Latest news with #Inter-Pacific
The Star
11 hours ago
- Business
- The Star
FBM KLCI rebounds in early trade on U.S.-China trade optimism
KUALA LUMPUR: The FBM KLCI surged in early Wednesday trade, lifted by optimism over U.S.-China trade talks, as investors awaited further developments. In London, negotiators from Washington and Beijing said they had 'agreed a framework on trade' to present to their leaders, Reuters reported. The FBM KLCI rebounded sharply, climbing 11.58 points, or 0.76%, to 1,528.49 as of 9:18 a.m., after opening 3.91 points higher at 1,520.86. Inter-Pacific Research noted that the key index seems to have found support just above the psychological 1,500 level and is likely to hold steady in the near term. This comes as market participants remain focused on the ongoing U.S.-China trade talks, which are still at a standstill following another round of inconclusive overnight negotiations. Nevertheless, the research house said the FBM KLCI is likely to head higher, as a mild upside bias may persist over the near term, partly supported by optimism that a trade deal between the U.S. and China could be reached. 'At the same time, the selling pressure is also easing somewhat and should allow for more bargain hunting to emerge for now. 'On the upside, there are resistances at the 1,523-1,525 levels and 1,530 points respectively. The supports, meanwhile, are at 1,510 and 1,503 points respectively,' Inter-Pacific said. Meanwhile, Rakuten Trade observed that in the absence of fresh incentives, there has been little appeal for traders to engage with the local bourse, leading to waning interest and subdued trading activity in recent months. 'Even the IPOs were not spared as most registered marginal gains at best. 'For today, we expect the index to hover within the 1,510-1,520 range,' it said. On the local bourse, Nestle jumped 78 sen to RM75.78, PETRONAS Dagangan added 38 sen to RM20.92, United Plantations gained 30 sen to RM21.96 and Allianz rose 26 sen to RM19.38. Country View slid 11 sen to RM2.25, F&N declined eight sen to RM27.72, Carlsberg fell four sen to RM19.68 and Hong Leong Industries lost four sen to RM13.54. Overnight, the S&P 500 climbed 0.55% to end the session at 6,038.81 points. The Nasdaq gained 0.63% to 19,714.99 points, while the Dow Jones Industrial Average rose 0.25% to 42,866.87 points.
The Star
a day ago
- Business
- The Star
FBM KLCI steadies above 1,500 amid cautious sentiment over trade talks
KUALA LUMPUR: The FBM KLCI started Tuesday on a cautious note, with mild early movements reflecting subdued investor sentiment amid ongoing U.S.-China trade uncertainty and continued foreign outflows from the local market. The market barometer saw tepid swings in early trade today, opening marginally higher at 1,519.71, dipping to 1,517.74, and then inching up 0.65 points to 1,520.06 as of 9.21 am. Overnight, the S&P 500 climbed 0.09% to end the session at 6,005.88 points. The Nasdaq gained 0.31% to 19,591.24 points, while the Dow Jones Industrial Average ended essentially unchanged at 42,761.76 points. Among the gainers on Bursa Malaysia, PETRONAS Gas rose 14 sen to RM18.28, Carlsberg added 10 sen to RM19.56, Malaysian Pacific Industries gained eight sen to RM20.98 and 99 Speed Mart climbed five sen to RM2.15. Nestle tumbled 72 sen to RM75.02, APM slid 43 sen to RM3, Panasonic Manufacturing lost 12 sen to RM11.80 and Tenaga declined eight sen to RM14.20. Rakuten Trade expects the FBM KLCI to trend within the 1,515-1,525 range today. The research house noted that, so far this year, the local bourse has recorded over RM11bil in net foreign outflows, as investors shift their attention to the more robust Hong Kong market. 'No thanks to Trump's flip-flop tariff policy, consensus has downgraded overall earnings by corporate Malaysia, namely the banks, hence the lacklustre interest in the local equities,' Rakuten said. Meanwhile, Inter-Pacific Research noted that the key index seems to have found support just above the psychological 1,500 level, a position it is likely to hold in the near term. This comes as market participants remain cautious, awaiting the outcome of ongoing U.S.-China trade talks, which remain at a standstill following inconclusive overnight negotiations. Even so, Inter-Pacific said the FBM KLCI is likely to trend higher, with a mild upside bias expected to persist in the near term, supported in part by optimism that a trade deal between the two sides could eventually be reached. 'At the same time, the selling pressure is also easing somewhat and should allow for more bargain hunting to emerge for now. 'On the upside, there are resistances at the 1,523-1,525 levels and 1,530 points respectively. The supports, meanwhile, are at 1,510 and 1,503 points respectively,' Inter-Pacific said.
The Star
2 days ago
- Business
- The Star
Bursa starts week higher amid cautious market conditions
KUALA LUMPUR: Bursa Malaysia opened slightly higher on Monday, but overall sentiment remained cautious amid weak trading activity and a lack of fresh market catalysts. The FBM KLCI rose 2.44 points, or 0.16%, to 1,519.23 at 9.19 am, after opening 1.27 points higher at 1,518.06. Among the gainers, F&N rose 50 sen to RM27.88, Hong Leong Bank added 28 sen to RM19.88, Nestle gained 26 sen to RM77.38 and Malaysian Pacific Industries up 20 sen to RM20.40. United Plantations fell 10 sen to RM21.54, Sungei Bagan Rubber Company eased five sen to RM6.30, MNRB declined four sen to RM1.92 and BAT gave up four sen to RM5.21. ACE Market debutant Hartanah Kenyalang Bhd fell 0.5 sen to 15.5 sen, with 13.28 million shares traded. Inter-Pacific said overall market conditions remain subdued despite a decent rebound over the past week, citing a lack of significant catalysts to stimulate fresh buying interest. Consequently, the research house expects the FBM KLCI to remain moribund, as sentiment stays largely indifferent amid ongoing global economic challenges that may weigh on Malaysia's economic outlook. 'Amid the thinner market participation as market players await for more convincing impetuses, we see the key index maintaining its drifting trend for now as it also looks to fortify its position above the psychological 1,500 level for now with the interim support located at the 1,510-1,512 levels, followed by 1,507 points. 'The resistances, on the other hand, are at 1,522 and 1,527 points respectively,' Inter-Pacific said. It added that broader market conditions may start the week mixed to lower, weighed down by the absence of catalysts and weak participation in lower liner stocks. Meanwhile, Rakuten Trade noted that trading activity remained subdued, as reflected in the weak daily volume, which fell below the 2.0 billion shares mark. This was likely due to the recent wave of benchmark index target downgrades for 2025 by the research fraternity. 'As such, we expect the index to hover within the 1,510-1,520 range today,' it said.
