Bursa edges up as China trade data lifts sentiment, KLCI stays above 1,530
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 1.44 points, or 0.09 per cent, to 1,537.51 from Friday's close of 1,536.07.
The benchmark had opened 0.10 of a point lower at 1,535.97 and hovered between 1,533.93 and 1,538.33 throughout the session.
The market breadth was negative, with 514 decliners outpacing 432 gainers and 510 counters unchanged, while 962 were untraded and nine suspended.
Turnover declined to 2.93 billion shares worth RM1.67 billion, compared with 3.37 billion shares worth RM2.30 billion last Friday.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research, Mohd Sedek Jantan, said the key index's positive performance was underpinned by stronger-than-expected trade data from China, with exports rising 5.8 per cent year-on-year in June, well above the 3.6 per cent forecast.
'The data suggested that Chinese exporters were accelerating shipments ahead of the expiry of the 90-day tariff reprieve, providing some relief to global market sentiment and partially offsetting lingering concerns over Washington's tariff rhetoric,' he told Bernama.
Investors will also monitor more upcoming data from China, particularly June trade figures and the second-quarter gross domestic product (GDP). The Chinese government is due to release the economic data tomorrow.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market sentiment remains cautious amid ongoing concerns over US tariffs, with investors closely monitoring their implications for Asean economies and global supply chains.
'Nevertheless, the benchmark index is well supported above the 1,530 level. While commodity-related stocks saw some selling pressure, defensive and stable names in banking, consumer and utilities showed resilience,' he noted.
Thong anticipates the FBM KLCI to trend within the range of 1,530-1,560 for the week.
Among the heavyweight counters, Maybank gained three sen to RM9.72, while Public Bank and Tenaga Nasional rose two sen each to RM4.34 and RM13.98, respectively. CIMB and IHH Healthcare both edged up one sen to RM6.69 and RM6.59.
In active trade, NexG gained two sen to 47 sen, Wentel Engineering grew 1.5 sen to 33.5 sen, Malaysian Resources Corporation added half-a-sen to 54 sen, Zetrix AI was 1.5 sen lower at 98.5 sen, and Tanco was flat at 90.5 sen.
On the index board, the FBM Emas Index gained 14.88 points to 11,558.46, the FBMT 100 Index expanded 12.30 points to 11,321.04, and the FBM Emas Shariah Index added 8.13 points to 11,560.60.
The FBM 70 Index increased 25.85 points to 16,787.20, while the FBM ACE Index improved 33.35 points to 4,571.52.
By sector, the Financial Services Index gained 55.74 points to 17,663.87, the Industrial Products and Services Index shaved 0.22 points to 153.87, and the Plantation Index fell 16.35 points to 7,434.10. The Energy Index inched up 9.76 points to 747.38.
The Main Market volume retreated to 1.13 billion units worth RM1.35 billion from 1.36 billion units valued at RM1.99 billion last Friday.
Warrant turnover slipped to 1.46 billion units valued at RM208.01 million from 1.70 billion units worth RM203 million previously.
The ACE Market volume increased to 342.18 million units valued at RM113.55 million, versus 318.83 million units worth RM107.58 million on Friday.
Consumer products and services counters accounted for 171.70 million shares traded on the Main Market; industrial products and services (182.22 million), construction (82.17 million), technology (239.31 million), SPAC (nil), financial services (41.28 million), property (179.63 million), plantation (11.93 million), REITs (19.63 million), closed-end fund (22,800), energy (61.84 million), healthcare (54 million), telecommunications and media (30.31 million), transportation and logistics (21.68 million), utilities (34.41 million), and business trusts (18,500). — Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
2 hours ago
- The Star
FBM KLCI slips to intraday low; NationGate falls on MACC raid
KUALA LUMPUR: The FBM KLCI closed at its intraday low on Tuesday, underperforming regional peers as selling pressure and cautious sentiment weighed on the local market, despite broad gains across major Asian bourses. The FBM KLCI slipped 12.11 points, or 0.8%, to close at its intraday low of 1,525.40. It had earlier touched a high of 1,538.56. Today's decline marks the index's biggest drop since it fell 0.82% on July 7. Selling pressure persisted as 601 counters fell while 412 rose, bringing market breadth to 0.14. Decliners outpaced gainers, reflecting a cautious tone in the broader market. Traded volume stood at 3.1 billion shares valued at RM2.4bil. Among the decliners, Heineken slid 40 sen to RM24.50, Malaysian Pacific Industries fell 38 sen to RM20.40, F&N declined 28 sen t RM28.70 and Hong Leong Bank gave up 26 sen to RM19.30. Gainers included Riverview, which rose 15 sen to RM3.00, Master-Pack, which added 12 sen to RM3.15, United Plantations, which gained eight sen to RM21.70, and KPS Consortium , which climbed 7.5 sen to 56.5 sen. NationGate Holdings fell 12 sen, or 7.45%, to RM1.49 with 160.51 million shares traded, making it one of the most active counters on Bursa Malaysia. In a filing with Bursa Malaysia today, Nationgate announced that the Malaysian Anti-Corruption Commission (MACC) had raided the premises of one of its subsidiaries as part of an ongoing investigation into alleged scrap metal smuggling. Earlier in the day, it was reported that the MACC had launched a major operation targeting scrap metal smuggling syndicates across five states, with the illicit activities estimated to have caused over RM950mil in lost tax revenue. NationGate Holdings fell 12 sen, or 7.45%, to RM1.49 with 160.51 million shares traded, making it one of the most active counters on Bursa Malaysia. The Malaysian Anti-Corruption Commission (MACC) has conducted a raid at the premises of a subsidiary of Nationgate as part of an ongoing investigation into allegations of scrap metal smuggling, the company announced in a stock exchange filing today. It was reported earlier today that the MACC has launched a major crackdown on scrap metal smuggling syndicates in five states. These smuggling activities were reported to have resulted in an estimated tax revenue loss of over RM950mil. Meanwhile, the ringgit strengthened 0.29% against the US dollar to 4.2410, and rose 0.3% against the Singapore dollar to 3.3108. In contrast with the local bourse, regional markets ended higher. MSCI's Asia ex-Japan stock index was higher by 1.05%. Japan's Nikkei 225 rose 0.55%, South Korea's Kospi gained 0.41%, Hong Kong's Hang Seng climbed 1.6%, China's CSI 300 edged up 0.035%, and Singapore's Straits Times Index added 0.3%.
Free Malaysia Today
3 hours ago
- Free Malaysia Today
Bursa ends at intraday low on selective heavyweight selling
KUALA LUMPUR : Bursa Malaysia ended at an intraday low today due to persistent selling in selected heavyweights, led by the financial services and construction sectors. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Sedek Jantan said the FTSE Bursa Malaysia KLCI's (FBM KLCI) drop today reflected a cautious undertone among investors despite an improvement in broader market sentiment. 'Investor focus remains firmly on the progress of the US-Malaysia tariff negotiations, with the Aug 1 deadline for the imposition of a 25% import duty drawing near. 'The market appears to be factoring in a drawn-out negotiation process, contributing to prevailing risk aversion,' he told Bernama. Meanwhile, he said the investment, trade and industry ministry's (Miti) announcement on trade permit for artificial intelligence (AI) chips is a welcome step towards regulatory clarity, while persistent concerns over potential US export controls on AI chip shipments to Malaysia continue to cast a shadow over sentiment, particularly within the technology and semiconductor sectors. 'Nonetheless, from a medium to longer-term perspective, we see the strengthening of governance and compliance standards as a positive structural shift that may enhance Malaysia's competitive positioning within global value chains, potentially serving as a future catalyst for investor confidence,' he added. At 5pm, the FBM KLCI fell 12.11 points or 0.79% to 1,525.40 from yesterday's close of 1,537.51. Public Bank eased eight sen to RM4.26, Maybank slid seven sen to RM9.65 and Gamuda gave up 13 sen to RM4.96. These counters dragged the composite index down by 5.42 points. The benchmark index opened 1.45 points lower at 1,536.06 and hovered between 1,525.40 and 1,538.56 throughout the session. The market breadth was negative, with 601 decliners outpacing 412 gainers and 498 counters unchanged, while 918 were untraded and eight suspended. Turnover improved to 3.07 billion shares worth RM2.36 billion, compared with 2.93 billion shares worth RM1.67 billion yesterday. Among other heavyweight counters, CIMB reduced six sen to RM6.63, Hong Leong Bank lost 26 sen to RM19.30, Tenaga Nasional decreased eight sen to RM13.90, 99 Speed Mart added three sen to RM2.30 and Sunway rose four sen to RM4.92. In active trade, Zetrix AI was 5.5 sen lower at 93 sen, NationGate shed 12 sen to RM1.49, Dagang NeXchange weakened one sen to 30.5 sen, NexG gained 0.5 sen to 47.5 sen while Tanco was flat at 90.5 sen. On the index board, the FBM Emas Index declined 82.38 points to 11,476.08, the FBMT 100 Index sank 83.43 points to 11,237.61 and the FBM Emas Shariah Index fell 77.42 points to 11,483.18. The FBM 70 Index dropped 98.80 points to 16,688.40, while the FBM ACE Index improved 16.10 points to 4,587.62. By sector, the financial services index dipped 161.22 points to 17,502.65, the industrial products and services index shaved 0.48 of-a-point to 153.39 and the plantation index eased 15.68 points to 7,418.42. The energy index inched down 8.46 points to 738.92. The Main Market volume rebounded to 1.44 billion units worth RM2.07 billion from 1.13 billion units valued at RM1.35 billion yesterday. Warrants turnover slipped to 1.28 billion units valued at RM172.45 million from 1.46 billion units worth RM208.01 million previously. The ACE Market volume increased to 347.59 million units valued at RM122.67 million versus 342.18 million units worth RM113.55 million yesterday. Consumer products and services counters accounted for 171.02 million shares traded on the Main Market; industrial products and services (350.21 million), construction (107.34 million), technology (365.39 million), SPAC (nil), financial services (54.91 million), property (134.33 million), plantation (13.85 million), REITs (28.72 million), closed-end fund (3,400), energy (69.98 million), healthcare (50.38 million), telecommunications and media (30.08 million), transportation and logistics (37.56 million), utilities (28.22 million), and business trusts (24,300).
Free Malaysia Today
3 hours ago
- Free Malaysia Today
Ringgit strengthens as China economic data boosts sentiment
KUALA LUMPUR : The ringgit ended higher against the US dollar at the close today as market sentiment improved on the back of better-than-expected economic data from China. News that Nvidia can resume microchip sales to China also suggested that US tariff shocks could be managed, further lifting sentiments. SPI Asset Management managing partner Stephen Innes said the ringgit 'caught a gentle tailwind' after China's second quarter gross domestic product surprised to the upside, which is a regional morale boost driven not by American demand, but by 'China's resilience in non-US export lanes'. 'It's a reminder that Asean currencies, particularly the ringgit, can still find traction when Beijing's supply engine hums and its trade compass pivots south and east rather than west,' he added. Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid agreed that external factors had driven the ringgit and other currencies to a stronger level today. At 6pm, the local note rose to 4.2395/4.2440 from Monday's close of 4.2505/4.2560. At the close, the ringgit traded higher against a basket of major currencies. It strengthened against the British pound to 5.7047/5.7107 from 5.7305/5.7379, improved against the Japanese yen to 2.8702/2.8734 from 2.8858/2.8897 and was up versus the euro at 4.9539/4.9591 from 4.9693/4.9757. The local note also trended higher against Asean currencies. It traded higher vis-à-vis the Singapore dollar at 3.3095/3.3133 from 3.3184/3.3229 yesterday, improved against the Indonesian rupiah to 260.6/261 from 261.5/262 and strengthened versus the Philippine peso to 7.47/7.49 from 7.50/7.51. It gained against the Thai baht to 13.0784/13.0988 from 13.1213/13.1439.
