Bursa Malaysia closes mixed
The power utility company closed 58 sen or 3.97% lower at RM14.02, contributing a total of 5.80 points towards the benchmark index's decline, with 33.31 million shares traded.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped by 1.22 points, or 0.08 per cent, to 1,548.99 from Wednesday's close of 1,550.21.
The benchmark index opened 4.07 points lower at 1,546.14 and hovered between 1,540.35 and 1,548.99 throughout the day.
The broader market was broadly positive with 629 gainers trouncing 389 decliners, while 468 counters were unchanged, 902 untraded and 11 suspended.
Turnover rose to 5.09 billion units worth RM2.94 bil against 3.11 billion units worth RM2.38 bil on Wednesday. – July 3, 2025
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New Straits Times
2 hours ago
- New Straits Times
MARKET PULSE AM JULY 4, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Bursa Malaysia opened slightly higher on Friday, rebounding from the previous day's losses as renewed buying interest in selected heavyweights offset mixed sentiment across regional markets. The benchmark index dipped just below the 1,550 mark yesterday, likely due to profit-taking activities. However, strong support was evident around this level, backed by a surge in trading volume that exceeded five billion shares. As such, the FBM KLCI is expected to hover within the range of 1,545 to 1,555 points today. In the crypto market, Bitcoin climbed to RM459,420. Ethereum rose to RM10,886, while Solana was up at RM640. That's it for Market Pulse.
The Star
2 hours ago
- The Star
FBM KLCI slips marginally in early trade as Wall Street hits consecutive records
KUALA LUMPUR: Despite a second consecutive day of record gains on Wall Street, the positive momentum failed to lift the local market, with the FBM KLCI slipping marginally in early trade. Overnight, the S&P 500 gained 0.83% to 6,279.36, while the Nasdaq Composite advanced 1.02% to 20,601.10. The Dow Jones Industrial Average rose 0.77% to 44,828.53. The benchmark FBM KLCI opened 1.75 points higher at 1,550.74 but later declined by 0.4 of a point, or 0.03%, to 1,548.59 as of 9.19 am. Berjaya Research Sdn Bhd said the underlying tone remains firm despite yesterday's retreat and the FBM KLCI's failure to clear the psychological 1,550 level, supported by continued foreign institutional buying and a general increase in market interest. The research house noted that increased participation is helping to bolster market sentiment, and there remains value in key index components, attracting bargain hunters as they continue to trade below their historical forward averages. 'With the sanguine undertone, coupled with key overseas equity indices making further headway, the positivity remains on the key index that could allow it to retest the 1,550 level again. 'Above, the targets remain at the 1,552-1,556 levels, followed by the 1,561 level. The supports, meanwhile, are at the 1,542-1,545 levels and at 1,540 points respectively,' Berjaya Research said. 'We also think the broader market shares could end the week on a high, helped by the improved sentiments that are encouraging increased buying of some of the lower liner sector leaders.' Meanwhile, Rakuten Trade said that the FBM KLCI fell slightly below the 1,550 level yesterday, likely due to some profit-taking activities. 'Nonetheless, we noticed strong support around this level, backed by a spike in trading volume exceeding five billion shares. Thus, we expect the index to hover within the 1,545 to 1,555 range today,' it said. Among the decliners on Bursa Malaysia, Malaysian Pacific Industries slid 36 sen to RM22.24, Westports lost 23 sen to RM5.57, PETRONAS Dagangan eased 16 sen to RM21.80, and Timberwell fell 14.5 sen to 24.5 sen. On the gainers' side, F&N rose 18 sen to RM19.18, United Plantations gained 12 sen to RM22.00, Hong Leong Financial Group added 10 sen to RM16.56, and BAT climbed eight sen to RM4.89.
The Star
2 hours ago
- The Star
Sentiment likely to improve in second half
CGSI Research has put its year-end-2025 FBM KLCI target at 1,670 points. PETALING JAYA: After a tumultuous first half triggered by external headwinds, one research house sees the market staging a comeback in the second half of 2025 (2H25), albeit with volatility. CGS International (CGSI) Research said that it sees US tariff tensions ebbing in 2H25, although it remained cognisant that bouts of escalations could still sprout within the broader de-escalating trend. 'As tariff negotiations between Malaysia and the United States appear to be progressing well, we are cautiously optimistic that a mutually beneficial outcome can be achieved,' it told clients in a report. It said given their record low shareholding, it reckons foreign investors have yet to fully appreciate Malaysia's ongoing rejuvenation – which is already seeing economic reforms in motion, influx of approved investments and a more stable political landscape. CGSI Research has put its year-end-2025 FBM KLCI target at 1,670 points, premised on a 15 times price earnings (P/E) tagged to the 2025 earnings per share. 'Our ascribed P/E multiple is in line with its post-pandemic average,' the research house said. 'Rock-bottom foreign shareholding offers a downside cushion, we opine.' CGSI Research said the ongoing tariff woes will still have an impact on Malaysia's open economy. Its 2025 gross domestic product forecast of 4.2% year-on-year (y-o-y) is below the government's 4.5% to 5.5% projection. 'Still, we get a sense that this has not deterred the unity government from its economic reform agenda. Revisions to the sales and service tax were done twice (in March 2024 and July 2025) to broaden the public revenue base, while subsidy rationalisation efforts are ongoing.' The research house also noted that the government has developed various strategic plans, which have helped boost approved investments in Malaysia to new record highs. 'In our view, this has started to bear fruit, evident from the robust growth in gross fixed capital formation averaging 11.6% y-o-y from the first quarter of 2024 (1Q24) to 1Q25. Malaysia's political landscape is also now on firmer ground with Prime Minister Datuk Seri Anwar Ibrahim and his government outlasting the past three administrations, alongside a rise in approval ratings.' CGSI Research noted in 1H25, the benchmark FBM KLCI declined by 6.7% with the losses largely cushioned by the ringgit's 6.2% appreciation, bringing its currency adjusted returns to a slight dip of 0.9% over the said period. Nevertheless, the latter still lagged the regional MSCI AC Asean Index which gained 3.4% in 1H25, mostly aided by Singapore's stock market benchmark index.
