Latest news with #RM19.62
The Star
29-05-2025
- Business
- The Star
Bank counters weigh on FBM KLCI after recent earnings reports
KUALA LUMPUR: The local stock index drifted lower in the early session as investors sold down financial heavyweights following their recent earnings announcements. The FBM KLCI was down 1.29 points to 1,525.60 at the midday break, as the domestic market shrugged off a global rally sparked by a US trade court's decision to block US President Donald Trump's tariffs on trading partners. On the broader market, the number of declining issues piped advancers 430 to 400 after 2.16 billion shares changed hands for RM1.06bil. Hong Leong Bank weighed on the market as traders sold down its shares by 28 sen to RM19.62 on the back of its earnings report yesterday. Sector peer RHB, which also released its earnings yesterday, fell 14 sen to RM6.53. Other laggards included Telekom down 30 sen to RM6.55, Guan Chong sliding 18 sen to RM3.25 and Sunway Construction dropping 12 sen to RM5.83. Key Asian markets maintained a rally on news of a potential reprieve in US tariffs imposed on the rest of the world. Japan's Nikkei rose 1.53% to 38,297 while China's blue-chip CSI 300 gained 0.68% to 3,862 and Shanghai's composite index rallied 0.72% to 3,363. Hong Kong's Hang Seng climbed 0.65% to 23,408.
The Star
28-05-2025
- Business
- The Star
Bursa Malaysia makes cautious rebound on the heels of Wall Street rally
KUALA LUMPUR: A mild midweek bounce on the Malaysian stock market lacked the momentum to break out of the sideways trading pattern, even as Corporate Malaysia headed into the final days of its results season. Stirred by an overnight rally on Wall Street, the FBM KLCI rose 3.98 points to 1,530.14 at Wednesday's open, replacing about half of the losses from the previous session. As expected, the boost of optimism over the delay of Trump's tariffs on EU imports shored up Wall Street prices, which is helping to cushion a lacklustre local market. However, TA Securities Research warned that "the undertone remains cautious as investors await key US economic data later this week to gauge the health of the world's largest economy". "Immediate resistance is revised lower to 1,564 with next upside hurdles seen at the recent high of 1,586, followed by 1,610 ahead. "Immediate index support is also adjusted lower to 1,490, while stronger supports can be found at 1,465 and 1,444," it said in its technical outlook. On the FBM KLCI, MISC jumped 19 sen to RM7.65 and Tenaga Nasional climbed 14 sen to RM14.14. These helped to offset index losses from Kuala Lumpur Kepong dropping 32 sen to RM20.04 and PETRONAS Dagangan shedding 18 sen to RM19.62. On the broader market, Velesto topped the actives list, rising one sen to 17.5 sen with 16.66 million shares done. It outperformed new ACE Market debutant Oasis Home, which was trading flat at 28 sen.
