Latest news with #MohdSedek
The Sun
3 days ago
- Business
- The Sun
Bursa Malaysia likely to see volatile trading next week pending key market developments
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trade within a volatile range of 1,500 to 1,530 next week, pending the emergence of new market-moving developments. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market sentiment will remain subdued, with investors maintaining a wait-and-see approach. 'From a technical standpoint, the FBM KLCI is in a correction phase, trading below its key moving averages, with technical indicators pointing to short-term weakness. 'Nonetheless, there are signs that the index may be positioning for a recovery, particularly if macroeconomic pressures subside and regional sentiment improves,' he told Bernama. Thong said a clear break above the 1,535 level could confirm a shift towards bullish momentum. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI is expected to trade in a narrow range in the absence of clear catalysts. 'Should the index fall below the 1,500 level, bargain hunting may emerge — especially in undervalued large-cap names. 'Volatility may also increase due to several external triggers. South Korea's presidential election on Tuesday could influence regional sentiment, while investors will be closely monitoring a series of economic data releases from China, Japan, South Korea, Taiwan, and Malaysia — including updates on exports, inflation, and purchasing managers' indices,' he said. Mohd Sedek noted that Bursa Malaysia will see a shortened four-day trading week next week, due to the long weekend, which could lead to thinner trading volumes and heightened market volatility. 'Investors should remain vigilant, maintain diversified portfolios, and be prepared for intermittent of volatility as uncertainty continues to shape the investment landscape,' he added. Mohd Sedek said a US appeals court has stayed a prior ruling that had blocked President Donald Trump's use of reciprocal tariffs under the 1977 International Emergency Economic Powers Act, raising fresh questions about the future direction of US trade enforcement. Bursa Malaysia Bhd and its subsidiaries will be closed on June 2, 2025, in conjunction with the official birthday of His Majesty Sultan Ibrahim, King of Malaysia. The exchange and its subsidiaries will resume operations on Tuesday, June 3, 2025. For the week just ended, Bursa Malaysia retreated from earlier gains and ended lower on Friday weighed down by continued selling pressure in heavyweight and mid-cap stocks amid downbeat regional sentiment, following the uncertainty surrounding US trade policy. On a Friday-to-Friday basis, the barometer index fell 27.03 points to 1,508.35 from 1,535.38 a week earlier. The FBM Emas Index dipped 174.25 points to 11,299.80, the FBMT 100 Index slipped 172.10 points to 11,061.00, and the FBM Emas Shariah Index declined 169.96 points to 11,256.26. The FBM 70 Index lost 148.75 points to 16,201.51, and the FBM ACE Index fell 64.91 points to 4,551.03. Across sectors, the Financial Services Index tumbled 262.04 points to 17,840.54, the Industrial Products and Services Index was 1.39 points easier at 152.65, and the Energy Index shed 2.73 points to 708.04. The Plantation Index shrank 122.46 points to 7,207.85 and the Healthcare Index dropped 16.94 points to 1,816.95. Turnover advanced to 14.80 billion units valued at RM12.78 billion from 14.05 billion units valued at RM11.28 billion in the preceding week. The Main Market volume improved to 7.21 billion units worth RM11.50 billion against 7.14 billion units worth RM10.06 billion. Warrants turnover expanded to 5.90 billion units worth RM721.75 million against 5.13 billion units worth RM645.54 million a week ago. The ACE Market volume narrowed to 1.66 billion units valued at RM543.90 million from 1.78 billion units valued at RM563.52 million.
The Sun
3 days ago
- Business
- The Sun
FBM KLCI to trade between 1,500 -1,530 amid uncertainty
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trade within a volatile range of 1,500 to 1,530 next week, pending the emergence of new market-moving developments. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market sentiment will remain subdued, with investors maintaining a wait-and-see approach. 'From a technical standpoint, the FBM KLCI is in a correction phase, trading below its key moving averages, with technical indicators pointing to short-term weakness. 'Nonetheless, there are signs that the index may be positioning for a recovery, particularly if macroeconomic pressures subside and regional sentiment improves,' he told Bernama. Thong said a clear break above the 1,535 level could confirm a shift towards bullish momentum. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI is expected to trade in a narrow range in the absence of clear catalysts. 'Should the index fall below the 1,500 level, bargain hunting may emerge — especially in undervalued large-cap names. 'Volatility may also increase due to several external triggers. South Korea's presidential election on Tuesday could influence regional sentiment, while investors will be closely monitoring a series of economic data releases from China, Japan, South Korea, Taiwan, and Malaysia — including updates on exports, inflation, and purchasing managers' indices,' he said. Mohd Sedek noted that Bursa Malaysia will see a shortened four-day trading week next week, due to the long weekend, which could lead to thinner trading volumes and heightened market volatility. 'Investors should remain vigilant, maintain diversified portfolios, and be prepared for intermittent of volatility as uncertainty continues to shape the investment landscape,' he added. Mohd Sedek said a US appeals court has stayed a prior ruling that had blocked President Donald Trump's use of reciprocal tariffs under the 1977 International Emergency Economic Powers Act, raising fresh questions about the future direction of US trade enforcement. Bursa Malaysia Bhd and its subsidiaries will be closed on June 2, 2025, in conjunction with the official birthday of His Majesty Sultan Ibrahim, King of Malaysia. The exchange and its subsidiaries will resume operations on Tuesday, June 3, 2025. For the week just ended, Bursa Malaysia retreated from earlier gains and ended lower on Friday weighed down by continued selling pressure in heavyweight and mid-cap stocks amid downbeat regional sentiment, following the uncertainty surrounding US trade policy. On a Friday-to-Friday basis, the barometer index fell 27.03 points to 1,508.35 from 1,535.38 a week earlier. The FBM Emas Index dipped 174.25 points to 11,299.80, the FBMT 100 Index slipped 172.10 points to 11,061.00, and the FBM Emas Shariah Index declined 169.96 points to 11,256.26. The FBM 70 Index lost 148.75 points to 16,201.51, and the FBM ACE Index fell 64.91 points to 4,551.03. Across sectors, the Financial Services Index tumbled 262.04 points to 17,840.54, the Industrial Products and Services Index was 1.39 points easier at 152.65, and the Energy Index shed 2.73 points to 708.04. The Plantation Index shrank 122.46 points to 7,207.85 and the Healthcare Index dropped 16.94 points to 1,816.95. Turnover advanced to 14.80 billion units valued at RM12.78 billion from 14.05 billion units valued at RM11.28 billion in the preceding week. The Main Market volume improved to 7.21 billion units worth RM11.50 billion against 7.14 billion units worth RM10.06 billion. Warrants turnover expanded to 5.90 billion units worth RM721.75 million against 5.13 billion units worth RM645.54 million a week ago. The ACE Market volume narrowed to 1.66 billion units valued at RM543.90 million from 1.78 billion units valued at RM563.52 million.
New Straits Times
25-05-2025
- Business
- New Straits Times
US tariffs could cost Malaysia up to 4pct of solar panel export value
KUALA LUMPUR: Malaysia could lose up to four per cent of the export value of its solar panels if the United States (US) proceeds with its proposed tariffs on solar panel product imports, according to industry observers. Earlier this week, the media reported that the US International Trade Commission (US ITC) had determined that US domestic solar panel makers were materially harmed or threatened by a flood of cheap solar panel imports from four Southeast Asian nations, namely Malaysia, Thailand, Cambodia and Vietnam. "A 'yes' vote by the three-member US ITC means the Commerce Department will issue orders to enforce countervailing and anti-dumping tariffs on solar products imported from the four countries," the report said. UOB Kay Hian Wealth Advisor head of investment research Mohd Sedek Jantan said that the tariffs could lead to a loss of billions in export revenue, noting that global photovoltaic (PV) trade exceeded US$40 billion (US$1=RM4.23) in 2021. He said, assuming a 30 per cent demand reduction (based on trade elasticity), Malaysia could see a significant decline in export earnings, severely affecting the solar sector. To mitigate the impact, Mohd Sedek suggested that Malaysia adopt a Geoeconomic Hedge Strategy by diversifying its export markets to regions such as Europe, India, and Latin America. This strategy helps countries, companies, and investors manage risks arising from geopolitical and economic instability, particularly in areas such as global trade, supply chains, and investment flows. He pointed out that over-reliance on a single major market, especially one prone to protectionist trade policies, creates significant vulnerability for Malaysian manufacturers. "The solar industry is a major part of the energy sector, which contributes nearly 20 per cent to Malaysia's gross domestic product (GDP). "As such, it is highly advisable for the country to diversify its solar panel export markets beyond the US due to the ongoing high tariffs," he told Bernama recently. Meanwhile, industry player Itramas Corporation Sdn Bhd believes that while the company could be significantly affected by the US tariff hike, the effect could be cushioned by revenue from its renewable energy (RE) projects in Malaysia. "However, we think that Bank Negara Malaysia might potentially lower the interest rates if there are signs of recessionary stresses or shocks. "In this scenario, the ringgit will weaken against the US dollar, which would affect us negatively as our technology components are purchased in the US currency," said managing director Lee Choo Boo. Lee emphasised that it is extremely important that Malaysia move up the value chain and reduce its dependence on imported technologies. "In the RE sector, we must be steadfast and stay the course of local supply chain development and not just focus on constructing power plants based on the purchase of foreign technology components," he added.
Malaysian Reserve
13-05-2025
- Business
- Malaysian Reserve
Bursa Malaysia hits over two-month high on trade optimism
KUALA LUMPUR — Bursa Malaysia extended its upward momentum on Tuesday, soaring 2.32 per cent to a more than two-month high, buoyed by renewed risk-on sentiment as the United States (US) and China took significant steps to de-escalate trade tensions over the weekend. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) surged 2.32 per cent, or 35.89 points, to 1,582.39 from Friday's close of 1,546.50. The market benchmark began the day 14.89 points higher at 1,561.39, its lowest level today, before steadily rising to reach an intraday high of 1,582.55 in the late afternoon session. In the broader market, gainers trounced losers 874 to 323, while 408 counters were unchanged, 778 untraded and eight suspended. Turnover expanded to 4.16 billion units worth RM4.48 billion compared to 2.94 billion units worth RM1.89 billion recorded last Friday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the US and China agreed to substantially scale back tariffs, provide a much-needed boost to investor confidence, with local equities playing catch-up after Bursa Malaysia remained closed on Monday for the Wesak Day holiday. 'The improved trade outlook has reignited optimism across regional markets, positioning Malaysia's benchmark index for potential upside in the near term,' he told Bernama. Furthermore, Mohd Sedek said the encouraging retail data has also helped lift market sentiment, reinforcing the view that domestic demand remains resilient. 'It testifies to the underlying strength of the Malaysian economy, which continues to provide a buffer against external headwinds and helps the market weather periods of global uncertainty. 'The strong figures are supportive of earnings prospects for consumer-related stocks and, when viewed alongside easing global trade tensions, have contributed to the FBM KLCI's sustained upward trajectory today,' he added. Among heavyweights, Maybank added 31 sen to RM10.20, Public Bank gained six sen to RM4.50, both Tenaga Nasional and IHH Healthcare rose four sen to RM14.34 and RM7.05, respectively, while MR DIY fell three sen to RM1.67. For active stocks, MYEG was two sen higher at 92.5 sen, Inari jumped 27 sen to RM2.21, VS Industry climbed 12 sen to 91.5 sen, while Top Glove fell two sen to 84 sen and Sapura Energy was flat at 4.5 sen. On the index board, the FBM Emas Index jumped 276.86 points to 11,796.90, the FBMT 100 Index garnered 274.72 points to 11,560.65, and the FBM Emas Shariah Index increased 238.10 points to 11,713.86. The FBM 70 Index leapt 448.07 points to 16,761.78 and the FBM ACE Index rose 42.13 points to 4,725.08. Across sectors, the Financial Services Index surged 520.63 points to 18,575.92, the Industrial Products and Services Index went up 4.13 points to 158.57, the Energy Index added 27.71 points to 721.15, and the Plantation Index put on 109.30 points to 7,355.73. The Main Market volume swelled to 2.15 billion units valued at RM4.15 billion against Friday's 1.22 billion units valued at RM1.59 billion. Warrants turnover improved to 1.64 billion units worth RM214.76 million from 1.35 billion units worth RM209.38 million previously. The ACE Market volume narrowed to 365.0 million units valued at RM117.50 million compared with 372.11 million units valued at RM100.66 million last Friday. Consumer products and services counters accounted for 244.52 million shares traded on the Main Market, industrial products and services (404.07 million), construction (159.35 million), technology (431.75 million), SPAC (nil), financial services (208.86 million), property (221.51 million), plantation (27.06 million), REITs (12.81 million), closed/fund (185,300), energy (164.34 million), healthcare (107.84 million), telecommunications and media (65.87 million), transportation and logistics (40.85 million), utilities (62.91 million), and business trusts (32,900). — BERNAMA
New Straits Times
13-05-2025
- Business
- New Straits Times
Bursa Malaysia hits over two-month high on trade optimism
KUALA LUMPUR: Bursa Malaysia extended its upward momentum on Tuesday, soaring 2.32 per cent to a more than two-month high, buoyed by renewed risk-on sentiment as the United States (US) and China took significant steps to de-escalate trade tensions over the weekend. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) surged 2.32 per cent, or 35.89 points, to 1,582.39 from Friday's close of 1,546.50. The market benchmark began the day 14.89 points higher at 1,561.39, its lowest level today, before steadily rising to reach an intraday high of 1,582.55 in the late afternoon session. In the broader market, gainers trounced losers 874 to 323, while 408 counters were unchanged, 778 untraded and eight suspended. Turnover expanded to 4.16 billion units worth RM4.48 billion compared to 2.94 billion units worth RM1.89 billion recorded last Friday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the US and China agreed to substantially scale back tariffs, provide a much-needed boost to investor confidence, with local equities playing catch-up after Bursa Malaysia remained closed on Monday for the Wesak Day holiday. "The improved trade outlook has reignited optimism across regional markets, positioning Malaysia's benchmark index for potential upside in the near term," he told Bernama. Furthermore, Mohd Sedek said the encouraging retail data has also helped lift market sentiment, reinforcing the view that domestic demand remains resilient. "It testifies to the underlying strength of the Malaysian economy, which continues to provide a buffer against external headwinds and helps the market weather periods of global uncertainty. "The strong figures are supportive of earnings prospects for consumer-related stocks and, when viewed alongside easing global trade tensions, have contributed to the FBM KLCI's sustained upward trajectory today," he added. Among heavyweights, Maybank added 31 sen to RM10.20, Public Bank gained six sen to RM4.50, both Tenaga Nasional and IHH Healthcare rose four sen to RM14.34 and RM7.05, respectively, while MR DIY fell three sen to RM1.67. For active stocks, MYEG was two sen higher at 92.5 sen, Inari jumped 27 sen to RM2.21, VS Industry climbed 12 sen to 91.5 sen, while Top Glove fell two sen to 84 sen and Sapura Energy was flat at 4.5 sen.
