FBM KLCI extends losses for fifth straight session

The Star21-05-2025

KUALA LUMPUR: Despite opening higher at the start of the trading day, the FBM KLCI succumbed to selling pressure and extended its downtrend for the fifth consecutive session.
The 30-stock index slipped 4.07 points, or 0.26%, to 1,544.80 after moving between an intraday high of 1,553.84 and a low of 1,542.47.
In the broader market, decliners outpaced advancers, with 649 stocks ending lower while 342 closed higher. This gave a market breadth of 0.53, signalling that the bears maintained the upper hand.
A total of 3.27 billion shares were traded, with a value of RM2.16bil.
Stock market data showed that foreign investors were net sellers on Tuesday, offloading RM81mil. In contrast, local institutions and retailers were net buyers, picking up RM47mil and RM33mil, respectively.
Malaysian Pacific Industries , the top loser on Bursa Malaysia, slid RM1.94 to RM18.20. Nestle fell 60 sen to RM79.66, PETRONAS Chemicals lost 30 sen to RM3.42, and Heineken gave up 26 sen to RM27.80.
Among the gainers, F&N surged RM1.20 to RM27.48, United Plantations jumped 64 sen to RM22.66, Sunway Construction rose 27 sen to RM5.15, and Dutch Lady gained 16 sen to RM29.66.
Among the banks, Maybank slipped four sen to RM10.00, Public Bank fell nine sen to RM4.34, and CIMB eased four sen to RM7.00. Meanwhile, Hong Leong Bank rose 10 sen to RM20.00, while RHB Bank ended flat at RM6.71.
Meanwhile, the ringgit strengthened 0.7% against the US dollar to 4.2680, and gained 0.3% against the Singapore dollar to 3.3075.
On the external front, MSCI's Asia ex-Japan stock index was 0.82% higher. Japan's Nikkei 225 fell 0.61%, South Korea's Kospi closed up 0.91%, Hong Kong's Hang Seng added 0.62%, and China's CSI 300 Index gained 0.47%.

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Bursa opens higher, tracking Wall Street's overnight gains

Free Malaysia Today

38 minutes ago

Free Malaysia Today

Bursa opens higher, tracking Wall Street's overnight gains

KUALA LUMPUR : Bursa Malaysia opened higher today, tracking overnight gains on Wall Street, as sentiment was boosted by the potential reversal of US President Donald Trump's tariff policy, which many view as a negotiation tool, said an analyst. At 9.08am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.27 points to 1,506.52 from Tuesday's close of 1,503.25. The benchmark index opened 3.85 points higher at 1,507.10. In the broader market, gainers led decliners 141 to 119, while 259 counters were unchanged, 1,820 untraded and 18 suspended. Turnover stood at 81.17 million units valued at RM40.27 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said, nonetheless, many were wary of the tariffs' effect on US economic data. In Hong Kong, the Hang Seng Index (HSI) rebounded as sentiment was buoyed by the likelihood of a high-level discussion between China's President Xi Jinping and Trump to mitigate the ongoing trade tension. 'Whether this will take place remains to be seen, but expectations were rather hyped up,' he added. On the home front, the FBM KLCI on Tuesday continued its decline and at one moment, even broke the 1,500 psychological level. Nonetheless, selective bargain hunting managed to push the index back up to above the 1,500 mark. 'Overall, the market undertone is still weak. Hence, the directionless benchmark index is exacerbated by the persistent selling by foreign funds. 'For today, we expect the index to trend between the 1,500-1,510 points range again,' said Thong. Among the heavyweights, YTL Corporation gained 2.0 sen to RM1.82, PMetal rose 5.0 sen to RM5.00, Hong Leong Financial Group increased 16 sen to RM16.46, Petronas Chemicals grew 3.0 sen to RM3.31, and SD Guthrie rose 4.0 sen to RM4.55. Among active stocks, KNM eased half-a-sen to 3.0 sen, Avangaad was flat at 28 sen, Toyo Ventures added 1.5 sen to 38.5 sen, while SSF Home Group, PA Resources and Managepay Systems were flat at 36.5 sen, 18 sen, and 7.5 sen respectively. On the index board, the FBM Emas Index strengthened 20.89 points to 11,275.35, the FBMT 100 Index expanded 21.58 points to 11,044.30, but the FBM ACE Index slid 10.32 points to 4,471.49. The FBM Emas Shariah Index increased 29.68 points to 11,239.83, while the FBM 70 Index garnered 22.01 points to 16,164.17. Sector-wise, the Financial Services Index edged up 11.33 points to 17,773.96, the Industrial Products and Services Index was up 0.70 of-a-point to 150.78, the Energy Index climbed 0.88 of-a-point to 699.84, and the Plantation Index grew 14.45 points to 7,233.33.

Japan PM Ishiba vows to ‘energise' S. Korea cooperation under new leader Lee

The Star

an hour ago

The Star

Japan PM Ishiba vows to ‘energise' S. Korea cooperation under new leader Lee

TOKYO: Japanese Prime Minister Shigeru Ishiba (pic) said Wednesday (June 4) he wanted to "energise" cooperation with South Korea, after new centre-left President Lee Jae-myung took power. Spats over territory and a bitter dispute over Japan's use of forced labour during its decades-long 20th-century occupation of the Korean peninsula have long strained ties between the two neighbours. But the countries became closer under South Korea's disgraced former leader Yoon Suk-yeol, including through three-way talks with joint ally the United States. "This year marks the 60th anniversary of the normalisation of diplomatic relations between Japan and Korea," Ishiba told reporters in Tokyo. "With President Lee Jae-myung, I would like to energise cooperation between Japan and South Korea as well as between Japan, the United States and South Korea." Ishiba added that "it would be good if we could hold a Japan-South Korea summit in the near future". Lee won a snap election held six months after a disastrous attempt to declare martial law by South Korea's ex-president Yoon plunged the country into political chaos. "There are various public opinions inside South Korea" towards Japan, Ishiba said. Lee has previously taken a harder line towards the country than Yoon, including saying that the ex-president was "submissive" to Japan, according to Yonhap news agency. "The new president has made some statements in the past. But during the election campaign, he also said that Japan is an important partner and that he loves the Japanese people," Ishiba said. "We will strengthen our ties with South Korea by opening our hearts and minds and engaging in active exchanges with South Korea," he added. - AFP

New Straits Times

2 hours ago

New Straits Times

MARKET PULSE AM JUNE 4, 2025 [WATCH]

KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Bursa Malaysia opened higher today, following Wall Street's gains, as optimism grew over a possible change in US President Trump's tariff policy. However, market sentiment remains weak, with the benchmark index lacking clear direction due to continued selling by foreign investors. The index is expected to trend within the 1,500 to 1,510 range today. In the crypto market, Bitcoin fell to RM449,631 as tariff tensions flared. Ethereum was trading lower at RM11,105, and Solana was down at RM665. That's it for Market Pulse. BxuAnf6jFsk