Strong ACE debut for Signature Alliance
The interior fit-out firm opened at 68 sen, above its IPO price of 62 sen, and climbed to an intraday high of 69.5 sen. As of 9.15am, the stock was trading at 67 sen, an 8 per cent premium, with more than 35 million shares changing hands.
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Free Malaysia Today
3 days ago
- Free Malaysia Today
Wall Street futures mixed as investors weigh Alphabet, Tesla earnings
The S&P 500 and Nasdaq surged to fresh records as reports of a trade deal between the EU and the US boosted risk sentiment. (EPA Images pic) NEW YORK : US stock index futures were mixed today as investors assessed earnings from Alphabet and Tesla while focusing on progress in trade deals between the US and its top partners. Google-parent Alphabet raised its capital spending plans for the year to about US$85 billion and predicted a further increase next year, shrugging off uncertainties from US trade policy. Its shares rose 3.5% premarket. Electric carmaker Tesla, however, painted a gloomy picture, with CEO Elon Musk warning that reduced government support for EV makers could lead to a 'few rough quarters' for the company. Its stock dropped 5%. By 5.57am, S&P 500 E-minis were up 7.75 points, or 0.12%, and Nasdaq 100 E-minis were up 85.25 points, or 0.37%. Dow E-minis were down 136 points, or 0.3%. The blue-chip yesterday came just shy of surpassing its all-time highs touched in December. The benchmark S&P 500 and the tech-heavy Nasdaq surged to fresh records as reports of an imminent trade deal between the EU and the US boosted risk sentiment. Diplomats said the deal would result in 15% import tariffs on the bloc. Additionally, President Donald Trump's announcement of a deal with Japan has also aided investor sentiment this week. The pact includes slashing tariffs on goods from the Asian country to 15%. With the Aug 1 deadline just a week away, investors expect a flurry of more trade negotiations, given that China and South Korea are also seeking deals to avoid Trump's hefty duties. Amid escalating tensions between the Trump administration and the Federal Reserve (Fed), the president will visit the central bank later in the day. Trump has been persistently attacking Fed chair Jerome Powell for not cutting rates and mused publicly about firing him. The central bank holds its monetary policy meeting next week, with markets widely expecting policymakers to leave interest rates unchanged. Traders see a 62.2% likelihood of a cut in September, according to the CME Group's FedWatch tool. Later in the day, investors will parse weekly jobless claims and S&P Global's flash PMI data to examine the health of the economy amid tariff uncertainties. Among other earnings-related moves, IBM slid 5.25% as its second-quarter earnings failed to impress investors, especially due to its lower-than-expected sales in its mainstay software segment. Shares of ServiceNow jumped 7.1% after the software firm raised its annual subscription revenue forecast.
The Star
3 days ago
- The Star
FBM KLCI closes at intra-day high for second session as investors regain risk appetite
KUALA LUMPUR: Bursa Malaysia finished at its intra-day high for the second straight session on Thursday, driven by global optimism and the latest round of government fiscal aid that led investors to be back in the local market. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 10.53 points, or 0.69 per cent, to close at an intra-day high of 1,540.32, compared to Wednesday's close of 1,529.79. The index opened 1.26 points higher at 1,531.05 and moved between 1,529.71 and 1,540.32 throughout the trading session. Gainers led losers in the broader market 502 to 474, while 496 counters were unchanged and 1,044 untraded, with seven suspended. Turnover, however, slipped to 2.97 billion shares worth RM2.3 billion from 3.27 billion shares worth RM2.26 billion on Wednesday. SPI Asset Management managing partner Stephen Innes said the FBM KLCI traded firmer buoyed by hopes that the worst of the tariff storm may be behind as the United States (US)-Japan deal, inked at 15 per cent, has the market betting that other trading partners, including Malaysia could secure similar outcomes, potentially keeping tariffs below the 20 per cent mark. On the index board, the FBM Emas Index climbed 56.63 points to 11,551.17, the FBMT 100 Index rose 60.40 points to 11,314.56, and the FBM Emas Shariah Index advanced 64.48 points to 11,580.96. The FBM 70 Index added 14.78 points to 16,658.87, while the FBM ACE Index lost 22.54 points to 4,642.51. Sector-wise, the Industrial Products and Services Index rose 2.73 points to 158.16, the Plantation Index gained 58.52 points to 7,469.96, the Financial Services Index jumped 75.33 points to 17,505.58, but the Energy Index fell 4.50 points to 738.68. The Main Market volume narrowed to 1.37 billion units valued at RM1.96 billion from 1.44 billion units valued at RM1.89 billion. Warrant turnover trimmed to 1.24 billion units worth RM207.50 million from 1.52 billion units worth RM257.66 million previously. The ACE Market volume improved to 362.14 million units worth RM131.90 million from 315.55 million units valued at RM97.33 million previously. Consumer products and services counters accounted for 220.6 million shares traded on the Main Market; industrial products and services (278.27 million), construction (97.53 million), technology (261.82 million), SPAC (nil), financial services (61.28 million), property (177.63 million), plantation (14.89 million), REITs (22.3 million), closed-end fund (nil), energy (64.42 million), healthcare (57.49 million), telecommunications and media (40.4 million), transportation and logistics (28.64 million), utilities (42.42 million), and business trusts (62,600). - Bernama
The Star
6 days ago
- The Star
Oxford Innotech's IPO oversubscribed
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