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Malay Mail
a day ago
- Business
- Malay Mail
Bursa Malaysia in correction mode next week, say analysts, as traders eye break above 1,535
KUALA LUMPUR, June 1 — The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trade within a volatile range of 1,500 to 1,530 next week, pending the emergence of new market-moving developments. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market sentiment will remain subdued, with investors maintaining a wait-and-see approach. 'From a technical standpoint, the FBM KLCI is in a correction phase, trading below its key moving averages, with technical indicators pointing to short-term weakness. 'Nonetheless, there are signs that the index may be positioning for a recovery, particularly if macroeconomic pressures subside and regional sentiment improves,' he told Bernama. Thong said a clear break above the 1,535 level could confirm a shift towards bullish momentum. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI is expected to trade in a narrow range in the absence of clear catalysts. 'Should the index fall below the 1,500 level, bargain hunting may emerge — especially in undervalued large-cap names. 'Volatility may also increase due to several external triggers. South Korea's presidential election on Tuesday could influence regional sentiment, while investors will be closely monitoring a series of economic data releases from China, Japan, South Korea, Taiwan, and Malaysia — including updates on exports, inflation, and purchasing managers' indices,' he said. Mohd Sedek noted that Bursa Malaysia will see a shortened four-day trading week next week, due to the long weekend, which could lead to thinner trading volumes and heightened market volatility. 'Investors should remain vigilant, maintain diversified portfolios, and be prepared for intermittent of volatility as uncertainty continues to shape the investment landscape,' he added. Mohd Sedek said a US appeals court has stayed a prior ruling that had blocked President Donald Trump's use of reciprocal tariffs under the 1977 International Emergency Economic Powers Act, raising fresh questions about the future direction of US trade enforcement. Bursa Malaysia Bhd and its subsidiaries will be closed on June 2, 2025, in conjunction with the official birthday of His Majesty Sultan Ibrahim, King of Malaysia. The exchange and its subsidiaries will resume operations on Tuesday, June 3, 2025. For the week just ended, Bursa Malaysia retreated from earlier gains and ended lower on Friday weighed down by continued selling pressure in heavyweight and mid-cap stocks amid downbeat regional sentiment, following the uncertainty surrounding US trade policy. On a Friday-to-Friday basis, the barometer index fell 27.03 points to 1,508.35 from 1,535.38 a week earlier. The FBM Emas Index dipped 174.25 points to 11,299.80, the FBMT 100 Index slipped 172.10 points to 11,061.00, and the FBM Emas Shariah Index declined 169.96 points to 11,256.26. The FBM 70 Index lost 148.75 points to 16,201.51, and the FBM ACE Index fell 64.91 points to 4,551.03. Across sectors, the Financial Services Index tumbled 262.04 points to 17,840.54, the Industrial Products and Services Index was 1.39 points easier at 152.65, and the Energy Index shed 2.73 points to 708.04. The Plantation Index shrank 122.46 points to 7,207.85 and the Healthcare Index dropped 16.94 points to 1,816.95. Turnover advanced to 14.80 billion units valued at RM12.78 billion from 14.05 billion units valued at RM11.28 billion in the preceding week. The Main Market volume improved to 7.21 billion units worth RM11.50 billion against 7.14 billion units worth RM10.06 billion. Warrants turnover expanded to 5.90 billion units worth RM721.75 million against 5.13 billion units worth RM645.54 million a week ago. The ACE Market volume narrowed to 1.66 billion units valued at RM543.90 million from 1.78 billion units valued at RM563.52 million. — Bernama
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
Bursa ends on weak note amid subdued regional sentiment
KUALA LUMPUR : Bursa Malaysia failed to sustain earlier gains and ended the week on a weaker note, weighed down by continued selling pressure in heavyweight and midcap stocks amid downbeat regional sentiment. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said regional markets slipped after US Treasury secretary Scott Bessent announced that trade talks with China had hit a standstill, reducing confidence in a long-term reduction in tariffs. 'Investors are closely monitoring the situation, as further developments in US-China trade relations could significantly impact global markets. 'We believe that geopolitical tensions and economic data offer little reassurance, Asian markets may remain volatile in the near term,' he told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan noted that despite a firmer overnight lead from Wall Street, the FTSE Bursa Malaysia KLCI (FBM KLCI) failed to sustain its early gains, weighed down by continued foreign fund outflows and persistent macroeconomic and political uncertainties. 'The index has now erased much of its earlier momentum, sending the one-month return to (-2%) and hovering just above the key psychological threshold of 1,500. 'As of yesterday, foreign investors had extended their net selling streak to 10 consecutive sessions,' he added. He said investor sentiment remains cautious as markets weigh recent changes in ministerial leadership and the potential for adjustments in the Cabinet, with attention focussed on policy continuity and Malaysia's broader economic direction. On the global front, Sedek said uncertainty surrounding US trade policy continues to cloud market visibility. He said a US appeals court has stayed a prior ruling that had blocked President Donald Trump's use of reciprocal tariffs under the 1977 International Emergency Economic Powers Act, raising fresh questions about the future direction of US trade enforcement. 'While the legal process unfolds, businesses and markets are left navigating a more complex and uncertain global trade landscape,' he added. At 5pm, the FBM KLCI slipped 10.63 points, or 0.70% to 1,508.35 from yesterday's close of 1,518.98. The benchmark index opened 2.24 points higher at 1,521.22, and subsequently hit the day's high of 1,522.06 in early trade before losing its steady momentum to close at its intraday low. On the broader market, decliners outnumbered gainers 616 to 336, while 417 counters were unchanged, 1,025 untraded and 86 suspended. Turnover fell to 3.21 billion units worth RM5.04 billion compared with yesterday's 3.30 billion units worth RM2.22 billion. Among heavyweights, Maybank shed nine sen to RM9.78, Tenaga Nasional slipped eight sen to RM14, and IHH Healthcare eased one sen to RM6.90. CIMB was five sen higher at RM6.93 while Public Bank was flat at RM4.31. In active trade, KPJ Healthcare lost 24 sen to RM2.72, Velesto inched down 0.5 sen to 18 sen, Tanco fell four sen to RM1, while Eco-Shop and NationGate gained seven sen each to RM1.26 and RM1.51, respectively. On the index board, the FBM Emas Index tumbled 82.53 points to 11,299.80, the FBM ACE Index fell 41.13 points to 4,551.03, and the FBMT 100 Index slid 81.02 points to 11,061.00. The FBM Emas Shariah Index lost 109.57 points to 11,256.26 and the FBM 70 Index sank 130.80 points to 16,201.51. By sector, the financial services index slipped 53.03 points to 17,840.54, the industrial products and services index edged down 0.37 of-a-point to 152.65, the energy index eased 0.14 of-a-point to 708.04, while the plantation index dipped 86.10 points to 7,207.85. The Main Market volume improved to 1.88 billion units valued at RM4.82 billion against yesterday's 1.56 billion units valued at RM1.93 billion. Warrants turnover declined to 1 billion units worth RM111.49 million from 1.37 billion units worth RM164.04 million previously. The ACE Market volume dwindled to 318.43 million shares worth RM107.68 million from 364.60 million shares worth RM120.88 million yesterday. Consumer products and services counters accounted for 354.31 million shares traded on the Main Market, industrial products and services (280.66 million), construction (110.97 million), technology (208.24 million), SPAC (nil), financial services (213.49 million), property (181.60 million), plantation (36.80 million), REITs (24.92 million), closed/fund (23,900), energy (139.78 million), healthcare (126.76 million), telecommunications and media (100.57 million), transportation and logistics (21.18 million), utilities (90.07 million), and business trusts (11,200).
Free Malaysia Today
4 days ago
- Business
- Free Malaysia Today
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 9.05am, 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 added. 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.
Malay Mail
5 days ago
- Business
- Malay Mail
Bursa Malaysia reverses gains, closes lower on late selling pressure
KUALA LUMPUR, May 28 — Bursa Malaysia failed to sustain earlier gains recorded for most part of the day to end lower on late selling, amid a mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 2.68 points to 1,523.48 from Tuesday's close of 1,526.16. The benchmark index opened 3.98 points higher at 1,530.14, and subsequently hit the day's high of 1,532.90 in early trade before losing its steady momentum to close at its intraday low. In the broader market, decliners beat gainers 474 to 435, with 499 counters unchanged, 988 untraded and 50 suspended. Turnover declined to 2.50 billion units worth RM2.03 billion compared with Tuesday's 2.65 billion units worth RM1.85 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said strong selling in Sime Darby Bhd, following its lower-than-expected quarterly earnings, also dragged the FBM KLCI into negative territory by the end of the day. Sime Darby reported a significantly lower net profit of RM193.0 million in the third quarter ended March 31, 2025 (3Q 2025) cmpared with RM340.0 million in 3Q 2024, mainly due to lower profit from all core divisions. Its revenue also slipped to RM16.31 billion from RM18.84 billion year-on-year. Thong said equity markets in the region were mostly weaker ahead of Nvidia's earnings release later today, which is expected to offer key insights into the technology sector's trajectory. 'The domestic benchmark index came under pressure amid global economic uncertainties, concerns surrounding US policy direction, and selling activity in select sectors. 'In the near term, the market is expected to stay in a consolidation phase as investors remain focused on evolving local and global developments that may influence sentiment,' he told Bernama. As such, Rakuten Trade is maintaining its weekly FBM KLCI target at between 1,520 and 1,550, representing the support and resistance levels, respectively, he added. Among heavyweights, Maybank erased one sen to RM9.84, Public Bank dropped five sen to RM4.33, CIMB fell three sen to RM6.87, Sime Darby shed nine sen to RM1.78, while Tenaga Nasional jumped 10 sen to RM14.10 and IHH Healthcare gained one sen to RM6.91. As for active stocks, Velesto added one sen to 17.5 sen, Tanco increased two sen to RM1.03, Oasis Home edged up half-a-sen to 28.5 sen, while Permaju eased half-a-sen to 1.5 sen, and Nationgate dipped one sen to RM1.58. On the index board, the FBM Emas Index inched up 0.11 of-a-point to 11,397.17, the FBMT 100 Index edged up 0.99 of-a-point to 11,161.36, but the FBM ACE Index slid 24.26 points to 4,549.34. The FBM Emas Shariah Index increased 21.39 points to 11,375.51 and the FBM 70 Index rose 83.34 points to 16,306.65. Across the sectors, the Financial Services Index tumbled 90.77 points to 17,957.90, the Industrial Products and Services Index slipped 0.74 of-a-point to 152.70, the Energy Index gained 7.85 points to 706.51, while the Plantation Index plunged 84.09 points to 7,292.55. The Main Market volume improved to 1.34 billion units valued at RM1.80 billion against Tuesday's 1.19 billion units valued at RM1.60 billion, Warrants turnover dwindled to 815.91 million units worth RM113.60 million from 1.10 billion units worth RM134.59 million previously. The ACE Market volume decreased to 346.43 million shares worth RM119.44 million from 351.78 million shares worth RM109.53 million yesterday. Consumer products and services counters accounted for 294.74 million shares traded on the Main Market, industrial products and services (197.51 million), construction (102.79 million), technology (150.98 million), SPAC (nil), financial services (68.10 million), property (154.19 million), plantation (17.34 million), REITs (19.93 million), closed/fund (3,000), energy (196.53 million), healthcare (37.25 million), telecommunications and media (46.94 million), transportation and logistics (19.95 million), utilities (36.99 million), and business trusts (7,200). — Bernama
Free Malaysia Today
6 days ago
- Business
- Free Malaysia Today
Bursa 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 markets. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said the FTSE Bursa Malaysia KLCI (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 Zafrul Aziz, who suggested the US may revise its proposed tariffs on Malaysian exports to a lower baseline of 10% – 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 the 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% tariffs on EU goods from June 1 to July 9,' he added. Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research 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. At 5pm, the FBM KLCI slipped 8.14 points, or 0.53%, to 1,526.16 from yesterday's close of 1,534.30. The benchmark index opened 0.94 of-a-point higher at 1,535.24, and fluctuated 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 yesterday's 3.12 billion units worth RM1.63 billion. Among heavyweight counters, Maybank shed 7 sen to RM9.85, Public Bank dropped 3 sen to RM4.38, CIMB lost 6 sen to RM6.90, and IHH Healthcare erased 1 sen to RM6.90, while Tenaga Nasional was flat at RM14. As for active stocks, Permaju dropped 1 sen to 2 sen, Sinaran Advance plunged 7 sen to 3 sen, SFP Tech fell 1.5 sen to 20.5 sen, Velesto eased 0.5 sen to 16.5 sen, while Tanco put on 1 sen to RM1.01. On the index board, the FBM Emas Index lost 58.63 points to 11,397.06, the FBMT 100 Index dipped 58.34 points to 11,160.37, and the FBM ACE Index slid 24.47 points to 4,573.60. The FBM Emas Shariah Index dropped 35.86 points to 11,354.12 and the FBM 70 Index shrank 80.05 points to 16,223.31. Across the sectors, the financial services index tumbled 122.40 points to 18,048.68, the industrial products and services index inched down 0.30 of a point to 153.44, the energy index eased 7.25 points to 698.66, while the plantation index gained 41.27 points to 7,376.64. The Main Market volume narrowed to 1.19 billion units valued at RM1.60 billion against yesterday's 1.23 billion units valued at RM1.34 billion. Warrants turnover slipped to 1.10 billion units worth RM134.59 million from 1.60 billion units worth RM198 million previously. The ACE Market volume expanded to 351.78 million shares worth RM109.53 million from 278.81 million shares worth RM86.35 million yesterday. Consumer products and services counters accounted for 287.32 million shares traded on the Main Market, industrial products and services (199.70 million), construction (180.42 million), technology (126.96 million), SPAC (nil), financial services (81.79 million), property (124.88 million), plantation (21.99 million), REITs (17.89 million), closed/fund (nil), energy (116.49 million), healthcare (38.17 million), telecommunications and media (44.55 million), transportation and logistics (16.94 million), utilities (41.41 million), and business trusts (20,000).
