit their unwanted belongings on front lawns. Bostonians, who live in something of a giant college town, devoutly mark "Allston Christmas' each September. In a 1991 essay, Lars Eighner, who became famous for chronicling his experiences with homelessness, said that he focused his scavenging on a college town and that he found "it advantageous to keep an eye on the academic calendar'. In recent years, many colleges have adopted what Scott Galloway, a podcaster and marketing professor at New York University's Stern School of Business, has called "the posture of luxury brands', with lavish housing and gyms fit for professional athletes. Some say such amenities inflate costs while doing nothing in the way of education. Yet many parents readily fork over thousands of dollars for interior decorators to work their magic on a child's college dorm. Lena Geller shows a neon heart light with an original retail of $117 that was left behind when Duke University students moved out of her apartment. — Photo: Cornell Watson/The New York Times) At the same time, anxiety about climate change is rising among young people. Rescuing and wearing someone else's Lululemon shorts is one way to fight back against pollution and wastefulness. "It's truly transgressive because it's stepping out of that idea that we have to be consumers,' said Lisa Beiswenger, an assistant professor at Saint Francis University who taught a class on dumpster diving at the University of Akron. Her students discovered that the 300 million tons (272 million tonnes) of waste Americans generate annually, according to the Environmental Protection Agency, include plenty of stuff that can be used, worn or eaten by someone else. Too much junk Blame the "Amazonification' of the US economy, said Rosalie E. Kerr, director of sustainability at Dartmouth College. "If you're going to a party, and the theme of that party is the 1920s, you can go on Amazon and buy a plastic 1920s outfit for US$17 (RM72) with one click. And that's really irresistible.' College move-out season adds a twist because students need to clear out quickly. Many discover that in the previous nine months, they've accrued far too many goods to store or bring home. Into the dumpster the Jazz Age flapper outfit goes. "We have a lot of junk that's in that category,' Kerr said. Then come the dumpster divers. On social media, many marvel at their finds. Someone threw away what? You found that? But not everyone views the scavenging as a social good to be celebrated. "One of the challenges of creating a dumpster diving culture is the inequities,' Kerr said. Only certain people may know when and where to scavenge. Some may lack the physical ability for intensive rummaging. Others may be mistaken for trespassers. "It truly sucks that a Black person could possibly get mistreated or even killed doing the same thing we were doing,' one Reddit user wrote on the site's dumpster diving forum. Lena Geller holds a toaster oven with an original retail of $390 that was left behind when Duke University students. — Photo: Cornell Watson/The New York Times) Some colleges have tried to address the waste. Georgetown University, for example, organises a donation drive intended to align with "the university's Catholic and Jesuit mission', according to an email sent to students, urging them to leave items at one of four sites on campus. The email said that last year, the school "diverted over 49,000lbs (22 tonnes) of material, valued at almost US$334,000 (RM1.4mil)'. But sustainability experts say that on many campuses, such efforts are either limited or nonexistent, leaving dumpster divers to perform an important service. Anna Sacks, a Manhattan-based waste expert, criticised Columbia University for not doing nearly enough to make sure that students can either donate or resell items like mini fridges, which are too cumbersome to carry home. At the same time, access to campus has been heavily restricted, making it an all but impregnable dumpster diving destination. "To see this every single year is disgusting,' Sacks said. This year, she scavenged what she could, even as she approached her ninth month of pregnancy. "I got maple syrup that I just had with my yogurt,' she said. Her friend scored a Moncler jacket retailing for more than US$2,000 (RM8,500). (A spokesperson for Columbia did not respond to a request for comment.) Scavenging veterans say that anyone wishing to join their ranks should look for schools with high populations of international students, who are unlikely to haul televisions on transoceanic flights. For safety and camaraderie, go with a group. And do remember that you're going to be sorting trash. "I bring hand sanitiser,' Sacks said. – ©2025 The New York Times Company
Focus Malaysia
15 minutes ago
- Focus Malaysia
Late selling drags Bursa Malaysia to end at intraday low ahead of 13MP, FOMC announcements
BURSA Malaysia ended at its intraday low today, pressured by late selling as investors positioned themselves ahead of the 13th Malaysia Plan (13MP) announcement on Thursday. Apart from that, investors are awaiting fresh catalysts from the outcomes of the United States Federal Open Market Committee (FOMC) meeting scheduled on July 29-30, amid ongoing US-China trade talks in Stockholm. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.56 points, or 0.36%, to close at 1,523.82 from Monday's close of 1,529.38. The benchmark opened 0.20 of-a-point firmer at 1,529.58 and subsequently hit its highest level of 1,537.62 in early trade before trending downward for the rest of the day. In the broader market, losers led gainers 603 to 365, while 506 counters were unchanged, 1,047 untraded and 44 suspended. Turnover improved to 3.36 billion units worth RM2.18 bil from 3.0 billion shares worth RM2.30 bil on Monday. ‒ July 29, 2025
Malay Mail
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Dewan Rakyat passes Cross-Border Insolvency Bill to boost investor confidence
KUALA LUMPUR, July 29 — The enactment of the Cross-Border Insolvency Bill 2025 is expected to support Malaysia's long-term goal of attracting foreign direct investments (FDI) as well as strengthening the nation's economic stability. Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said, in her winding-up speech on the bill, said it reflects Malaysia's commitment to progressive international legal standards. The bill is also expected to enhance Malaysia's position as an investor- and trade-friendly country in line with the challenges and demands of globalisation, she said. 'By recognising standard global principles such as the Model Law on Cross-Border Insolvency (MLCBI), Malaysia will gain more confidence from foreign investors in terms of the clarity, transparency, and effectiveness of cross-border insolvency dispute resolution. 'This will help investors know what to expect when facing any financial risk, thereby increasing foreign investor confidence to invest and expand their businesses in Malaysia,' she said. The Dewan Rakyat today passed the Cross-Border Insolvency Bill 2025, which aims to establish an effective mechanism for managing cross-border insolvency cases. The bill was passed by a majority voice vote after being debated by 11 members of Parliament from both the government and opposition. Earlier, when tabling the bill for its second reading, Azalina said cross-border insolvency in the corporate context refers to insolvency proceedings involving companies experiencing financial distress and unable to repay their debts, with creditors and assets located in more than one country. She explained that the bill promotes formal cooperation between courts and insolvency authorities in Malaysia and other countries, which previously depended only on the principle of comity. 'It provides legal certainty to investors and stakeholders by establishing clear procedures regarding the recognition of foreign proceedings, court access, and the granting of relief. 'This bill supports efforts to rescue viable businesses in line with the recent amendments to the Companies Act 2016, thereby safeguarding investments and people's jobs,' she said. — Bernama
