Latest news with #KLCI
New Straits Times
9 hours ago
- Business
- New Straits Times
Bursa Malaysia lower at opening, tracks Wall Street losses
KUALA LUMPUR: Bursa Malaysia opened lower today, tracking the overnight losses on Wall Street, with sentiment affected by the ongoing spat between US President Donald Trump and businessman Elon Musk. At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.78 points lower at 1,515.34 from Thursday's close of 1,518.12. The benchmark index opened at 1,516.91, less 1.21 points. Market breadth was negative, with decliners outpacing gainers 207 to 84. A total of 243 counters were unchanged, 1,812 untraded and 20 suspended. Turnover stood at 119.92 million units valued at RM70.92 million.
Barnama
29-05-2025
- Business
- Barnama
Bursa Malaysia Ends Morning Session Lower As Sentiment Turned Cautious
WORLD KUALA LUMPUR, May 29 (Bernama) -- Bursa Malaysia ended the morning session lower in choppy trading, as sentiment turned cautious despite a global rally following a US court decision to block President Donald Trump's tariffs. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.29 points to 1,522.19 from Wednesday's close of 1,523.48. The benchmark index opened 2.12 points higher at 1,525.60, fluctuating between 1,518.38 and 1,526.94 throughout the morning session. In the broader market, decliners led gainers 428 to 400, while 418 counters were unchanged, 1,140 untraded and 110 suspended. Turnover was 2.15 billion shares worth RM1.05 billion. It was reported that the US Federal Court blocked Trump's 'Liberation Day' tariffs from going into effect, ruling that the president exceeded his authority by imposing broad tariffs on imports from countries that sell more to the US than they buy. An analyst noted that despite Wall Street's overnight rally, the local bourse bucked the trend to finish in the red at midday, with investors remaining cautious while seeking further clarity on the implications of the latest tariff dispute developments, despite global markets responding positively. Among heavyweights, Maybank gained three sen to RM9.87, and Public Bank added one sen to RM4.34, while Tenaga fell two sen to RM14.08, and CIMB shed one sen to RM6.86. IHH Healthcare was flat at RM6.91. In active trade, Permaju inched down half-a-sen to one sen, while Harvest Miracle and TA Win were flat at 18 sen and two sen, respectively. Tanco gained one sen to RM1.04, and NexG gained half-a-sen to 37 sen.
The Star
27-05-2025
- Business
- The Star
AmBank may replace Hong Leong Financial Group in upcoming KLCI index review
KUALA LUMPUR: CIMB Securities Sdn Bhd anticipates that AMMB Holdings Bhd (AmBank) may replace Hong Leong Financial Group Bhd (HLFG) in the FTSE Bursa Malaysia KLCI (FBM KLCI) Index, following an upcoming KLCI semi-annual review. In a note, CIMB Securities said the review is based on share prices at the close of trading on May 26, 2025. FTSE and Bursa Malaysia will announce the preliminary results of the KLCI review on June 4 2025, a day ahead of the official release of the final review on June 5. Any changes to the index constituents will take effect on June 23, 2025, the note said. CIMB Securities said HLFG is likely to fail the liquidity screening requirement, which mandates a monthly median trading velocity of at least 0.04 per cent in eight out of the past 12 months. HLFG is one month short of the required eight months. "To remain in the KLCI during the semi-annual review, existing constituents must satisfy all three criteria. "First, in the market capitalisation ranking. Secondly, a minimum free float of 15 per cent and third, the liquidity screening,' the note said. The liquidity screen 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 per cent of its shares in issue, after applying any investability weightings, in at least eight out of the past 12 months. HLFG's weighting in the KLCI stood at 0.7 per cent as at Dec 31, 2024. CIMB Security said if an existing FBM KLCI constituent is removed from 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 per cent and has satisfied the liquidity requirement, with a monthly median trading velocity of at least 0.05 per cent in the past 12 months (Jun 2024-May 2025),' it added. - Bernama
Business Times
23-05-2025
- Business
- Business Times
STI inches up on Friday, tracking regional indices
[SINGAPORE] The Straits Times Index (STI) edged up on Friday (May 23), tracking regional indices. The STI closed up 0.1 per cent or 2.33 points to 3,882.42. Across the broader market, advancers outnumbered decliners 232 to 213, after 1.2 billion shares worth S$1.2 billion changed hands. The trio of local banks closed higher on Friday, with DBS up 0.6 per cent or S$0.27 at S$44.46, and UOB up 0.1 per cent or S$0.05 at S$35.32. OCBC closed 0.9 per cent or S$0.15 higher at S$16.29, and was the top gainer on the STI. The biggest loser was Yangzijiang Shipbuilding, which ended 3.7 per cent or S$0.08 lower at S$2.06. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Across the region, major indices closed mostly higher, with the Nikkei 225 up 0.5 cent, and Hong Kong's Hang Seng Index increasing 0.2 per cent. The KLCI similarly rose 0.6 per cent, while the Kospi closed down 0.1 per cent. Stocks are recovering from a selloff sparked by Wednesday's Treasury auction, as the bond vigilantes approved of the taxation Bill passed by the US House of Representatives, said Jose Torres, senior economist at Interactive Brokers. More expenditure reductions were offered in this new Bill compared with the original, appeasing fiscal hawk hardliners. He added that equities are also being bolstered by the flash purchasing managers' index data in services and manufacturing, with yields finding support from the Opec+ discussions favouring further oil production increases. 'Washington (was) the greatest source of optimism for equity and fixed-income bulls on Thursday, however, as investors (scooped) up offensive stocks sporting growth and cyclical characteristics, Treasuries across the curve, greenback futures, Bitcoins and forecast contracts,' said Torres.
New Straits Times
13-05-2025
- Business
- New Straits Times
US-China tariff cuts to lift Malaysian equities, KLCI target held at 1,657
KUALA LUMPUR: The temporary tariff reduction agreement between the US and China is seen as a positive development for the equity market, as it lowers the likelihood of a US or global recession and could encourage greater net foreign investment in equities. Under the deal, the US will scale back its additional tariffs on Chinese goods from 145 per cent to 30 per cent, while China will reduce its tariffs on US imports from 125 per cent to 10 per cent. According to CIMB Securities, the banking sector stands to gain from this trend due to its strong liquidity position and its close ties to the domestic economic landscape. "The plantation sector may also benefit from stronger global edible oil demand and higher crude oil prices if the broader economy improves," it said. The firm noted that in the technology sector, easing trade tensions may boost global demand for semiconductors, with Malaysian tech companies expected to maintain their competitive advantage, as US tariffs on Chinese products remain significantly higher than those on Malaysian exports. "We believe Malaysian glove manufacturers continue to enjoy a cost advantage, as US tariffs on Malaysian imports remain at 10 per cent, compared with the reduced 30 per cent tariff imposed on Chinese imports," it said. CIMB Securities has kept its target for the Kuala Lumpur Composite Index (KLCI) at 1,657 points and plans to reassess this forecast after the first quarter of 2025 (1Q25) earnings season. "We continue to prefer domestic-oriented companies with stable dividend yields, particularly in the banking, telecommunications, utilities, construction, and healthcare sectors, to provide shelter from tariff-related headwinds," the firm added. However, CIMB Securities cautioned that uncertainties remain regarding the nature of the agreement that will result after the 90-day period and whether the current easing of tensions will be maintained. "Additionally, US tariffs on China, although reduced to 30 per cent, remain significantly higher than the 10 per cent tariff currently imposed on other trading partners," CIMB Securities added.
