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Free Malaysia Today
a day ago
- Business
- Free Malaysia Today
Bursa stages rebound to close at intraday high on late bargain hunting
KUALA LUMPUR : Late bargain hunting of consumer-related stocks pushed Bursa Malaysia to close at its intraday high today, allowing the market to recover losses in the previous two sessions. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said the FTSE Bursa Malaysia KLCI (FBM KLCI) closed the day on a firmer footing as the market sentiment was lifted following Prime Minister Anwar Ibrahim's announcement of a one-off RM100 cash handout, which drove renewed interest in consumer-related stocks. 'As a result, the consumer sector led gains among FBM KLCI constituents,' he told Bernama. Sedek said regional markets also posted broad-based gains, supported by improved sentiment after the US agreed to impose a reduced 15% import duty on selected Japanese goods, which exclude strategic items such as steel and aluminium, which remain subject to elevated tariffs. 'This marked a de-escalation from the previously threatened 25% levy scheduled to take effect on Aug 1 in the absence of a bilateral agreement,' he added. Similarly, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key index closed higher as major regional bourses staged a strong rebound after US president Donald Trump announced that he had completed a 'massive deal' with Japan. 'Back home, despite heightened external volatility, we believe Malaysian equities remain fundamentally resilient. The benchmark index is attempting to reclaim the 1,530 level, and a breakout supported by strong volume could pave the way for a sustained upward trajectory. 'As such, we maintain our weekly FBM KLCI target at between 1,510-1,540,' he added. Regionally, Hong Kong's Hang Seng advanced 1.13% to close at 25,413.48, Singapore's Straits Times Index improved 0.47% to 4,227.85, and South Korea's Kospi gained 0.44% to 3,183.77. Japan's Nikkei 225 rallied 3.51% to 41,171.32. At 5pm, the FBM KLCI bounced 10.39 points, or 0.68%, to close at an intraday high of 1,529.79 from yesterday's close of 1,519.40. The benchmark index opened 0.08 of a point higher at 1,519.48 and moved between 1,519.56 and 1,529.79 throughout the trading session. Gainers led losers in the broader market 627 to 387, while 496 counters were unchanged and 969 untraded, with seven suspended. Turnover jumped to 3.27 billion shares worth RM2.26 billion from 2.82 billion shares worth RM2.05 billion yesterday. Of the heavyweight stocks, Maybank earned 6 sen to RM9.59, Tenaga Nasional was 16 sen better at RM13.94, and CIMB gained 12 sen to RM6.67. IHH Healthcare improved 2 sen to RM6.62, CelcomDigi added 4 sen to RM3.83, while Public Bank dropped 2 sen to RM4.29. Among the most active stocks, NexG gained 1.5 sen to 52 sen, while Tanco and Ekovest both added 0.5 sen to to close at 91.5 sen and 39.5 sen, respectively. Zetrix was 2 sen better at 94.5 sen, and Green Packet increased 0.5 sen to 5 sen. On the index board, the FBM Emas Index climbed 74.81 points to 11,494.54, the FBMT 100 Index rose 72.22 points to 11,254.16, and the FBM Emas Shariah Index advanced 69.13 points to 11,516.48. The FBM 70 Index added 88.22 points to 16,644.09, while the FBM ACE Index gained 40.45 points to 4,665.05. Sector-wise, the financial services index bounced 119.58 points to 17,430.25, the energy index edged up 3.01 points to 743.18, the industrial products and services index rose 1.39 points to 155.43, and the plantation index gained 15.29 points to 7,411.44. The Main Market volume expanded to 1.44 billion units valued at RM1.89 billion from yesterday's 1.18 billion units valued at RM1.73 billion. Warrants turnover increased to 1.52 billion units worth RM257.66 million from 1.31 billion units worth RM205.15 million previously. The ACE Market volume slipped to 315.55 million units valued at RM97.33 million from 322.4 million units valued at RM109.22 million previously. Consumer products and services counters accounted for 248.46 million shares traded on the Main Market; industrial products and services (234.92 million), construction (157.21 million), technology (229.14 million), SPAC (nil), financial services (64.41 million), property (210.56 million), plantation (16.56 million), REITs (22.51 million), closed-end fund (9,200), energy (59.21 million), healthcare (73.52 million), telecommunications and media (61.65 million), transportation and logistics (30.99 million), utilities (29.37 million), and business trusts (285,700).
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
Bursa ends flat amid cautious sentiment, mixed domestic developments
KUALA LUMPUR : Bursa Malaysia ended almost flat today, with the key index slipping 0.08%, reflecting cautious market tone amid mixed domestic developments and bucking the broader regional trend. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said upbeat sentiment was seen across Asia. However, Thong said selling pressure continued to persist across emerging markets. 'We believe investor funds are rotating into Hong Kong and Chinese equities. 'Locally, ongoing foreign and retail selling reflects a cautious wait-and-see sentiment,' he said. Nonetheless, he said the FTSE Bursa Malaysia KLCI (FBM KLCI) is well supported above the 1,520 level. 'We reckon today's sell-down offers an opportunity to bargain hunt stocks at lower levels. 'Hence we expect the index to trend within the 1,510-1,540 level for the week,' he added. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan opined that investors are assessing news of the Malaysian Anti-Corruption Commission (MACC) probe, launched last Thursday in connection with alleged corruption involving a data centre project tender. 'Despite initial concerns, the impact of the investigation appears confined to selected counters, with no sign of broader market contagion. 'This was underscored by today's market performance, where stocks linked to data centres, telecommunications and industrials ranked among the leading gainers, indicating that investor sentiment towards these sectors remains fundamentally resilient,' he added. Sedek also said that investors are expected to adopt a selective stance, reassessing exposures within the data centre and technology sectors rather than engaging in broad-based selling. At 5pm, the FBM KLCI erased 1.27 points to 1,524.59 from last Friday's close of 1,525.86. The benchmark index was 0.60 of a point better at 1,526.86 at the opening bell and moved between 1,520.02 and 1,526.46 throughout the trading session. The market breadth was negative, with 607 losers overtaking 342 gainers and 504 counters unchanged, while 1,014 were untraded and seven suspended. Turnover improved to 3.5 billion shares worth RM2.68 billion from 3.18 billion shares worth RM2.81 billion last Friday. Of the heavyweight stocks, Maybank and Tenaga Nasional were flat at RM9.52 and RM13.78 respectively, Public Bank was 1 sen lower at RM4.30, CIMB rose 1 sen to RM6.52 and IHH advanced 6 sen to RM6.63. Among the most active stocks, SunCon was 49 sen lower at RM5.49, NexG gained 1 sen to 50.5 sen, Pharmaniaga advanced 6.5 sen to 22 sen, while Tanco lost 0.5 sen to 90.5 sen. On the broader index board, the FBM Emas Index fell 17.90 points to 11,461.93, the FBMT 100 Index shed 16.87 points to 11,224.82, and the FBM Emas Shariah Index dropped 28.16 points to 11,509.71. The FBM 70 Index dipped 57.84 points to 16,639.88, while the FBM ACE Index trimmed 34.11 points to 4,637.68. By sector, the industrial products and services index improved 0.26 of a point to 155.64 and the energy index edged up 0.37 of a point to 739.50. However, the financial services index decreased 34.42 points to 17,320.41 and the plantation index slipped 20.85 points to 7,421.04. The Main Market volume narrowed to 1.38 billion units valued at RM2.27 billion from 1.50 billion units valued at RM2.46 billion last Friday. Warrants turnover increased to 1.75 billion units worth RM265.26 million from 1.38 billion units valued at RM207.39 million previously. The ACE Market volume reduced to 363 million units valued at RM147.63 million from 466.10 million units valued at RM188.24 million previously. Consumer products and services counters accounted for 172.67 million shares traded on the Main Market; industrial products and services (201.75 million), construction (228.01 million), technology (236.68 million), SPAC (nil), financial services (47.02 million), property (195 million), plantation (9.49 million), REITs (25.75 million), closed-end fund (12,600), energy (64.33 million), healthcare (125.75 million), telecommunications and media (24.55 million), transportation and logistics (23.96 million), utilities (23.55 million), and business trusts (33,500).
Free Malaysia Today
15-07-2025
- Business
- Free Malaysia Today
Bursa ends at intraday low on selective heavyweight selling
KUALA LUMPUR : Bursa Malaysia ended at an intraday low today due to persistent selling in selected heavyweights, led by the financial services and construction sectors. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Sedek Jantan said the FTSE Bursa Malaysia KLCI's (FBM KLCI) drop today reflected a cautious undertone among investors despite an improvement in broader market sentiment. 'Investor focus remains firmly on the progress of the US-Malaysia tariff negotiations, with the Aug 1 deadline for the imposition of a 25% import duty drawing near. 'The market appears to be factoring in a drawn-out negotiation process, contributing to prevailing risk aversion,' he told Bernama. Meanwhile, he said the investment, trade and industry ministry's (Miti) announcement on trade permit for artificial intelligence (AI) chips is a welcome step towards regulatory clarity, while persistent concerns over potential US export controls on AI chip shipments to Malaysia continue to cast a shadow over sentiment, particularly within the technology and semiconductor sectors. 'Nonetheless, from a medium to longer-term perspective, we see the strengthening of governance and compliance standards as a positive structural shift that may enhance Malaysia's competitive positioning within global value chains, potentially serving as a future catalyst for investor confidence,' he added. At 5pm, the FBM KLCI fell 12.11 points or 0.79% to 1,525.40 from yesterday's close of 1,537.51. Public Bank eased eight sen to RM4.26, Maybank slid seven sen to RM9.65 and Gamuda gave up 13 sen to RM4.96. These counters dragged the composite index down by 5.42 points. The benchmark index opened 1.45 points lower at 1,536.06 and hovered between 1,525.40 and 1,538.56 throughout the session. The market breadth was negative, with 601 decliners outpacing 412 gainers and 498 counters unchanged, while 918 were untraded and eight suspended. Turnover improved to 3.07 billion shares worth RM2.36 billion, compared with 2.93 billion shares worth RM1.67 billion yesterday. Among other heavyweight counters, CIMB reduced six sen to RM6.63, Hong Leong Bank lost 26 sen to RM19.30, Tenaga Nasional decreased eight sen to RM13.90, 99 Speed Mart added three sen to RM2.30 and Sunway rose four sen to RM4.92. In active trade, Zetrix AI was 5.5 sen lower at 93 sen, NationGate shed 12 sen to RM1.49, Dagang NeXchange weakened one sen to 30.5 sen, NexG gained 0.5 sen to 47.5 sen while Tanco was flat at 90.5 sen. On the index board, the FBM Emas Index declined 82.38 points to 11,476.08, the FBMT 100 Index sank 83.43 points to 11,237.61 and the FBM Emas Shariah Index fell 77.42 points to 11,483.18. The FBM 70 Index dropped 98.80 points to 16,688.40, while the FBM ACE Index improved 16.10 points to 4,587.62. By sector, the financial services index dipped 161.22 points to 17,502.65, the industrial products and services index shaved 0.48 of-a-point to 153.39 and the plantation index eased 15.68 points to 7,418.42. The energy index inched down 8.46 points to 738.92. The Main Market volume rebounded to 1.44 billion units worth RM2.07 billion from 1.13 billion units valued at RM1.35 billion yesterday. Warrants turnover slipped to 1.28 billion units valued at RM172.45 million from 1.46 billion units worth RM208.01 million previously. The ACE Market volume increased to 347.59 million units valued at RM122.67 million versus 342.18 million units worth RM113.55 million yesterday. Consumer products and services counters accounted for 171.02 million shares traded on the Main Market; industrial products and services (350.21 million), construction (107.34 million), technology (365.39 million), SPAC (nil), financial services (54.91 million), property (134.33 million), plantation (13.85 million), REITs (28.72 million), closed-end fund (3,400), energy (69.98 million), healthcare (50.38 million), telecommunications and media (30.08 million), transportation and logistics (37.56 million), utilities (28.22 million), and business trusts (24,300).
Free Malaysia Today
14-07-2025
- Business
- Free Malaysia Today
Bursa holds steady to close higher, tracking regional gains
KUALA LUMPUR : Bursa Malaysia reversed last Friday's losses to close higher today, tracking gains in regional markets. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said the key index's positive performance was underpinned by stronger-than-expected trade data from China, with exports rising 5.8% year-on-year in June, well above the 3.6% 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. Sedek said 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,' he said. Meanwhile, 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 FTSE Bursa Malaysia KLCI (FBM KLCI) to trend within the range of 1,530-1,560 for the week. At 5pm, the FBM KLCI climbed 1.44 points, or 0.09%, to 1,537.51 from Friday's close of 1,536.07. The benchmark 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 RM2.3 billion last Friday. 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 0.5 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. Warrants turnover slipped to 1.46 billion units valued at RM208.01 million from 1.7 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 171.7 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).
Free Malaysia Today
10-07-2025
- Business
- Free Malaysia Today
Late buying in banking stocks lifts Bursa to intraday high
KUALA LUMPUR : Late buying of banking stocks pushed Bursa Malaysia to close at its intraday high today, with the key index gaining 0.48%, in line with improved regional sentiment. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said the FTSE Bursa Malaysia KLCI (FBM KLCI) snapped a three-day losing streak today, led by a rebound in banking stocks. 'Consumer stocks also continued their persistent uptrend, as Bank Negara Malaysia's (BNM) rate cut is expected to benefit the consumer sector through lower borrowing costs and improved discretionary spending. 'Financial equities tend to benefit from monetary policy easing, as lower borrowing costs typically boost credit demand, improve loan quality, and support economic activity. These factors enhance the earnings outlook for the banking sector,' he told Bernama. However, he noted that foreign investors remained net sellers in the local capital market, signalling ongoing caution. 'While the policy shift should, in principle, bolster investor sentiment, concerns over trade fragmentation and external headwinds continue to temper risk appetite,' he said. Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng noted that external headwinds such as the expansion of US tariffs and the ongoing tension in the Middle East continued to pose significant challenges for the local benchmark index. 'There is rising confidence that governments will reach agreements to mitigate the impact of US president Donald Trump's expanded tariff measures. 'As for the local bourse, reclaiming the 1,530 threshold marks an important technical achievement for the index. As such, we anticipate the FBM KLCI to trend within the range of 1,530-1,550 towards the weekend,' he said. At 5pm, the FBM KLCI rose 7.28 points to 1,536.52 from yesterday's close of 1,529.24. The benchmark index had earlier opened 2.19 points higher at 1,531.43 and subsequently hit its lowest level of 1,523.25 in early trade. The market breadth was positive, with 514 gainers outpacing 406 decliners. A total of 540 counters were unchanged, while 958 were untraded and 10 were suspended. Turnover rose to 3.25 billion shares worth RM2.45 billion, compared with 2.95 billion shares worth RM1.99 billion yesterday. Nestle led the consumer sector, gaining 40 sen to RM78.80, followed by Hong Leong Industries, which popped 26 sen to RM13.66. Among other heavyweight counters, Maybank gained 3 sen to RM9.73, Public Bank added 4 sen to RM4.30, and CIMB went up 13 sen to RM6.70. However, Tenaga Nasional was 4 sen lower at RM13.96, and IHH Healthcare slipped 2 sen to RM6.65. In active trade, Zetrix AI added 2.5 sen to 98 sen, while Sapura Energy, Eco-Shop and NexG were all flat at 4 sen, RM1.27 and 44.5 sen, respectively. Tanco climbed 1 sen to 90 sen. On the index board, the FBM Emas Index gained 44.11 points to 11,528.33, the FBMT 100 Index expanded 43.59 points to 11,293.13, and the FBM Emas Shariah Index added 21.85 points to 11,508.74. The FBM 70 Index increased 20.66 points to 16,655.60, while the FBM ACE Index improved 19.94 points to 4,516.57. By sector, the financial services index surged 116.89 points to 17,622.38, the industrial products and services index inched up 0.32 of a point to 153.54, while the plantation index fell 17.82 points to 7,461.26. The energy index eased 0.28 of a point to 736.62. The Main Market volume inched higher to 1.32 billion units worth RM2.17 billion from 1.31 billion units valued at RM1.74 billion yesterday. Warrants turnover rose to 1.69 billion units valued at RM190.86 million from 1.25 billion units worth RM134.91 million previously. The ACE Market volume narrowed to 241.47 million units valued at RM86.17 million, versus 382.69 million units worth RM116.98 million yesterday. Consumer products and services counters accounted for 230.09 million shares traded on the Main Market; industrial products and services (177.06 million), construction (127.04 million), technology (213.35 million), SPAC (nil), financial services (75.64 million), property (189.39 million), plantation (18.59 million), REITs (28.44 million), closed-end fund (3,000), energy (98.31 million), healthcare (49.10 million), telecommunications and media (32.35 million), transportation and logistics (25.44 million), utilities (57.80 million), and business trusts (102,200).
