Latest news with #BursaMalaysiaTechnologyIndex
New Straits Times
7 hours ago
- Business
- New Straits Times
Bursa's key index closes flat with mixed performance across broader market
KUALA LUMPUR: Bursa Malaysia ended the session broadly flat today, reflecting a mixed sectoral performance across the broader market, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.2 points or 0.08 per cent to 1,550.19 from Thursday's close of 1,548.99. The index opened 1.75 points higher at 1,550.74. The broader market, however, was slightly positive with gainers outnumbering losers 489 to 466, while 509 counters were unchanged, 902 untraded and 22 suspended. Turnover stood at 3.4 billion units worth RM2.47 billion compared with Thursday's 5.09 billion units valued at RM2.94 billion. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the gains among benchmark constituents were led by consumer-related and industrial product counters. He told Business Times that the buying interest was supported by sustained domestic demand and growing optimism in data centre-related industries, a theme increasingly prominent in Malaysia's digital infrastructure ambitions. For the week, the FBM KLCI rose 1.2 per cent on a Friday-to-Friday basis. Sedek said trading activity moderated slightly as it returns to average turnover levels suggests investors are adopting a more measured stance as they await clearer policy signals and external developments. "Since June 26, foreign investors have resumed net buying of local equities, a constructive sign that reflects growing confidence in the country's macroeconomic trajectory and improving risk appetite for regional markets," he added. Given that the Bursa Malaysia Technology Index has rebounded by over 10 per cent since its recent low on June 23, he continues to view the sector favourably. This is supported by structural tailwinds from global tech investment and Malaysia's position within regional supply chain realignment. He said a dovish policy outlook from the US Federal Reserve also offers potential upside through valuation re-rating for growth and semiconductor-related counters. "We anticipate heightened caution and intermittent volatility ahead, as investors closely monitor the evolving landscape of global trade policy. "Particular attention is centred on the US' 'Liberation Day' deadline of July 9, when elevated tariffs, ranging from 20 per cent to 30 per cent, are expected to be reinstated on countries without formalised bilateral trade deals. "Malaysia, among others, may face renewed uncertainty should negotiations remain unresolved. "President Trump has indicated that official notifications outlining new tariff rates will be issued imminently to affected trade partners," he added.
New Straits Times
17 hours ago
- Business
- New Straits Times
Bursa's technology index driven by renewed buying interest
KUALA LUMPUR: Bursa Malaysia Technology Index outshines its peers on Thursday, with four component stocks ranking among the most active on the exchange. Driven by renewed buying interest following the United States-Vietnam trade agreement, the index rose 2.1 points or 4.04 per cent to close at 54.13 from Wednesday's close of 52.03. Trading volume soared over 333 million units, reaching its highest level in seven weeks. The index, comprising 49 component stocks, has climbed 11 per cent since June 23, although it remains down 16.9 per cent year-to-date. Zetrix AI Bhd, formerly known as MyEG Services Bhd, led the most active board with more than 68 million shares traded. The stock gained one sen or one per cent to 97.5 sen from the previous close of 96.5 sen, lifting its market capitalisation to RM7.43 billion. The other three high-volume tech stocks were NexG Bhd, Dagang Nexchange Bhd (DNeX) and Inari Amertron Bhd, which saw trading volumes ranging from 28.5 million to 56 million units. NexG rose one sen or 2.6 per cent to 39 sen, DNeX climbed one sen or 3.4 per cent to 30 sen and Inari edged up 15 sen or 7.5 per cent to RM2.15. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the index was driven by robust buying interest in semiconductor and electronics-related counters, in line with the tech-led gains on Wall Street. "While the deal spares Vietnam from the most severe trade penalties, it reflects a more fragmented and protectionist global trade landscape. "While domestic market breadth remains constructive and foreign participation encouraging, the external environment continues to evolve. "Investors are advised to remain vigilant as global trade dynamics, monetary policy signals and geopolitical tensions continue to shape the near-term outlook," he added. According to Reuters, US President Donald Trump announced that Washington would impose a lower-than-expected 20 per cent tariff on a range of Vietnamese exports. He also revealed that trans-shipments from third countries routed through Vietnam would be subject to a higher 40 per cent tariff, while Vietnamese imports of US goods would enjoy a zero per cent tariff. The announcement lifted sentiment across regional markets. Vietnam's benchmark index climbed 0.6 per cent to its highest level since April 2022, while Singapore's market edged up 0.2 per cent and Thailand's stocks gained 0.9 per cent.
New Straits Times
a day ago
- Business
- New Straits Times
Malaysia's tech index outpaces peers after US-Vietnam trade deal
KUALA LUMPUR: Bursa Malaysia Technology Index outshines its peers on Thursday, with four component stocks ranking among the most active on the exchange. Driven by renewed buying interest following the United States-Vietnam trade agreement, the index rose 0.78 of-a-point or 1.5 per cent to 52.81 at midday from Wednesday's close of 52.03. Trading volume soared to 21.7 million units, reaching its highest level in nearly four weeks. The index, comprising 49 component stocks, has climbed 8.6 per cent since June 23, although it remains down 18.9 per cent year-to-date. Zetrix AI Bhd, formerly known as MyEG Services Bhd, led the most active board with over 50 million shares traded in the morning session. The stock gained one sen or one per cent to 97.5 sen from the previous close of 96.5 sen, lifting its market capitalisation to RM7.5 billion. The other three high-volume tech stocks were NexG Bhd, Dagang Nexchange Bhd (DNeX) and Inari Amertron Bhd, which saw trading volumes ranging from 20.7 million to 40.4 million units. NexG rose half a sen or 1.32 per cent to 38.5 sen, DNeX climbed half a sen or 1.71 per cent to 29.5 sen and Inari edged up four sen or two per cent to RM2.04. Malacca Securities Sdn Bhd said Wall Street's sentiment improved after the US-Vietnam trade agreement, which imposes a 20 per cent tariff on Vietnamese goods while allowing US products to be sold in Vietnam without duties. "With a positive lead from Wall Street, especially the buying interest in tech stocks following the trade deal, we expect the buying interest to spillover to the local exchange. "With the resumption of optimism surrounding the data centre developments, traders may want to monitor technology and telecommunication stocks like EG Industries Bhd, Mi Technovation Bhd and Telekom Malaysia Bhd," the firm said.
New Straits Times
2 days ago
- Business
- New Straits Times
TechStore jumps 16pct on US-Vietnam trade boost
KUALA LUMPUR: Shares of TechStore Bhd surged more than 16 per cent in active trade, fuelled by renewed buying interest in technology stocks following the United States–Vietnam trade agreement. The information technology solutions provider, which debuted on the ACE Market in February, opened 7.69 per cent or 1.5 sen higher at 19.5 sen, before rallying to 21 sen, its morning high so far. As at 10.13am, the stock was trading at 20 sen, up two sen or 11 per cent, with more than nine million shares changing hands, its busiest day in over two months. At that price, the company's market capitalisation stood at RM90 million. Since making its debut in February, the counter has touched a high of 23 sen, a 4.55 per cent gain from its listing day close of 22 sen. Its lowest point so far is 16.5 sen. Malacca Securities said Wall Street's positive overnight performance is expected to spur buying interest in local tech counters, following the new trade pact between the US and Vietnam. "With the resumption of optimism surrounding data centre developments, traders may want to monitor technology and telecommunication stocks," the firm said. At 10.23am, the Bursa Malaysia Technology Index rose 0.45 points or 0.9 per cent to 52.48, led by NexG Bhd and Zetrix AI Bhd, which topped the most active list across the broader market. According to Reuters, US President Donald Trump said the Washington would impose a lower-than-promised 20 per cent tariff on many Vietnamese exports. He also stated that trans-shipments from third countries routed through Vietnam would face a 40 per cent levy, while Vietnam could import US products at a zero per cent tariff.
The Star
08-05-2025
- Business
- The Star
FBM KLCI slips on profit-taking; tech stocks rally
KUALA LUMPUR: The FBM KLCI ended lower as profit-taking outweighed bargain-hunting, bucking the trend of regional peers following yesterday's gains. The market barometer slipped 7.16 points, or 0.46%, to close at 1,542.74—just above its intraday low of 1,541.45. Market breadth remained positive, with gainers outpacing losers by 528 to 410. Trading volume rose to 3.36 billion shares worth RM2.72bil, as profit-taking activity took the lead. Dealers noted that buying interest today was tempered by intermittent profit-taking. They expect trading on Bursa Malaysia to remain cautious moving forward. Earlier, Bank Negara announced that it has maintained the overnight policy rate (OPR) at 3.00%, where it has remained since May 2023, in line with economists' expectations. The central bank also announced it will lower the statutory reserve requirement (SRR) for banks by 100 basis points, from 2% to 1%, effective May 16, 2025. On Bursa Malaysia, Nestle tumbled 92 sen to RM86.52, Dutch Lady fell 40 sen to RM28.50, Ayer lost 38 sen to RM8 and Kuala Lumpur Kepong declined 26 sen to RM19.66. Semiconductor and technology-related counters are among the gainers on Bursa Malaysia. Bursa Malaysia Technology Index rose 2.19% to 49.83 points. Malaysian Pacific Industries gained 34 sen to RM19.90, ViTrox rose 12 sen to RM3.42, UWC climbed 13 sen to RM2.23, Dufu Technology added 10 sen to RM1.24 and Vstecs closed up 11 sen to RM3.06, On the forex market, the ringgit was down 0.88% against the greenback to 4.2770. Elsewhere in Asia, Japan's Nikkei Stock Average rose 0.41%, Hong Kong's Hang Seng Index closed up 0.37%, South Korea's Kospi gained 0.22% and China's CSI 300 Index advanced 0.56%.
