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The Star
2 days ago
- Business
- The Star
FBM KLCI marginally higher at midday as tariff anxieties weigh on gobal markets
KUALA LUMPUR: The Malaysian benchmark stock index was little changed at midday after paring earlier gains as anxiety grew over the impact of US tariffs on global trade and economic growth. As regional markets turned lower, the FBM KLCI managed to stay positive, albeit a marginal 0.67 points at 1,540.05. The biggest lift was seen in stocks such as Press Metal up 13 sen to RM5.48, PETRONAS Chemicals gaining 17 sne to RM3.78, PETRONAS Dagangan up 18 sen to RM21.62 and Sunway rising six sen to RM4.88. IOI Corp, meanwhile, weighed on the index after falling 11 sen to RM3.76 and Nestle shed 70 sen to RM87.30 following the recent rally. Outside of the blue chips, however, sentiment was dour with the number of declining issues nearly double the the number of advancing. Trading volume was 2.25 billion shares valued at RM1.08bil. Some stand out performancer included British American Tobacco , surging 33 sen to RM4.90 following a positive quarterly result. Westports jumped seven sen to RM5.69 while Malayan Cement climbed seven sen to RM5.41. Of actives, Focus was down 0.5 sen to 0.5 sen. ACE Market debutant Oxford Innotech ended 9.5 sen higher at 38.5 sen, while Ekovest slumped 5.5 sen to 38.5 sen following the failure of its merger with Knusford. In key Asian markets, Japan's Nikkei was down 0.95% to 26,154 and South Korea's Kospi rose 0.65% to 3,230. China's composite index was 0.01% down to 3,595 and Hong Kong's Hang Seng slid 0.95% to 25,319.
The Star
15-07-2025
- Business
- The Star
Bursa Malaysia slides as global headwinds continue
KUALA LUMPUR: Malaysian equities failed to hold on to price levels in the early session amid growing anxiety over the developments in the US tariffs saga and growing geopolitical tension. The market's main index was was down 4.25 points to 1,533.26 while 463 stocks fell into negative territory, as compared to 358 trading higher. Volume was 1.86 billion shares valued at RM1.04bil. Among the leading laggards, PETRONAS Dagangan shed 22 sen to RM21.36, Hong Leong Bank lost 16 sen to RM19.40 and Gamuda shaved five sen to RM5.04. Leading the actives was Zetrix AI, slumping 5.5 sen to 93 sen following the stock exchange's public reprimand. Runner-ups included NexG, up 0.5 sen to 47.5 sen, and NationaGate up eight sen to RM1.68. In regional markets, Japan's Nikkei was upo 0.11% to 34,496 while South Korea's Kospi dropped 0.18% to 3,196. China's composite index slid 0.93% to 3,486 and Hong Kong's Hang Seng rose 0.2% to 24,250.
The Star
02-07-2025
- Business
- The Star
Bursa Malaysia trends higher, boosted by PETRONAS-linked stocks
KUALA LUMPUR: Bursa Malaysia trended higher in early trade on Wednesday, supported by gains in the energy sector, particularly PETRONAS-linked stocks, following a weaker start to the day. The FBM KLCI rose 2.99 points, or 0.19% to 1,544.52 at 9.16 am. It opened 1.8 points lower at 1,539.73 earlier. PETRONAS Dagangan and PETRONAS Gas rose 18 sen each to RM21.44 and RM17.68 respectively. Tong Herr Resources gained 14 sen to RM1.65 and MISC added 11 sen to RM7.66. F&N lost 30 sen to RM28.78, QL fell 10 sen to RM4.58, ViTrox declined nine sen to RM3.63 and Kuala Lumpur Kepong eased eight sen to RM21. Berjaya Research Sdn Bhd said that near-term market conditions remain positive and may nudge the key index higher, supported by mild bargain-hunting activities in some of the beaten-down sector leaders. As such, the research house said the portfolio realignment exercise could extend. However, the potential upsides may remain relatively modest due to the prevailing low market participation rate, with few noteworthy leads, which has left many market players on the sidelines. 'Investors are on the lookout for more clues on the U.S. tariffs but with the exemptions expiring next week, there is still little progress on the trade negotiations thus far. 'Meanwhile, the key index is at its 1,541 hurdle and the targets are now at the 1,544-1,548 levels, followed by the psychological level of 1,550 points. 'The supports, on the other hand, are at 1,535 points and 1,527 points respectively,' Berjaya Research said. Meanwhile, Rakuten Trade noted that the FBM KLCI closed higher on Tuesday, attributing the rise to some accumulation by foreign funds. 'It is interesting to see that net foreign inflows have already taken place over the past few days. 'Therefore, we expect the index to hover between the 1,540-1,550 range today,' it added.
The Star
24-06-2025
- Business
- The Star
FBM KLCI posts flat morning session, selldown in oil stocks continue
KUALA LUMPUR: Malaysia's benchmark stock index was flat in early session trading as a pick up in certain heavyweights helped to offset the profit-taking seen at the start of the day. At 12.30pm, the FBM KLCI was down 0.37 points to 1,516.24, off a morning low of 1,511.09. Maybank drove the index higher with a 15 sen gain to RM9.82, while Press Metal tacked on 12 sen to RM5.01 and PETRONAS Dagangan gained 22 sen ot RM21.44. Public Bank weighed on the market, falling 14 sen to RM4.28. IHH Healthcare slid nine sen to RM6.76 and CIMB lost four sen to RM3.83. With crude oil prices continuing their descent - Brent was down 2.56% to slip below US$70 a barrel while WTI shed 2.66% to US$66.67 a barrel - investors continued to unload holdings of oil and gas stocks on Bursa Malaysia. Petron Malaysia dropped 18 sen nto RM3.70, Hibiscus Petroleum dropped 15 sen to RM1.68 and Hengyuan Refining slid 14 sen to RM1.78. Meanwhile, Asian markets reversed loss from yesterday as investors breathed a sigh of relief that the Iran-Israel conflict had been contained. In leading markets, Japan's Nikkei was up 1.06% to 38,758, China's CSI300 rose 1.09% to 3,899 and Hong Kong's Hang Seng rose 1.95% to 24,150.
The Star
19-06-2025
- Business
- The Star
Rising fears over US attack on Iran drive equities lower
KUALA LUMPUR: Malaysian equities tumbled in Thursday's early session, in line with the performance of regional markets as fears mounted that the US would enter the Israel-Iran conflict. At the midday break, the FBM KLCI was down 8.77 points to 1,503.18, taking the index to its lowest point in June as investors sold down heavyweights across industry sectors. The flight from equities in light of the prospect of an escalation of military action in the Middle East saw broad-based retreat in domestic equities. Declining issues outweighed advancing at a ratio of nearly 3-to-1 while market turnover stood at 1.81 billion shares for a low value of RM765.06mil. Leading the sell-off in the blue-chip index, PPB dropped 39 sen to RM9.99, PETRONAS Dagangan dropped 26 sen to RM21.10 and Kuala Lumpur Kepong shed 26 sen to RM19.76. Meanwhile, reports that US President Donald Trump had privately approved plans to attack Iran further rattled Asian markets. Japan's Nikkei slipped 0.85% to 38,554. In China, the blue-chip CSI300 dropped 0.78% to 3,844 while the composite index shed 0.86% to 3,359. Hong Kong's Hang Seng fell 2.02% to 23,231.
