Latest news with #RM20.04
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.
The Star
20-05-2025
- Business
- The Star
Malaysian stocks seen consolidating as corporate earnings trickle in
KUALA LUMPUR: Malaysia's main stock index traded sideways after a sharp dip in the previous session in light of the mildly positive performance in the US market overnight. The Dow Jones closed slightly higher while the S&P 500 and Nasdaq were flat after traders shrugged off a US sovereign ratings downgrade by Moody's and focused on corporate results that are scheduled to stream in over the next two weeks. The FBM KLCI showed signs of consolidation at the start of Tuesday trading, rising 0.78 points to 1,556.92. This in line with the expectation of brokerage TA Securities, which anticipates blue chips to consolidate with a downward bias as investors await fresh buying catalysts from upcoming corporate earnings releases. "Immediate resistance stays at 1,610, with next major resistance seen at 1,644 followed by the August 2024 high of 1,684. Immediate support is kept at 1,526, with 1,490 and 1,444 acting as stronger supports," it said in its market commentary. Rakuten Trade in its own analysis said the index's retreat to a five-day low could be owing to profit-taking activities among the local institutions. "Looking at the prevailing situation, the benchmark index may be stuck within a consolidation phase of 1,550-1,580 range over the medium term. Nonetheless, we expect the index to hover within the 1,550-1,560 range for today." At the time of writing, the slight bounce in the blue-chip stocks was led by Hong Leong Bank gaining 14 sen to RM20.04, Nestle adding 22 sen to RM81.02 and PETRONAS Dagangan rising 10 sen to RM19.74. Among actives today, Dutch Lady gained 90 sen to RM30, MPI rose 48 sen to RM20.48 and United Plantations climbed 32 sen to RM22.36.
