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The Star
7 hours ago
- Business
- The Star
Bursa Malaysia rebounds to close higher on bargain hunting
KUALA LUMPUR: Bursa Malaysia picked up momentum in the final hour of trading to close marginally higher, driven by bargain-hunting in energy and telecommunication stocks during the late session, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.72 points, 0.31 per cent, to its intraday high of 1,507.97 from Tuesday's close of 1,503.25. The index thus ended its six-day losing streak to end in the positive territory. The benchmark index opened 3.85 points higher at 1,507.10 and thereafter slipped to a low of 1,501.11 in the early trade, experienced choppy trading in the afternoon session before trending upwards towards closing. Market breadth was, however, slightly negative as decliners outpaced gainers 494 to 442, while 450 counters were unchanged, 953 untraded and 18 suspended. Turnover slid to 2.40 billion units worth RM2.03 billion compared with Tuesday's 3.04 billion units valued at RM2.20 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market mirrored the upbeat key regional bourses on speculation that the United States (US) and Chinese leaders may reconnect this week to restart trade negotiations. White House officials said President Donald Trump would speak with his Chinese counterpart Xi Jinping this week. As for the local bourse, he said lingering concerns over trade tensions and their impact on the global economy were causing investors to remain cautious. "We are hopeful that the negotiations between the US and China will ease tensions and boost sentiment among local investors. "For the moment, we maintain our weekly FBM KLCI target at between 1,490 and 1,520 pending the emergence of fresh catalysts,' Thong told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said sentiment remained cautious following the Organisation for Economic Cooperation and Development's (OECD) latest report, which downgraded its 2025 US gross domestic product (GDP) growth forecast from 2.2 per cent to 1.6 per cent, citing policy uncertainty and the adverse impact of Trump's renewed tariff measures. This includes a proclamation doubling US tariffs on steel and aluminium to 50 per cent, effective immediately, adding fresh pressure on global markets. Mohd Sedek said that despite the modest rebound in the benchmark index, broader market sentiment remained cautious. "Trading activity was subdued, with total volume easing to 2.4 billion shares, down from 3.0 billion the previous day, signalling continued investor caution amid persistent global and domestic headwinds,' he said. On the local bourse, heavyweights Petronas Dagangan jumped 96 sen to RM20.96, YTL Corporation perked up 8.0 sen to RM1.88, and CelcomDigi rose 14 sen to RM3.92. YTL Power International and Maxis added 9.0 sen each to RM3.29 and RM3.65, respectively. As for active stocks, TWL added half-a-sen to 2.5 sen, Tanco eased 1.5 sen to 98.5 sen, Gamuda garnered 7.0 sen to RM4.66, NationGate slid 3.0 sen to RM1.43, and XOX Networks slipped half-a-sen to 1.0 sen. On the index board, the FBM Emas Index gained 28.62 points to 11,283.07, the FBMT 100 Index increased 30.22 points to 11,052.94, while the FBM ACE Index decreased 2.16 points to 4,479.65. The FBM Emas Shariah Index advanced 31.50 points to 11,241.65 and the FBM 70 Index added 26.83 points to 16,168.99. Sector-wise, the Financial Services Index erased 4.78 points to 17,757.85, the Plantation Index declined 15.21 points to 7,203.67, while the Industrial Products and Services Index edged up 0.02 of-a-point to 150.10 and the Energy Index climbed 3.50 points to 702.46. The Main Market volume narrowed to 1.15 billion units valued at RM1.83 billion against Tuesday's 1.21 billion units worth RM1.90 billion. Warrants turnover dwindled to 967.10 million units worth RM118.58 million from 1.50 billion units valued at RM201.92 million yesterday. The ACE Market volume slid to 288.86 million shares valued at RM78.35 million versus 323.10 million shares worth RM94.99 million previously. Consumer products and services counters accounted for 193.98 million shares traded on the Main Market, industrial products and services (191.61 million), construction (104.48 million), technology (129.41 million), SPAC (nil), financial services (86.14 million), property (187.72 million), plantation (216.54 million), REITs (15.21 million), closed/fund (nil), energy (75.41 million), healthcare (54.76 million), telecommunications and media (45.06 million), transportation and logistics (15.81 million), utilities (34.15 million), and business trusts (600). - Bernama
Malaysian Reserve
7 hours ago
- Business
- Malaysian Reserve
Bursa Malaysia rebounds to close higher on bargain hunting
KUALA LUMPUR — Bursa Malaysia picked up momentum in the final hour of trading to close marginally higher, driven by bargain-hunting in energy and telecommunication stocks during the late session, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.72 points, 0.31 per cent, to its intraday high of 1,507.97 from Tuesday's close of 1,503.25. The index thus ended its six-day losing streak to end in the positive territory. The benchmark index opened 3.85 points higher at 1,507.10 and thereafter slipped to a low of 1,501.11 in the early trade, experienced choppy trading in the afternoon session before trending upwards towards closing. Market breadth was, however, slightly negative as decliners outpaced gainers 494 to 442, while 450 counters were unchanged, 953 untraded and 18 suspended. Turnover slid to 2.40 billion units worth RM2.03 billion compared with Tuesday's 3.04 billion units valued at RM2.20 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market mirrored the upbeat key regional bourses on speculation that the United States (US) and Chinese leaders may reconnect this week to restart trade negotiations. White House officials said President Donald Trump would speak with his Chinese counterpart Xi Jinping this week. As for the local bourse, he said lingering concerns over trade tensions and their impact on the global economy were causing investors to remain cautious. 'We are hopeful that the negotiations between the US and China will ease tensions and boost sentiment among local investors. 'For the moment, we maintain our weekly FBM KLCI target at between 1,490 and 1,520 pending the emergence of fresh catalysts,' Thong told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said sentiment remained cautious following the Organisation for Economic Cooperation and Development's (OECD) latest report, which downgraded its 2025 US gross domestic product (GDP) growth forecast from 2.2 per cent to 1.6 per cent, citing policy uncertainty and the adverse impact of Trump's renewed tariff measures. This includes a proclamation doubling US tariffs on steel and aluminium to 50 per cent, effective immediately, adding fresh pressure on global markets. Mohd Sedek said that despite the modest rebound in the benchmark index, broader market sentiment remained cautious. 'Trading activity was subdued, with total volume easing to 2.4 billion shares, down from 3.0 billion the previous day, signalling continued investor caution amid persistent global and domestic headwinds,' he said. On the local bourse, heavyweights Petronas Dagangan jumped 96 sen to RM20.96, YTL Corporation perked up 8.0 sen to RM1.88, and CelcomDigi rose 14 sen to RM3.92. YTL Power International and Maxis added 9.0 sen each to RM3.29 and RM3.65, respectively. As for active stocks, TWL added half-a-sen to 2.5 sen, Tanco eased 1.5 sen to 98.5 sen, Gamuda garnered 7.0 sen to RM4.66, NationGate slid 3.0 sen to RM1.43, and XOX Networks slipped half-a-sen to 1.0 sen. On the index board, the FBM Emas Index gained 28.62 points to 11,283.07, the FBMT 100 Index increased 30.22 points to 11,052.94, while the FBM ACE Index decreased 2.16 points to 4,479.65. The FBM Emas Shariah Index advanced 31.50 points to 11,241.65 and the FBM 70 Index added 26.83 points to 16,168.99. Sector-wise, the Financial Services Index erased 4.78 points to 17,757.85, the Plantation Index declined 15.21 points to 7,203.67, while the Industrial Products and Services Index edged up 0.02 of-a-point to 150.10 and the Energy Index climbed 3.50 points to 702.46. The Main Market volume narrowed to 1.15 billion units valued at RM1.83 billion against Tuesday's 1.21 billion units worth RM1.90 billion. Warrants turnover dwindled to 967.10 million units worth RM118.58 million from 1.50 billion units valued at RM201.92 million yesterday. The ACE Market volume slid to 288.86 million shares valued at RM78.35 million versus 323.10 million shares worth RM94.99 million previously. Consumer products and services counters accounted for 193.98 million shares traded on the Main Market, industrial products and services (191.61 million), construction (104.48 million), technology (129.41 million), SPAC (nil), financial services (86.14 million), property (187.72 million), plantation (216.54 million), REITs (15.21 million), closed/fund (nil), energy (75.41 million), healthcare (54.76 million), telecommunications and media (45.06 million), transportation and logistics (15.81 million), utilities (34.15 million), and business trusts (600). — BERNAMA
New Straits Times
8 hours ago
- Business
- New Straits Times
Bursa Malaysia rebounds to close higher on bargain hunting
KUALA LUMPUR: Bursa Malaysia picked up momentum in the final hour of trading to close marginally higher, driven by bargain-hunting in energy and telecommunication stocks during the late session, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.72 points, 0.31 per cent, to its intraday high of 1,507.97 from Tuesday's close of 1,503.25. The index thus ended its six-day losing streak to end in the positive territory. The benchmark index opened 3.85 points higher at 1,507.10 and thereafter slipped to a low of 1,501.11 in the early trade, experienced choppy trading in the afternoon session before trending upwards towards closing. Market breadth was, however, slightly negative as decliners outpaced gainers 494 to 442, while 450 counters were unchanged, 953 untraded and 18 suspended. Turnover slid to 2.40 billion units worth RM2.03 billion compared with Tuesday's 3.04 billion units valued at RM2.20 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market mirrored the upbeat key regional bourses on speculation that the United States (US) and Chinese leaders may reconnect this week to restart trade negotiations. White House officials said President Donald Trump would speak with his Chinese counterpart Xi Jinping this week. As for the local bourse, he said lingering concerns over trade tensions and their impact on the global economy were causing investors to remain cautious. "We are hopeful that the negotiations between the US and China will ease tensions and boost sentiment among local investors. "For the moment, we maintain our weekly FBM KLCI target at between 1,490 and 1,520 pending the emergence of fresh catalysts," Thong told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said sentiment remained cautious following the Organisation for Economic Cooperation and Development's (OECD) latest report, which downgraded its 2025 US gross domestic product (GDP) growth forecast from 2.2 per cent to 1.6 per cent, citing policy uncertainty and the adverse impact of Trump's renewed tariff measures. This includes a proclamation doubling US tariffs on steel and aluminium to 50 per cent, effective immediately, adding fresh pressure on global markets. Mohd Sedek said that despite the modest rebound in the benchmark index, broader market sentiment remained cautious. "Trading activity was subdued, with total volume easing to 2.4 billion shares, down from 3.0 billion the previous day, signalling continued investor caution amid persistent global and domestic headwinds," he said. On the local bourse, heavyweights Petronas Dagangan jumped 96 sen to RM20.96, YTL Corporation perked up 8.0 sen to RM1.88, and CelcomDigi rose 14 sen to RM3.92. YTL Power International and Maxis added 9.0 sen each to RM3.29 and RM3.65, respectively. As for active stocks, TWL added half-a-sen to 2.5 sen, Tanco eased 1.5 sen to 98.5 sen, Gamuda garnered 7.0 sen to RM4.66, NationGate slid 3.0 sen to RM1.43, and XOX Networks slipped half-a-sen to 1.0 sen.
Malaysian Reserve
6 days ago
- Business
- Malaysian Reserve
Bursa Malaysia bucks regional trend to end lower, sans fresh local leads
KUALA LUMPUR — 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. Mohd Sedek said the uplift in regional equities was underpinned by a US federal court's decision to block President Donald Trump's proposed 'Liberation Day' tariffs, which materially improved global risk appetite. However, domestic sentiment remained subdued, weighed down by profit-taking in heavyweight banking counters. 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
Barnama
28-05-2025
- 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.
