Bursa stages rebound to close at intra-day high on late bargain hunting
At 5 pm, the FBM KLCI bounced 10.39 points, or 0.68 per cent, to close at an intra-day high of 1,529.79 from yesterday's close of 1,519.40.
The benchmark index opened 0.08 of a point higher at 1,519.56 and moved between 1,519.48 and 1,529.79 throughout the trading session.
Gainers led losers in the broader market 627 to 387, while 496 counters were unchanged and 969 untraded, with seven suspended.
Turnover jumped to 3.27 bil shares worth RM2.26 bil from 2.82 bil shares worth RM2.05 bil on Tuesday. —July 23, 2025
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
29 minutes ago
- The Star
Muted 2Q earnings likely
PETALING JAYA: Malaysia's upcoming second-quarter of financial year 2025 (2Q25) earnings season is expected to be relatively muted, with overall corporate performance continuing to reflect challenges from external uncertainties, particularly the ongoing US-Malaysia tariff negotiations. While earnings growth may remain soft, the reporting cycle begins against a backdrop of stabilising macroeconomic indicators and fewer forecast revisions compared to the previous quarter. As such, Maybank Investment Bank Research (Maybank IB) believes the worst of the earnings downgrades may now be behind. 'The 2Q25 results season may yet be another unexciting one but at least one with fewer earnings downgrades in our view,' the research house said in its latest strategy note. Maybank IB has forecast a modest 2.5% earnings growth for the FBM KLCI in 2025, primarily weighed down by the banking sector. It anticipates a stronger rebound in 2026 with a projected growth of 7.7%. The research house's base case target for the FBM KLCI stands at 1,660, pegged to 14.4 times 2026 estimated price-to-earnings ratio (PER), representing minus 0.5 standard deviation of the 10-year mean, amid continued market volatility and uncertainty over trade policy. 'Our base case assumes further de-escalation in trade tensions and favourable outcome from tariff negotiations,' the report noted. Conversely, in a bearish scenario where earnings growth moderates to 5%, the index could dip to 1,450 based on 13 times PER. Despite a softer external environment, Malaysia's domestic economic fundamentals appear encouraging. The research house points to robust consumer activity, a sustained investment cycle, and signs of resilient private demand as cushioning the impact of weaker exports, particularly in May and June. 'The 2Q25 real gross domestic product growth advanced estimate of 4.5% year-on-year, with a rebound quarter-on-quarter from 4.4% in 1Q25, suggests a steady growth momentum and indicates external headwinds due to US tariffs are being mitigated by domestic tailwinds,' it said. Inflation has also cooled to 1.1% in June, while the labour market remains firm with the unemployment rate steady at 3%. Maybank IB attributed rising disposable incomes – fuelled by civil servant pay hikes, minimum wage increases, and a surge in Employee Provident Fund contributions – as supportive of its positive stance on the consumer, real estate investment trusts (REITs), and construction sectors. Sector-wise, consumer, construction, healthcare, REITs, and renewable energy remain Maybank IB's key 'overweights', with minimal changes to its top stock picks apart from Solarvest Holdings Bhd , which has outpaced its target price. 'We expect some positive momentum for construction, healthcare, property and, more selectively, the oil and gas and utilities sectors,' the research house added. The technology sector may face near-term weakness, but Maybank IB noted that most of the necessary earnings downgrades have already been made. 'From our channel checks, we expect most sectors are likely to deliver flattish earnings with few surprises,' it said. Notably, while plantation firms may post weaker quarterly numbers due to lower crude palm oil prices, some could benefit from disposal gains and foreign exchange tailwinds. The recent 25 basis points cut to the overnight policy rate, announced in July, is expected to have a limited impact on second-quarter bank earnings. 'We had already factored this rate cut into our bank forecasts; we stay 'neutral' on banks,' Maybank IB stated.
The Star
2 hours ago
- The Star
Higher 2Q net profit for UOA-REIT
PETALING JAYA: UOA Real Estate Investment Trust (UOA-REIT) expects the demand for office space to continue to improve gradually. In a filing with Bursa Malaysia, the REIT said its completed asset enhancement initiatives would help to generate interest in older buildings in its portfolio, while the initiatives continue into financial year 2025. For its second quarter ended June 30, 2025, UOA-REIT's net profit rose to RM10.89mil from RM8.1mil in the previous corresponding period, while revenue improved to RM30.09mil from RM27.75mil a year earlier. UOA-REIT said gross rental income during the quarter had increased by 9%, driven by improved occupancies. 'The increase in total expenditure was mainly due to increase in property operating expenses. The higher property operating expenses were primarily due to the increase in maintenance costs.'
Free Malaysia Today
7 hours ago
- Free Malaysia Today
Bursa edges up as value seekers drive selective accumulation
KUALA LUMPUR : Bursa Malaysia opened marginally higher today, supported by value-seeking investors engaging in selective accumulation. At 9.06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.63 of a point to 1,520.03 from yesterday's close of 1,519.40. At the opening bell, the benchmark index was 0.08 of a point higher at 1,519.48. Turnover stood at 126.93 million shares, valued at RM68.23 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI closed lower yesterday in tandem with the weak regional performance. 'However, we expect value-seeking investors to continue supporting the market through selective accumulation. Hence, we anticipate the benchmark index to consolidate within the 1,510–1,520 range today,' he added. On the global front, Thong said Wall Street closed mixed, with the S&P 500 hitting another record high at 6,309.62 (+0.06%) as investors digested a new batch of earnings, including a tariff warning from General Motors. The Dow rose 0.4%, while the Nasdaq slipped 0.39% ahead of key earnings reports from major tech giants. Among the heavyweight counters, Maybank added four sen to RM9.57, Tenaga Nasional was two sen better at RM13.80, CIMB improved one sen to RM6.56, Public Bank lost three sen to RM4.28, while CelcomDigi and Press Metal were flat at RM3.79 and RM5.21, respectively. Active counters were led by NexG, followed by Enproserve, with both accumulating 1.5 sen each to 52 sen and 28 sen, respectively. PRG advanced half-a-sen to 9.5 sen, Eco-Shop added one sen to RM1.32, while EA Holdings was down half-a-sen to half-a-sen. On the broader index board, the FBM Emas Index was 13.04 points higher at 11,432.77, the FBMT 100 Index rose 10.54 points to 11,192.48, and the FBM Emas Shariah Index was up 7.64 points to 11,454.99. The FBM 70 Index gained 41.42 points to 16,597.29, while the FBM ACE Index trimmed 7.19 points to 4,617.41. By sector, the Financial Services Index put on 36.2 points to 17,346.87, the Energy Index edged down 0.46 of a point to 739.71, and the Plantation Index improved 12.40 points to 7,408.55. The Industrial Products and Services Index rose 0.11 of a point to 154.15.
