Latest news with #MohdSedekJantan
New Straits Times
19 hours ago
- Business
- New Straits Times
Bursa Malaysia down 0.7pct amid persistent macroeconomic, political uncertainties
KUALA LUMPUR: Bursa Malaysia closed lower on Friday, as the local benchmark was unable to hold onto its early gains pressured by ongoing foreign fund outflows and persistent macroeconomic and political uncertainties. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 0.70 per cent, losing 10.63 points to 1,508.35 compared to its last close price of 1,518.98. The benchmark index started the day 2.24 points higher at 1,521.22 and reached an early peak of 1,522.06 before losing momentum and closing at its lowest point of the day. In the broader market, declining stocks outweighed advancing ones, with 616 losers compared to 336 gainers, while 417 counters remained unchanged. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the index had erased its earlier momentum, sending the one-month return to -2.0 per cent and hovering just above the key psychological threshold of 1,500. "The decline was broad-based, although selected banking and consumer stocks among the FBM KLCI constituents managed to stage modest rebounds following yesterday's drop. "However, the rebound was uneven and lacked the depth needed to anchor broader market stability," he adds. Sedek said he expects the FBMKLCI to trade in a narrow range in the absence of a clear catalyst. "Should the index fall below the 1,500 level, bargain hunting may emerge, especially in undervalued large-cap names. However, market sentiment is likely to remain cautious," he said.
Malay Mail
2 days ago
- Business
- Malay Mail
Bursa ends lower on banking drag, bucks regional trend despite higher trading volume
KUALA LUMPUR, May 29 — Bursa Malaysia bucked the regional trend to settle lower on Thursday, as selling pressure in selected banking heavyweights dampened sentiment, in the absence of fresh domestic catalysts coupled with an unexciting batch of corporate earnings releases, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 4.50 points, or 0.29 per cent, to 1,518.98 from Wednesday's close of 1,523.48. The benchmark index opened 2.12 points higher at 1,525.60 and fluctuated between 1,518.38 and 1,526.94 throughout the day. In the broader market, decliners beat gainers 478 to 466, while 460 counters were unchanged, 982 untraded and 110 suspended. Turnover expanded to 3.30 billion units worth RM2.22 billion compared with Wednesday's 2.50 billion units worth RM2.03 billion. Apex Securities Bhd head of research Kenneth Leong expects that the key index may attempt to find stability above the 1,500 level on the back of potential bargain hunting, going forward. 'Still, we believe that any potential gains could be capped by the resumption of foreign funds outflow. 'Looking ahead, investors will be keeping a close watch on the second reading of the US first-quarter 2025 gross domestic product data to be released later tonight,' he told Bernama. Domestically, Leong said the key focus remains on the ongoing corporate earnings releases. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the release of the latest US Federal Reserve (Fed) minutes proved pivotal. 'The Fed's reaffirmation of its cautious stance—highlighting persistent inflationary pressures and resilient US macroeconomic data—has effectively tempered market expectations for a near-term rate cut.' 'This recalibration in rate outlook translated into upward pressure on global yields, a dynamic to which Malaysia's banking-heavy benchmark index remains acutely sensitive,' he told Bernama. Among heavyweights, Maybank gained three sen to RM9.87 and CIMB increased one sen to RM6.88. Public Bank and Tenaga Nasional fell two sen each to RM4.31 and RM14.08 respectively, while IHH Healthcare was flat at RM6.91. As for active stocks, Permaju inched down half-a-sen to one sen and Nationgate dropped 14 sen to RM1.44, while Velesto and NexG added one sen each to 18.5 sen and 37.5 sen respectively. MYEG was flat at 89 sen. On the index board, the FBM Emas Index slid 14.84 points to 11,382.33, the FBM ACE Index rose 42.82 points to 4,592.16, but the FBMT 100 Index fell 19.34 points to 11,142.02. The FBM Emas Shariah Index lost 9.68 points to 11,365.83 while the FBM 70 Index perked up 25.65 points to 16,332.31. By sector, the Financial Services Index slipped 64.33 points to 17,893.57, the Industrial Products and Services Index edged up 0.32 of-a-point to 153.02, the Energy Index put on 1.67 points to 708.18, while the Plantation Index added 1.40 points to 7,293.95. The Main Market volume improved to 1.56 billion units valued at RM1.93 billion against Wednesday's 1.34 billion units valued at RM1.80 billion. Warrants turnover swelled to 1.37 billion units worth RM164.04 million from 815.91 million units worth RM113.60 million previously. The ACE Market volume advanced to 364.60 million shares worth RM120.88 million from 346.43 million shares worth RM119.44 million yesterday. Consumer products and services counters accounted for 354.51 million shares traded on the Main Market, industrial products and services (317.02 million), construction (98.30 million), technology (235.43 million), SPAC (nil), financial services (70.33 million), property (170.33 million), plantation (14.93 million), REITs (88.90 million), closed/fund (2,700), energy (150.03 million), healthcare (36.24 million), telecommunications and media (56.54 million), transportation and logistics (15.65 million), utilities (34.86 million), and business trusts (23,400). — Bernama
New Straits Times
3 days ago
- Business
- New Straits Times
Bursa Malaysia down ahead of key US data releases
KUALA LUMPUR: Bursa Malaysia ended lower today, pressured by selling activity amid cautious market sentiment as investors await key US economic data releases later this week. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.68 points or 0.18 per cent to 1,523.48 from Tuesday's close of 1,526.16. The benchmark index opened 3.98 points higher at 1,530.14 and fluctuated between 1,523.48 and 1,532.80 throughout the day. In the broader market, decliners outpaced gainers 474 to 435, with 499 counters unchanged, 938 untraded and 50 suspended. Turnover declined to 2.51 billion units worth RM2.04 billion compared with Tuesday's 2.66 billion units worth RM1.85 billion. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI closed lower today, failing to sustain an early recovery attempt, in contrast to Wall Street's overnight rally. He said persistent selling pressure weighed on the index, reflecting cautious market sentiment as investors await pivotal US economic data releases later this week. They are the Consumer Price Index and retail sales figures, which will provide critical insights into the trajectory of global economic growth. "Nvidia's quarterly earnings report, due tonight, remains a focal point, given its role as a bellwether for the tech sector and broader market confidence," he said. Sedek said foreign investors intensified their net selling on Bursa on Tuesday, extending last week's outflows. This sustained selling underscores heightened caution among global funds amid uncertainties surrounding US monetary policy and elevated regional market valuations.
Malay Mail
4 days ago
- Business
- Malay Mail
Bursa Malaysia slips as profit-taking in financial counters weighs on market
KUALA LUMPUR, May 27 — Bursa Malaysia ended lower as profit-taking in financial services counters weighed on the market, amid cautious sentiment across the regional market. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 8.14 points, or 0.53 per cent, to 1,526.16 from Monday's close of 1,534.30. The benchmark index opened 0.94 of-a-point higher at 1,535.24, and fluctuate between 1,521.93 and 1,535.41 throughout the day. In the broader market, decliners outpaced gainers 575 to 338, with 474 counters unchanged, 1,008 untraded and 17 suspended. Turnover declined to 2.65 billion units worth RM1.85 billion compared with Monday's 3.12 billion units worth RM1.63 billion. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI extended its downtrend, weighed by continued foreign fund outflows for a sixth straight session, as investors remained risk-averse amid unresolved global trade tensions. This came despite comments earlier today from Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, who suggested the United States may revise its proposed tariffs on Malaysian exports to a lower baseline of 10 per cent-a notable development that nevertheless failed to significantly lift market sentiment, he told Bernama. 'The market retained a defensive posture, as uncertainties surrounding trade tariffs continue to cloud outlook. 'This caution persisted despite constructive signals from European markets and limited cues from Wall Street, where investors were processing Trump's decision to defer the implementation of 50 per cent tariffs on European Union (EU) goods from June 1 to July 9,' he added. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key Asian markets ended mostly lower as investors are cautiously awaiting the latest developments on Trump's trade war. 'Market participants are growing uneasy as Trump's unpredictable policy announcements and proposed tax cut extensions undermine confidence in the US economy and drive US Treasury yields higher. 'On the domestic front, Malaysian equities remain attractive, supported by undervaluation, stronger corporate earnings, and an improving economic backdrop,' he added. Nevertheless, the FBM KLCI is likely to stay in a consolidation phase in the near term, as cautious sentiment prevails amid rising global uncertainties, said Thong. 'We expect the index to trade within the 1,520-1,550 range this week,' he said. Among heavyweight counters, Maybank shed seven sen to RM9.85, Public Bank dropped three sen to RM4.38, CIMB lost six sen to RM6.90, and IHH Healthcare erased one sen to RM6.90, while Tenaga Nasional was flat at RM14. As for active stocks, Permaju dropped one sen to two sen, Sinaran Advance plunged seven sen to three sen, SFP Tech fell 1.5 sen to 20.5 sen, Velesto eased half-a-sen to 16.5 sen, while Tanco put on one sen to RM1.01. On the index board, the FBM Emas Index lost 58.63 points to 11,397.06, the FBMT 100 Index dipped 58.34 points to 11,160.37, and the FBM ACE Index slid 24.47 points to 4,573.60. The FBM Emas Shariah Index dropped 35.86 points to 11,354.12 and the FBM 70 Index shrank 80.05 points to 16,223.31. Across the sectors, the Financial Services Index tumbled 122.40 points to 18,048.68, the Industrial Products and Services Index inched down 0.30 of a point to 153.44, the Energy Index eased 7.25 points to 698.66, while the Plantation Index gained 41.27 points to 7,376.64. The Main Market volume narrowed to 1.19 billion units valued at RM1.60 billion against Monday's 1.23 billion units valued at RM1.34 billion. Warrants turnover slipped to 1.10 billion units worth RM134.59 million from 1.60 billion units worth RM198.00 million previously. The ACE Market volume expanded to 351.78 million shares worth RM109.53 million from 278.81 million shares worth RM86.35 million yesterday. Consumer products and services counters accounted for 287.32 million shares traded on the Main Market, industrial products and services (199.70 million), construction (180.42 million), technology (126.96 million), SPAC (nil), financial services (81.79 million), property (124.88 million), plantation (21.99 million), REITs (17.89 million), closed/fund (nil), energy (116.49 million), healthcare (38.17 million), telecommunications and media (44.55 million), transportation and logistics (16.94 million), utilities (41.41 million), and business trusts (20,000). — Bernama
New Straits Times
4 days ago
- Business
- New Straits Times
Bursa Malaysia ends lower on profit-taking in financial counters
KUALA LUMPUR: Bursa Malaysia ended lower as profit-taking in financial services counters weighed on the market, amid cautious sentiment across the regional market. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 8.14 points, or 0.53 per cent, to 1,526.16 from Monday's close of 1,534.30. The benchmark index opened 0.94 of-a-point higher at 1,535.24, and fluctuate between 1,521.93 and 1,535.41 throughout the day. In the broader market, decliners outpaced gainers 575 to 338, with 474 counters unchanged, 1,008 untraded and 17 suspended. Turnover declined to 2.65 billion units worth RM1.85 billion compared with Monday's 3.12 billion units worth RM1.63 billion. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI extended its downtrend, weighed by continued foreign fund outflows for a sixth straight session, as investors remained risk-averse amid unresolved global trade tensions. This came despite comments earlier today from Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, who suggested the United States may revise its proposed tariffs on Malaysian exports to a lower baseline of 10 per cent—a notable development that nevertheless failed to significantly lift market sentiment, he told Bernama. "The market retained a defensive posture, as uncertainties surrounding trade tariffs continue to cloud outlook. "This caution persisted despite constructive signals from European markets and limited cues from Wall Street, where investors were processing Trump's decision to defer the implementation of 50 per cent tariffs on European Union (EU) goods from June 1 to July 9," he added. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key Asian markets ended mostly lower as investors are cautiously awaiting the latest developments on Trump's trade war. "Market participants are growing uneasy as Trump's unpredictable policy announcements and proposed tax cut extensions undermine confidence in the US economy and drive US Treasury yields higher. "On the domestic front, Malaysian equities remain attractive, supported by undervaluation, stronger corporate earnings, and an improving economic backdrop," he added. Nevertheless, the FBM KLCI is likely to stay in a consolidation phase in the near term, as cautious sentiment prevails amid rising global uncertainties, said Thong. "We expect the index to trade within the 1,520–1,550 range this week," he said. Among heavyweight counters, Maybank shed seven sen to RM9.85, Public Bank dropped three sen to RM4.38, CIMB lost six sen to RM6.90, and IHH Healthcare erased one sen to RM6.90, while Tenaga Nasional was flat at RM14. As for active stocks, Permaju dropped one sen to two sen, Sinaran Advance plunged seven sen to three sen, SFP Tech fell 1.5 sen to 20.5 sen, Velesto eased half-a-sen to 16.5 sen, while Tanco put on one sen to RM1.01.
