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New Straits Times
2 days ago
- Business
- New Straits Times
Bursa opens firm on tech, AI investment optimism
KUALA LUMPUR: Bursa Malaysia opened higher on Thursday, lifted by optimism over the country's digital investment pipeline, despite an overnight decline on Wall Street. The Ministry of Investment, Trade and Industry said Malaysia's digital investment pipeline reached RM59.1 billion as of April 2025, fuelling growth in the artificial intelligence (AI) and technology sectors. At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.66 points to 1,525.14 from Wednesday's close of 1,523.48. The benchmark index opened 2.12 points higher at 1,525.60. In the broader market, decliners led gainers 147 to 123, while 237 counters were unchanged, 1,879 untraded and 110 suspended. Turnover was 107.21 million shares worth RM57.59 million. Wall Street closed lower overnight, following reports that the US President Donald Trump had ordered American software firms to halt services to Chinese companies, said Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng. He noted, however, that Nvidia's earnings, released after the market closed, exceeded consensus forecasts, reviving investor sentiment and lifting US futures. Back home, the FBM KLCI had fallen on May 28 despite a strong start, as market sentiment remained fragile. "As such, we expect the ongoing consolidation to persist in the absence of catalysts, with the index likely to hover between 1,520 and 1,530 today," he told Bernama. Among heavyweights, Malayan Banking added two sen to RM9.86, Public Bank rose one sen to RM4.34, and CIMB gained three sen to RM6.90. Tenaga Nasional was flat at RM14.10, while IHH Healthcare eased one sen to RM6.90. In active trade, Avangaad, Harvest Miracle, MYEG and Sumisaujana were unchanged at 28 sen, 18 sen, 89 sen and 17.5 sen respectively, while Nationgate added three sen to RM1.61. On the index board, the FBM Emas Index advanced 7.37 points to 11,404.54, the FBMT 100 Index rose 8.73 points to 11,170.10, and the FBM ACE Index gained 6.24 points to 4,555.58. The FBM Emas Shariah Index edged up 1.35 points to 11,376.86, while the FBM 70 Index slipped 0.68 of a point to 16,305.97. By sector, the Financial Services Index added 13.43 points to 17,971.33, the Industrial Products and Services Index eased 0.09 of a point to 152.61, the Energy Index fell 2.39 points to 704.12, while the Plantation Index rose 2.29 points to 7,294.84.
The Star
3 days ago
- Business
- The Star
FBM KLCI ends slightly higher at midday on cautious sentiment
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) ended slightly higher at midday as bargain-hunting was offset by cautious sentiment amid persistent global uncertainties. At 12.30 pm, the FBM KLCI increased 0.34 of a point to 1,526.50 from Tuesday's close of 1,526.16. The benchmark index opened 3.98 points higher at 1,530.14, and fluctuated between 1,524.04 and 1,532.80 throughout the morning session. In the broader market, decliners led gainers 418 to 349, with 468 counters unchanged, 1,161 untraded and 50 suspended. Turnover stood at 1.49 billion units worth RM931.68 million. Hong Leong Investment Bank Bhd said it expects the FBM KLCI to remain volatile in the near term as investor sentiment stays cautious amid the earnings peak this week and continued foreign net outflows. "Concerns over a tariff-driven global slowdown continue to weigh on market confidence, posing risks to Malaysia's economic momentum and corporate earnings,' it said in a note today. That said, downside risks may be mitigated by encouraging remarks from Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz on potential US-Malaysia trade deal prospects and strategic collaboration opportunities with ASEAN, Gulf Cooperation Council and China, it added. The investment bank said key weekly support is established between the 1,500 and 1,519 levels, while resistance is expected to emerge within the 1,550 to 1,570 range. Among heavyweight counters, Maybank, CIMB and IHH Healthcare were flat at RM9.85, RM6.90 and RM6.90 respectively, while Public Bank fell three sen to RM4.35 and Tenaga Nasional rose 10 sen to RM14.10. As for active stocks, Permaju went down half-a-sen to 1.5 sen, Sapura Energy was flat at four sen, while Velesto , Tanco and Magma added one sen each to 17.5 sen, RM1.02 and 43 sen respectively. On the index board, the FBM Emas Index added 5.64 points to 11,402.70, the FBMT 100 Index was 7.97 points better at 11,168.34, but the FBM ACE Index erased 20.16 points to 4,553.44. The FBM Emas Shariah Index increased 13.46 points to 11,367.58 and the FBM 70 Index gained 33.50 points to 16,256.81. Across the sectors, the Financial Services Index shed 38.18 points to 18,010.50, the Industrial Products and Services Index inched down 0.78 of-a-point to 152.66, the Energy Index added 3.89 points to 702.55, while the Plantation Index fell 75.63 points to 7,301.01. - Bernama
New Straits Times
3 days ago
- Business
- New Straits Times
FBM KLCI ends slightly higher at midday on cautious sentiment
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) ended slightly higher at midday as bargain-hunting was offset by cautious sentiment amid persistent global uncertainties. At 12.30 pm, the FBM KLCI increased 0.34 of a point to 1,526.50 from Tuesday's close of 1,526.16. The benchmark index opened 3.98 points higher at 1,530.14, and fluctuated between 1,524.04 and 1,532.80 throughout the morning session. In the broader market, decliners led gainers 418 to 349, with 468 counters unchanged, 1,161 untraded and 50 suspended. Turnover stood at 1.49 billion units worth RM931.68 million. Hong Leong Investment Bank Bhd said it expects the FBM KLCI to remain volatile in the near term as investor sentiment stays cautious amid the earnings peak this week and continued foreign net outflows. "Concerns over a tariff-driven global slowdown continue to weigh on market confidence, posing risks to Malaysia's economic momentum and corporate earnings," it said in a note today. That said, downside risks may be mitigated by encouraging remarks from Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz on potential US-Malaysia trade deal prospects and strategic collaboration opportunities with ASEAN, Gulf Cooperation Council and China, it added. The investment bank said key weekly support is established between the 1,500 and 1,519 levels, while resistance is expected to emerge within the 1,550 to 1,570 range. Among heavyweight counters, Maybank, CIMB and IHH Healthcare were flat at RM9.85, RM6.90 and RM6.90 respectively, while Public Bank fell three sen to RM4.35 and Tenaga Nasional rose 10 sen to RM14.10. As for active stocks, Permaju went down half-a-sen to 1.5 sen, Sapura Energy was flat at four sen, while Velesto, Tanco and Magma added one sen each to 17.5 sen, RM1.02 and 43 sen respectively. On the index board, the FBM Emas Index added 5.64 points to 11,402.70, the FBMT 100 Index was 7.97 points better at 11,168.34, but the FBM ACE Index erased 20.16 points to 4,553.44. The FBM Emas Shariah Index increased 13.46 points to 11,367.58 and the FBM 70 Index gained 33.50 points to 16,256.81. Across the sectors, the Financial Services Index shed 38.18 points to 18,010.50, the Industrial Products and Services Index inched down 0.78 of-a-point to 152.66, the Energy Index added 3.89 points to 702.55, while the Plantation Index fell 75.63 points to 7,301.01.
New Straits Times
4 days ago
- Business
- New Straits Times
Bursa Malaysia ends lower on profit-taking in financial counters
KUALA LUMPUR: Bursa Malaysia ended lower as profit-taking in financial services counters weighed on the market, amid cautious sentiment across the regional market. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 8.14 points, or 0.53 per cent, to 1,526.16 from Monday's close of 1,534.30. The benchmark index opened 0.94 of-a-point higher at 1,535.24, and fluctuate between 1,521.93 and 1,535.41 throughout the day. In the broader market, decliners outpaced gainers 575 to 338, with 474 counters unchanged, 1,008 untraded and 17 suspended. Turnover declined to 2.65 billion units worth RM1.85 billion compared with Monday's 3.12 billion units worth RM1.63 billion. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI extended its downtrend, weighed by continued foreign fund outflows for a sixth straight session, as investors remained risk-averse amid unresolved global trade tensions. This came despite comments earlier today from Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, who suggested the United States may revise its proposed tariffs on Malaysian exports to a lower baseline of 10 per cent—a notable development that nevertheless failed to significantly lift market sentiment, he told Bernama. "The market retained a defensive posture, as uncertainties surrounding trade tariffs continue to cloud outlook. "This caution persisted despite constructive signals from European markets and limited cues from Wall Street, where investors were processing Trump's decision to defer the implementation of 50 per cent tariffs on European Union (EU) goods from June 1 to July 9," he added. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key Asian markets ended mostly lower as investors are cautiously awaiting the latest developments on Trump's trade war. "Market participants are growing uneasy as Trump's unpredictable policy announcements and proposed tax cut extensions undermine confidence in the US economy and drive US Treasury yields higher. "On the domestic front, Malaysian equities remain attractive, supported by undervaluation, stronger corporate earnings, and an improving economic backdrop," he added. Nevertheless, the FBM KLCI is likely to stay in a consolidation phase in the near term, as cautious sentiment prevails amid rising global uncertainties, said Thong. "We expect the index to trade within the 1,520–1,550 range this week," he said. Among heavyweight counters, Maybank shed seven sen to RM9.85, Public Bank dropped three sen to RM4.38, CIMB lost six sen to RM6.90, and IHH Healthcare erased one sen to RM6.90, while Tenaga Nasional was flat at RM14. As for active stocks, Permaju dropped one sen to two sen, Sinaran Advance plunged seven sen to three sen, SFP Tech fell 1.5 sen to 20.5 sen, Velesto eased half-a-sen to 16.5 sen, while Tanco put on one sen to RM1.01.
Barnama
4 days ago
- Business
- Barnama
Bursa Malaysia Ends Lower On Profit-Taking In Financial Counters
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 8.14 points, or 0.53 per cent, to 1,526.16 from Monday's close of 1,534.30. KUALA LUMPUR, May 27 (Bernama) -- Bursa Malaysia ended lower as profit-taking in financial services counters weighed on the market, amid cautious sentiment across the regional market. In the broader market, decliners outpaced gainers 575 to 338, with 474 counters unchanged, 1,008 untraded and 17 suspended. The benchmark index opened 0.94 of-a-point higher at 1,535.24, and fluctuate between 1,521.93 and 1,535.41 throughout the day. This came despite comments earlier today from Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, who suggested the United States may revise its proposed tariffs on Malaysian exports to a lower baseline of 10 per cent—a notable development that nevertheless failed to significantly lift market sentiment, he told Bernama. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI extended its downtrend, weighed by continued foreign fund outflows for a sixth straight session, as investors remained risk-averse amid unresolved global trade tensions. 'This caution persisted despite constructive signals from European markets and limited cues from Wall Street, where investors were processing Trump's decision to defer the implementation of 50 per cent tariffs on European Union (EU) goods from June 1 to July 9,' he added. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key Asian markets ended mostly lower as investors are cautiously awaiting the latest developments on Trump's trade war. 'Market participants are growing uneasy as Trump's unpredictable policy announcements and proposed tax cut extensions undermine confidence in the US economy and drive US Treasury yields higher. 'On the domestic front, Malaysian equities remain attractive, supported by undervaluation, stronger corporate earnings, and an improving economic backdrop,' he added. Nevertheless, the FBM KLCI is likely to stay in a consolidation phase in the near term, as cautious sentiment prevails amid rising global uncertainties, said Thong. 'We expect the index to trade within the 1,520–1,550 range this week,' he said. Among heavyweight counters, Maybank shed seven sen to RM9.85, Public Bank dropped three sen to RM4.38, CIMB lost six sen to RM6.90, and IHH Healthcare erased one sen to RM6.90, while Tenaga Nasional was flat at RM14. As for active stocks, Permaju dropped one sen to two sen, Sinaran Advance plunged seven sen to three sen, SFP Tech fell 1.5 sen to 20.5 sen, Velesto eased half-a-sen to 16.5 sen, while Tanco put on one sen to RM1.01. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
