Latest news with #ThongPakLeng
The Star
2 hours ago
- Business
- The Star
KLCI climbs on tech and PETRONAS-linked gains
Rakuten Trade's Thong said the benchmark index continues to show strength, supported by steady net foreign inflows and sustained interest in heavyweight counters. KUALA LUMPUR: Persistent buying momentum, mostly seen in selected technology and Petroliam Nasional Bhd (PETRONAS)-linked counters pushed the FBM KLCI to record another intraday high at the close yesterday, extending its rally to five consecutive trading sessions, an analyst says. Malaysian Pacific Industries Bhd and Petronas Dagangan Bhd were among the top two gainers, rising RM1 and 44 sen to RM22.40 and RM21.70, respectively. At 5pm, the FBM KLCI rose 8.68 points, or 0.56%, to end at 1,550.21 from Tuesday's close of 1,541.53. The benchmark index opened 1.8 points lower at 1,539.73 and subsequently hit its lowest level of 1,539.18 in early trade. The broader market was broadly positive with 531 gainers outpacing 442 decliners, while 498 counters were unchanged, 920 untraded and 14 suspended. Turnover rose to 3.11 billion units worth RM2.38bil against 2.05 billion units worth RM2.15bil on Tuesday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices closed mixed as investors weighed recent remarks by US Federal Reserve chair Jerome Powell, who noted that rate cuts would likely have occurred if not for President Donald Trump's tariff policies. 'In addition, there is growing investor speculation about a possible US-Japan agreement, even as Trump repeated his threat of 30% to 35% tariffs on Japanese products,' he told Bernama. On the domestic front, he said the benchmark index continues to show strength, supported by steady net foreign inflows and sustained interest in heavyweight counters. 'With a solid technical foundation above the 1,530 level, we raise our weekly target to 1,530-1,560, anticipating that the index will remain firm within this range barring any unforeseen circumstances,' he said. Among heavyweights, Malayan Banking Bhd increased four sen to RM9.76, Public Bank Bhd went up six sen to RM4.32, CIMB Group Holdings Bhd and IHH Healthcare Bhd increased three sen to RM6.78 and RM6.83, respectively, while Tenaga Nasional Bhd declined 30 sen to RM14.60. As for the most active stocks, Automation Group Bhd eased half-a-sen to 16.5 sen, Tanco Holdings Bhd and Compugates Holdings Bhd were flat at 89 sen and 1.5 sen, respectively, while YTL Corp Bhd gained eight sen to RM2.45.
New Straits Times
18 hours ago
- Business
- New Straits Times
Bursa Malaysia higher at midday break
KUALA LUMPUR: Bursa Malaysia stayed marginally higher at midday, driven by persistent buying activities in selected heavyweights, particularly the financial services as well as telecommunications and media counters. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 6.81 points to 1,548.34 from Tuesday's close of 1,541.53. The benchmark index had opened 1.80 points lower at 1,539.73. However, the broader market was slightly negative with 430 decliners leading 397 gainers, while 469 counters were unchanged, 1,095 untraded and 14 suspended. Turnover stood at 2.09 billion units worth RM1.20 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local benchmark index is expected to hover in the 1,540-1,550 range today. "Wall Street ended mixed overnight as traders rotated out of tech companies. United States (US) President Trump's One Big Beautiful Bill Act was narrowly passed in the Senate but is still subject to House approval. Meanwhile, the US 10-year yield edged slightly higher at 4.242 per cent. "On the domestic front, the FBM KLCI closed higher. We reckon this is due to some accumulation from the foreign funds. It is interesting to see net foreign inflows taking place over the past few days," he told Bernama. Among the heavyweights, Maybank and CIMB added 2.0 sen each to RM9.74 and RM6.77, respectively, Public Bank rose 4.0 sen to RM4.30 and IHH Healthcare improved 1.0 sen to RM6.81, while Tenaga Nasional declined 12 sen to RM14.78. As for the most active stocks, ASM Automation eased half-a-sen to 16.5 sen, Tanco slipped 1.0 sen to 88 sen, Gamuda gained 10 sen to RM5.07 and Compugates was flat at 1.5 sen. On the index board, the FBM Emas Index climbed 39.68 points to 11,564.27, the FBMT 100 Index garnered 39.84 points to 11,343.66, and the FBM Emas Shariah Index increased 29.49 points to 11,590.90. The FBM 70 Index advanced 14.02 points to 16,571.39, while the FBM ACE Index went down 28.46 points to 4,463.55. By sector, the Financial Services Index surged 76.27 points to 17,680.91, the Industrial Products and Services Index edged up 0.17 of-a-point to 154.47 and the Energy Index added 1.82 points to 743.36, while the Plantation Index trimmed 3.76 points to 7,398.40.
New Straits Times
2 days ago
- Business
- New Straits Times
Bursa Malaysia stays marginally higher at midday
KUALA LUMPUR: Bursa Malaysia stayed marginally higher at midday, driven by persistent buying activities in selected heavyweights, particularly in the utilities and construction counters, amid mixed sentiment among regional peers. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.65 of-a-point to 1,533.61 from Monday's close of 1,532.96. The benchmark index had opened 1.03 points higher at 1,533.99. The broader market was positive with 394 gainers outnumbering 361 decliners, while 464 counters were unchanged, 1,155 untraded and 13 suspended. Turnover stood at 1.05 billion units worth RM851.71 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said traders are optimistic that the United States will be able to strike trade deals with its partners once its 90-day tariff reprieve ends next week, noting that Wall Street ended broadly higher overnight. "Back home, the FBM KLCI closed higher at above the 1,530 mark, possibly due to the return of foreign funds," he said in a note, adding that he expects the index to trend within the 1,530-1,540 range today. Among the heavyweights, Tenaga Nasional rose 24 sen to RM14.62, while Maybank slid 1.0 sen to RM9.69, CIMB and Public Bank both dropped 4.0 sen to RM4.27 and RM6.75, respectively, and IHH Healthcare shed 3.0 sen to RM6.79. As for the most active stocks, Sapura Energy gained half-a-sen to 4.0 sen, MYEG added 1.0 sen to 96 sen, Pharmaniaga expanded 2.5 sen to 16 sen and Gamuda advanced 16 sen to RM4.95, while Tanco reduced 2.0 sen to 89.5 sen. On the index board, the FBM Emas Index climbed 15.92 points to 11,463.69, the FBMT 100 Index garnered 13.71 points to 11,243.47, and the FBM Emas Shariah Index increased 47.45 points to 11,485.69. The FBM 70 Index advanced 59.31 points to 16,458.92, while the FBM ACE Index went down 10.43 points to 4,459.50. By sector, the Financial Services Index fell 59.09 points to 17,591.49 and the Industrial Products and Services Index edged down 0.49 of-a-point to 153.34, while the Plantation Index bagged 10.78 points to 7,360.98, and the Energy Index added 3.45 points to 738.73.
New Straits Times
3 days ago
- Business
- New Straits Times
Bursa Malaysia ends higher for third straight session
KUALA LUMPUR: Bursa Malaysia maintain its upward momentum to end higher for the third consecutive session, supported by continued buying in selected industrial products and services as well as healthcare counters, an analyst said. Press Metal and IHH Healthcare were the top two gainers, rising 17 sen and 10 sen to RM5.18 and RM6.82, respectively, contributing a combined 3.90 points to the gains in the benchmark index. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.80 points, or 0.31 per cent, to 1,532.96 from last Thursday's close of 1,528.16. The FBM KLCI, which opened 5.25 points higher at 1,533.41, moved between 1,526.30 and 1,538.10 throughout the trading session. However, the broader market was negative with 531 gainers outnumbering 443 decliners, while 506 counters were unchanged, 959 untraded and 102 suspended. Turnover surged to 3.57 billion units worth RM2.68 billion against 2.90 billion units worth RM2.23 billion on Thursday last week. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said regionally, the markets were mostly higher as investors digest key data releases, including China's June purchasing managers index (PMI) readings and May industrial output from South Korea and Japan. "China's manufacturing sector shrank for a third straight month in June, raising expectations for additional stimulus amid persistent trade tensions with the United States (US)," he told Bernama. Back home, Thong noted that the local market is showing encouraging signs of recovery, marked by weakening bearish momentum, rising trading volume, and gradually improving investor sentiment. "For the moment, we anticipate the FBM KLCI to fluctuate between 1,520 and 1,550 for the week," he said. Among other heavyweights, Maybank lost 11 sen to RM9.70, Public Bank dropped 3.0 sen to RM4.31, Tenaga Nasional gained 12 sen to RM14.38, CIMB fell 1.0 sen to RM6.79, and CelcomDigi rose 3.0 sen to RM3.93. As for the most active stocks, Tanco shed 1.5 sen to 91.5 sen, MYEG and NextG each advanced 1.0 sen to 95 sen and 37 sen, respectively, Gamuda climbed 14 sen to RM4.79, and YTL Corporation put on 5.0 sen to RM2.32.
The Star
4 days ago
- Business
- The Star
Bursa Malaysia to trade in cautious mode with upside bias this week
KUALA LUMPUR (Bernama): Bursa Malaysia is expected to trade in cautious mode this week, but with an upside bias amid a constructive backdrop, as investors shift their focus away from the Middle East risks, an analyst said. SPI Asset Management managing partner Stephen Innes believed investors will concentrate on assessing upcoming macroeconomic data releases while awaiting the deadline for the United States' reciprocal tariff pause. "That said, the chances of an extension to the deadline are increasing given recent geopolitical distractions," he told Bernama, adding that market sentiment could also be supported by the possibility of a Federal Reserve rate cut at its July meeting. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng maintains a cautiously optimistic view on the FTSE Bursa Malaysia KLCI's (FBM KLCI) near-term outlook, as the index shows signs of upward momentum. "We believe that a breakout above the 1,530 level, supported by strong trading volume and sustained price action, would be a constructive signal that the market is ready to stage the next leg of its rally," he said. For the upcoming week, Thong believes that market attention will focus on several key macroeconomic releases, both locally and internationally. "In the near term, we anticipate the FBM KLCI to trade within a range of 1,510 to 1,540," he added. On a weekly basis, the barometer index advanced 25.42 points to 1,528.16 from 1,502.74 in the preceding week. The FBM Emas Index expanded 169.81 points to 11,398.80, the FBMT 100 Index 165.91 points to 11,181.36, and the FBM Emas Shariah Index garnered 139.79 points to 11,341.13. The FBM 70 Index climbed 152.91 points to 16,270.66 and the FBM ACE Index rose 73.91 points to 4,474.76. Across sectors, the Financial Services Index jumped 268.72 points to 17,737.10, the Plantation Index surged 108.50 points to 7,329.02, the Healthcare Index edged up 17.70 points to 1,709.59, and the Industrial Products and Services Index perked up 4.71 points to 151.98. However, the Energy Index declined by 3.03 points to 732.68. Turnover for the shortened trading week narrowed to 11.68 billion units worth RM8.45 billion from 13.72 billion units worth RM10.84 billion in the preceding week. The Main Market volume dropped to 5.40 billion units valued at RM7.39 billion against 6.29 billion units valued at RM9.63 billion previously. Warrants turnover tumbled to 4.96 billion units worth RM655.61 million versus 6.16 billion units worth RM845.61 million a week ago. The ACE Market volume slipped to 1.07 billion units valued at RM399.48 million compared with 1.25 billion units valued at RM361.21 million a week earlier. - Bernama
