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Malaysian Reserve
3 days ago
- Business
- Malaysian Reserve
Bursa Malaysia holds steady to close higher, tracking regional gains
KUALA LUMPUR — Bursa Malaysia reversed last Friday's losses to close higher on Monday, tracking gains in regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 1.44 points, or 0.09 per cent, to 1,537.51 from Friday's close of 1,536.07. The benchmark had opened 0.10 of a point lower at 1,535.97 and hovered between 1,533.93 and 1,538.33 throughout the session. The market breadth was negative, with 514 decliners outpacing 432 gainers and 510 counters unchanged, while 962 were untraded and nine suspended. Turnover declined to 2.93 billion shares worth RM1.67 billion, compared with 3.37 billion shares worth RM2.30 billion last Friday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research, Mohd Sedek Jantan, said the key index's positive performance was underpinned by stronger-than-expected trade data from China, with exports rising 5.8 per cent year-on-year in June, well above the 3.6 per cent forecast. 'The data suggested that Chinese exporters were accelerating shipments ahead of the expiry of the 90-day tariff reprieve, providing some relief to global market sentiment and partially offsetting lingering concerns over Washington's tariff rhetoric,' he told Bernama. Investors will also monitor more upcoming data from China, particularly June trade figures and the second-quarter gross domestic product (GDP). The Chinese government is due to release the economic data tomorrow. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market sentiment remains cautious amid ongoing concerns over US tariffs, with investors closely monitoring their implications for ASEAN economies and global supply chains. 'Nevertheless, the benchmark index is well supported above the 1,530 level. While commodity-related stocks saw some selling pressure, defensive and stable names in banking, consumer and utilities showed resilience,' he noted. Thong anticipates the FBM KLCI to trend within the range of 1,530-1,560 for the week. Among the heavyweight counters, Maybank gained three sen to RM9.72, while Public Bank and Tenaga Nasional rose two sen each to RM4.34 and RM13.98, respectively. CIMB and IHH Healthcare both edged up one sen to RM6.69 and RM6.59. In active trade, NexG gained two sen to 47 sen, Wentel Engineering grew 1.5 sen to 33.5 sen, Malaysian Resources Corporation added half-a-sen to 54 sen, Zetrix AI was 1.5 sen lower at 98.5 sen, and Tanco was flat at 90.5 sen. On the index board, the FBM Emas Index gained 14.88 points to 11,558.46, the FBMT 100 Index expanded 12.30 points to 11,321.04, and the FBM Emas Shariah Index added 8.13 points to 11,560.60. The FBM 70 Index increased 25.85 points to 16,787.20, while the FBM ACE Index improved 33.35 points to 4,571.52. By sector, the Financial Services Index gained 55.74 points to 17,663.87, the Industrial Products and Services Index shaved 0.22 points to 153.87, and the Plantation Index fell 16.35 points to 7,434.10. The Energy Index inched up 9.76 points to 747.38. The Main Market volume retreated to 1.13 billion units worth RM1.35 billion from 1.36 billion units valued at RM1.99 billion last Friday. Warrant turnover slipped to 1.46 billion units valued at RM208.01 million from 1.70 billion units worth RM203 million previously. The ACE Market volume increased to 342.18 million units valued at RM113.55 million, versus 318.83 million units worth RM107.58 million on Friday. Consumer products and services counters accounted for 171.70 million shares traded on the Main Market; industrial products and services (182.22 million), construction (82.17 million), technology (239.31 million), SPAC (nil), financial services (41.28 million), property (179.63 million), plantation (11.93 million), REITs (19.63 million), closed-end fund (22,800), energy (61.84 million), healthcare (54 million), telecommunications and media (30.31 million), transportation and logistics (21.68 million), utilities (34.41 million), and business trusts (18,500). — BERNAMA
New Straits Times
3 days ago
- Business
- New Straits Times
Bursa Malaysia holds steady to close higher, tracking regional gains
KUALA LUMPUR: Bursa Malaysia reversed last Friday's losses to close higher on Monday, tracking gains in regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 1.44 points, or 0.09 per cent, to 1,537.51 from Friday's close of 1,536.07. The benchmark had opened 0.10 of a point lower at 1,535.97 and hovered between 1,533.93 and 1,538.33 throughout the session. The market breadth was negative, with 514 decliners outpacing 432 gainers and 510 counters unchanged, while 962 were untraded and nine suspended. Turnover declined to 2.93 billion shares worth RM1.67 billion, compared with 3.37 billion shares worth RM2.30 billion last Friday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research, Mohd Sedek Jantan, said the key index's positive performance was underpinned by stronger-than-expected trade data from China, with exports rising 5.8 per cent year-on-year in June, well above the 3.6 per cent forecast. "The data suggested that Chinese exporters were accelerating shipments ahead of the expiry of the 90-day tariff reprieve, providing some relief to global market sentiment and partially offsetting lingering concerns over Washington's tariff rhetoric," he told Bernama. Investors will also monitor more upcoming data from China, particularly June trade figures and the second-quarter gross domestic product (GDP). The Chinese government is due to release the economic data tomorrow. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market sentiment remains cautious amid ongoing concerns over US tariffs, with investors closely monitoring their implications for ASEAN economies and global supply chains. "Nevertheless, the benchmark index is well supported above the 1,530 level. While commodity-related stocks saw some selling pressure, defensive and stable names in banking, consumer and utilities showed resilience," he noted. Thong anticipates the FBM KLCI to trend within the range of 1,530-1,560 for the week. Among the heavyweight counters, Maybank gained three sen to RM9.72, while Public Bank and Tenaga Nasional rose two sen each to RM4.34 and RM13.98, respectively. CIMB and IHH Healthcare both edged up one sen to RM6.69 and RM6.59. In active trade, NexG gained two sen to 47 sen, Wentel Engineering grew 1.5 sen to 33.5 sen, Malaysian Resources Corporation added half-a-sen to 54 sen, Zetrix AI was 1.5 sen lower at 98.5 sen, and Tanco was flat at 90.5 sen.
Focus Malaysia
3 days ago
- Business
- Focus Malaysia
Bursa Malaysia holds steady to close higher, tracking regional gains
BURSA Malaysia reversed last week's losses to close higher on Monday, tracking gains in regional markets. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 1.44 points, or 0.09 per cent, to 1,537.51 from Friday's close of 1,536.07. The benchmark had opened 0.10 of a point lower at 1,535.97 and hovered between 1,533.93 and 1,538.33 throughout the session. The market breadth was negative, with 514 decliners outpacing 432 gainers and 510 counters unchanged, while 962 were untraded and nine suspended. Turnover declined to 2.93 billion shares worth RM1.67 bil, compared with 3.37 billion shares worth RM2.30 bil last Friday. ‒ July 14, 2025
Focus Malaysia
4 days ago
- Business
- Focus Malaysia
Asian markets mixed as trade war fears resurface
ASIAN markets were mixed last Friday, as investors digested Trump's surprise announcement of a 35% tariff on Canadian imports (effective 1 Aug) and hints at broader global tariff hikes—rekindling fears of a renewed trade war and a potential drag on global growth. Meanwhile, China and Hong Kong equities outperformed, buoyed by rising expectations of additional stimulus middling inflation data released last week. The Dow slipped 279 points to 44,371 after Trump imposed a 35% tariff on Canadian imports, stoking renewed trade war fears. Over the weekend, he escalated tensions with a 30% tariff on Mexican and EU goods (effective Aug 1), following earlier tariffs on South Korea, Japan (25%), and Brazil (50%). Markets remain on edge for further action against major US trading partners. This week, earnings from JPMorgan, Goldman Sachs, Citi, BlackRock, TSMC, ASML, Netflix, J&J, and PepsiCo will be closely watched. Meanwhile, a busy data week includes June CPI, PPI, retail sales and the Michigan consumer sentiment survey. Tracking tepid Wall St and regional markets coupled with renewed foreign outflows, KLCI eased 0.5-pt at 1,536.1 after rising as much as 6 pts intraday. Market sentiment remained resilient at 1.13 (vs 1.26 prior), supported by 3.37 bil shares traded worth RM2.30 bil. The KLCI remains range-bound within a triangle consolidation as investors assess the impact of fresh U.S. tariffs on key trading partners and potential AI chip curbs affecting Malaysia. In the near term, the KLCI is expected to remain in range bound consolidation mode as investors digest the implications of Trump having ratcheted up trade tariffs on key trading partners over the last two weeks. Sentiment remains cautious amid multiple headwinds, including: (i) Uncertainty over a more complex negotiation process with Washington to ease the 25% tariff by 1 Aug. (ii) Potential US restrictions on AI chip exports to Malaysia. (iii) Renewed foreign selling, reversing the RM335 mil net inflows seen over the prior two weeks. (iv) Domestic policy headwinds, such as upcoming fuel and power subsidy rationalisation, port tariff hikes, and the SST expansion in 2H25, which could weigh on consumer spending and corporate earnings visibility. —July 14, 2025 Main image: Reuters
New Straits Times
6 days ago
- Business
- New Straits Times
FBM KLCI slightly lower amid lack of frsh catalyst
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) ended the week slightly lower on Friday, as investors await fresh catalysts, mainly the ongoing trade negotiations between Malaysia and the United States (US). At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.45 points or 0.03 per cent to 1,536.07 from Thursday's close of 1,536.52. The benchmark index had opened 1.36 points higher at 1,537.88 and hovered between 1,530.77 and 1,541.94 throughout the session. However, the market breadth was positive, with 510 gainers outpacing 450 decliners. A total of 532 counters were unchanged, while 926 were untraded and 10 suspended. Turnover rose to 3.37 billion shares worth RM2.30 billion, compared with 3.25 billion shares worth RM2.45 billion on Thursday.
