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Free Malaysia Today
8 hours ago
- Business
- Free Malaysia Today
Late buying interest lifts Bursa 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 today due to late buying interest in selected heavyweights led by industrial products and financial services sectors. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research 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 US Federal Reserve (Fed). 'Earlier this month, BNM cut the overnight policy rate by 25 basis points to 2.75% and the Fed is widely expected to keep its benchmark rate unchanged at 4.33%. '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. 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's (FOMC) decision later tonight. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said he expects investors to gradually re-enter the market, anticipating potential catalysts such as regional policy easing, progress in 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. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 0.68 of-a-point, or 0.05%, to close at 1,524.50 from yesterday'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 negative, 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. 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. Across the broader market, the FBM Emas Index shaved 4.60 points to 11,435.53, the FBMT 100 Index shed 2.83 points to 11,198.70, and the FBM Emas Shariah Index lost 4.07 points to 11,474.02. The FBM 70 Index sank 38.51 points to 16,489.70 and the FBM ACE Index fell 32.74 points to 4,593.88. By sector, the industrial products and services index inched up 1.51 points to 160.89, the plantation index perked up 12.48 points to 7,407.51, while the financial services index slipped 11.61 points to 17,297.73 and the energy index eased 0.01 of-a-point to 743.71. The Main Market volume declined to 1.26 billion units valued at RM1.81 billion from 1.48 billion units valued at RM1.87 billion on Tuesday. Warrants turnover narrowed to 1.07 billion units worth RM160.12 million from 1.1 billion units worth RM183.9 million previously. The ACE Market volume tumbled to 312.33 million units worth RM99.59 million from 772.91 million units worth RM121.4 million yesterday. Consumer products and services counters accounted for 182.74 million shares traded on the Main Market; industrial products and services (245.5 million), construction (79.47 million), technology (244.64 million), SPAC (nil), financial services (81.78 million), property (141.15 million), plantation (20.77 million), REITs (34.39 million), closed-end fund (8,800), energy (70.35 million), healthcare (90.04 million), telecommunications and media (18.85 million), transportation and logistics (19.82 million), utilities (33.51 million), and business trusts (63,200).
The Star
17 hours ago
- Business
- The Star
Bursa sees further profit-taking ahead of US tech earnings, Fed decision
KUALA LUMPUR: There was a some profit-taking on Bursa Malaysia, matching the mood on Wall Street ahead of a slew of big US tech earnings and an interest rate announcement from the Federal Reserve. The FBM KLCI was down 1.43 points to 1,523.82 in the first five minutes of trading, extending the previous day's fall as a cautious mood overtook regional markets amid ongoing tariff discussions. According to TA Securities' morning commentary, the investor sentiment is expected to remain cautious in the lead-up to a key interest rate decision and the release of crucial economic data this week. Rakuten Trade, meanwhile, said it believed the previous day's sell-down was owing to foreign funds taking the opportunity to lock in profits after the recent run-up. However, it said the selling was excessive, and expected an immediate rebound. A failure to rebound, it said, could lead to another consolidation phase. "For today, we expect the index to trend between the 1,520-1,530 range," it added. In early price movements, Nestle shed RM1 to RM86.80 as investors continued to take nibble at profit after the recent strong rally. Heineken fell 20 sen to RM23.70, Sunway shed six sen to RM4.82 and Pentamaster dropped six sen to RM3.48. Of actives, NexG was flat at 53 sen, Pharmaniaga slipped one sen ot 17 sen and TWL was unchanged at 2.5 sen.
Malay Mail
2 days ago
- Business
- Malay Mail
Bursa opens higher as Thailand-Cambodia truce calms regional nerves
KUALA LUMPUR, July 29 — Bursa Malaysia opened slightly higher on Tuesday, supported by mild bargain hunting as the Thailand-Cambodia truce helped ease regional political concerns. At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.29 points, or 0.08 per cent, to 1,530.67 from Monday's close of 1,529.38. The benchmark index had opened 0.20 of a point firmer at 1,529.58. Market breadth was slightly negative, with decliners leading gainers 171 to 137. A total of 288 counters were unchanged, 1,925 untraded, and 44 suspended. Turnover stood at 231.67 million shares worth RM112.10 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI could attract further bargain hunting following the unconditional ceasefire agreement between Thailand and Cambodia. He said this was supported by the diplomatic efforts of Prime Minister Datuk Seri Anwar Ibrahim, who brokered the agreement between both countries. Anwar announced the ceasefire after chairing a special meeting on Monday at Putrajaya, attended by Cambodian Prime Minister Hun Manet and Thailand's acting Prime Minister Phumtham Wechayachai. Meanwhile, Thong said Bank Negara Malaysia's (BNM) downward revision of the 2025 gross domestic product (GDP) growth forecast would likely have minimal impact on the local market. He noted that the earlier cut in the overnight policy rate (OPR) could help cushion the impact of the GDP revision, as investor focus shifts to corporate earnings. 'There will likely be no significant reaction unless there is a major upgrade to the GDP outlook. 'As such, we expect the index to hover between the 1,530 and 1,545 range today,' he told Bernama. Among the heavyweights, Maybank rose one sen to RM9.55, Tenaga Nasional gained eight sen to RM13.44, while CIMB eased two sen to RM6.73. Public Bank and IHH Healthcare were flat at RM4.25 and RM6.66, respectively. On the actively traded list, ACE Market debutant Oxford Innotech climbed nine sen to 38 sen, NexG and TWL were unchanged at 53 sen and 2.5 sen, Ekovest shed 3.5 sen to 40.5 sen, and Pharmaniaga fell 2.5 sen to 19 sen. Top gainers included Kuala Lumpur Kepong, which advanced 24 sen to RM20.04; Hong Leong Industries, up 12 sen to RM13.12; and DKLS Industries, which rose five sen to RM1.85. Among the top losers, Nestle slipped 90 sen to RM87.10, and United Plantations declined 12 sen to RM21.78. On the broader market, the FBM Emas Index rose 5.18 points to 11,477.38, the FBMT 100 Index added 7.83 points to 11,240.28, and the FBM Emas Shariah Index gained 8.80 points to 11,498.84. The FBM 70 Index edged up 4.23 points to 16,534.64, while the FBM ACE Index inched up 3.39 points to 4,639.99. Sector-wise, the Financial Services Index added 0.15 of a point to 17,408.52, the Industrial Products and Services Index was up 0.07 of a point at 157.46, the Energy Index fell 2.05 points to 738.74, and the Plantation Index dropped 21.02 points to 7,442.21. — Bernama
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
Bursa ends lower ahead of US tariff deadline
KUALA LUMPUR : Bursa Malaysia pared earlier gains to close lower today, as investors adopted a more cautious posture ahead of the US tariff negotiation deadline on Aug 1. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Sedek Jantan noted that the FTSE Bursa Malaysia KLCI (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 amid 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. Sedek noted that regional peers delivered a mixed performance today, weighed by profit-taking and concerns over global trade developments. Hong Kong's Hang Seng Index gained 0.68% to close at 25,562.13, South Korea's Kospi garnered 0.42% to 3,209.52, while Singapore's Straits Times Index lost 0.27% to 4,249.48, and Japan's Nikkei 225 shed 1.10% to 40,998.27. Meanwhile, Rakuten Trade Sdn Bhd's 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. At 5pm, the FBM KLCI fell 4.38 points, or 0.29%, 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 3 billion units worth RM2.3 billion from 2.86 billion shares worth RM2.16 billion on Friday. 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 0.5 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 each 10 sen higher at RM29 and RM1.1, respectively. United Plantations dropped 32 sen to RM21.90, and Petronas Dagangan lost 26 sen to RM21.44. 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. Warrants 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 (469.3 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).
Malay Mail
7 days ago
- Business
- Malay Mail
Bursa opens higher, KLCI breaches 1,530 mark on US-China trade optimism, Anwar's policy boost
KUALA LUMPUR, July 24 — Bursa Malaysia opened higher today, with the benchmark index breaching the 1,530 level after three days of choppy trading, supported by optimism over US-China trade talks and improved domestic sentiment following recent policy announcements. At 9.06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.48 points to 1,531.27, from yesterday's close of 1,529.79. The index opened 1.26 points firmer at 1,531.05. Turnover totalled 174.73 million shares worth RM85.33 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI closed near the 1,530 level on Wednesday, supported by Prime Minister Datuk Seri Anwar Ibrahim's positive announcements for all Malaysians. 'This is certainly a surprising feel-good factor, possibly intended to ease the Sales and Services Tax burden going forward. Whether this momentum is sustainable remains to be seen, but we expect the index to trade within the 1,530–1,540 range today,' he told Bernama. On the global front, Thong said Wall Street ended broadly higher as confidence grew over the latest progress in trade talks. Meanwhile, the US 10-year Treasury yield eased to 4.384 per cent. In Hong Kong, the Hang Seng Index surged to a three-and-a-half-year high, fuelled by optimism that fresh US-China trade talks are progressing positively, following the recently concluded US-Japan agreement. Among heavyweight counters, Maybank, 99 SpeedMart and SD Guthrie each added three sen to RM9.62, RM2.37 and RM4.78, respectively. PPB rose 17 sen to RM9.47, while Petronas Chemicals gained two sen to RM3.39. Top gainers were led by Nestle, which jumped 60 sen to RM77.50. United Plantations added 20 sen to RM22.00, Hong Leong Industries rose six sen to RM15.96, and Unisem gained five sen to RM2.26. Active counters were led by NexG and TWL, which were unchanged at 52 sen and 2.5 sen, respectively. Sunzen Warrant added half a sen to 10 sen, TT Vision advanced 3.5 sen to 60 sen, while SFP Technologies and Notion Vtec each gained one sen to 20.5 sen and 60.5 sen, respectively. On the broader index board, the FBM Emas Index rose 13.47 points to 11,508.02, the FBMT 100 Index gained 11.75 points to 11,265.91, and the FBM Emas Shariah Index advanced 11.34 points to 11,527.82. The FBM 70 Index was up 21.17 points at 16,665.26, while the FBM ACE Index added 2.25 points to 4,667.30. By sector, the Financial Services Index increased 27.47 points to 17,457.72, the Energy Index dipped 0.92 of a point to 742.26, the Plantation Index rose 16.49 points to 7,427.93, and the Industrial Products and Services Index edged up 0.04 of a point to 155.47. — Bernama
