Latest news with #TASecurities
The Star
a day ago
- Business
- The Star
Lack of trading interest snuffs out market rally
KUALA LUMPUR: A two-day rally on the domestic market fizzled out by Friday as the FBM KLCI opened on a flat note amid an absence of positive catalysts. Still digesting the effects of a lacklustre corporate earnings season, the FBM KLCI started 1.21 points lower at 1,516.91 as investors awaited some fresh guidance on trading direction. Overnight, Wall Street indices were dragged lower by a 14% slump in Tesla shares after an all-out social media brawl erupted between US President Donald Trump and Elon Musk. The conflict between the two former allies overshadowed a tariffs discussion between Trump and Chinese leader Xi Jinping, which suggested progress towards a trade resolution between the two economic superpowers. TA Securities, however, opines that Bursa Malaysia investors will be looking ahead to US employment data to guage the economic impact of Trump's tariff policies. "Investors will likely avoid making significant plays ahead of the weekend, as they await the release of crucial employment data from the US to gauge the economic impact of President Donald Trump's tariff policies. "Immediate index support stays at 1,490, while stronger supports can be found at 1,465 and 1,444. Immediate resistance is kept at 1,564 with next upside hurdles seen at the recent high of 1,586, followed by 1,610 ahead," said TA Securities. On the FBM KLCI , CIMB dipped three sen to RM6.84, YTL Power lost five sen to RM3.46 and PETRONAS Chemicals shed five sen to RM3.31. Top actives were Green Packet unchanged at 2.5 sen, Autocount Dotcom down 10 sen to RM1.08 and MYEG dipping 0.5 sne to 92.5 sen.
The Star
26-05-2025
- Business
- The Star
Analysts expect sideways trading on Bursa ahead of final corporate results
KUALA LUMPUR: The extension of the deadline to impose tariffs on European imports to the US is giving investors some breathing room as trade tensions surfaced again over the weekend. Following an impasse in negotiations between US and EU policymakers, Trump's announcement of 50% tariffs on shipments from the bloc sparked another sell-down in equities as investors sought out safer investments. As the trading week commenced on Monday, Asian markets showed some relief at the tariffs postponement. Malaysia's benchmark index opened 0.95 points higher at 1,536.33 on Monday. TA Securities Research noted that the previous week's profit-taking correction has significantly weakened technical momentum and trend indicators on the FBM KLCI. As such, the broker expects last Friday's rebound to be short-lived. Looking ahead, local stocks should likely trade sideways with downside bias ahead of the final release leg of a slew of earnings results from local corporates in the upcoming week. "However, the likely presence of bargain hunters anticipating cheaper levels should provide much needed support to the local benchmark," it said in its market commentary. TA Securities added that investors will be paying close attention to announcements from this week's Asean Summit 2025, for cues on the future direction of the region, especially in response to external trade uncertainties. The firm's stock picks for the week include key banking, construction, oil and gas, and technology-related blue chips. Lower liners such as CIMB, RHB Bank, Gamuda, Gadang, Dialog, Hibiscus, DNEX and Unisem should attract bargain hunters for looking for recovery plays ahead, it said. Among the early gainers, Allianz rose 30 sen to RM19.10, Aurelius Tech gained 18 sen to RM3.40 and Nuenergy added 4.5 sen to 47 sen. Leading actives were Harvest Miracle flat at 18 sen, Eco-shop down one sen to RM1.19 and Sarawak Cable down 0.5 sen to 1.5 sen.
The Star
23-05-2025
- Business
- The Star
FBM KLCI rises in morning trade after losing streak
KUALA LUMPUR: Malaysia's main stock index started higher on Friday, raising hopes that the losing streak could finally be at an end. At 9am, the FBM KLCI rose 4.91 points to 1,531.93 as investors halted the selling after six straight days of losses. Analysts, however, are not overly optimistic over a reversal. According to Rakuten Trade, the FBM KLCI slumped below the crucial 1,530 level yesterday amid a regional bloodbath. "We believe foreign funds are unwinding their position within the regional markets amid heightening uncertainties over the US budget deficit and interest rates," said the broker. "Though we hope for an immediate rebound, we believe it is inevitable that the index to hover within the 1,520-1,530 range today." TA Securities said it expects buying momentum on index heavyweights to dwindle, with investors awaiting more earnings from local corporates in the coming days, as well as greater clarity on US trade deals with key trading partners in the region. "Immediate resistance is revised lower to the recent high of 1,586, with next major resistance seen at 1,610 followed by 1,644. Immediate support remains at 1,526, with 1,490 and 1,444 acting as stronger supports," it added in a note. On the FBM KLCI, Maybank rose six sen to RM9.88 after the previous day's sell-off, while CIMB gained five sen to RM6.90 and PETRONAS Chemicals climbed nine sen to RM3.41. Among movers on the broader market, Tomei rose three sen to RM1.75, Kossan gained two sen to RM1.67 and AmBank added five sen to RM5.39. Eco-Shop made its debut on the main market with a 12 sen jump to an intra-morning high of RM1.25. At the time of writing, there was heavy trading volume of 28.34 million shares done.
The Star
21-05-2025
- Business
- The Star
Mild bounce on Bursa Malaysia amid subdued trading
KUALA LUMPUR: Malaysia's benchmark index pulled up at the start of Wednesday trading after four consecutive days of profit-taking, although the consolidation phase is expected to continue over the near term. The FBM KLCI rose 4.07 points to 1,552.95, returning above the psychological 1,550 level amid a cautious market undertone. Rakuten Trade said there has been an absence of investor participation given the lack of catalysts, especially from the retail portion "As we do not expect the market to stage a trend reversal anytime soon, we believe the index to hover within the 1,545-1,555 range today," it said in a note. On developments in tariffs negotiations, TA Securities said investors are expected to remain sidelined while they monitor ongoing US trade discussions with India and Japan this week. It said this would lead to insights into future negotiations with other trade partners in the region. "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. Following its earnings announcement yesterday, Sunway Construction jumped 25 sen to RM5.13. Hume Industries rose 15 sen to RM3 and Time dotCom gained six sen to RM5.27. KLCI-heavyweight Hong Leong Bank gained 12 sen to RM20.02, QL Resources rose seven sen to RM4.66 and IOI climbed seven sen to RM3.69. Top actives in early trading were Harvest Miracle unchanged at 18 sen, Sarawak Cable down 4.5 sen to 3.5 sen and Alam Maritim gaining 0.5 sen to 3.5 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.
