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Malay Mail
3 days ago
- Business
- Malay Mail
Bursa Malaysia opens higher after two days of losses, tracks Wall Street gains
KUALA LUMPUR, July 17 — Bursa Malaysia rebounded from two consecutive days of losses to open higher on Thursday, with buying interest emerging, tracking the lead from Wall Street's overnight performance. At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 4.99 points, or 0.33 per cent, to 1,516.49 from Wednesday's close of 1,511.50. The benchmark index opened 0.39 points higher at 1,511.89. The broader market was positive, with gainers outnumbering decliners 180 to 107, while 218 counters were unchanged, 1,952 untraded, and eight suspended. Turnover stood at 176.48 million shares worth RM91.94 million. Malacca Securities Sdn Bhd said overnight Wall Street session saw a gradual recovery of buying interest, shrugging off hotter-than-anticipated inflation numbers and uncertain trade policies following the recent announcement that United States Federal Reserve chair Jerome Powell has been fired. 'We also favour selected technology stocks, following the positive developments in global chip export policies. 'For a more defensive approach and in light of Bank Negara Malaysia's recent overnight policy rate cut, we continue to favour real estate investment trusts (REITs), as their dividend yields offer an attractive premium against government bonds,' it said in a note today. Among the heavyweight counters, Maybank gained four sen to RM9.57, Public Bank went up one sen to RM4.24, and Tenaga Nasional added six sen to RM13.74. CIMB and IHH Healthcare were flat at RM6.50 and RM6.52, respectively. In active trade, ACE debutant iCents Group was five sen higher at 29 sen, Nationgate rose three sen to RM1.51, Tan Chong Motors went down two sen to 77 sen, while NexG and TWL both remained unchanged at 48.5 sen and three sen, respectively. On the broader index board, the FBM Emas Index advanced 31.97 points to 11,403.0, the FBMT 100 Index climbed 32.39 points to 11,165.04, and the FBM Emas Shariah Index appreciated 34.50 points to 11,438.45. The FBM 70 Index inched up 29.23 points to 16,550.62, while the FBM ACE Index inched down 0.26 of a point to 4,581.82. By sector, the Financial Services Index increased 40.87 points to 17,284.63, the Energy Index edged down 1.31 points to 734.36, and the Plantation Index eased 0.54 of a point to 7,406.25. The Industrial Products and Services Index grew 0.34 of a point to 152.97. — Bernama
Free Malaysia Today
4 days ago
- Free Malaysia Today
DBKL says it gave Desa Pandan stallholders ample time to vacate site
Screenshots from a video showing the man brandishing a parang at Desa Pandan yesterday. PETALING JAYA : Kuala Lumpur City Hall (DBKL) said today it had ordered hawkers in Desa Pandan to vacate a site in January, following a brief standoff between enforcement officers and a parang-wielding man yesterday. DBKL said it wanted the area on Jalan 2/76 cleared to carry out road works and upgrade facilities. In a statement, it said it had engaged and informed the stakeholders, including the hawkers and their associations, of its plans. The hawkers were officially told to vacate the site on Jan 15, it said, and a final notice was issued on July 4. 'Demolition work was to be carried out on July 15, but it was put on hold due to the commotion at the site,' it said. Police arrested a 43-year-old man after he brandished a parang at DBKL officers during an operation to demolish the illegal structures at Desa Pandan. The man is said to have confronted the officers at about 11.15am during the operation, which also involved the police, Tenaga Nasional Bhd, and Air Selangor. Wangsa Maju police chief Lazim Ismail had said the man shouted profanities at the officers before being calmed down by members of the public.
Free Malaysia Today
4 days ago
- Business
- Free Malaysia Today
Bursa flat in early trade after downbeat Wall Street performance
KUALA LUMPUR : Bursa Malaysia made a flat start on Wednesday, following the downbeat performance on Wall Street overnight. At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched down 0.29 of a point, or 0.02%, to 1,525.11 from Tuesday's close of 1,525.40. The benchmark index opened 1.63 points lower at 1,523.77. The market breadth was weaker, with decliners outnumbering gainers 178 to 108, while 282 counters were unchanged, 1,877 untraded, and eight suspended. Turnover stood at 165.78 million shares worth RM85.02 million. Malacca Securities Sdn Bhd said Wall Street's initial rally faded as hotter-than-expected inflation data failed to ease tariff concerns and increased bets that the US Federal Reserve will hold interest rates. 'Following Wall Street's downbeat performance, the local bourse could start on a weaker tone. However, we believe the overall situation may favour the technology stocks with the resumption of chip sales in China, and the technology sector on the local front may see decent buying interest,' it said in a note today. The brokerage firm also favours the real estate investment trusts sector on the back of the recent Bank Negara Malaysia overnight policy rate cut, 'while the consumer sector may benefit from downtrading activities as inflationary pressures remain sticky.' Among the heavyweight counters, Maybank fell one sen to RM9.64, Tenaga Nasional lost six sen to RM13.84, and CIMB was three sen lower at RM6.60. Public Bank gained one sen to RM4.27 while IHH Healthcare was flat at RM6.58. In active trade, NexG added half a sen to 48 sen, Nationgate went up by two sen to RM1.51, Green Ocean Corporation inched up one sen to 13.5 sen, Zetrix AI was 1.5 sen higher at 94.5 sen, and TWL remained unchanged at 2.5 sen. On the broader index board, the FBM Emas Index dropped 7.99 points to 11,468.09, the FBMT 100 Index slipped 6.30 points to 11,231.31, and the FBM Emas Shariah Index eased 3.44 points to 11,479.74. The FBM 70 Index narrowed 27.40 points to 16,661.0, while the FBM ACE Index inched down four points to 4,583.62. By sector, the Financial Services Index declined 17.28 points to 17,485.37, the Energy Index edged down 0.93 of a point to 737.99, and the Plantation Index improved 13.63 points to 7,432.05. The Industrial Products and Services Index shaved 0.02 of a point to 153.37.
Malay Mail
4 days ago
- Business
- Malay Mail
Cautious start for Bursa Malaysia following Wall Street's overnight pullback
KUALA LUMPUR, July 16 — Bursa Malaysia made a flat start on Wednesday, following the downbeat performance on Wall Street overnight. At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched down 0.29 of a point, or 0.02 per cent, to 1,525.11 from Tuesday's close of 1,525.40. The benchmark index opened 1.63 points lower at 1,523.77. The market breadth was weaker, with decliners outnumbering gainers 178 to 108, while 282 counters were unchanged, 1,877 untraded, and eight suspended. Turnover stood at 165.78 million shares worth RM85.02 million. Malacca Securities Sdn Bhd said Wall Street's initial rally faded as hotter-than-expected inflation data failed to ease tariff concerns and increased bets that the US Federal Reserve will hold interest rates. 'Following Wall Street's downbeat performance, the local bourse could start on a weaker tone. However, we believe the overall situation may favour the technology stocks with the resumption of chip sales in China, and the technology sector on the local front may see decent buying interest,' it said in a note today. The brokerage firm also favours the real estate investment trusts sector on the back of the recent Bank Negara Malaysia overnight policy rate cut, 'while the consumer sector may benefit from downtrading activities as inflationary pressures remain sticky.' Among the heavyweight counters, Maybank fell one sen to RM9.64, Tenaga Nasional lost six sen to RM13.84, and CIMB was three sen lower at RM6.60. Public Bank gained one sen to RM4.27 while IHH Healthcare was flat at RM6.58. In active trade, NexG added half a sen to 48 sen, Nationgate went up by two sen to RM1.51, Green Ocean Corporation inched up one sen to 13.5 sen, Zetrix AI was 1.5 sen higher at 94.5 sen, and TWL remained unchanged at 2.5 sen. On the broader index board, the FBM Emas Index dropped 7.99 points to 11,468.09, the FBMT 100 Index slipped 6.30 points to 11,231.31, and the FBM Emas Shariah Index eased 3.44 points to 11,479.74. The FBM 70 Index narrowed 27.40 points to 16,661.0, while the FBM ACE Index inched down four points to 4,583.62. By sector, the Financial Services Index declined 17.28 points to 17,485.37, the Energy Index edged down 0.93 of a point to 737.99, and the Plantation Index improved 13.63 points to 7,432.05. The Industrial Products and Services Index shaved 0.02 of a point to 153.37. — Bernama
Free Malaysia Today
5 days ago
- Free Malaysia Today
Cops nab man for brandishing parang at DBKL officers
Screenshots of a video in which the man can be seen brandishing a parang and shouting at DBKL officers. PETALING JAYA : A 43-year-old man has been arrested after a parang was brandished at Kuala Lumpur City Hall (DBKL) officials during an operation to demolish illegal structures in Desa Pandan this morning. The man is said to have confronted the DBKL enforcement officers at about 11.17am during the operation which also involved the police, Tenaga Nasional and Air Selangor. Wangsa Maju police chief Lazim Ismail said the man shouted profanities at the officers before being calmed down by members of the public. An investigation paper has been opened into the use of criminal force to obstruct public servants in their duties. Lazim urged the public not to spread misinformation on social media that could cause public alarm.
