Latest news with #HongLeongInvestmentBankBhd
The Star
4 days ago
- Business
- The Star
Bursa Malaysia lower at midday amid cautious sentiment, heavyweight selling
KUALA LUMPUR: Bursa Malaysia was lower at midday, dragged down by selling in selected utilities, consumer products and services heavyweight counters, amid lingering cautious sentiment surrounding global trade tariffs. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased by 1.30 points, or 0.08 per cent, to 1,517.68 from Thursday's close of 1,518.98. The benchmark index opened 2.24 points higher at 1,521.22, fluctuating between 1,513.42 and 1,522.06 throughout the morning session. On the broader market, decliners thumped gainers 559 to 258, while 363 counters were unchanged, 1,214 untraded and 86 suspended. Turnover stood at 1.55 billion units worth RM1.27 billion. Hong Leong Investment Bank Bhd, in a note today, said sentiment remained fragile amid persistent foreign outflows, earnings headwinds, and speculation over a potential cabinet reshuffle following the resignations of the minister of economy and the minister of natural resources and environmental sustainability. "Adding to the cautious tone are renewed concerns over a tariff-driven global slowdown and ongoing legal tussles surrounding US President Donald Trump's trade policies, which could weigh on market confidence and pressure Malaysia's growth and earnings outlook,' it said. It was reported that Trump's reinstatement of tariffs, upheld by a US appeals court, could eventually be challenged in the Supreme Court to overturn the initial federal court ruling. Among heavyweights, Maybank erased three sen to RM9.84, Tenaga slipped eight sen to RM14.00, while IHH Healthcare was flat at RM6.91. Public Bank increased one sen to RM4.32, and CIMB rose five sen to RM6.93. In active trade, Eco Shop and Nationgate gained six sen each to RM1.25 and RM1.50, respectively. KPJ Healthcare fell by 21 sen to RM2.75, Tanco eased one sen to RM1.03, and Cape EMS shed two sen to 21.5 sen. On the index board, the FBM Emas Index shaved 35.92 points to 11,346.41, the FBMT 100 Index lost 32.18 points to 11,109.83, and the FBM ACE Index decreased 41.40 points to 4,550.76. The FBM Emas Shariah Index slipped 55.84 points to 11,309.99, while the FBM 70 Index sank 136.93 points to 16,195.38. Sector-wise, the Financial Services Index added 13.42 points to 17,906.99, the Industrial Products and Services Index edged down 0.51 of-a-point to 152.51, the Energy Index eased 3.09 points to 705.09, and the Plantation Index fell 11.54 points to 7,282.41. - Bernama
New Straits Times
4 days ago
- Business
- New Straits Times
Bursa Malaysia lower at midday amid cautious sentiment, heavyweight selling
KUALA LUMPUR: Bursa Malaysia was lower at midday, dragged down by selling in selected utilities, consumer products and services heavyweight counters, amid lingering cautious sentiment surrounding global trade tariffs. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased by 1.30 points, or 0.08 per cent, to 1,517.68 from Thursday's close of 1,518.98. The benchmark index opened 2.24 points higher at 1,521.22, fluctuating between 1,513.42 and 1,522.06 throughout the morning session. On the broader market, decliners thumped gainers 559 to 258, while 363 counters were unchanged, 1,214 untraded and 86 suspended. Turnover stood at 1.55 billion units worth RM1.27 billion. Hong Leong Investment Bank Bhd, in a note today, said sentiment remained fragile amid persistent foreign outflows, earnings headwinds, and speculation over a potential cabinet reshuffle following the resignations of the minister of economy and the minister of natural resources and environmental sustainability. "Adding to the cautious tone are renewed concerns over a tariff-driven global slowdown and ongoing legal tussles surrounding US President Donald Trump's trade policies, which could weigh on market confidence and pressure Malaysia's growth and earnings outlook," it said. It was reported that Trump's reinstatement of tariffs, upheld by a US appeals court, could eventually be challenged in the Supreme Court to overturn the initial federal court ruling. Among heavyweights, Maybank erased three sen to RM9.84, Tenaga slipped eight sen to RM14.00, while IHH Healthcare was flat at RM6.91. Public Bank increased one sen to RM4.32, and CIMB rose five sen to RM6.93. In active trade, Eco Shop and Nationgate gained six sen each to RM1.25 and RM1.50, respectively. KPJ Healthcare fell by 21 sen to RM2.75, Tanco eased one sen to RM1.03, and Cape EMS shed two sen to 21.5 sen. On the index board, the FBM Emas Index shaved 35.92 points to 11,346.41, the FBMT 100 Index lost 32.18 points to 11,109.83, and the FBM ACE Index decreased 41.40 points to 4,550.76. The FBM Emas Shariah Index slipped 55.84 points to 11,309.99, while the FBM 70 Index sank 136.93 points to 16,195.38. Sector-wise, the Financial Services Index added 13.42 points to 17,906.99, the Industrial Products and Services Index edged down 0.51 of-a-point to 152.51, the Energy Index eased 3.09 points to 705.09, and the Plantation Index fell 11.54 points to 7,282.41.
New Straits Times
4 days ago
- Business
- New Straits Times
HLIB drops DNeX coverage, flags softer outlook for energy segment
KUALA LUMPUR: Hong Leong Investment Bank Bhd (HLIB Research) has ceased coverage of Dagang NeXchange Bhd (DNeX) due to internal resource reallocation. The firm said as such, its previous forecasts, recommendations and target price should no longer be relied upon as a reference going forward. On outlook, HLIB Research said DNeX's energy segment is expected to record a sequential earnings decline in the second quarter of 2025 (2Q25), due to easing crude oil prices, driven by US Liberation Day tariffs and OPEC's aggressive output expansion. It added that the group's subsidiary, SilTerra Malaysia Sdn Bhd, returned to positive Ebitda this quarter, driven by improved wafer shipments and blended average selling prices in the emerging technology segment. This was underpinned by efforts in staff rationalisation and the growing contribution from emerging technology, particularly silicon photonics, which typically yields higher margins. "Nonetheless, we believe SilTerra will remain in red in the near-term as its utilisation rate is unlikely to go above 80 per cent, given the cloudy semiconductor outlook due to the rising trade tensions," it noted. For the first quarter ended March 31, 2025 (1Q25), DNeX registered a core net profit of RM17.8 million, which HLIB Research deemed broadly in line with its FY25 forecasts, accounting for 22 per cent of the full-year estimate. However, the group posted a net loss of RM79.04 million for the quarter, compared with a net profit of RM14.46 million a year earlier, mainly due to higher interest expenses. Quarterly revenue declined by 4.19 per cent to RM296.83 million, from RM309.82 million in 1Q24. The decrease was primarily attributed to weaker contributions from the energy and information technology segments, which offset gains in the technology segment.
Barnama
6 days ago
- Business
- Barnama
FBM KLCI Ends Slightly Higher At Midday On Cautious Sentiment
KUALA LUMPUR, May 28 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) ended slightly higher at midday as bargain-hunting was offset by cautious sentiment amid persistent global uncertainties. At 12.30 pm, the FBM KLCI increased 0.34 of a point to 1,526.50 from Tuesday's close of 1,526.16. The benchmark index opened 3.98 points higher at 1,530.14, and fluctuated between 1,524.04 and 1,532.80 throughout the morning session. In the broader market, decliners led gainers 418 to 349, with 468 counters unchanged, 1,161 untraded and 50 suspended. Turnover stood at 1.49 billion units worth RM931.68 million. Hong Leong Investment Bank Bhd said it expects the FBM KLCI to remain volatile in the near term as investor sentiment stays cautious amid the earnings peak this week and continued foreign net outflows. 'Concerns over a tariff-driven global slowdown continue to weigh on market confidence, posing risks to Malaysia's economic momentum and corporate earnings,' it said in a note today. That said, downside risks may be mitigated by encouraging remarks from Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz on potential US-Malaysia trade deal prospects and strategic collaboration opportunities with ASEAN, Gulf Cooperation Council and China, it added. The investment bank said key weekly support is established between the 1,500 and 1,519 levels, while resistance is expected to emerge within the 1,550 to 1,570 range.
The Star
6 days ago
- Business
- The Star
FBM KLCI ends slightly higher at midday on cautious sentiment
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) ended slightly higher at midday as bargain-hunting was offset by cautious sentiment amid persistent global uncertainties. At 12.30 pm, the FBM KLCI increased 0.34 of a point to 1,526.50 from Tuesday's close of 1,526.16. The benchmark index opened 3.98 points higher at 1,530.14, and fluctuated between 1,524.04 and 1,532.80 throughout the morning session. In the broader market, decliners led gainers 418 to 349, with 468 counters unchanged, 1,161 untraded and 50 suspended. Turnover stood at 1.49 billion units worth RM931.68 million. Hong Leong Investment Bank Bhd said it expects the FBM KLCI to remain volatile in the near term as investor sentiment stays cautious amid the earnings peak this week and continued foreign net outflows. "Concerns over a tariff-driven global slowdown continue to weigh on market confidence, posing risks to Malaysia's economic momentum and corporate earnings,' it said in a note today. That said, downside risks may be mitigated by encouraging remarks from Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz on potential US-Malaysia trade deal prospects and strategic collaboration opportunities with ASEAN, Gulf Cooperation Council and China, it added. The investment bank said key weekly support is established between the 1,500 and 1,519 levels, while resistance is expected to emerge within the 1,550 to 1,570 range. Among heavyweight counters, Maybank, CIMB and IHH Healthcare were flat at RM9.85, RM6.90 and RM6.90 respectively, while Public Bank fell three sen to RM4.35 and Tenaga Nasional rose 10 sen to RM14.10. As for active stocks, Permaju went down half-a-sen to 1.5 sen, Sapura Energy was flat at four sen, while Velesto , Tanco and Magma added one sen each to 17.5 sen, RM1.02 and 43 sen respectively. On the index board, the FBM Emas Index added 5.64 points to 11,402.70, the FBMT 100 Index was 7.97 points better at 11,168.34, but the FBM ACE Index erased 20.16 points to 4,553.44. The FBM Emas Shariah Index increased 13.46 points to 11,367.58 and the FBM 70 Index gained 33.50 points to 16,256.81. Across the sectors, the Financial Services Index shed 38.18 points to 18,010.50, the Industrial Products and Services Index inched down 0.78 of-a-point to 152.66, the Energy Index added 3.89 points to 702.55, while the Plantation Index fell 75.63 points to 7,301.01. - Bernama
