FBM KLCI rises for second day amid trade uncertainty
Adding to the cautious mood were ongoing uncertainties over global trade developments and a mixed performance across key regional markets.
The 30-stock index closed up 2.78 points, or 0.18% at 1,526.62. The market traded within a range of 5.5 points between an intra-day high of 1,528.72 and a low of 1,523.22 during the session.
Market breadth turned negative as losers overpowered the gainers on a ratio of 500-to-379 stocks. Traded volumes stood at 2.73 billion shares worth RM2.1bil.
Nestle jumped 82 sen to RM76.38, PETRONAS Gas added 38 sen to RM18.08, Dutch Lady advanced 18 sen to RM29.68 and Carlsberg climbed 16 sen to RM19.62.
Among the decliners, F&N fell 24 sen to RM28.20, LPI Capital slid 20 sen to RM14.32, Heineken gave up 14 sen to RM27.18 and Hong Leong Industries declined 12 sen to RM13.50.
Among the banks, Maybank added seven sen to RM9.77, Public Bank fell two sen to RM4.29 and CIMB declined one sen to RM6.89.
RHB Bank gained one sen to RM6.39 while Hong Leong Bank rose 12 sen to RM19.64.
Meanwhile, the ringgit strengthened 0.16% against the US dollar to 4.2290, tracking the greenback's decline amid renewed expectations of interest rate cuts by the US Federal Reserve and lingering uncertainty over global trade developments.
However, the local currency weakened against several other major currencies. It fell 0.72% against the euro to 4.8784, dropped 0.28% against the British pound to 5.7348, and eased 0.22% against the Singapore dollar to 3.3005.
Reuters reported that the US dollar slid to a seven-week low as markets priced in potential Fed rate cuts by year-end, with investors increasingly uncertain about the outlook for global trade.
On the external front, regional markets were mixed. Japan's Nikkei 225 slipped 0.65% to 38,173.09, while South Korea's Kospi gained 0.45% to close at 2,920.03.
Hong Kong's Hang Seng Index declined 1.36% to 24,035.38. In China, the CSI 300 index edged down 0.06% to 3,892.20, while the Shanghai Composite inched up 0.01% to 3,402.66.
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Free Malaysia Today
7 hours ago
- Free Malaysia Today
Late selling drags Bursa to intraday low ahead of 13MP
KUALA LUMPUR : Bursa Malaysia ended at its intraday low today, pressured by late selling as investors positioned themselves ahead of the 13th Malaysia Plan (13MP) announcement on Thursday. Apart from that, investors are awaiting fresh catalysts from the outcome of the US federal open market committee (FOMC) meeting scheduled on July 29-30, amid ongoing US-China trade talks in Stockholm. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Sedek Jantan said investors appear to be positioning their portfolios/strategies ahead of potential domestic fiscal support, especially if external trade conditions deteriorate. 'The 13MP, to be unveiled in Parliament on Thursday under the Madani framework, will reinforce the government's pro-growth trajectory, with a strong emphasis on infrastructure and industrial development,' he told Bernama. Sedek said the FTSE Bursa Malaysia KLCI (FBM KLCI) closed lower today as sentiment turned increasingly cautious ahead of key global policy events. He said market focus is now on the FOMC meeting as it is expected that the Federal Reserve (Fed) will leave rates unchanged, and the committee's forward guidance will be more closely scrutinised. 'In light of reduced tariff uncertainty from recent trade deals, Fed chairman Jerome Powell may choose to maintain flexibility for a September move. 'Markets appear to be pricing in this optionality, while remaining highly sensitive to the interplay between global policy risk and domestic macroeconomic resilience,' he said. He further noted that the positive signals from the US-China trade talks in Stockholm further buoyed market sentiment. 'The meeting between US Treasury secretary Scott Bessent and Chinese vice-premier He Lifeng, which focussed on addressing global economic imbalances, was seen as a constructive step ahead of the Aug 1 tariff deadline, helping to reduce geopolitical risk premiums. 'As such, investor reaction remains more measured, perhaps reflecting increased confidence in diplomatic engagement or reduced expectations of immediate escalation,' he noted. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng anticipates the local index to remain cautious as underlying sentiment continues to be weighed down by external uncertainties and inconsistent fund flows. 'With lingering concerns over global trade developments, monetary policy shifts, and foreign fund outflows, the broader outlook remains fragile. 'As such, we maintain our weekly FBM KLCI target at 1,510-1,540,' said Thong. At 5pm, the FBM KLCI fell 5.56 points, or 0.36%, to close at 1,523.82 from yesterday's close of 1,529.38. The benchmark index opened 0.20 of-a-point firmer at 1,529.58 and subsequently hit its highest level of 1,537.62 in early trade before trending downward for the rest of the day. In the broader market, losers led gainers 603 to 365, while 506 counters were unchanged, 1,047 untraded and 44 suspended. Turnover improved to 3.36 billion units worth RM2.18 billion from 3 billion shares worth RM2.3 billion yesterday. Heavyweights Maybank lost two sen to RM9.52, Public Bank and Tenaga Nasional fell four sen each to RM4.21 and RM13.32, respectively, CIMB slipped 11 sen to RM6.64, and IHH Healthcare decreased six sen to RM6.60. Among the most active stocks, ACE debutant Oxford Innotech gained 9.5 sen to 38.5 sen, Zetrix AI climbed one sen to 84.5 sen, NexG was flat at 53 sen, while Focus Dynamics eased 0.5 sen to 0.5 sen and Ekovest shed 3.5 sen to 40.5 sen. Among top gainers and decliners, Allianz Malaysia added 40 sen to RM17.70, Petronas Dagangan advanced 26 sen to RM21.70, and Petronas Chemicals garnered 18 sen to RM3.79. Top losers were Panasonic Manufacturing, which slid 36 sen to RM10.52, while Kuala Lumpur Kepong trimmed 28 sen to RM19.52. Across the broader market, the FBM Emas Index dropped 32.07 points to 11,440.13, the FBMT 100 Index slipped 30.92 points to 11,201.53, and the FBM Emas Shariah Index lost 11.95 points to 11,478.09. The FBM 70 Index eased 2.20 points to 16,528.21 and the FBM ACE Index fell 9.98 points to 4,626.62. By sector, the industrial products and services index inched up 1.99 points to 159.38, the energy index edged up 2.93 points to 743.72, while the financial services index tumbled 99.03 points to 17,309.34, and the plantation index sank 68.20 points to 7,395.03. The Main Market volume declined to 1.48 billion units valued at RM1.87 billion from 1.67 billion units valued at RM2.03 billion yesterday. Warrants turnover climbed to 1.1 billion units worth RM183.9 million from 1.01 billion units worth RM161.01 million previously. The ACE Market volume surged to 772.91 million units worth RM121.4 million from 323.13 million units worth RM106.95 million yesterday. Consumer products and services counters accounted for 213.86 million shares traded on the Main Market; industrial products and services (240.5 million), construction (165.43 million), technology (252.46 million), SPAC (nil), financial services (69.21 million), property (156.13 million), plantation (12.33 million), REITs (28.54 million), closed-end fund (1,000), energy (95.71 million), healthcare (134.24 million), telecommunications and media (30.26 million), transportation and logistics (44.63 million), utilities (40.6 million), and business trusts (242,800).
Malay Mail
8 hours ago
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Bursa stays bullish for FY2025 as fund managers hold record cash levels, forecasts return of foreign funds, IPO boom
KUALA LUMPUR, July 29 — Bursa Malaysia Bhd is maintaining its pre-tax profit (PBT) target of between RM369 million and RM408 million for the financial year ending Dec 31, 2025 (FY2025). Its chief executive officer, Datuk Fad'l Mohamed, said the projection remains amid strong liquidity from the domestic market and stable economic growth. He pointed out that the target is part of Bursa Malaysia's headline key performance indicator for the year and sees its earnings would potentially come from its derivatives and non-trading revenues to remain strong in the second half of its FY2025. Fad'l added that Bursa Malaysia anticipates a double-digit growth in its non-trading revenues over the next three years. 'Local investors, in particular, are noteworthy. I understand that many fund managers are currently holding cash. Data indicates that as of May, fund managers are holding approximately 11.5 per cent cash, which is the highest level since January 2024. 'We hope to see a greater level of trading activities once that cash is deployed,' he told reporters after announcing Bursa Malaysia's financial performance results for the first half of 2025 today. Fad'l said a better performance for FY2025 would also be supported with favourable aspects such as the attractive valuation of FBM KLCI, which currently stood at a discount of 17 per cent to its 10-year mean. He added that Bursa Malaysia is on track to capture 60 initial public offerings (IPOs) throughout 2025, with RM40.2 billion in total IPO market capitalisation. He added that the preemptive move undertaken by Bank Negara Malaysia to reduce interest rates by 25 basis points would bring additional liquidity to the financial system, and the FBM KLCI would have an upside from its current level of 1,530. In the first half of 2025, Bursa Malaysia recorded 32 IPOs, comprising six in the main market, 23 in ACE and three in LEAP. Meanwhile, trading activities in Bursa Malaysia are expected to recover in the second half of 2025, supported by capital deployment from funds currently holding high levels of cash. 'A lot of it will be dependent on capital flows. And I think quite clearly, for us, we see that funds are already sitting on a lot of cash. So, they will want to deploy that cash,' said Fad'l. He added that Bursa Malaysia still holds to the annual average daily trading value (ADV) consensus of RM2.6 billion. Fad'l believes that foreign funds may return to the Malaysian market as current valuations present an attractive entry point and strategic imperatives begin to take shape. He added that towards the end of last year, the bourse operator saw some movements with foreign funds that were looking to find safe havens. 'There was a lot of uncertainty towards the end of last year, including the Asean markets, which recorded foreign outflows. I think right now would be a good time, given where valuations are, for foreign funds to come back,' Fad'l said. — Bernama
Malay Mail
8 hours ago
- Malay Mail
Bursa ends lower ahead of 13MP as investors wait for US-China talks and US Fed meeting
KUALA LUMPUR, July 29 — Bursa Malaysia ended at its intraday low today, pressured by late selling as investors positioned themselves ahead of the 13th Malaysia Plan (13MP) announcement on Thursday. Apart from that, investors are awaiting fresh catalysts from the outcomes of the United States Federal Open Market Committee (FOMC) meeting scheduled on July 29-30, amid ongoing US-China trade talks in Stockholm. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.56 points, or 0.36 per cent, to close at 1,523.82 from Monday's close of 1,529.38. The benchmark opened 0.20 of-a-point firmer at 1,529.58 and subsequently hit its highest level of 1,537.62 in early trade before trending downward for the rest of the day. In the broader market, losers led gainers 603 to 365, while 506 counters were unchanged, 1,047 untraded and 44 suspended. Turnover improved to 3.36 billion units worth RM2.18 billion from 3.0 billion shares worth RM2.30 billion on Monday. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said investors appear to be positioning their portfolios/strategies ahead of potential domestic fiscal support, especially if external trade conditions deteriorate. 'The 13MP, to be unveiled in Parliament on Thursday under the MADANI framework, will reinforce the government's pro-growth trajectory, with a strong emphasis on infrastructure and industrial development,' he told Bernama. Mohd Sedek said the FBM KLCI closed lower today as sentiment turned increasingly cautious ahead of key global policy events. He said market focus now turns to the FOMC meeting as it is expected that the Federal Reserve (Fed) will leave rates unchanged, and the committee's forward guidance will be more closely scrutinised. 'In light of reduced tariff uncertainty from recent trade deals, Fed chairman Jerome Powell may choose to maintain flexibility for a September move. 'Markets appear to be pricing in this optionality, while remaining highly sensitive to the interplay between global policy risk and domestic macroeconomic resilience,' he said. He further noted that the positive signals from the US-China trade talks in Stockholm further buoyed market sentiment. 'The meeting between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, focused on addressing global economic imbalances, was seen as a constructive step ahead of the Aug 1 tariff deadline, helping to reduce geopolitical risk premiums. 'As such, investor reaction remains more measured, perhaps reflecting increased confidence in diplomatic engagement or reduced expectations of immediate escalation,' he noted. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng anticipates the local index to remain cautious as underlying sentiment continues to be weighed down by external uncertainties and inconsistent fund flows. 'With lingering concerns over global trade developments, monetary policy shifts, and foreign fund outflows, the broader outlook remains fragile. As such, we maintain our weekly FBM KLCI target at 1,510-1,540,' said Thong. Heavyweights Maybank lost two sen to RM9.52, Public Bank and Tenaga Nasional fell four sen each to RM4.21 and RM13.32, respectively, CIMB slipped 11 sen to RM6.64, and IHH Healthcare decreased six sen to RM6.60. Among the most active stocks, ACE debutant Oxford Innotech gained 9.5 sen to 38.5 sen, Zetrix AI climbed one sen to 84.5 sen, NexG was flat at 53 sen, while Focus Dynamics eased half-a-sen to half-a-sen and Ekovest shed 3.5 sen to 40.5 sen. Among top gainers and decliners, Allianz Malaysia added 40 sen to RM17.70, Petronas Dagangan advanced 26 sen to RM21.70, and Petronas Chemicals garnered 18 sen to RM3.79. Top losers were Panasonic Manufacturing which slid 36 sen to RM10.52 while Kuala Lumpur Kepong trimmed 28 sen to RM19.52. Across the broader market, the FBM Emas Index dropped 32.07 points to 11,440.13, the FBMT 100 Index slipped 30.92 points to 11,201.53, and the FBM Emas Shariah Index lost 11.95 points to 11,478.09. The FBM 70 Index eased 2.20 points to 16,528.21 and the FBM ACE Index fell 9.98 points to 4,626.62. By sector, the Industrial Products and Services Index inched up 1.99 points to 159.38, the Energy Index edged up 2.93 points to 743.72, while the Financial Services Index tumbled 99.03 points to 17,309.34 and the Plantation Index sank 68.20 points to 7,395.03. The Main Market volume declined to 1.48 billion units valued at RM1.87 billion from 1.67 billion units valued at RM2.03 billion on Monday. Warrants turnover climbed to 1.10 billion units worth RM183.90 million from 1.01 billion units worth RM161.01 million previously. The ACE Market volume surged to 772.91 million units worth RM121.40 million from 323.13 million units worth RM106.95 million yesterday. Consumer products and services counters accounted for 213.86 million shares traded on the Main Market; industrial products and services (240.50 million), construction (165.43 million), technology (252.46 million), SPAC (nil), financial services (69.21 million), property (156.13 million), plantation (12.33 million), REITs (28.54 million), closed-end fund (1,000), energy (95.71 million), healthcare (134.24 million), telecommunications and media (30.26 million), transportation and logistics (44.63 million), utilities (40.60 million), and business trusts (242,800). — Bernama
