FBM KLCI slips for second day amid mixed regional markets
The market barometer fell 8.14 points, or 0.53%, to 1,526.16. The index traded within a 13.48-point range, between an intraday high of 1,535.41 and a low of 1,521.93.
Stocks that fell outnumbered those that rose 575 to 338, with another 474 counters unchanged. A total of 2.6 billion shares changed hands, worth RM1.85bil.
On Bursa Malaysia, F&N led the decliners, slipping 30 sen to RM27, followed by Sime, down 27 sen to RM1.87, United Plantations, which eased 22 sen to RM22.78, and BLD Plantation , 20 sen lower at RM10.80.
Conversely, Nestle jumped RM1.90 to RM81.50, PETRONAS Dagangan added 70 sen to RM19.80, Kuala Lumpur Kepong rose 56 sen to RM20.36 and Hong Leong Industries gained 30 sen to RM13.78.
Stock market data showed that foreign investors sold a net RM61mil on Monday. Local institutions and retailers were net buyers, with RM54mil and RM7mil, respectively.
Meanwhile, the ringgit was quoted at 4.2382, up 0.46% against the US dollar.
Elsewhere in the region, Japan's Nikkei 225 rose 0.51%, Hong Kong's Hang Seng Index closed up 0.43%, South Korea's Kospi fell 0.27% and China's CSI 300 Index closed down 0.54%.
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New Straits Times
15 minutes ago
- New Straits Times
Bursa's key index closes flat with mixed performance across broader market
KUALA LUMPUR: Bursa Malaysia ended the session broadly flat today, reflecting a mixed sectoral performance across the broader market, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.2 points or 0.08 per cent to 1,550.19 from Thursday's close of 1,548.99. The index opened 1.75 points higher at 1,550.74. The broader market, however, was slightly positive with gainers outnumbering losers 489 to 466, while 509 counters were unchanged, 902 untraded and 22 suspended. Turnover stood at 3.4 billion units worth RM2.47 billion compared with Thursday's 5.09 billion units valued at RM2.94 billion. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the gains among benchmark constituents were led by consumer-related and industrial product counters. He told Business Times that the buying interest was supported by sustained domestic demand and growing optimism in data centre-related industries, a theme increasingly prominent in Malaysia's digital infrastructure ambitions. For the week, the FBM KLCI rose 1.2 per cent on a Friday-to-Friday basis. Sedek said trading activity moderated slightly as it returns to average turnover levels suggests investors are adopting a more measured stance as they await clearer policy signals and external developments. "Since June 26, foreign investors have resumed net buying of local equities, a constructive sign that reflects growing confidence in the country's macroeconomic trajectory and improving risk appetite for regional markets," he added. Given that the Bursa Malaysia Technology Index has rebounded by over 10 per cent since its recent low on June 23, he continues to view the sector favourably. This is supported by structural tailwinds from global tech investment and Malaysia's position within regional supply chain realignment. He said a dovish policy outlook from the US Federal Reserve also offers potential upside through valuation re-rating for growth and semiconductor-related counters. "We anticipate heightened caution and intermittent volatility ahead, as investors closely monitor the evolving landscape of global trade policy. "Particular attention is centred on the US' 'Liberation Day' deadline of July 9, when elevated tariffs, ranging from 20 per cent to 30 per cent, are expected to be reinstated on countries without formalised bilateral trade deals. "Malaysia, among others, may face renewed uncertainty should negotiations remain unresolved. "President Trump has indicated that official notifications outlining new tariff rates will be issued imminently to affected trade partners," he added.
The Star
3 hours ago
- The Star
FBM KLCI edges higher at midday as market recovers from early dip
KUALA LUMPUR: The local bourse staged a mild recovery by midday, with the FBM KLCI rebounding from early losses despite limited follow-through from Wall Street's record-setting performance. The FBM KLCI rebounded from earlier losses to rise two points, or 0.13%, to 1,550.99, after reaching an intramorning high of 1,551.78. Market breadth was mixed, with 411 gainers and 414 decliners, while 441 counters remained untraded. Trading volume stood at nearly two billion shares, valued at RM1.11 billion. Genting Plantations, the top gainer on Bursa Malaysia, rose 22 sen to RM5.23. Hong Leong Bank added 12 sen to RM19.70, Hong Leong Financial Group gained 10 sen to RM16.56 and Malaysian Pacific Industries climbed 10 sen to RM22.70. Among the losers, Nestle tumbled RM2 to RM78, Dutch Lady eased 46 sen to RM29.22, PETRONAS Dagangan lost 46 sen to RM21.50 and Westports fell 32 sen to RM5.48. TA Securities said the local market is likely to remain in a consolidation phase, weighed down by a lack of strong domestic catalysts and lingering uncertainty over a potential trade deal with the United States. 'Immediate index support is kept at 1,490, with stronger supports found at 1,465 followed by 1,444. 'Immediate resistance remains at 1,564 with next upside hurdles seen at the recent high of 1,586, followed by 1,610 ahead,' TA said. Meanwhile, Malacca Securities believes the local bourse may trade on a firmer footing for the session. This follows a positive lead from Wall Street, driven by sustained buying interest in tech stocks after the de-escalation of the US-Vietnam trade deal, along with the return of foreign funds over the past week. 'We anticipate the resumption of data center theme could lead to more positive trading activity within the technology and telco sectors, where Telekom Malaysia has recently experienced a breakout move,' it said. Malacca Securities said that for a more conservative play, it favours IGB REIT and Sunway REIT, citing active asset acquisitions and sustained interest in the sector.
New Straits Times
3 hours ago
- New Straits Times
Asian stocks retreat from recent peaks as US tariff deadline looms
SINGAPORE/HONG KONG: Stocks in emerging Asian economies pulled back on Friday from recent peaks, as market participants took a cautious stance ahead of US President Donald Trump's July 9 tariff deadline, while regional currencies dipped against a steady US dollar. An MSCI gauge of equities in emerging Asia slid nearly 1 per cent from a 3-1/2-year high notched in the previous session. Stocks in South Korea and Taiwan, which together make up over a third of the regional index, were the biggest drags on performance. Investors initially cheered trade discussions between the United States and Vietnam, hoping they could pave the way for breakthroughs in other emerging economies. But limited details and tariffs remaining above pre-April 2 levels dampened the optimism. "The trade deal with Vietnam announced this week was more hawkish than we expected, posing a risk that other countries could face higher tariff rates," Nomura analysts said in a note. South Korea's KOSPI fell 1.5 per cent after scaling a near four-year high in the previous session, marking its worst intraday drop since April 9. Taiwan's benchmark index slipped from a near four-month high. Stocks in the Philippines fell 0.7 per cent, while those in Singapore eased off from a record-closing high. Thai stocks also came off a three-week peak, snapping a four-session rally. Vietnam's benchmark index slipped from its April 2022 peak, while the dong weakened to a record low of 26,230 against the US dollar. Currencies in emerging Asia also nudged lower - Malaysia's ringgit slipped to an eight-session low, while the Indonesian rupiah and the Philippine peso shed around 0.2 per cent each. An index tracking global emerging market currencies retreated from a record high. "Asian currencies may face renewed volatility as markets turn their attention to tariff-related developments," said Lloyd Chan, senior currency analyst at MUFG. Citi analysts, referring to the US-Vietnam trade development, said that while the "de-dollarisation" narrative remained well-entrenched and had more steam to run further, "the roadblocks for stronger EM Asia FX had just increased". They predicted similar deals could impact currencies such as the Chinese yuan, ringgit, Thai baht, South Korea's won, and the Singapore dollar. On the day, the Singaporean dollar snapped a three-day losing streak to appreciate marginally, and remained a few points shy of its October 2014 high. The Thai baht and the Indian rupee weakened marginally. The US dollar index, which measures the greenback against a basket of major currencies, retraced some of its gains from Thursday.
