Bursa Malaysia rises on growing geopolitical stability
On Monday, the domestic benchmark index leapt 5.25 points higher to 1,533.41, continuing the positive momemntum that had taken root last week.
According to TA Securities, the de-escalation in the Israel-Iran conflict is expected to further bolster market sentiment, although gains could be tempered as investors price in revisions to the sales and service tax and electricity tariffs due to come into effect on July 1.
"Immediate resistance remains at 1,564 with next upside hurdles coming from the recent high of 1,586, followed by 1,610 ahead. Immediate index
support is kept at 1,490, with stronger supports found at 1,465 followed by 1,444," said the research firm in its market commentary.
Among the blue chips, there was was buying interest in Nestle, rising RM1.38 to RM78.86, Tenaga Nasional gaining 20 sen to RM14.46 and Press Metal climbing nine sen to RM5.10.
Other notable gainers on the broader market included Frontken jumping 12 sen to RM4.04, United Plantations adding 20 sen to RM21.90 and MPI rising 48 sen to RM21.22.
Of actives, EA Holdings was up 0.5 sen to one sen, Nexgram was flat at 1.5 sen and NexG gained 0.5 sen to 36.5 sen.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
3 hours ago
- The Star
U.S. trade policy remains concerning for Malaysia's technology sector: analysts
KUALA LUMPUR, July 1 (Xinhua) -- While global semiconductor sales for 2025 are expected to continue to grow, analysts remained cautious about outlook for Malaysia's technology sector due to prevailing uncertainties surrounding U.S. trade policy. TA Securities said in its recent note that should the U.S. implement sector-specific tariffs on semiconductor imports, it could materially impact end-market demand and Malaysian technology corporate earnings. According to the research house, heading into the second half, there are three major factors that could potentially influence the sector's earnings, U.S. policies; global semiconductor sales; progress of Malaysia's National Semiconductor Strategy. "Should the U.S. administration proceed with imposing tariffs on semiconductor imports, it could severely disrupt the global supply chain and dampen end-user demand," the research house said. Hence, it believed the policy risk will likely persist in the coming months, potentially leading to delays in orders and capital expenditure plans as corporates adopt a more conservative approach in response to the lack of policy visibility. Meanwhile, TA Securities noted that the global semiconductor market was still undergoing an upcycle, with positive momentum expected to continue into the second half.
New Straits Times
8 hours ago
- New Straits Times
Powerwell accepts RM16.6mil switchboard orders for hyperscale data centre project
KUALA LUMPUR: Powerwell Holdings Bhd has accepted purchase orders (POs) worth RM16.63 million to supply switchboards and components for a hyperscale data centre project at Elmina Business Park, Selangor. In a filing with Bursa Malaysia today, the electrical products manufacturer said its wholly-owned subsidiary, Kejuruteraan Powerwell Sdn Bhd, received the POs from RYBE Engineering (M) Sdn Bhd, Protech Builders Sdn Bhd, and LFE Engineering Sdn Bhd. Powerwell said the POs, accepted between April and July this year, are expected to be fulfilled by the first quarter of 2026. "The POs are expected to contribute positively to Powerwell's consolidated earnings and net assets for the financial year ending March 31, 2026," it said. Powerwell added that it does not foresee any exceptional risks apart from normal operational risks associated with POs and will take steps to mitigate these risks. In a separate statement, Powerwell managing director Catherine Wong Yoke Yen said the orders reflected the group's technical capability in delivering data centre projects. "We are delighted to have secured these orders, which reflect our strong technical expertise and proven track record, having completed numerous data centre projects for multinational corporations," she said. Wong added that the company's outstanding order book as of end-March 2025 was about RM116 million, excluding the latest POs. -- BERNAMA
![MARKET PULSE PM JULY 1, 2025 [WATCH]](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2FHQ20250520EZ_%25282%2529_%25282%2529_1751367620.jpg&w=3840&q=100)
New Straits Times
9 hours ago
- New Straits Times
MARKET PULSE PM JULY 1, 2025 [WATCH]
KUALA LUMPUR: News on stock, crypto and ringgit moves. Bursa Malaysia ended higher for the fourth consecutive session, buoyed by renewed foreign buying and stronger domestic macroeconomic indicators. The benchmark index rose 0.56pct to close at 1,541. Meanwhile, the ringgit strengthened against the US dollar, ending the day at 4.1915. In the cryptocurrency space, market sentiment remained volatile, with Bitcoin trading lower at RM448,967, while Ethereum slipped to RM10,332. According to analysts, the data and sentiment indicators suggest a neutral stance toward risk-on assets like equities and crypto, as investors appear to be holding off ahead of the release of June's economic data. That wraps up today's Market Pulse.
