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New Straits Times
3 days ago
- Business
- New Straits Times
Bursa Malaysia opens higher on bargain hunting
KUALA LUMPUR: Bursa Malaysia opened higher, supported by bargain hunting and tracking the positive performance of Wall Street overnight. At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) improved 5.23 points, or 0.34 per cent, to 1,531.3926.16 from Tuesday's close of 1,526.16. The benchmark index opened 3.98 points higher at 1,530.14. In the broader market, gainers led decliners 212 to 124, with 267 counters unchanged, 1,793 untraded and 50 suspended. Turnover stood at 182.59 million units worth RM103.22 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Wall Street rallied as Trump's tariff threat on the European Union was pushed back. "Though uncertainties remain, traders are confident that some sort of deal may be agreed on. "Meanwhile, the US consumer confidence for May came in higher than expected with the US 10-year yield easing to 4.446 per cent," he told Bernama. Back home, Rakuten Trade is hoping for an immediate rebound above the 1,530 mark. Thus, expect the index to hover within the 1,525-1,540 range today, said Thong. "As for corporate earnings so far, we believe all is well for corporate Malaysia," he added. Among heavyweight counters, Maybank and CIMB bagged three sen each to RM9.88 and RM6.93, respectively. Public Bank added one sen to RM4.39, Tenaga jumped 16 sen to RM14.16, while IHH Healthcare was flat at RM6.90. As for active stocks, Velesto and SFP Tech inched up half-a-sen each to 17 sen and 21 sen, respectively, Oasia Home and Thriven inched down half-a-sen to 27.5 sen and 9.5 sen, respectively, while NexG was flat at 36.5 sen On the index board, the FBM Emas Index rose 37.25 points to 11,434.31, the FBMT 100 Index was 38.46 points better at 11,198.83, but the FBM ACE Index eased 0.97 of-a-point to 4,572.63. The FBM Emas Shariah Index increased 39.88 points to 11,394.00, and the FBM 70 Index gained 56.90 points to 16,280.21. Across the sectors, the Financial Services Index improved 37.16 points to 18,085.84, the Industrial Products and Services Index inched down 0.02 of-a-point to 153.42, the Energy Index added 2.26 points to 700.92, while the Plantation Index fell 39.06 points to 7,337.58.
Barnama
4 days ago
- Business
- Barnama
Bursa Malaysia Opens Easier On Lack Of Market-Moving News
At 9.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.59 points to 1,532.71 from Monday's close of 1,534.30. KUALA LUMPUR, May 27 (Bernama) -- Bursa Malaysia traded easier during early morning trade, dampened by a lack of market-moving news as traders awaited more clarity from the Trump administration on tariffs, analysts said. In the broader market, gainers led decliners 171 to 146, with 257 counters unchanged, 1,821 untraded and 17 suspended. It noted that Wall Street was closed on Monday in conjunction with Memorial Day, but the US equity futures advanced as investors reacted positively to President Trump's tariff deadline extension on the European Union. 'Besides, given rising geopolitical tension, and amid uncertainty surrounding the Trump administration's stance on tariff, we expect the market to adopt a defensive stance, and the momentum in real estate investment trusts may persist,' it said. Malacca Securities Sdn Bhd in a note today said the market may face further weakness amid continued foreign fund outflows. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said traders were also concerned that a prolonged price war amongst the electric vehicles players to clear inventory will see extended margin compression. Back home, the FBM KLCI closed marginally lower on Monday as foreign selling is suspected to remain prevalent. 'These short term trades by foreign funds would certainly lengthen the consolidation of the benchmark index. For today, we expect the index to trend between the 1,535-1545 range,' he told Bernama. Among heavyweight stocks, Maybank fell four sen to RM9.88, while Public Bank dropped three sen to RM4.38, Tenaga and IHH Healthcare slid two sen each to RM13.98 and RM6.89 respectively, and CIMB shed one sen to RM6.95. Among active stocks, NexG bagged one sen to 37.5 sen, MYEG gained 1.5 sen to 91 sen, OCR Group and Velesto were flat at RM3.5 sen and 17 sen respectively, while Armada eased one sen to 47.5 sen. On the index board, the FBM Emas Index lost 5.55 points to 11,450.14, the FBMT 100 Index fell 6.59 points to 11,212.12, and the FBM ACE Index was down 8.20 points to 4,589.87. The FBM Emas Shariah Index increased 0.14 of a point to 11,390.13, and the FBM 70 Index added 10.58 points to 16,313.94. Across the sectors, the Financial Services Index was 23.92 points higher at 18,147.16, the Industrial Products and Services Index inched down 0.02 of a point to 153.72, the Energy Index eased 1.34 points to 704.57, and the Plantation Index inched up 0.65 of a point to 7,336.02. -- 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
New Straits Times
5 days ago
- Business
- New Straits Times
Bursa Malaysia lower at midday on profit-taking
KUALA LUMPUR: Bursa Malaysia ended the morning session lower, dragged down by profit-taking in selected heavyweights amid a broadly weaker regional market performance following a Wall Street selloff overnight. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.23 points, or 0.21 per cent, to 1,532.15 from Friday's close of 1,535.38. The benchmark index opened 0.95 of-a-point higher at 1,536.33, and fluctuated between 1,530.75 and 1,537.27 throughout the morning session. Market breadth was negative with 554 decliners and 248 gainers, while 429 counters were unchanged, 1,199 untraded and 42 suspended. Turnover stood at 2.04 billion shares valued at RM792.32 million. Hong Leong Investment Bank Bhd in a note today said the FBM KLC is expected to remain choppy in the near term as investors stay cautious during the corporate earnings climax this week, compounded by renewed foreign net outflows. "Sentiment is likely to stay soft amid rising fears that a tariff-driven global slowdown could undermine Malaysia's economic momentum and corporate earnings. "Caution is likely to persist until a clear and sustainable trade agreement is reached between the US and its key partners, including Malaysia," it said. The investment bank said sentiment was further dampened by concerns over widening US fiscal deficit, erratic US trade policies, and the US Federal Reserve's data-dependent approach to interest rate decisions, all set against a backdrop of rising recession or stagflation risks. "These macro uncertainties are expected to limit near-term upside and restrain risk appetite," it added. Among heavyweights, Maybank and Tenaga Nasional were flat at RM9.88 and RM14 respectively, while Public Bank added three sen to RM4.43. CIMB and IHH Healthcare shed one sen each to RM6.93 and RM6.89, respectively. As for active stocks, Harvest Miracle, OCR Group and Sapura Energy were flat at 18 sen, 3.5 sen and four sen, respectively, while Tanco Holdings added one sen to 98.5 sen and Velesto inched up half-a-sen to 17 sen. On the index board, the FBM Emas Index lost 36.24 points to 11,437.81, the FBMT 100 Index shaved 33.73 points to 11,199.36, and the FBM ACE Index went down 30.68 points to 4,585.26. The FBM Emas Shariah Index decreased 55.35 points to 11,370.86 and the FBM 70 Index tumbled 89.43 points to 16,260.83. Across sectors, the Financial Services Index was 19.01 points better at 18,121.59, the Industrial Products and Services Index inched down 0.70 of-a-point to 153.34, the Energy Index eased 2.71 points to 708.06, and the Plantation Index increased 2.71 points to 7,333.02.
New Straits Times
23-05-2025
- Business
- New Straits Times
Bursa Malaysia snaps 6-day losing streak, CI up on bargain hunting
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) snapped a six-day losing streak to close the week higher as bargain-hunting emerged due to improved risk sentiment. At 5 pm, the FBM KLCI rose 8.36 points, or 0.55 per cent, to 1,535.38 from Thursday's close of 1,527.02. The benchmark index, which opened 4.91 points higher at 1,531.93, fluctuated between 1,531.76 and 1,536.75 throughout the day. In the broader market, gainers beat losers 468 to 447, while 506 counters were unchanged, 998 untraded, and 41 suspended. Turnover fell slightly to 2.72 billion units worth RM2.17 billion compared with Thursday's 2.78 billion units worth RM2.15 billion. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI reversed six days of losses, staging a broad-based recovery that began in the morning session and was sustained throughout the day. He added that improved risk sentiment, coupled with a pullback in US Treasury yields, spurred bargain-hunting across selected large-cap stocks. "Notably, the easing in bond yields after a strong spike provided relief to rate-sensitive sectors, particularly local banking stocks, which led gains on the day. As a result, we observed a meaningful rebound in both the financial sector index and key banking counters, contributing positively to the overall index performance," he told Bernama. Among heavyweights, Maybank rose 6.0 sen to RM9.88, Public Bank jumped 10 sen to RM4.40, CIMB went up 9.0 sen to RM6.94, IHH Healthcare gained 2.0 sen to RM6.90, Tenaga Nasional was flat at RM14, and YTL Power shed 21 sen to RM3.39. For active stocks, Main Market debutant Eco-Shop advanced 7.0 sen to RM1.20, MYEG and Tanco both increased 2.5 sen to 92 sen and 97.5 sen, respectively, Aizo was flat at 8.5 sen, and Barakah Offshore declined 2.5 sen to half-a-sen.
New Straits Times
08-05-2025
- Business
- New Straits Times
Bursa Malaysia erases early gains to end lower
KUALA LUMPUR: Bursa Malaysia gave up early gains to close lower today, as profit-taking emerged in selected financial services counters, amid cautious sentiment on the regional market, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 0.46 per cent, or 7.16 points, to 1,542.74 from yesterday's close of 1,549.90. Maybank and CIMB were the top two contributors to the benchmark index's decline, falling 12 sen to RM9.88 and 8.0 sen to RM6.87, respectively, with a combined negative contribution of 3.55 points. The market bellwether opened 0.31 of-a-point higher at 1,550.21, and moved between 1,541.45 and 1,551.59 throughout the day. In the broader market, however, gainers outpaced losers 514 to 407, while 479 counters were unchanged, 951 untraded, and nine suspended. Turnover swelled to 3.36 billion units worth RM2.71 billion compared to 2.84 billion units worth RM2.43 recorded on Wednesday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the local benchmark index was unable to extend the momentum from yesterday's gains as sentiment turned cautious despite a broadly supportive global backdrop. "As anticipated, the US Federal Reserve (Fed) maintained its policy rate at 4.25–4.5 per cent, while flagging heightened uncertainty and signalling two-sided risks. "In addition to the Fed's Federal Open Market Committee (FOMC) decision, Bank Negara Malaysia's Monetary Policy Committee (MPC) meeting also concluded today with a decision to keep the Overnight Policy Rate (OPR) unchanged," he told Bernama. He said this domestic policy stability appeared to provide a lift to the utilities sector, which led the gainers today. "Despite the broader market pullback, we maintain a constructive view that the FBM KLCI's recent relief rally remains intact, with potential to test the 1,555 level—last seen on March 4, the day US President Donald Trump announced his initial wave of tariffs on imports. "This level carries historical significance and reflects the index's sensitivity to global trade policy developments," he said. Among other heavyweights, Public Bank shed 2.0 sen to RM4.45, CelcomDigi declined 4.0 sen to RM3.87, Hong Leong Bank dipped 6.0 sen to RM19.94, while Tenaga Nasional gained 14 sen to RM14.30 and IHH Healthcare added 1.0 sen to RM7.01. For active stocks, Nationgate increased 9.0 sen to RMRM1.58, Tanco rose 1.5 sen to 91.5 sen, Velesto and MYEG earned half-a-sen each to 16 sen and 90 sen, respectively, while Fibromat slid 5.5 sen to 49.5 sen.
