Latest news with #NurunnasihahAhmadRashid
Barnama
an hour ago
- Business
- Barnama
Bursa Malaysia Likely To See Volatile Trading Next Week Pending Key Market Developments
By Nurunnasihah Ahmad Rashid KUALA LUMPUR, May 31 (Bernama) -- 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.
Barnama
6 days ago
- Business
- Barnama
Bursa Malaysia Erases Earlier Gains To End Lower
By Nurunnasihah Ahmad Rashid KUALA LUMPUR, May 28 (Bernama) -- Bursa Malaysia failed to sustain earlier gains recorded for most part of the day to end lower on late selling, amid a mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 2.68 points 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 subsequently hit the day's high of 1,532.90 in early trade before losing its steady momentum to close at its intraday low. In the broader market, decliners beat gainers 474 to 435, with 499 counters unchanged, 988 untraded and 50 suspended. Turnover declined to 2.50 billion units worth RM2.03 billion compared with Tuesday's 2.65 billion units worth RM1.85 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said strong selling in Sime Darby Bhd, following its lower-than-expected quarterly earnings, also dragged the FBM KLCI into negative territory by the end of the day. Sime Darby reported a significantly lower net profit of RM193.0 million in the third quarter ended March 31, 2025 (3Q 2025) cmpared with RM340.0 million in 3Q 2024, mainly due to lower profit from all core divisions. Its revenue also slipped to RM16.31 billion from RM18.84 billion year-on-year. Thong said equity markets in the region were mostly weaker ahead of Nvidia's earnings release later today, which is expected to offer key insights into the technology sector's trajectory.
Barnama
26-05-2025
- Business
- Barnama
Bursa Malaysia Closes Flat With Key Index Slightly Down
By Nurunnasihah Ahmad Rashid KUALA LUMPUR, May 26 (Bernama) -- Bursa Malaysia closed flat on Monday with the key index down slightly, weighed by selling in telecommunication counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.08 points, or 0.07 per cent, to 1,534.30 from Friday's close of 1,535.38. The benchmark index opened 0.95 of a point higher at 1,536.33, and fluctuated between 1,528.93 and 1,537.27 throughout the day. In the broader market, decliners thumped gainers 595 to 338, with 478 counters unchanged, 1,019 untraded and 42 suspended. Turnover improved to 3.12 billion units worth RM1.63 billion compared with Friday's 2.72 billion units worth RM2.17 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI trimmed earlier losses on the back of late buying interest, especially in banking counters. 'Markets across the region saw mixed results following US President Donald Trump's tariff rhetoric over the weekend, where he first threatened and later walked back on plans for increased European tariffs. Meanwhile, technology stocks came under selling pressure after Trump floated a 25 per cent tariff on iPhones and other smartphone imports,' he told Bernama. Thong said the benchmark index of the local bourse remains range-bound amid a lack of catalysts.
Barnama
26-05-2025
- Business
- Barnama
Bursa Malaysia Opens Marginally Higher But Retreats Thereafter
By Nurunnasihah Ahmad Rashid KUALA LUMPUR, May 26 (Bernama) -- Bursa Malaysia opened marginally higher but retreated thereafter, weighed down by mild profit-taking in selected heavyweights as Wall Street slipped following the latest US tariff threats against the European Union (EU), analysts said. At 9.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.93 points or 0.12 per cent to 1,533.45 from Friday's close of 1,535.38. The benchmark index opened 0.95 of-a-point higher at 1,536.33. Market breadth was negative with 227 decliners and 122 gainers, while 329 counters were unchanged, 1,752 untraded and 42 suspended. Turnover stood at 237.79 million shares valued at RM97.58 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said sentiment was once again unsettled by the ongoing 'de-escalation' and 're-escalation' of trade tensions, following the tariff threats against the EU, including a proposed 50 per cent tariff on all imports from the EU, and 25 per cent on i-Phones not made in the US. 'On the local market, we suspect that foreign funds may return as buyers after several days of selling. 'For today, we expect the index to trend cautiously within the 1,525-1,540 range,' he told Bernama.
Barnama
17-05-2025
- Business
- Barnama
Economic Resilience Bolsters US Investor Confidence In Malaysia -- AMCHAM
REGION - CENTRAL > NEWS By Nurunnasihah Ahmad Rashid KUALA LUMPUR, May 17 (Bernama) -- Malaysia's economic growth of 4.4 per cent in the first quarter of 2025 (1Q 2025) is a positive indicator of resilience and broadly reflects the stable business environment experienced by members of the American Malaysian Chamber of Commerce (AMCHAM). bootstrap slideshow In a statement to Bernama, AMCHAM chief executive officer Datuk Siobhan Das said the US business community continues to view Malaysia as a strategic hub in the region, and this momentum reinforces a positive investment outlook. She highlighted that the strong bilateral ties between Malaysia and the United States — built over more than five decades — remain vital, and the association anticipates continued US investment in Malaysia. 'We also anticipate Malaysian corporate investment into the US to grow on the back of the strong gross domestic product (GDP) numbers,' she added. Das noted that while GDP performance is one of many yardsticks used by US multinationals, their investment outlook is largely influenced by the ease of day-to-day operations. 'What drives operational and growth decisions for US multinationals is the day-to-day experience, ensuring their business activities are not hampered by administrative bureaucracy and outdated, frequently changing rules and regulations. 'Although economic indicators remain relevant, long-term American investments also depend on Malaysia's competitiveness within global value chains,' she said.
