Latest news with #Thong
New Straits Times
7 days ago
- Business
- New Straits Times
Selective accumulation lifts Bursa Malaysia at opening
KUALA LUMPUR: Bursa Malaysia opened marginally higher today, supported by value-seeking investors engaging in selective accumulation. At 9.06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.63 of a point to 1,520.03 from yesterday's close of 1,519.40. At the opening bell, the benchmark index was 0.08 of a point higher at 1,519.48. Turnover stood at 126.93 million shares, valued at RM68.23 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI closed lower yesterday in tandem with the weak regional performance. "However, we expect value-seeking investors to continue supporting the market through selective accumulation. Hence, we anticipate the benchmark index to consolidate within the 1,510–1,520 range today," he told Bernama. On the global front, Thong said Wall Street closed mixed, with the S&P 500 hitting another record high at 6,309.62 (+0.06 per cent) as investors digested a new batch of earnings, including a tariff warning from General Motors. The Dow rose 0.4 per cent, while the Nasdaq slipped 0.39 per cent ahead of key earnings reports from major tech giants. Among the heavyweight counters, Maybank added four sen to RM9.57, Tenaga Nasional was two sen better at RM13.80, CIMB improved one sen to RM6.56, Public Bank lost three sen to RM4.28, while CelcomDigi and Press Metal were flat at RM3.79 and RM5.21, respectively. Active counters were led by NexG, followed by Enproserve, with both accumulating 1.5 sen each to 52 sen and 28 sen, respectively. PRG advanced half-a-sen to 9.5 sen, Eco-Shop added one sen to RM1.32, while EA Holdings was down half-a-sen to half-a-sen. On the broader index board, the FBM Emas Index was 13.04 points higher at 11,432.77, the FBMT 100 Index rose 10.54 points to 11,192.48, and the FBM Emas Shariah Index was up 7.64 points to 11,454.99. The FBM 70 Index gained 41.42 points to 16,597.29, while the FBM ACE Index trimmed 7.19 points to 4,617.41. By sector, the Financial Services Index put on 36.2 points to 17,346.87, the Energy Index edged down 0.46 of a point to 739.71, and the Plantation Index improved 12.40 points to 7,408.55. The Industrial Products and Services Index rose 0.11 of a point to 154.15.
Malaysian Reserve
7 days ago
- Business
- Malaysian Reserve
Selective accumulation lifts Bursa Malaysia at opening
BURSA MALAYSIA opened marginally higher today, supported by value-seeking investors engaging in selective accumulation. At 9.06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.63 of a point to 1,520.03 from yesterday's close of 1,519.40. At the opening bell, the benchmark index was 0.08 of a point higher at 1,519.48. Turnover stood at 126.93 million shares, valued at RM68.23 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI closed lower yesterday in tandem with the weak regional performance. 'However, we expect value-seeking investors to continue supporting the market through selective accumulation. Hence, we anticipate the benchmark index to consolidate within the 1,510–1,520 range today,' he told Bernama. On the global front, Thong said Wall Street closed mixed, with the S&P 500 hitting another record high at 6,309.62 (+0.06 per cent) as investors digested a new batch of earnings, including a tariff warning from General Motors. The Dow rose 0.4 per cent, while the Nasdaq slipped 0.39 per cent ahead of key earnings reports from major tech giants. Among the heavyweight counters, Maybank added four sen to RM9.57, Tenaga Nasional was two sen better at RM13.80, CIMB improved one sen to RM6.56, Public Bank lost three sen to RM4.28, while CelcomDigi and Press Metal were flat at RM3.79 and RM5.21, respectively. Active counters were led by NexG, followed by Enproserve, with both accumulating 1.5 sen each to 52 sen and 28 sen, respectively. PRG advanced half-a-sen to 9.5 sen, Eco-Shop added one sen to RM1.32, while EA Holdings was down half-a-sen to half-a-sen. On the broader index board, the FBM Emas Index was 13.04 points higher at 11,432.77, the FBMT 100 Index rose 10.54 points to 11,192.48, and the FBM Emas Shariah Index was up 7.64 points to 11,454.99. The FBM 70 Index gained 41.42 points to 16,597.29, while the FBM ACE Index trimmed 7.19 points to 4,617.41. By sector, the Financial Services Index put on 36.2 points to 17,346.87, the Energy Index edged down 0.46 of a point to 739.71, and the Plantation Index improved 12.40 points to 7,408.55. The Industrial Products and Services Index rose 0.11 of a point to 154.15. — BERNAMA
Business Insider
20-07-2025
- Business
- Business Insider
New Buy Rating for Panasonic (PCRFF), the Technology Giant
Macquarie analyst Damian Thong maintained a Buy rating on Panasonic on July 18 and set a price target of Yen2,500.00. The company's shares closed last Friday at $9.59. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Thong covers the Technology sector, focusing on stocks such as Advantest, Sony, and Disco. According to TipRanks, Thong has an average return of 16.5% and a 67.31% success rate on recommended stocks. Panasonic has an analyst consensus of Strong Buy, with a price target consensus of $15.72, a 63.92% upside from current levels. In a report released on July 3, Citi also maintained a Buy rating on the stock with a Yen2,200.00 price target.
New Straits Times
18-07-2025
- Business
- New Straits Times
Bursa Malaysia ends higher on bargain hunting
KUALA LUMPUR: Bursa Malaysia ended the week on a higher note as bargain hunting continued following the heavy sell-off earlier this week, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.92 points or 0.32 per cent to 1,525.86 from Thursday's close of 1,520.94. The benchmark index opened 2.03 points higher at 1,522.97 and moved between 1,522.97 and 1,529.52 throughout the trading session. The market breadth was positive, with 621 gainers overtaking 393 decliners and 511 counters unchanged, while 933 were untraded and eight suspended. Turnover slightly improved to 3.18 billion shares worth RM2.81 billion, compared with 3.17 billion shares valued at RM2.48 billion on Thursday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices also trended higher thanks to strong earnings from technology companies. Taiwan Semiconductor Manufacturing Company's (TSMC) second quarter (2Q) earnings soared nearly 61 per cent year-on-year to a new record, fuelled by sustained strength in artificial intelligence (AI) chip demand. However, the Japanese stocks were on a downtrend as inflation data came in slightly higher than expected. Thong said sentiment remained fragile for the local bourse as the index failed to re-capture the 1,530 level. "Investors are also reluctant to hold long positions due to many external uncertainties," he told Bernama. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the closing performance by the FBM KLCI was, however, insufficient to lift the index into positive territory on a weekly basis. On a Friday-to-Friday comparison, he noted the index registered a marginal decline of 0.66 per cent. In today's session, industrial products led the gainers, supported by an improving economic outlook for Malaysia, which appears to have alleviated investor concerns over potential economic headwinds stemming from uncertain trade policies and ongoing geopolitical risks. Commenting on the gross domestic product (GDP), the data released today showed Malaysia's advanced estimate for second-quarter GDP coming in at 4.5 per cent, slightly ahead of its projection of 4.3 per cent, reinforcing the resilience of the domestic economy despite persistent external challenges. "The improved sentiment was further buoyed by stronger-than-expected US macroeconomic data overnight. "Notably, US retail sales rose by 0.6 per cent in June, while initial jobless claims fell for the fifth consecutive week to their lowest level since mid-April - both signalling sustained strength in the American labour market. Of the heavyweight stocks, Public Bank and Press Metal Aluminium rose 6.0 sen each to RM4.31 and RM5.13, Gamuda gained 18 sen to RM5.33, Sunway added 7.0 sen to RM5.06 and IHH Healthcare was up 4.0 sen to RM6.57. Among the most active stocks, ACE Market debutant Enproserve Group was 2.5 sen higher at 26.5 sen, NexG added half-a-sen to 49.5 sen, Zetrix AI and Tanco gained 1.0 sen each to 94.5 sen and 91 sen and iCents advanced 2.0 sen to 36 sen.
The Star
13-07-2025
- Business
- The Star
Bursa Malaysia seen trading range-bound with upside bias this week
KUALA LUMPUR (Bernama): Bursa Malaysia is expected to trade in cautious modet this week, but with an upside bias, with the US tariff deal deadline on July 9 in focus, analysts said. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng anticipates the FTSE Bursa Malaysia KLCI (FBM KLCI) to trend within the range of 1,530-1,560 points, representing its support and resistance levels. "The benchmark index has broken out of its consolidation range with strong volume, climbing above critical moving averages. "A bullish exponential moving average crossover and strengthening moving average convergence/divergence indicator, along with a relative strength index that has yet to peak, strengthen the case for a shift toward a more bullish trend,' he told Bernama. Echoing Thong, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research, Mohd Sedek Jantan, said the local bourse is expected to experience heightened caution and intermittent volatility ahead, as investors closely monitor the evolving landscape of global trade policy. "Particular attention is centred on the 'Liberation Day' US tariff deadline of July 9, when elevated tariffs -ranging from 20 to 30 per cent- are expected to be reinstated on countries without formalised bilateral trade deals. "Malaysia, among others, may face renewed uncertainty should negotiations remain unresolved. US President Donald Trump has indicated that official notifications outlining new tariff rates will be issued imminently to affected trade partners,' he said. On a weekly basis, the barometer index advanced 22.03 points to 1,550.19 from 1,528.16 in the preceding week. The FBM Emas Index expanded 218.92 points to 11,617.72, the FBMT 100 Index rose 209.34 points to 11,390.70, and the FBM Emas Shariah Index garnered 276.69 points to 11,617.82. The FBM 70 Index climbed 516.38 points to 16,787.04, and the FBM ACE Index rose 51.64 points to 4,526.40. Across sectors, the Financial Services Index went up 54.12 points to 17,791.22, the Plantation Index surged 119.72 points to 7,448.74, and the Energy Index gained 8.93 points to 741.61. Turnover for the shortened trading week increased to 17.25 billion units worth RM12.62 billion from 11.68 billion units worth RM8.45 billion in the preceding week. The Main Market volume advanced to 9.22 billion units valued at RM11.41 billion against 5.40 billion units valued at RM7.39 billion previously. Warrant turnover improved to 6.62 billion units worth RM772.30 million versus 4.96 billion units worth RM655.61 million a week ago. The ACE Market volume ticked up to 1.40 billion units valued at RM437.52 million compared with 1.07 billion units valued at RM399.48 million a week earlier. - Bernama
