Latest news with #BursaMalaysia
The Sun
2 hours ago
- Business
- The Sun
Bursa Malaysia likely to see volatile trading next week pending key market developments
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trade within a volatile range of 1,500 to 1,530 next week, pending the emergence of new market-moving developments. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market sentiment will remain subdued, with investors maintaining a wait-and-see approach. 'From a technical standpoint, the FBM KLCI is in a correction phase, trading below its key moving averages, with technical indicators pointing to short-term weakness. 'Nonetheless, there are signs that the index may be positioning for a recovery, particularly if macroeconomic pressures subside and regional sentiment improves,' he told Bernama. Thong said a clear break above the 1,535 level could confirm a shift towards bullish momentum. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI is expected to trade in a narrow range in the absence of clear catalysts. 'Should the index fall below the 1,500 level, bargain hunting may emerge — especially in undervalued large-cap names. 'Volatility may also increase due to several external triggers. South Korea's presidential election on Tuesday could influence regional sentiment, while investors will be closely monitoring a series of economic data releases from China, Japan, South Korea, Taiwan, and Malaysia — including updates on exports, inflation, and purchasing managers' indices,' he said. Mohd Sedek noted that Bursa Malaysia will see a shortened four-day trading week next week, due to the long weekend, which could lead to thinner trading volumes and heightened market volatility. 'Investors should remain vigilant, maintain diversified portfolios, and be prepared for intermittent of volatility as uncertainty continues to shape the investment landscape,' he added. Mohd Sedek said a US appeals court has stayed a prior ruling that had blocked President Donald Trump's use of reciprocal tariffs under the 1977 International Emergency Economic Powers Act, raising fresh questions about the future direction of US trade enforcement. Bursa Malaysia Bhd and its subsidiaries will be closed on June 2, 2025, in conjunction with the official birthday of His Majesty Sultan Ibrahim, King of Malaysia. The exchange and its subsidiaries will resume operations on Tuesday, June 3, 2025. For the week just ended, Bursa Malaysia retreated from earlier gains and ended lower on Friday weighed down by continued selling pressure in heavyweight and mid-cap stocks amid downbeat regional sentiment, following the uncertainty surrounding US trade policy. On a Friday-to-Friday basis, the barometer index fell 27.03 points to 1,508.35 from 1,535.38 a week earlier. The FBM Emas Index dipped 174.25 points to 11,299.80, the FBMT 100 Index slipped 172.10 points to 11,061.00, and the FBM Emas Shariah Index declined 169.96 points to 11,256.26. The FBM 70 Index lost 148.75 points to 16,201.51, and the FBM ACE Index fell 64.91 points to 4,551.03. Across sectors, the Financial Services Index tumbled 262.04 points to 17,840.54, the Industrial Products and Services Index was 1.39 points easier at 152.65, and the Energy Index shed 2.73 points to 708.04. The Plantation Index shrank 122.46 points to 7,207.85 and the Healthcare Index dropped 16.94 points to 1,816.95. Turnover advanced to 14.80 billion units valued at RM12.78 billion from 14.05 billion units valued at RM11.28 billion in the preceding week. The Main Market volume improved to 7.21 billion units worth RM11.50 billion against 7.14 billion units worth RM10.06 billion. Warrants turnover expanded to 5.90 billion units worth RM721.75 million against 5.13 billion units worth RM645.54 million a week ago. The ACE Market volume narrowed to 1.66 billion units valued at RM543.90 million from 1.78 billion units valued at RM563.52 million.
The Sun
2 hours ago
- Business
- The Sun
FBM KLCI to trade between 1,500 -1,530 amid uncertainty
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trade within a volatile range of 1,500 to 1,530 next week, pending the emergence of new market-moving developments. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market sentiment will remain subdued, with investors maintaining a wait-and-see approach. 'From a technical standpoint, the FBM KLCI is in a correction phase, trading below its key moving averages, with technical indicators pointing to short-term weakness. 'Nonetheless, there are signs that the index may be positioning for a recovery, particularly if macroeconomic pressures subside and regional sentiment improves,' he told Bernama. Thong said a clear break above the 1,535 level could confirm a shift towards bullish momentum. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI is expected to trade in a narrow range in the absence of clear catalysts. 'Should the index fall below the 1,500 level, bargain hunting may emerge — especially in undervalued large-cap names. 'Volatility may also increase due to several external triggers. South Korea's presidential election on Tuesday could influence regional sentiment, while investors will be closely monitoring a series of economic data releases from China, Japan, South Korea, Taiwan, and Malaysia — including updates on exports, inflation, and purchasing managers' indices,' he said. Mohd Sedek noted that Bursa Malaysia will see a shortened four-day trading week next week, due to the long weekend, which could lead to thinner trading volumes and heightened market volatility. 'Investors should remain vigilant, maintain diversified portfolios, and be prepared for intermittent of volatility as uncertainty continues to shape the investment landscape,' he added. Mohd Sedek said a US appeals court has stayed a prior ruling that had blocked President Donald Trump's use of reciprocal tariffs under the 1977 International Emergency Economic Powers Act, raising fresh questions about the future direction of US trade enforcement. Bursa Malaysia Bhd and its subsidiaries will be closed on June 2, 2025, in conjunction with the official birthday of His Majesty Sultan Ibrahim, King of Malaysia. The exchange and its subsidiaries will resume operations on Tuesday, June 3, 2025. For the week just ended, Bursa Malaysia retreated from earlier gains and ended lower on Friday weighed down by continued selling pressure in heavyweight and mid-cap stocks amid downbeat regional sentiment, following the uncertainty surrounding US trade policy. On a Friday-to-Friday basis, the barometer index fell 27.03 points to 1,508.35 from 1,535.38 a week earlier. The FBM Emas Index dipped 174.25 points to 11,299.80, the FBMT 100 Index slipped 172.10 points to 11,061.00, and the FBM Emas Shariah Index declined 169.96 points to 11,256.26. The FBM 70 Index lost 148.75 points to 16,201.51, and the FBM ACE Index fell 64.91 points to 4,551.03. Across sectors, the Financial Services Index tumbled 262.04 points to 17,840.54, the Industrial Products and Services Index was 1.39 points easier at 152.65, and the Energy Index shed 2.73 points to 708.04. The Plantation Index shrank 122.46 points to 7,207.85 and the Healthcare Index dropped 16.94 points to 1,816.95. Turnover advanced to 14.80 billion units valued at RM12.78 billion from 14.05 billion units valued at RM11.28 billion in the preceding week. The Main Market volume improved to 7.21 billion units worth RM11.50 billion against 7.14 billion units worth RM10.06 billion. Warrants turnover expanded to 5.90 billion units worth RM721.75 million against 5.13 billion units worth RM645.54 million a week ago. The ACE Market volume narrowed to 1.66 billion units valued at RM543.90 million from 1.78 billion units valued at RM563.52 million.
Barnama
16 hours ago
- Business
- Barnama
Mah Sing Posts Higher Net Profit Of RM66.04 Mln In 1Q 2025, On Track For Full-Year Sales Target
BUSINESS KUALA LUMPUR, May 30 (Bernama) -- Mah Sing Group Bhd's net profit increased to RM66.04 million in the first quarter ended March 31, 2025 (1Q 2025) from RM60.05 million in 1Q 2024, supported by an increase in the property development segment. Revenue expanded to RM649.69 million from RM558.21 million previously, the property developer said in a Bursa Malaysia filing today. The group's balance sheet remains healthy with cash and bank balances as well as investment in short-term funds of approximately RM790.6 million as at March 31, 2025. 'In 1Q 2025, the property development segment recorded an operating profit of RM103.4 million and revenue of RM521 million, which were 16.3 per cent and 16.2 per cent higher than the operating profit and revenue as compared to the preceding year's corresponding quarter, respectively. 'The higher revenue and operating profit were mainly driven by progressive revenue recognition from ongoing construction progress,' it said. The key projects contributing to earnings include M Vertica in Cheras, M Arisa in Sentul, Meridin East, M Tiara and M Minori in Johor Bahru, M Astra in Setapak, M Senyum in Salak Tinggi, M Panora in Rawang and M Nova in Kepong. 'Other projects which also contributed include Southville City in Bangi, Ferringhi Residence in Penang, M Zenya in Kepong, M Terra in Puchong and M Azura in Setapak,' it said. The group achieved RM1.01 billion in property sales for the five months of 2025. Meanwhile, its manufacturing segment reported revenue of RM113 million and an operating loss of RM1.3 million in 1Q 2025, compared to a revenue of RM98.5 million and an operating profit of RM0.7 million (including one-off insurance recoveries income of RM2.7 million) in the previous year's corresponding quarter.
Malaysian Reserve
17 hours ago
- Business
- Malaysian Reserve
Bursa Malaysia ends on weak note amid subdued regional sentiment
KUALA LUMPUR — Bursa Malaysia failed to sustain earlier gains and ended the week on a weaker note, weighed down by continued selling pressure in heavyweight and midcap stocks amid downbeat regional sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 10.63 points, or 0.70 per cent, to 1,508.35 from Thursday's close of 1,518.98. The benchmark index opened 2.24 points higher at 1,521.22, and subsequently hit the day's high of 1,522.06 in early trade before losing its steady momentum to close at its intraday low. On the broader market, decliners outnumbered gainers 616 to 336, while 417 counters were unchanged, 1,025 untraded and 86 suspended. Turnover fell to 3.21 billion units worth RM5.04 billion compared with Thursday's 3.30 billion units worth RM2.22 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said regional markets slipped after US Treasury Secretary Scott Bessent announced that trade talks with China had hit a standstill, reducing confidence in a long-term reduction in tariffs. 'Investors are closely monitoring the situation, as further developments in US-China trade relations could significantly impact global markets. 'We believe with geopolitical tensions and economic data offer little reassurance; Asian markets may remain volatile in the near term,' he told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan noted that despite a firmer overnight lead from Wall Street, the FBM KLCI failed to sustain its early gains, weighed down by continued foreign fund outflows and persistent macroeconomic and political uncertainties. 'The index has now erased much of its earlier momentum, sending the one-month return to -2.0 per cent and hovering just above the key psychological threshold of 1,500. 'As of yesterday, foreign investors had extended their net selling streak to 10 consecutive sessions,' he added. He said investor sentiment remains cautious as markets assess recent developments in government leadership and their implications for policy continuity and Malaysia's broader economic trajectory. On the global front, Mohd Sedek said uncertainty surrounding US trade policy continues to cloud market visibility. He said a US appeals court has stayed a prior ruling that had blocked President Donald Trump's use of reciprocal tariffs under the 1977 International Emergency Economic Powers Act, raising fresh questions about the future direction of US trade enforcement. 'While the legal process unfolds, businesses and markets are left navigating a more complex and uncertain global trade landscape,' he added. Among heavyweights, Maybank shed nine sen to RM9.78, Tenaga Nasional slipped eight sen to RM14.00, and IHH Healthcare eased one sen to RM6.90. CIMB was five sen higher at RM6.93 while Public Bank was flat at RM4.31. In active trade, KPJ Healthcare lost 24 sen to RM2.72, Velesto inched down half-a-sen to 18 sen, Tanco fell four sen to RM1, while Eco-Shop and NationGate gained seven sen each to RM1.26 and RM1.51, respectively. On the index board, the FBM Emas Index tumbled 82.53 points to 11,299.80, the FBM ACE Index fell 41.13 points to 4,551.03, but the FBMT 100 Index slid 81.02 points to 11,061.00. The FBM Emas Shariah Index lost 109.57 points to 11,256.26 and the FBM 70 Index sank 130.80 points to 16,201.51. By sector, the Financial Services Index slipped 53.03 points to 17,840.54, the Industrial Products and Services Index edged down 0.37 of-a-point to 152.65, the Energy Index eased 0.14 of-a-point to 708.04, while the Plantation Index dipped 86.10 points to 7,207.85. The Main Market volume improved to 1.88 billion units valued at RM4.82 billion against Thursday's 1.56 billion units valued at RM1.93 billion. Warrants turnover declined to 1.00 billion units worth RM111.49 million from 1.37 billion units worth RM164.04 million previously. The ACE Market volume dwindled to 318.43 million shares worth RM107.68 million from 364.60 million shares worth RM120.88 million yesterday. Consumer products and services counters accounted for 354.31 million shares traded on the Main Market, industrial products and services (280.66 million), construction (110.97 million), technology (208.24 million), SPAC (nil), financial services (213.49 million), property (181.60 million), plantation (36.80 million), REITs (24.92 million), closed/fund (23,900), energy (139.78 million), healthcare (126.76 million), telecommunications and media (100.57 million), transportation and logistics (21.18 million), utilities (90.07 million), and business trusts (11,200). — BERNAMA
Malay Mail
17 hours ago
- Business
- Malay Mail
Farhash Wafa quits as 7-Eleven Malaysia chairman after two years
KUALA LUMPUR, May 30 — Convenience store chain operator 7-Eleven Malaysia Holdings Bhd has announced the resignation of its chairman, Datuk Farhash Wafa Salvador, effective May 30, 2025. In a filing with Bursa Malaysia, the company said that Farhash, who was appointed chairman on Jan 3, 2023, has stepped down to pursue other business interests. Farhash is also the chairman of Key Alliance Group Bhd, a position he was appointed to on Jan 28, 2025. — Bernama
