A leap backwards
The irony is that LEAP Market rules and requirements are the very reasons why investors and businesses have slowly distanced themselves in recent years.
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New Straits Times
37 minutes ago
- New Straits Times
MARKET PULSE PM AUG 4, 2025 [WATCH]
KUALA LUMPUR: News on stock, crypto and ringgit moves. Bursa Malaysia ended lower on Monday as investors capitalised on Friday's sharp rally to lock in profits. The decline signals a healthy market consolidation, driven by profit-taking and heightened caution amid ongoing global economic uncertainties. The ringgit, however, strengthened to 4.2390 against the greenback. In the crypto market, Bitcoin continues its downtrend, falling to RM486,998. Ethereum also dropped to RM15,115, while Solana down to RM695. That wraps up today's Market Pulse.
New Straits Times
37 minutes ago
- New Straits Times
Profit taking pushes Bursa Malaysia down
KUALA LUMPUR: Bursa Malaysia closed lower on Monday as investors engaged in profit taking on selected heavyweights, capitalising on Friday's sharp rally to lock in short-term gains. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 6.37 points or 0.42 per cent to close at 1,526.98 from last Friday's close of 1,533.35. The benchmark index, which opened 3.07 points lower at 1,530.28, moved between 1,522.96 and 1,530.28 throughout the trading session. The broader market was negative, with decliners outpacing gainers 584 to 390, while 479 counters were unchanged, 1,026 untraded and 11 suspended. Turnover declined to 2.63 billion units worth RM1.94 billion from 3.16 billion units worth RM2.23 billion last Friday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI ended lower as investors capitalised on Friday's sharp rally to secure short-term profits. He said such consolidation is typical following strong upward momentum, particularly in an environment still adjusting to evolving global macroeconomic signals. Among FBM KLCI constituents, consumer-related stocks led the gainers, rebounding from previous session losses, signalling a rotation into domestically driven sectors. "Meanwhile, utilities and banking counters came under pressure, contributing to the index's modest pullback. "We interpret this rotation as reflective of selective repositioning rather than broad-based risk aversion," he added. Sedek maintains a constructive outlook, supported by optimism over the recently unveiled 13th Malaysia Plan, which sets the stage for long-term structural reforms. He said the reduction in US trade tariffs has eased near-term geopolitical uncertainty and supported a more stable macro backdrop for Malaysian equities. "From August through to next month, we expect the market to increasingly price in the prospect of a Federal Reserve rate cut at the upcoming FOMC meeting. "Friday's softer-than-expected US non-farm payrolls report has significantly shifted investor expectations, with markets now assigning an 80 per cent probability to a 25-basis-point rate cut in September. "Equity investors appear to be pinning their hopes on the Fed to provide further policy accommodation to sustain economic momentum," he added.
The Star
2 hours ago
- The Star
FBM KLCI falls on profit-taking despite regional market gains
KUALA LUMPUR: Bursa Malaysia bucked the broadly higher regional trend as investors took profit off the table, sending the FBM KLCI lower on selling in banking stocks. At 5 pm, the FBM KLCI ended down 6.37 points, or 0.42% to 1,526.98 after rising to an intraday high of 1,530.28. Market breadth turned negative as losers overpowered the gainers on a ratio of 584-to-390 stocks. Traded volumes stood at 2.63 billion shares worth RM1.94bil. Dealers said a bout of profit-taking sent many stocks lower, with the local bourse also weighed down by selling in banking stocks and Tenaga Nasional. They noted that recent gains prompted investors to lock in profits, especially amid lingering external uncertainties. Public Bank slipped five sen to RM4.24, pulling the index down by 1.3722 points. Maybank fell six sen to RM9.54, weighing on the index by 1.0249 points, while Tenaga Nasional declined 14 sen to RM13.16, trimming 1.1538 points off the index. CIMB slipped four sen to RM6.75, dragging the index down by 0.6083 points, while Hong Leong Bank fell 24 sen to RM18.90, weighing on the index by 0.7356 points. Gainers among the FBM KLCI component stocks were Nestle, PETRONAS Gas, QL Resources and MISC. On the broader market, Malaysian Pacific Industries fell 46 sen to RM19.88, Heineken dropped 26 sen to RM23.32, and Hong Leong Industries eased 18 sen to RM12.78. Meanwhile, F&N gained 38 sen to RM29, Ralco rose 14.5 sen to RM1.11, and KJTS added 12 sen to RM1.44. On the forex market, the ringgit was quoted at 4.2395 against the US dollar, up 0.9%, and at 3.2908 against the Singapore dollar, gaining 0.07%. Across the region, MSCI's Asia ex-Japan stock index rose 0.77%. Hong Kong's Hang Seng delivered a 0.92% gain, China's CSI300 advanced 0.4%, and the Shanghai Composite added 0.66%. South Korea's Kospi ended 0.91% higher. In contrast, Japan's Nikkei 225 fell 1.25%.
