Latest news with #UOBKayHianWealthAdvisorsSdnBhd
New Straits Times
11 hours ago
- Business
- New Straits Times
Bursa Malaysia down ahead of key US data releases
KUALA LUMPUR: Bursa Malaysia ended lower today, pressured by selling activity amid cautious market sentiment as investors await key US economic data releases later this week. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.68 points or 0.18 per cent 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 fluctuated between 1,523.48 and 1,532.80 throughout the day. In the broader market, decliners outpaced gainers 474 to 435, with 499 counters unchanged, 938 untraded and 50 suspended. Turnover declined to 2.51 billion units worth RM2.04 billion compared with Tuesday's 2.66 billion units worth RM1.85 billion. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI closed lower today, failing to sustain an early recovery attempt, in contrast to Wall Street's overnight rally. He said persistent selling pressure weighed on the index, reflecting cautious market sentiment as investors await pivotal US economic data releases later this week. They are the Consumer Price Index and retail sales figures, which will provide critical insights into the trajectory of global economic growth. "Nvidia's quarterly earnings report, due tonight, remains a focal point, given its role as a bellwether for the tech sector and broader market confidence," he said. Sedek said foreign investors intensified their net selling on Bursa on Tuesday, extending last week's outflows. This sustained selling underscores heightened caution among global funds amid uncertainties surrounding US monetary policy and elevated regional market valuations.
New Straits Times
a day 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.
The Star
3 days ago
- Business
- The Star
Modest rebound seen for Bursa this week due to selective bargain hunting as Malaysia play host to Asean Summit
KUALA LUMPUR (Bernama: The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to see a modest rebound this week on continued bargain hunting after recent losses as Malaysia play host to the Asean Summit. Mohd Sedek Jantan, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research, said the recovery would likely be limited, driven by domestically focused sectors that stand to benefit from consumption-led growth and ongoing fiscal support. "However, in the absence of a fresh macro or policy catalyst, upside momentum may prove limited near the psychological resistance level of 1,555. Beyond this threshold, trading activity may taper as market participants reassess valuations and risk-reward dynamics," he told Bernama. For the week just ended, Bursa Malaysia rebounded from its six-day losing streak on Friday as bargain-hunting emerged to improve risk sentiment. On a Friday-to-Friday basis, the barometer index fell 36.37 points to 1,535.38 from 1,571.75 a week earlier. The FBM Emas Index dipped 271.99 points to 11,474.05, the FBMT 100 Index slipped 239.6 points to 11,233.10, and the FBM Emas Shariah Index declined 247.96 points to 11,426.22. The FBM 70 Index lost 352.15 points to 16,350.26, and the FBM ACE Index fell 149.92 points to 4,615.94. Across sectors, the Financial Services Index lost 385.07 points to 18,102.58, the Industrial Products and Services Index was 5.64 points easier at 154.04, and the Energy Index shed 18.61 points to 710.77. The Plantation Index shrank 55.28 points to 7,330.3, and the Healthcare Index gained 46.45 points to 1,833.89. Turnover eased to 14.05 billion units valued at RM11.28 billion from 14.98 billion units valued at RM12.68 billion in the preceding week. The Main Market volume fell to 7.14 billion units worth RM10.06 billion against 7.46 billion units worth RM11.37 billion. Warrant turnover was lower at 5.13 billion units worth RM645.54 million against 5.59 billion units worth RM703.66 million a week ago. The ACE Market volume narrowed to 1.78 billion units valued at RM563.52 million from 1.93 billion units valued at RM601.97 million. - Bernama
New Straits Times
5 days ago
- 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.
Barnama
5 days ago
- Business
- Barnama
Bursa Malaysia Snaps 6-day Losing Streak, Ci Up On Bargain Hunting
By Siti Radziah Hamzah KUALA LUMPUR, May 23 (Bernama) -- 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.
