Latest news with #MohdSedekJantan
New Straits Times
5 hours ago
- Business
- New Straits Times
Late buying interest lifts Bursa Malaysia to close at intraday high
KUALA LUMPUR: Bursa Malaysia languished in the red for most of the day but managed to eke out paltry gains to settle at an intraday high on Wednesday due to late buying interest in selected heavyweights led by industrial products and financial services sectors. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 0.68 of-a-point, or 0.05 per cent, to close at 1,524.50 from Tuesday's close of 1,523.82. The benchmark index opened 0.28 of-a-point higher at 1,524.10 and hit a low of 1,516.96 during the morning session. However, the broader market was negativeve, with losers outpacing gainers 570 to 377, while 508 counters were unchanged, 1,076 untraded and 89 suspended. Turnover declined to 2.65 billion units worth RM2.07 billion from 3.36 billion shares worth RM2.18 billion yesterday. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the market barometer traded within a narrow range for most of the day, hovering around 1,522, before a sharp uptick in the final 10 minutes pushed it to close at 1,524.50. He said the financial services counters lagged earlier in the session, pressured by the widening divergence in monetary policy between Bank Negara Malaysia (BNM) and the United States (US) Federal Reserve (Fed). "Earlier this month, BNM cut the Overnight Policy Rate by 25 basis points to 2.75 per cent and the Fed is widely expected to keep its benchmark rate unchanged at 4.33 per cent. "This growing policy gap has amplified the risk of capital outflows from interest rate–sensitive sectors, prompting foreign investors to reduce their positioning in Malaysian financials," he told Bernama. Mohd Sedek also noted that markets are beginning to price in increased volatility, with less than 48 hours remaining before the US tariff negotiation deadline and ahead of the Federal Open Market Committee (FOMC) decision later tonight. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng expects investors to gradually re-enter the market, anticipating potential catalysts such as regional policy easing, progress on trade negotiations, and renewed interest in undervalued blue-chip stocks. "We retain our weekly FBM KLCI target at between 1,510 and 1,540," he said. Heavyweights Petronas Chemicals (PChem) rose 28 sen to RM4.07, Public Bank gained eight sen to RM4.29, and Hong Leong Bank was 26 sen higher at RM19.30, while CIMB slipped nine sen to RM6.55 and Maybank lost seven sen to RM9.45. Tenaga Nasional fell four sen to RM13.28 and IHH Healthcare climbed three sen to RM6.63. Of the most active counters, NexG and Zetrix AI were flat at 53 sen and 84.5 sen, respectively, Lotte Chemical Titan advanced four sen to 72 sen, while Tanco slid nine sen to 83.5 sen, and Pharmaniaga erased two sen to 16 sen. Besides PChem, other top gainers were Chin Teck Plantations which garnered 27 sen to RM9.76, Hong Leong Bank rose 26 sen to RM19.30, and Far East Holdings surged 20 sen to RM4. Among the top losers, Nestle fell 40 sen to RM87.40, Fraser and Neave dipped 30 sen to RM28.60, and Allianz Malaysia slid 28 sen to RM17.42.
Malay Mail
a day ago
- Business
- 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
New Straits Times
a day ago
- Business
- New Straits Times
Bursa slips on late selling amid cautious sentiment
KUALA LUMPUR: Bursa Malaysia ended lower, weighed down by late-session selling as investors adopted a more cautious stance ahead of major global policy events. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 0.36 per cent or 5.56 points to settle at 1,523.82, down from its previous close of 1,529.38. Market breadth was negative, with 603 decliners outpacing 363 gainers, while 508 counters remained unchanged. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said sector performance was mixed, with gains in petrochemical, construction and selected industrial stocks. Financial stocks, however, led the losses as investors grew more sensitive to interest rate expectations ahead of the US Federal Reserve meeting. He said the weakness in financials reflected concerns that a dovish shift by the Fed could compress net interest margins and weigh on short-term banking profitability. "In contrast, resilience in select industrial and commodity-linked sectors can be attributed to several factors. "Firstly, many of these counters had undergone meaningful valuation corrections earlier in the year, suggesting much of the tariff-related risk may already be priced in. "Secondly, investors appear to be positioning ahead of potential domestic fiscal support especially if external trade conditions deteriorate," he said. Sedek said this is further supported by expectations that the 13th Malaysia Plan, set to be unveiled this Thursday, will strengthen the government's pro-growth agenda, with a strong focus on infrastructure and industrial development.
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
Bursa pares gains to close lower on cautious sentiment ahead of US tariff deadline
KUALA LUMPUR — Bursa Malaysia pared earlier gains to close lower on Monday, as investors adopted a more cautious posture ahead of the US tariff negotiation deadline on Aug 1. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.38 points, or 0.29 per cent, to close at 1,529.38 from Friday's close of 1,533.76. The benchmark index opened 4.29 points firmer at 1,538.05 and moved between 1,528.34 and 1,539.38 throughout the trading session. In the broader market, losers led gainers 554 to 420, while 488 counters were unchanged and 1,091 untraded, with 43 suspended. Turnover improved to three billion units worth RM2.30 billion from 2.86 billion shares worth RM2.16 billion on Friday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research, Mohd Sedek Jantan, noted that the FBM KLCI commenced the week's trading on a firm footing, posting early gains during the morning session. However, the momentum proved unsustainable into the afternoon, with the index closing lower as investors adopted a more cautious posture ahead of Thursday's US tariff deadline. 'Among the FBM KLCI constituents, plantation and utility counters led the gainers, aligning with our weekly view that investor positioning would favour domestically oriented sectors amidst heightened external uncertainty. 'We anticipate markets will continue to consolidate in the near term, awaiting further signals from the Malaysia-US trade talks or any fresh tariff-related announcements from US President Donald Trump,' he told Bernama. Mohd Sedek noted that regional peers delivered a mixed performance on Monday, weighed by profit-taking and concerns over global trade developments. Hong Kong's Hang Seng gained 0.68 per cent to close at 25,562.13, South Korea's Kospi garnered 0.42 per cent to 3,209.52, while Singapore's Straits Times Index lost 0.27 per cent to 4,249.48, and Japan's Nikkei 225 shed 1.10 per cent to 40,998.27. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local benchmark index closed below the 1,530 level due to late selling. He noted that market sentiment was subdued as investors awaited more details from the US-China trade discussions, set to begin in Stockholm later today. Thong said the local bourse remains in consolidation mode, hovering around the 1,530 level due to a lack of fresh catalysts. 'For the moment, we expect the FBM KLCI to trend range-bound, hovering within 1,510-1,540 points for the week. We notice crude palm oil (CPO) futures remain above RM4,000 per tonne, and we believe this is an opportunity to accumulate plantation stocks,' he added. Of the heavyweight stocks, Maybank, CIMB and IHH Healthcare were all flat at RM9.54, RM6.75 and RM6.66, respectively. Public Bank fell four sen to RM4.25 and Tenaga Nasional slid 24 sen to RM13.36. Petronas Chemicals jumped eight sen to RM3.61, and Nestle surged RM2.50 to RM88. Among the most active stocks, Ekovest added four sen to 44 sen, NexG inched up half a sen to 53 sen, and Tanco grew one sen to 92.5 sen. Zetrix AI went down 7.5 sen to 83.5 sen and YTL Corporation slipped three sen to RM2.45. Among top gainers and decliners, SAM Engineering and Equipment rallied 13 sen to RM4.20, while Fraser and Neave and Infomina were 10 sen higher each at RM29 and RM1.1, respectively. United Plantations dropped 32 sen to RM21.90, and Petronas Dagangan lost 26 sen to RM21.44 to lead the losers. Across the broader market, the FBM Emas Index dropped 34.62 points to 11,472.20, the FBMT 100 Index slipped 37.27 points to 11,232.45, and the FBM Emas Shariah Index lost 38.94 points to 11,490.04. The FBM 70 Index fell 77.16 points to 16,530.41 while the FBM ACE Index shaved 2.42 points to 4,636.60. By sector, the Plantation Index grew 28.44 points to 7,463.23, the Industrial Products and Services Index inched up 0.25 of a point higher to 157.39, and the Energy Index climbed 0.94 of a point to 740.79. The Financial Services Index sank 45.86 points to 17,408.37. The Main Market volume improved to 1.67 billion units valued at RM2.03 billion from 1.26 billion units valued at RM1.85 billion. Warrant turnover slipped to 1.01 billion units worth RM161.01 million from 1.28 billion units worth RM218.03 million previously. The ACE Market volume rose to 323.13 million units worth RM106.95 million from 313.89 million units worth RM90.97 million. Consumer products and services counters accounted for 236.86 million shares traded on the Main Market; industrial products and services (218.34 million), construction (182.64 million), technology (469.30 million), SPAC (nil), financial services (63.27 million), property (170.58 million), plantation (13.29 million), REITs (15.88 million), closed-end fund (900), energy (110.48 million), healthcare (42.84 million), telecommunications and media (33.72 million), transportation and logistics (39.83 million), utilities (71.07 million), and business trusts (27,000). — BERNAMA
The Star
2 days ago
- Business
- The Star
Bursa pares gains to close lower on cautious sentiment ahead of US tariff deadline
KUALA LUMPUR: Bursa Malaysia pared earlier gains to close lower on Monday, as investors adopted a more cautious posture ahead of the US tariff negotiation deadline on Aug 1. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.38 points, or 0.29 per cent, to close at 1,529.38 from Friday's close of 1,533.76. The benchmark index opened 4.29 points firmer at 1,538.05 and moved between 1,528.34 and 1,539.38 throughout the trading session. In the broader market, losers led gainers 554 to 420, while 488 counters were unchanged and 1,091 untraded, with 43 suspended. Turnover improved to three billion units worth RM2.30 billion from 2.86 billion shares worth RM2.16 billion on Friday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research, Mohd Sedek Jantan, noted that the FBM KLCI commenced the week's trading on a firm footing, posting early gains during the morning session. However, the momentum proved unsustainable into the afternoon, with the index closing lower as investors adopted a more cautious posture ahead of Thursday's US tariff deadline. "Among the FBM KLCI constituents, plantation and utility counters led the gainers, aligning with our weekly view that investor positioning would favour domestically oriented sectors amidst heightened external uncertainty. "We anticipate markets will continue to consolidate in the near term, awaiting further signals from the Malaysia-US trade talks or any fresh tariff-related announcements from US President Donald Trump,' he told Bernama. Mohd Sedek noted that regional peers delivered a mixed performance on Monday, weighed by profit-taking and concerns over global trade developments. Hong Kong's Hang Seng gained 0.68 per cent to close at 25,562.13, South Korea's Kospi garnered 0.42 per cent to 3,209.52, while Singapore's Straits Times Index lost 0.27 per cent to 4,249.48, and Japan's Nikkei 225 shed 1.10 per cent to 40,998.27. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local benchmark index closed below the 1,530 level due to late selling. He noted that market sentiment was subdued as investors awaited more details from the US-China trade discussions, set to begin in Stockholm later today. Thong said the local bourse remains in consolidation mode, hovering around the 1,530 level due to a lack of fresh catalysts. "For the moment, we expect the FBM KLCI to trend range-bound, hovering within 1,510-1,540 points for the week. We notice crude palm oil (CPO) futures remain above RM4,000 per tonne, and we believe this is an opportunity to accumulate plantation stocks,' he added. Of the heavyweight stocks, Maybank, CIMB and IHH Healthcare were all flat at RM9.54, RM6.75 and RM6.66, respectively. Public Bank fell four sen to RM4.25 and Tenaga Nasional slid 24 sen to RM13.36. Petronas Chemicals jumped eight sen to RM3.61, and Nestle surged RM2.50 to RM88. Among the most active stocks, Ekovest added four sen to 44 sen, NexG inched up half a sen to 53 sen, and Tanco grew one sen to 92.5 sen. Zetrix AI went down 7.5 sen to 83.5 sen and YTL Corporation slipped three sen to RM2.45. Among top gainers and decliners, Sam Engineering and Equipment rallied 13 sen to RM4.20, while Fraser and Neave and Infomina were 10 sen higher each at RM29 and RM1.1, respectively. United Plantations dropped 32 sen to RM21.90, and Petronas Dagangan lost 26 sen to RM21.44 to lead the losers. Across the broader market, the FBM Emas Index dropped 34.62 points to 11,472.20, the FBMT 100 Index slipped 37.27 points to 11,232.45, and the FBM Emas Shariah Index lost 38.94 points to 11,490.04. The FBM 70 Index fell 77.16 points to 16,530.41 while the FBM ACE Index shaved 2.42 points to 4,636.60. By sector, the Plantation Index grew 28.44 points to 7,463.23, the Industrial Products and Services Index inched up 0.25 of a point higher to 157.39, and the Energy Index climbed 0.94 of a point to 740.79. The Financial Services Index sank 45.86 points to 17,408.37. The Main Market volume improved to 1.67 billion units valued at RM2.03 billion from 1.26 billion units valued at RM1.85 billion. Warrant turnover slipped to 1.01 billion units worth RM161.01 million from 1.28 billion units worth RM218.03 million previously. The ACE Market volume rose to 323.13 million units worth RM106.95 million from 313.89 million units worth RM90.97 million. Consumer products and services counters accounted for 236.86 million shares traded on the Main Market; industrial products and services (218.34 million), construction (182.64 million), technology (469.30 million), SPAC (nil), financial services (63.27 million), property (170.58 million), plantation (13.29 million), REITs (15.88 million), closed-end fund (900), energy (110.48 million), healthcare (42.84 million), telecommunications and media (33.72 million), transportation and logistics (39.83 million), utilities (71.07 million), and business trusts (27,000). - Bernama
