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The Star
2 days 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
2 days 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
2 days 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.
The Star
3 days ago
- Business
- The Star
Bursa Malaysia erases early gains to end lower
KUALA LUMPUR: Bursa Malaysia erased early gains to close lower for the sixth consecutive day today, weighed down by selling pressure in regional emerging markets due to concerns over the ongoing US tariff conflict, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 5.10 points, 0.33 per cent, to 1,503.25 from last Friday's close of 1,508.35. The benchmark index opened 4.37 points higher at 1,512.72 and moved between 1,497.42 and 1,514.12 throughout the trading session. Market breadth was negative with decliners thumping gainers 705 to 297, while 423 counters were unchanged, 921 untraded and 15 suspended. Turnover fell to 3.04 billion units valued at RM2.20 billion compared with last Friday's 3.21 billion units worth RM5.04 billion. Bursa Malaysia was closed on Monday in conjunction with the official birthday of His Majesty, Sultan Ibrahim, King of Malaysia. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices closed mixed amid uncertainties surrounding US President Donald Trump's tariff war, prompting cautious investor behaviour. European equities slipped at the open due to weak sentiment and in anticipation of upcoming eurozone inflation figures. In contrast, markets in China and Hong Kong rallied on hopes of renewed US-China trade talks. On the domestic front, market sentiment remains subdued as investors adopt a wait-and-see stance amid ongoing foreign selling and escalating global trade uncertainties involving the US. The benchmark index is currently near its psychological 1,500 support level. "Despite these challenges, we view this as an opportunity to pick up blue-chip stocks at lower prices due to their strong fundamentals, attractive valuations, and appealing dividend yields. "As such, we anticipate the FBM KLCI to trend within the 1,490-1,520 range for the week,' Thong told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said market caution has intensified amid growing fears of a tariff-driven global slowdown and weakening external demand. Although the US has extended a pause on tariffs for certain Chinese goods until August 31, tensions have flared after Beijing rejected US accusations of breaching the existing tariff truce, instead blaming Washington for backtracking. "A potential call between Trump and Chinese President Xi Jinping this week may offer much-needed clarity on the future direction of trade relations,' he said. Locally, Malaysia's manufacturing Purchasing Managers' Index edged up to 48.8 in May from April, but remained below the 50-point threshold, signalling continued contraction. "Weak new orders and declining output reflect persistent demand weakness. As a trade-reliant economy, Malaysia remains vulnerable to global trade disruptions, with export-oriented sectors, particularly industrial products, technology, and small-cap stocks, most exposed to downside risks,' Mohd Sedek added. Among the heavyweights, Petronas Chemicals dipped 14.0 sen to RM3.28, QL Resources fell 10 sen to RM4.40, IHH Healthcare eased 15 sen to RM6.75, Press Metal dropped 9.0 sen to RM4.95, and Hong Leong Financial Group lost 28 sen to RM16.30. Among active stocks, Permaju Industries eased half-a-sen to 1.0 sen, ACE Market debutant ICT Zone Asia, Tanco, and Harvest Miracle Capital were flat each at 20 sen, RM1.00 and 18 sen respectively, and MYEG slipped 3.0 sen to 89 sen. On the index board, the FBM Emas Index trimmed 45.35 points to 11,254.45, the FBMT 100 Index lost 38.28 points to 11,022.72, and the FBM ACE Index sank 69.22 points to 4,481.81. The FBM Emas Shariah Index decreased 46.10 points to 11,210.15, while the FBM 70 Index retreated 59.35 points to 16,142.16. Sector-wise, the Financial Services Index slid 77.90 points to 17,762.63, the Industrial Products and Services Index shed 2.57 points to 150.08, and the Energy Index fell 9.08 points to 698.96, but the Plantation Index increased 11.03 points to 7,218.88. The Main Market volume declined to 1.21 billion units worth RM1.90 billion against Friday's 1.88 billion units valued at RM4.82 billion. Warrants turnover expanded to 1.50 billion units valued at RM201.92 million from 1.00 billion units worth RM111.49 million previously. The ACE Market volume advanced to 323.10 million shares worth RM94.99 million versus 318.43 million shares worth RM107.68 million on Friday. Consumer products and services counters accounted for 270.72 million shares traded on the Main Market, industrial products and services (184.66 million), construction (76.45 million), technology (139.98 million), SPAC (nil), financial services (85.81 million), property (164.11 million), plantation (29.49 million), REITs (11.64 million), closed/fund (3,400), energy (106.55 million), healthcare (57.20 million), telecommunications and media (43.34 million), transportation and logistics (18.57 million), utilities (31.21 million), and business trusts (20,700). - Bernama
Malaysian Reserve
29-05-2025
- Business
- Malaysian Reserve
Leong Hup 1Q profit soars 80% to RM101.8m; declares 1 sen dividend
LEONG Hup International Bhd (LHI) saw a 79.92% jump in net profit to RM101.80 million for the first quarter ended March 31, 2025 (1Q25), driven by higher average selling prices and lower operating costs, with strong contributions from Malaysia, Vietnam, and the Philippines. The group declared a first interim dividend of one sen per share, payable on July 1. Despite the profit surge, quarterly revenue declined 8.30% year-on-year to RM2.21 billion, weighed down by weaker performance in Malaysia and Singapore. While the Philippines saw higher revenue from increased chicken prices and volumes, it was not enough to offset lower egg prices in Malaysia and reduced fresh chicken and duck sales in Singapore. Looking ahead, Leong Hup expects margins to remain supported by easing feed costs, especially for corn and soybean meal. The stock closed unchanged at 61 sen today, with a market cap of RM2.20 billion. –TMR
