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Malay Mail
2 days ago
- Business
- Malay Mail
Bursa Malaysia opens higher, buoyed by Wall Street rally after softer US inflation data
KUALA LUMPUR, Aug 13 — Bursa Malaysia opened higher today, mirroring Wall Street's overnight rally after the latest US consumer price index figure came in slightly below expectations, thus paving the way for a possible Federal Reserve rate cut next month. The US recorded a softer inflation rate of 2.7 per cent in July, below consensus estimates for headline CPI at 2.8 per cent and core CPI at 3.0 per cent for July. At 9.17am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.30 points, or 0.15 per cent, to 1,570.20 from yesterday's close of 1,567.90. The benchmark index had earlier opened 1.17 points firmer at 1,569.07. Market breadth was positive, with advancers leading gainers 286 to 107. A total of 269 counters were unchanged, 1,860 untraded and 18 suspended. Turnover stood at 298.39 million shares worth RM112.24 million. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said overall trading remained lacklustre as traders were mostly side-lined ahead of more economic data and corporate earnings. 'Back home, the FBM KLCI closed firmer but off the day's high, possibly due to profit-taking activities. 'Despite the 30 points gain over the past five days, we regard the local bourse's valuation remains reasonable, hence expect more legs for the index towards the 1,600 level,' he told Bernama. For today, he expects the index to trend within the 1,565-1,580 range. Among the heavyweights, Maybank added 2.0 sen to RM9.73, CIMB perked up 6.0 sen to RM7.07, Public Bank eased 1.0 sen to RM4.39, while Tenaga Nasional and IHH Healthcare were flat at RM13.58 and RM6.82 respectively. On the actively traded list, NexG was 1.0 sen better at 41 sen, Efficient E-Solutions gained 1.5 sen to 12.5 sen, Lotte Chemical Titan increased 2.5 sen to 56.5 sen, while Classita and TWL were flat at 9.5 sen and 2.5 sen respectively. On the broader market, the FBM Emas Index expanded 28.13 points to 11,703.63, the FBMT 100 Index widened by 26.42 points to 11,482.60, the FBM Emas Shariah Index climbed 21.64 points to 11,687.02, the FBM ACE Index picked up 3.07 points to 4,641.21 and the FBM Mid 70 Index jumped 80.44 points to 16,681.08. By sector, the Financial Services Index appreciated 62.95 points to 17,877.60, the Plantation Index bagged 16.16 points to 7,547.97, the Industrial Products and Services Index inched up 0.17 of a point to 160.23, and the Energy Index strengthened by 1.18 points to 739.56. — Bernama
Yahoo
3 days ago
- Business
- Yahoo
CPI in July Puts Pre-Markets in a Good Mood
Tuesday, August 12, 2025Pre-market futures are rising from modest levels in the green this morning, a direct result of seeing better-than-expected Consumer Price Index (CPI) numbers in the July report ahead of the opening bell. Just prior to this important economic release — including an updated Inflation Rate — we were +44 points on the Dow, +7 on the S&P 500 and +38 on the Nasdaq, currently we are +275 points on the Dow, +43 points on the S&P 500 and +190 points on the small-cap Russell 2000 is up +1.24%, or +27 points on the news, the biggest jump of all the major indexes this morning. We're also seeing bond yields tick up on the news, by nearly 30 basis points (bps) on the 10-year to 4.27% — now back up over the median level of the past year, after spending the month of August below it so far — and +10 bps to 3.73%. Part of this relief rally may also be due to yet another reprieve on Chinese tariffs from over the weekend, kicked out another 90 days to November 10th. Recall that post-'Liberations Day,' China was suffering the wrath of President Trump and was looking at +145% tariffs on imported Chinese goods, which for many American companies make up more than 50% on its inventory. But this was initially pushed out to July 9th, then August 1st, then August 12th (today), now November this morning's good news — aligned with an overall better-than-expected Q2 earnings season now on the 'back nine' — is multi-factorial: tariff inflation has yet to hit the economy in the mouth (and according to some, maybe never will) and tariff policy continues to push out further down the calendar. Not a bad set-up for a nice day for the stock market. CPI for July Mostly In-Line Headline month-over-month Consumer Price Index (CPI) for the month of July came in at +0.2%, in-line with expectations and 10 bps lower than June's +0.3%. Core CPI month over month — subtracting volatile food and energy prices — was also in-line with estimates at +0.3%, +10 bps from the previous over year CPI on headline, aka the 'Inflation Rate,' was lower by 10 bps from expectations to +2.7%, in-line month over month. This figure remains in the pocket between recent lows (+2.3% in April) and +3.0% in January. Core CPI year over year was the highest print of this series, +3.1%, the largest number since February and +20 bps higher month over a positive attitude from market participants on inflation this morning. We're not seeing tariffs appear in things like apparel at this point, energy prices have remained lower, and owner's equivalent rent have kept steady. Furnishings and Services, meanwhile, have begun to show some signs of inflation. Q2 Earnings Before the Bell: ONON, SFD, TME On Semiconductor ONON shares are up +14% in early trading on +32% net sales growth year over year, led by +47.2% in Direct-to-Consumer (DTC), +47.2%, and Adjusted EBITDA +220 bps to +18.2%. But the bottom line provided a big -145.8% earnings miss to -$0.11 per share. Meanwhile, Smithfield Foods SFD missed earnings estimates by a penny to 55 cents per share, helping send the stock down -3% so far this morning, even as the company's operating profit outlook improved. Tencent Music Entertainment TME beat estimates by +15% this morning, and shares are up +7% on the or comments about this article and/or author? Click here>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Smithfield Foods, Inc. (SFD) : Free Stock Analysis Report Tencent Music Entertainment Group Sponsored ADR (TME) : Free Stock Analysis Report On Holding AG (ONON) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Pre-Markets Rise on Moderate July Headline CPI Data
Pre-market futures are rising from modest levels in the green this morning, a direct result of seeing better-than-expected Consumer Price Index (CPI) numbers in the July report ahead of the opening bell. Just prior to this important economic release — including an updated Inflation Rate — we were +44 points on the Dow, +7 on the S&P 500 and +38 on the Nasdaq, currently we are +275 points on the Dow, +43 points on the S&P 500 and +190 points on the small-cap Russell 2000 is up +1.24%, or +27 points on the news, the biggest jump of all the major indexes this morning. We're also seeing bond yields tick up on the news, by nearly 30 basis points (bps) on the 10-year to 4.27% — now back up over the median level of the past year, after spending the month of August below it so far — and +10 bps to 3.73%. Part of this relief rally may also be due to yet another reprieve on Chinese tariffs from over the weekend, kicked out another 90 days to November 10th. Recall that post-'Liberations Day,' China was suffering the wrath of President Trump and was looking at +145% tariffs on imported Chinese goods, which for many American companies make up more than 50% on its inventory. But this was initially pushed out to July 9th, then August 1st, then August 12th (today), now November this morning's good news — aligned with an overall better-than-expected Q2 earnings season now on the 'back nine' — is multi-factorial: tariff inflation has yet to hit the economy in the mouth (and according to some, maybe never will) and tariff policy continues to push out further down the calendar. Not a bad set-up for a nice day for the stock market. CPI for July Mostly In-Line Headline month-over-month Consumer Price Index (CPI) for the month of July came in at +0.2%, in-line with expectations and 10 bps lower than June's +0.3%. Core CPI month over month — subtracting volatile food and energy prices — was also in-line with estimates at +0.3%, +10 bps from the previous over year CPI on headline, aka the 'Inflation Rate,' was lower by 10 bps from expectations to +2.7%, in-line month over month. This figure remains in the pocket between recent lows (+2.3% in April) and +3.0% in January. Core CPI year over year was the highest print of this series, +3.1%, the largest number since February and +20 bps higher month over a positive attitude from market participants on inflation this morning. We're not seeing tariffs appear in things like apparel at this point, energy prices have remained lower, and owner's equivalent rent have kept steady. Furnishings and Services, meanwhile, have begun to show some signs of inflation. Q2 Earnings Before the Bell: ONON, SFD, TME On Semiconductor ONON shares are up +14% in early trading on +32% net sales growth year over year, led by +47.2% in Direct-to-Consumer (DTC), +47.2%, and Adjusted EBITDA +220 bps to +18.2%. But the bottom line provided a big -145.8% earnings miss to -$0.11 per share. Meanwhile, Smithfield Foods SFD missed earnings estimates by a penny to 55 cents per share, helping send the stock down -3% so far this morning, even as the company's operating profit outlook improved. Tencent Music Entertainment TME beat estimates by +15% this morning, and shares are up +7% on the news. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Smithfield Foods, Inc. (SFD) : Free Stock Analysis Report Tencent Music Entertainment Group Sponsored ADR (TME) : Free Stock Analysis Report On Holding AG (ONON) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
