Latest news with #RM2.04bil
The Star
a day ago
- Business
- The Star
FBM KLCI ends lower despite regional rally; ringgit strengthens on ceasefire boost
KUALA LUMPUR: The FBM KLCI ended lower on Tuesday, bucking regional gains, while the ringgit posted its biggest one-day gain in nearly seven weeks against the US dollar following U.S. President Donald Trump's announcement of a ceasefire between Israel and Iran. At 5pm, the FBM KLCI bucked the regional trends, falling 2.32 points, or 0.15%, to 1,514.29 after moving between its intraday high of 1,519.06 and low of 1,511.09. On the broader market, gainers outnumbered losers 634 to 346 while 458 counters were unchanged. About 2.53 billion shares, valued at RM2.04bil, changed hands. Nestle slid 56 sen to RM75.84, Heineken fell 32 sen to RM25.48, Bintulu Port lost 26 sen to RM5.20 and IHH Healthcare declined 26 sen to RM6.59. Among the gainers, PETRONAS Dagangan jumped 68 sen to RM21.90, Hong Leong Financial Group rose 28 sen to RM16.46, Malaysian Pacific Industries climbed 28 sen to RM20.06 and Aliianz added 20 sen to RM19.08. Cuckoo International, which made its debut on the Main Market of Bursa Malaysia, closed flat at RM1.08 with 42.73 million shares traded. On the forex market, the ringgit strengthened 1.09% to 4.2480 against the US dollar, marking its most in about seven weeks. The local unit, however, weakened 0.56% against the British pound to 5.7779, while edging up 0.16% against the Singapore dollar to 3.3159. Oil prices fell sharply following news of a ceasefire between Iran and Israel. US West Texas Intermediate dropped US$2.28, or 3.33%, to US$66.23, while Brent crude declined US$2.47, or 3.46%, to US$69.01. According to Stephen Innes, managing partner at SPI Asset Management, tensions in the Middle East may still be smouldering, but from the market's perspective, the fire alarm has been turned off. 'Oil prices, once torchbearers of geopolitical panic, are now the poster child for mean reversion. Brent has collapsed more than 15% from its Monday highs, settling back into the low US$70s — and briefly plunging into the US$68 handle — as President Trump's 'complete and total' ceasefire between Israel and Iran capped off what now feels like a geopolitical false start,' he said. Equity markets in Asia reflected the improved sentiment. The MSCI Asia ex-Japan index rose 2.33%. Japan's Nikkei 225 advanced 1.14% to 38,790.56 while South Korea's Kospi closed up 2.96% at 3,103.64. Hong Kong's Hang Seng ended 2.06% higher at 24,177.07. China's CSI300 index added 1.2% to 3,904.03 while the Shanghai Composite Index gained 1.15% to 3,420.57.
The Star
28-05-2025
- Business
- The Star
Last-minute selling pushes FBM KLCI to intraday low
KUALA LUMPUR: Last-minute selling pushed the FBM KLCI lower on Wednesday, after spending the day vacillating between gains and losses. At 5pm, the benchmark index closed down 2.68 points, or 0.18% to 1,523.48, its intraday low. There were 435 gainers against 474 decliners while 499 counters unchanged. About 2.5 billion shares, valued at RM2.04bil, changed hands. Dealers said the spate of lacklustre corporate results has dampened market sentiment, causing more investors to stay on the sidelines. They added that this cautious mood is likely to persist, limiting market momentum. Among the decliners, Nestle fell 50 sen to RM81, Kuala Lumpur Kepong lost 46 sen to RM19.90, Dutch Lady eased 30 sen to RM29 and MBM Resources declined 20 sen to RM5.36. Sunway Construction rose 49 sen to RM5.95, PETRONAS Dagangan added 40 sen to RM20.20, Hong Leong Industries climbed 22 sen to RM14 and Carlsberg gained 20 sen to RM19.50. Among the banks, Maybank declined one sen to RM9.84, CIMB eased three sen to RM6.87, Public Bank fell five sen to RM4.33, RHB Bank lost 18 sen to RM6.67, while Hong Leong Bank rose two sen to RM19.90. According to Bursa Malaysia data, foreign investors continued to sell local equities, disposing of RM170mil on Tuesday, while local institutions and retailers bought equities worth RM120mil and RM50mil, respectively. Meanwhile, the local currency rose 0.17% against the US dollar to 4.2315, gained 0.23% versus the Singapore dollar at 3.2853, and strengthened 0.54% against the pound sterling to 5.7110. Asian bourses closed mixed today, with Japan's Nikkei 225 down 0.004%, South Korea's Kospi up 1.25%, Hong Kong's Hang Seng down 0.53%, and China's CSI 300 Index falling 0.08%.
