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Malay Mail
4 days ago
- Business
- Malay Mail
Bursa Malaysia opens slightly higher as investors weigh Wall Street signals, Middle East ceasefire
KUALA LUMPUR, June 26 — Bursa Malaysia opened marginally higher on Thursday, tracking mixed signals from Wall Street's overnight performance amid a cautious market tone, an analyst said. At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.07 per cent, or 1.12 points, to 1,520.91 from Wednesday's close of 1,519.79. The benchmark index had opened 0.45 of-a-point firmer at 1,520.24. The broader market was positive, with 140 gainers outpacing 132 decliners. A total of 255 counters were unchanged, 1,911 untraded, and 102 suspended. Turnover stood at 112.85 million shares worth RM64.10 million. Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, said Wall Street closed on a mixed note as investors weighed ongoing developments in the Middle East and whether the prevailing ceasefire would hold. He added that hopes of an interest rate cut also supported sentiment, after US Federal Reserve chair Jerome Powell maintained a cautious tone in his latest remarks. Back home, Thong noted that the FBM KLCI had seen stock accumulation by local institutions as well as an influx of foreign funds in recent sessions. 'Nonetheless, we prefer to remain cautious as developments in the Middle East remain fluid. We expect the index to trend within the 1,515-1,525 range today,' he told Bernama. Among heavyweights, Malayan Banking and Tenaga Nasional rose two sen each to RM9.81 and RM14.26 respectively. CIMB added three sen to RM6.80, while Public Bank and IHH Healthcare were flat at RM4.30 and RM6.70 respectively. Among the most active counters, ACE Market debutant Pan Merchant slipped 3.5 sen to 23.5 sen. SNS Network and Reservoir Link lost two sen each to settle at 54 sen and 20.5 sen, respectively, while Dataprep and Solution Group added half a sen each to 10 sen and 10.5 sen. On the index board, the FBM Emas Index rose 9.66 points to 11,356.22, the FBMT 100 Index added 7.26 points to 11,135.66, and the FBM Emas Shariah Index gained 5.48 points to 11,307.26. The FBM 70 Index advanced 6.49 points to 16,236.59, while the FBM ACE Index slipped 8.75 points to 4,450.22. By sector, the Financial Services Index rose 27.27 points to 17,690.27, the Industrial Products and Services Index edged up 0.09 of a point to 150.30, the Plantation Index added 5.09 points to 7,235.28, and the Energy Index improved 1.27 points to 729.38. — Bernama
Malay Mail
5 days ago
- Business
- Malay Mail
Bursa edges up at midday on Iran-Israel ceasefire-driven sentiment boost
KUALA LUMPUR, June 25 — Bursa Malaysia ended today's morning session firmer amid improved sentiment and risk appetite following the development of a ceasefire between Israel and Iran. At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.38 points, or 0.42 per cent, to 1,520.67 from Tuesday's close of 1,514.29. The FBM KLCI, which opened 4.38 points firmer at 1,518.67, moved between 1,518.01 and 1,524.71 during the session. The broader market was positive with 493 gainers outnumbering 308 decliners, while 431 counters were unchanged, 1,211 untraded and 25 suspended. Turnover stood at 1.81 billion units worth RM1.06 billion. ActivTrades trader Anderson Alves said risk appetite remained resilient as Asian equities trended higher following the ceasefire announcement, despite reports of violations by both sides earlier. 'Market players will closely monitor Middle East developments for any signs of renewed geopolitical volatility,' he said. Among the heavyweights, Maybank gained three sen to RM9.83, Public Bank was flat at RM4.31, Tenaga Nasional rose two sen to RM14.28, CIMB added three sen to RM6.80, and IHH Healthcare increased 12 sen to RM6.71. Among the most active stocks, NexG was flat at 35.5 sen, Reservoir Link decreased 5.5 sen to 25.5 sen, MYEG put on one sen to 93 sen, Tanco was unchanged at 94 sen, and Green Ocean trimmed 2.5 sen to 23.5 sen. On the index board, the FBM Emas Index garnered 64.78 points to 11,352.81, the FBMT 100 Index climbed 63.37 points to 11,135.69, and the FBM Emas Shariah Index rose 70.20 points to 11,294.35. The FBM 70 Index bagged 165.45 points to 16,244.43 and the FBM ACE Index put on 47.75 points to 4,465.46. By sector, the Financial Services Index appreciated 43.03 points to 17,721.50, the Industrial Products and Services Index added 1.06 points to 150.03, the Plantation Index slipped 9.95 points to 7,219.08, and the Energy Index ticked up 1.36 points to 729.25. — Bernama
Malay Mail
5 days ago
- Business
- Malay Mail
Bursa rebounds at open, lifted by Wall Street rally and easing Middle East tensions
KUALA LUMPUR, June 25 — Bursa Malaysia rebounded to open higher on Wednesday, tracking Wall Street's overnight rally as sentiment improved amid easing Middle East tensions, an analyst said. At 9.08am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.58 per cent, or 8.84 points, to 1,523.13 from Tuesday's close of 1,514.29. The benchmark index opened 4.38 points firmer at 1,518.67. The broader market was positive, with 232 gainers outpacing 78 decliners. A total of 217 counters were unchanged, 1,916 untraded, and 25 suspended. Turnover stood at 152.14 million shares worth RM102.19 million. Malacca Securities Sdn Bhd stated in a note that Wall Street's rally was fueled by signs of easing geopolitical tensions and dovish signals from the US Federal Reserve, which lifted investor sentiment. 'US President Donald Trump's declaration that a ceasefire between Israel and Iran is 'in effect' lifted optimism, despite accusations of immediate violations by both sides. 'In view of the ceasefire and Wall Street's relief rally, we believe local market conditions may turn positive,' the firm said. Among heavyweights, Maybank gained five sen to RM9.85, Public Bank added two sen to RM4.33, Tenaga Nasional rose four sen to RM14.30, CIMB climbed three sen to RM6.80, and IHH Healthcare was up five sen to RM6.64. Among the most active stocks, NexG rose one sen to 36.5 sen, Magma added half a sen to 48 sen, Green Ocean remained flat at 26 sen, Cuckoo dropped two sen to RM1.06, and Dataprep slipped half-a-sen to 9.5 sen. On the index board, the FBM Emas Index climbed 64.86 points to 11,352.89, the FBMT 100 Index added 66.25 points to 11,138.57, and the FBM Emas Shariah Index advanced 63.89 points to 11,288.04. The FBM 70 Index surged 103.19 points to 16,435.52, while the FBM ACE Index gained 20.48 points to 4,438.19. By sector, the Financial Services Index rose 97.54 points to 17,776.01, the Industrial Products and Services Index edged up 1.05 points to 150.02, and the Plantation Index added 20.10 points to 7,249.13. The Energy Index, however, slipped 0.81 of a point to 727.08. — Bernama
The Star
5 days ago
- Business
- The Star
CIMB expects electricity tariff reform to have minimal inflation impact
KUALA LUMPUR: Malaysia's upcoming electricity tariff restructuring is expected to have a minimal impact on overall inflation, and its direct effect on headline consumer price index (CPI) is anticipated to be marginally disinflationary, said CIMB Investment Bank Bhd (CIMB). Based on Tenaga Nasional Bhd 's bill calculations, domestic users consuming below 1,000 kilowatt per hour (kWh) per month are expected to benefit most from discounts of 1.0-14.5 per cent, with those using under 600 kWh receiving full retail charge and services tax waivers. In a research note today, CIMB Investment Bank said it estimates that 85 per cent of residential users-equivalent to around 7.7 million households - consume less than 600 kWh, making them eligible for the full charge waiver and reinforcing the disinflationary bias. "Electricity holds a 2.7 per cent weight in the CPI basket, and with average household consumption estimated at 440 kWh, the full-year CPI impact is likely to come in slightly below -0.1 percentage point,' it added. The investment bank said the tariff also introduces targeted rebates via the Energy Efficiency Incentive, and expands off-peak hours under the Time-of-Use pricing scheme - from 10 pm - 8 am to 10 pm - 2 pm - enhancing potential savings for low- to moderate-usage households. Meanwhile, it said the trajectory of future tariffs under the Automatic Fuel Adjustment mechanism will hinge on foreign exchange movements and market fuel prices, particularly global coal and natural gas, which collectively account for around 90 per cent of Malaysia's energy mix. "While prices for both commodities remain relatively subdued versus last year, geopolitical risks could still introduce price volatility. "Nonetheless, with most households shielded and current fuel costs relatively contained, we expect the inflationary impact to remain limited,' it said. Malaysia's headline inflation eased to 1.2 per cent year-on-year in May - its lowest level since February 2021. "Given subdued inflation trends, coupled with weak external trade, we maintain our call for Bank Negara Malaysia to cut the overnight policy rate by 25 basis points to 2.75 per cent at the upcoming July monetary policy committee meeting to support growth,' added CIMB. - Bernama
Malay Mail
6 days ago
- Business
- Malay Mail
Bursa dips despite Wall Street rally, as Trump's Iran ceasefire talk tempers sentiment
KUALA LUMPUR, June 24 — Bursa Malaysia opened marginally lower on Tuesday as cautious sentiment persisted despite Wall Street's upbeat overnight performance, while investors reassessed ongoing global geopolitical risks, an analyst said. At 9.08am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.01 points, or 0.2 per cent, to 1,513.60 from Monday's close of 1,516.61. The benchmark index opened 2.36 points lower at 1,514.25. However, the broader market was positive, with 275 gainers leading 100 decliners, 200 counters were unchanged, while 1,863 were untraded and 41 suspended. Turnover stood at 191.36 million shares worth RM128.17 million. Rakuten Trade Sdn Bhd's equity research vice-president, Thong Pak Leng, said Wall Street closed broadly higher as traders observed that Iran's retaliation overnight towards the US had been restrained. In addition, United States President Donald Trump also just announced an Israel-Iran ceasefire timeline that will potentially end the war following what he described as a 'weak' retaliation from Iran. Back home, Thong said the FBM KLCI surprisingly staged a strong rebound after a weak opening yesterday, predominantly due to buying support by local institutions. 'For today, we expect the index to trend between the 1,510-1,530 range,' he told Bernama. Among heavyweights, Maybank gained one sen to RM9.68, and Public Bank fell 13 sen to RM4.29. CIMB eased one sen to RM6.79, IHH Healthcare dropped two sen to RM6.83, while Tenaga Nasional was flat at RM14.30. Among the most active stocks, Main Market-debutant Cuckoo was flat at RM1.08, and NexG rose half-a-sen to 35.5 sen. Velesto Energy slipped half-a-sen to 18 sen, Hibiscus Petroleum declined 16 sen to RM1.67, and Bumi Armada gave up 1.5 sen to 46.5 sen. On the index board, the FBM Emas Index shed 4.92 points to 11,284.26, and the FBMT 100 Index shrank 8.52 points to 11,075.38. Meanwhile, the FBM Emas Shariah Index rose 33.44 points to 11,245.35, the FBM 70 Index was up 47.01 points to 16,119.10, and the FBM ACE Index garnered 25.42 points to 4,403.27. By sector, the Financial Services Index slid 97.38 points to 17,575.41, the Industrial Products and Services Index added 0.63 of a point to 148.01, the Plantation Index narrowed 2.40 points to 7,228.15, and the Energy Index declined 20.39 points to 725.56. — Bernama
