
Bursa Malaysia opens flat in cautious trade
At 9.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 3.22 points to 1,522.64 from last Friday's close of 1,525.86. The benchmark index was 0.60 of a point better at 1,526.46 at the opening bell.
Turnover stood at 266.08 million shares worth RM171.57 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Wall Street closed lower last Friday as US markets took a breather following a decent performance for the week.
"Back home, the FBM KLCI maintained its stability to end positively (last week) amid continuous buying support by local institutions. For today, we expect bargain hunting to persist and expect the index to trend within the 1,520-1,530 range," he told Bernama.
Among the heavyweight counters, Maybank rose five sen to RM9.57, Public Bank and IHH lost one sen each to RM4.30 and RM6.56, respectively, while TNB and CIMB were both unchanged at RM13.78 and RM5.51.
Active counters were led by Nexg, which added one sen to 50.5 sen, followed by Pharmaniaga and Silver Ridge, both accumulating three sen to 18.5 sen and 23 sen respectively, while TWL was flat at 2.5 sen.
On the broader index board, the FBM Emas Index erased 32.39 points to 11,447.44, the FBMT 100 Index removed 31.72 points to 11,209.97, and the FBM Emas Shariah Index declined 56.33 points to 11,481.54.
The FBM 70 Index went down 82.02 points to 16,615.70, while the FBM ACE Index trimmed 18.82 points to 4,652.97.
By sector, the Financial Services Index put on 21.27 points to 17,376.11, the Energy Index edged down 0.73 of a point to 738.40, and the Plantation Index slipped 7.03 points to 7,434.86. The Industrial Products and Services Index shed 1.90 points to 153.48.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Barnama
an hour ago
- Barnama
'Turun Anwar' Rally Proves Opposition Running Out Of Ideas
KUALA LUMPUR, July 24 (Bernama) -- The 'Turun Anwar' rally this Saturday is the culmination of Perikatan Nasional (PN)'s mental block to present ideas as an alternative to the alleged accusation that the "government has failed to manage the economy". Political Secretary to Finance Minister Muhammad Kamil Abdul Munim said current figures and reports showed that the country's economy is recovering and growing consistently, thus burying their baseless claims. "Growth, inflation, unemployment rates, investment volumes are being demonised because of hatred and greed. "This is clear evidence of how they have failed to argue and propose alternatives to the various good policies that we have translated," said the Angkatan Muda Keadlilan (AMK) chief in a tweet on X today. He said while the country's leaders are working hard to develop the country, the opposition has chosen the path of fighting, and even to this day they have failed to present a candidate to replace Prime Minister Datuk Seri Anwar Ibrahim. However, Muhammad Kamil said the MADANI government upholds freedom, especially to assemble peacefully, while informing that the prime minister has given assurances that there will be no intimidation from the authorities. "However, demonstrating just to hate Anwar Ibrahim physically shows how weak, shallow and inept their politics are in the face of our agility in translating the wishes and desires of the people now," said Kamil. -- BERNAMA

Barnama
an hour ago
- Barnama
Ringgit Ends Higher Against US Dollar, Other Major Currencies On Malaysia-US Trade Deal Optimism
By Fatin Umairah Abdul Hamid KUALA LUMPUR, July 24 (Bernama) -- The ringgit ended higher against the US dollar, buoyed by optimism that Malaysia could secure a more favourable trade deal with the United States (US), said an analyst. The local note also traded higher versus the US dollar for the fifth consecutive day. At 6 pm, the ringgit rose to 4.2135/2210 against the greenback from Wednesday's close of 4.2255/2300. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said Malaysia is actively engaging in discussions with the US over the impending 25 per cent tariff rate set to take effect on Aug 1, aiming to secure a rate below 20 per cent. SPI Asset Management managing partner Stephen Innes said regional tailwinds further lifted sentiment after US President Donald Trump concluded a trade deal with Japan on Tuesday, which included reducing tariffs on the import of Japanese goods into the US to 15 per cent from 25 per cent. 'These developments are fuelling hopes that Washington's broader tariff strategy is shifting from confrontation to compromise. 'Against this backdrop, investors see Malaysia as a likely beneficiary of the next wave of bilateral deals,' he told Bernama. Innes added that the ringgit's recent gains may signal its potential to benefit from improved trade conditions following the US-Japan agreement.

Barnama
an hour ago
- Barnama
ASEAN Must Speed Up Its Integration Amid Global Trade Headwinds -- Tengku Zafrul
BUSINESS KUALA LUMPUR, July 24 (Bernama) -- ASEAN must step forward together and speed up its integration to reduce trade friction among its members amid global trade uncertainties, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz. He said a united ASEAN that speaks clearly with aligned standards and defends its common interests as the world navigates a challenging global trade environment will be far more resilient and influential. "The global operating landscape is no longer as cooperative as it once was. The more reason why ASEAN must step forward together because a fragmented ASEAN weakens all of us. So we must speed up our internal integration, we must reduce trade friction, harmonise standards, and build rules-based systems that connect our markets and protect our value chains," he said during his keynote address at the ASEAN Corporate Governance Conference and Awards 2025 dinner tonight. According to Tengku Zafrul, the real drivers of business sentiment and commercial confidence in every country lie in the corporate governance and sustainability efforts of companies. "When investors look at ASEAN, they are not just looking at the growth numbers, they are also looking at governance issues, rule of law, as well as climate disclosure, and maybe labour standards. "They compare how companies manage risks, uphold ethics, and also how they treat their stakeholders. So this is where we must lead, not as individual policy makers and companies in individual countries, but as a region that collectively values integrity, transparency, as well as long-term stability," he added. To this end, Tengku Zafrul also highlighted that corporate governance and sustainability are no longer seen as checkbox exercises but as strategic levers for trust, reputation, risk management, and capital raising. He noted that governance and sustainability are strategic imperatives that shape confidence in a nation's institutions, enabling equitable prosperity and 'defining our values as a region.' "So in this sense, governance must be front and centre to position ASEAN as a viable and investable asset class. In a time of global uncertainty, it is guiding ASEAN to rebuild and to rise with greater purpose and unity," he concluded.