Latest news with #HongLeongFinancialGroup
The Star
29-05-2025
- Business
- The Star
FBM KLCI falls for fourth day, bucking regional uptrend
KUALA LUMPUR: While most regional markets rallied after a U.S. trade court blocked President Donald Trump's sweeping tariffs, the FBM KLCI slipped into the red again, marking its fourth consecutive day of losses. At 5pm, the 30-stock index fell 4.5 points, or 0.3%, to 1,518.98 — just slightly above its intraday low of 1,518.38. It had earlier touched an intraday high of 1,526.94. Gainers and losers were closely balanced, with 466 gainers against 478 losers and 460 that were flat. Volume was 3.3 billion shares, valued at RM2.22bil. Dealers expect near-term conditions to remain lacklustre due to lingering tariff headwinds and a limited number of domestic catalysts, which could keep most market participants on the sidelines for the time being. Among the losers on Bursa Malaysia, Panasonic Manufacturing slid 54 sen to RM13, Hong Leong Financial Group fell 44 sen to RM26.26, Ajinomoto eased 28 sen to RM14.24 and Hong Leong Bank declined 28 sen to RM19.62. Conversely, Malaysian Pacific Industries surged RM1.78 to RM19.86, Hong Leong Industries gained 30 sen to RM14.30, PETRONAS Dagangan added 30 sen to RM20.50 and Batu Kawan rose 28 sen to RM19.18. In the forex market, the ringgit slipped 0.32% against the US dollar to 4.2382, and declined 0.13% versus the Singapore dollar at 3.2845. Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.63%. Japan's Nikkei 225 rose 1.88% to close at 38,432.98, South Korea's Kospi gained 1.89% to 2,720.64, and Hong Kong's Hang Seng Index ended 1.35% higher at 23,573.38. China's blue-chip CSI300 index rose 0.59% to close at 3,858.70, while the Shanghai Composite Index added 0.7% to finish at 3,363.45.
The Star
29-05-2025
- Business
- The Star
Bursa Malaysia stays cautious amid global rally as US court blocks tariffs
KUALA LUMPUR: There was a relative quiet on Malaysia's stock market as investors in global markets celebrated a ruling from a US trade court that stopped US President Donald Trump's tariffs from going into effect. Malaysia's benchmark FBM KLCI rose 2.12 points to 1,525.60 at the opening bell, but subsequently subsided to reflect the uncertain sentiment. As global markets celebrate, there remains an air of caution as it remains to be seen what the latest development in the tariffs saga means. Asian markets and US futures rallied in response to the prospect of an end to the assault on the global trade order even as analysts caution the final word may remain with the Supreme Court, as well as Trump's willingness to abide with the ruling of the judiciary. On Bursa Malaysia, banking heavyweights disappointed with recent earnings results. Hong Leong Bank dropped 20 sen to MR19.70 while its holding company Hong Leong Financial Group shed 12 sen to RM16.58. RHB Bank dropped 15 sen to RM6.52. Telekom Malaysia fell 20 sen to RM6.65. Among the most active counters, Harvest Miracle was flat at 18 sen, Ta Win was unchanged at two sne and Nationgate rose three sen to RM1.61. In early Asian trade, Japan's Nikkei rose 1.52% to 38.297, and South Korea's Kospi gained 1.28% to 2,704. Singapore's Sraits Times, however, dipped 0.2% to 3,904. US futures were buoyant with the S&P mini rising 1.4% and the Nasdaq mini climbing 1.8%. Trading ideas: Samaiden, Pestech, Jati, Paradigm REIT, Bursa, MPI, THB, HLB, TM, Axiata, MISC, Genting Plantations, IOIProp, SimeProp, Kerjaya, AAX, 7-Eleven
Free Malaysia Today
27-05-2025
- Business
- Free Malaysia Today
Hong Leong likely to drop out of FBM KLCI index
The Hong Leong Financial Group has failed to meet the requirements to enable it to stay on the FTSE Bursa Malaysia index. (Facebook pic) KUALA LUMPUR : Hong Leong Financial Group Bhd (HLFG) is likely to be replaced by AMMB Holdings Bhd (AmBank) on the FTSE Bursa Malaysia (FBM KLCI) index when the semi-annual review comes up next week. CIMB Securities Sdn Bhd expects HLFG to fail the liquidity screening requirement, which mandates a monthly median trading velocity of at least 0.04% in eight of the past 12 months. The group has met the requirement for only seven months. The review, to be based on share prices at the close of trading yesterday, is scheduled for June 4, a day before the official release of the final review. Any change in the index constituents will take effect on June 23, according to a note issued by CIMB Securities this morning. The FBM KLCI tracks the performance of the 30 largest companies by market capitalisation that are listed on the main board of Bursa Malaysia. To remain on the index, existing constituents must satisfy three criteria, which are to meet market capitalisation ranking requirements, maintain a free float of 15% and pass the liquidity screening test. The liquidity screening test assesses the median daily trading volume as a percentage of shares in issue over a 12-month review period. A stock must maintain a monthly median daily trading volume of at least 0.04% of its shares in issue, after applying any investability weightings, in at least eight out of the past 12 months. If an existing FBM KLCI constituent drops out of the index, it will be replaced by the highest-ranking non-constituent company based on market capitalisation. 'As of May 26, AmBank holds this position. Our checks also confirm that AmBank meets the other two inclusion criteria: it has a minimum free float of at least 15% and has satisfied the liquidity requirement, with a monthly median trading velocity of at least 0.05% in the past 12 months (June 2024–May 2025),' CIMB Securities added.
