Bursa edges up as value seekers drive selective accumulation
At 9.06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.63 of a point to 1,520.03 from yesterday's close of 1,519.40.
At the opening bell, the benchmark index was 0.08 of a point higher at 1,519.48.
Turnover stood at 126.93 million shares, valued at RM68.23 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI closed lower yesterday in tandem with the weak regional performance.
'However, we expect value-seeking investors to continue supporting the market through selective accumulation. Hence, we anticipate the benchmark index to consolidate within the 1,510–1,520 range today,' he added.
On the global front, Thong said Wall Street closed mixed, with the S&P 500 hitting another record high at 6,309.62 (+0.06%) as investors digested a new batch of earnings, including a tariff warning from General Motors.
The Dow rose 0.4%, while the Nasdaq slipped 0.39% ahead of key earnings reports from major tech giants.
Among the heavyweight counters, Maybank added four sen to RM9.57, Tenaga Nasional was two sen better at RM13.80, CIMB improved one sen to RM6.56, Public Bank lost three sen to RM4.28, while CelcomDigi and Press Metal were flat at RM3.79 and RM5.21, respectively.
Active counters were led by NexG, followed by Enproserve, with both accumulating 1.5 sen each to 52 sen and 28 sen, respectively. PRG advanced half-a-sen to 9.5 sen, Eco-Shop added one sen to RM1.32, while EA Holdings was down half-a-sen to half-a-sen.
On the broader index board, the FBM Emas Index was 13.04 points higher at 11,432.77, the FBMT 100 Index rose 10.54 points to 11,192.48, and the FBM Emas Shariah Index was up 7.64 points to 11,454.99.
The FBM 70 Index gained 41.42 points to 16,597.29, while the FBM ACE Index trimmed 7.19 points to 4,617.41.
By sector, the Financial Services Index put on 36.2 points to 17,346.87, the Energy Index edged down 0.46 of a point to 739.71, and the Plantation Index improved 12.40 points to 7,408.55. The Industrial Products and Services Index rose 0.11 of a point to 154.15.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
2 hours ago
- New Straits Times
IGB REIT net profit rises to RM92.51mil in second quarter on higher rental income
KUALA LUMPUR: IGB Real Estate Investment Trust's net profit rose to RM92.51 million in the second quarter ended June 30, 2025 (2Q 2025), compared to RM81.55 million in the same period a year ago. Revenue also increased to RM160.09 million from RM149.97 million previously, mainly due to the higher rental income in 2Q 2025, according to a Bursa Malaysia filing today. Regarding its prospects, the company said that despite the softer retail outlook, with Retail Group Malaysia revising its full-year 2025 retail sales growth forecast down to 3.1 per cent from 4.3 per cent, it remains optimistic on long-term opportunities through its expansion strategy, such as the proposed acquisition of The Mall, Mid Valley Southkey. "The Johor retail market benefits from initiatives such as the Johor-Singapore Special Economic Zone, the Rapid Transit System Link, and strong cross-border spending. Subject to completion, the acquisition will enhance and diversify IGB REIT's portfolio," it added. For the first half of the year, IGB REIT's net profit also improved to RM199.08 million from RM181.16 million a year ago, while revenue advanced to RM331.53 million from RM312.53 million previously.
New Straits Times
2 hours ago
- New Straits Times
DXN 1Q net profit dragged down by forex losses
KUALA LUMPUR: DXN Holdings Bhd's net profit fell by 13.6 per cent to RM73.91 million in the first quarter ended May 31, 2025 (1Q FY2026) from RM85.56 million in the same period last year due to foreign exchange (forex) losses stemming from the strengthening of the ringgit. Revenue, however, edged up 0.8 per cent to RM479.06 million against RM475.05 million previously, the health and wellness consumer product manufacturer said. "This modest growth was primarily driven by continued sales expansion in local currencies, which was partially offset by unfavourable currency translation effects arising from depreciation of the overseas market currencies against the ringgit," it said in a filing with Bursa Malaysia today. DXN said the board has declared a first interim dividend of 0.9 sen per share for 1Q FY2026, involving a payout of RM44.75 million, which will be paid on Aug 29, 2025. This represents a 60.5 per cent payout ratio. In a separate statement, DXN said the group remains positive on its FY2026 prospects despite forex volatility and broader macroeconomics headwinds. "DXN is investing in new manufacturing capacity in Peru and Morocco as well as in Kedah and Kelantan. These developments will enable faster market responsiveness, reduce logistics complexity and support more sustainable, localised production. "They are part of DXN's long-term strategy to strengthen its global supply network while improving both cost and carbon efficiency," it added. -- BERNAMA
The Sun
3 hours ago
- The Sun
Ramssol forges landmark AI, cloud computing collaboration with Tencent, Equinix
PETALING JAYA: Malaysia is set to accelerate its digital transformation by tapping Chinese expertise in artificial intelligence (AI) and cloud computing, following a landmark collaboration spearheaded by Ramssol Group Bhd with Tencent Cloud and supported by Equinix. The Malaysia-China Tech & Trade Cooperation Exchange Conference 2025, held in Sheraton Petaling Jaya today, underscored the nation's ambitions to become a regional hub for next-generation technologies while deepening bilateral ties with China. The initiative will introduce Tencent Cloud's advanced AI and cloud solutions to the Malaysian market through Ramssol's subsidiary, Rams Solutions, targeting retail and service industries seeking to automate operations, enhance customer engagement and adopt data-driven strategies for greater competitiveness across Asean markets. Deputy Communications Minister Teo Nie Ching, who officiated the event, said Malaysia's leadership as Asean Chair in 2025 positioned it uniquely to drive regional innovation and stability. She highlighted Prime Minister Datuk Seri Anwar Ibrahim's role in brokering peace between Thailand and Cambodia over a border dispute as an example of Malaysia's diplomatic and technological leadership. 'Technologies such as AI, smart communication, and cloud computing are redefining how economies grow, connect and innovate,' Teo said. 'Malaysia is proud to play a pivotal role in this journey. With our strategic position in Southeast Asia, a growing digital economy, and a future-ready talent pool, we remain committed to driving innovation that benefits all.' She stressed the need for alliances 'anchored on trust, mutual respect and shared ambitions' to build an open, secure and future-focused digital ecosystem that supports investment and long-term growth. Teo also outlined ongoing initiatives under the Communications and Multimedia Act 1998, including technical standards by the Malaysian Communications and Multimedia Commission (MCMC) to ensure communications equipment and services meet safety, interoperability and reliability benchmarks. Malaysia's broader digital push includes the Online Safety Act 2025, which mandates platforms to curb harmful content such as scams, cyberbullying and child exploitation, while maintaining innovation and free expression. She cited campaigns like Kempen Internet Selamat reaching over 43,000 participants in 348 schools and cashless adoption drives at Nadi Centres benefiting 1.8 million users as examples of initiatives fostering safer and more inclusive digital participation. Broadband penetration currently stands at 130.8% for mobile and 48.4% for fixed lines. Ramssol Group chairman Datuk Abdul Harith Abdullah said the collaboration reflects the group's long-term strategy to position Malaysia as a bridge for cross-border technology exchange and innovation in Asean. 'These collaborative events are more than just knowledge-sharing platforms; they are strategic gateways to future growth,' he said. 'By aligning Malaysia's digital ambitions with China's tech expertise, we are paving the way for sustained innovation, enhanced bilateral trade and scalable transformation across Asean.' The conference also showcased Tencent Cloud's real-time communication platforms, unmanned retail solutions, automated parking systems and intelligent media processing tools, technologies that have transformed consumer experiences in China and are now being introduced to Malaysian enterprises. Equinix's participation ensures scalable, secure digital infrastructure for cross-border solutions, with analysts noting robust infrastructure as vital for seamless technology integration. Teo described the initiative as a model for international cooperation where the Malaysia–China relationship continues to stand as a model where innovation drives value and collaboration leads to mutual prosperity. 'Let us move forward with confidence and a shared commitment to shaping a better, smarter future for Asia through innovation and cooperation,' she said.
