Monday, April 17th, 2017

 

Quarles said to be Trump pick for Fed’s top regulatory post

WASHINGTON, April 17 — President Donald Trump plans to nominate Randal Quarles, a senior Treasury official in the Bush administration, to be the Federal Reserve’s top banking regulator, according to a person familiar with the selection…


US dollar down, gold gains on global risks; US stocks inch up

NEW YORK, April 17 — Geopolitical tensions over North Korea pressured the dollar against the yen and lifted gold prices today, while US stocks edged higher after three straight days of losses. North Korea made a failed missile test launch…


Buffett’s Berkshire, Chinese property portal Juwai.com team up

NEW YORK, April 17 — Berkshire Hathaway HomeServices today said it entered a marketing agreement with Juwai.com, China’s largest international property website, to attract wealthy Chinese buyers looking to purchase homes in the United States….


Trend remaja berhibur, bawa dadah ke Danok membimbangkan

BUKIT KAYU HITAM, 17 April — Trend remaja termasuk penuntut institut pengajian tinggi membawa dadah sintetik dipercayai untuk ‘berhibur’ di pekan kecil Danok, Selatan Thailand adalah membimbangkan. Komander Agensi Kawalan Keselamatan…


Treasuries extend gain as US dollar drops; gold rises

NEW YORK, April 17 — Treasuries extended their rally as soft inflation data from the US fed into markets after the long weekend, and the dollar fell. Lingering geopolitical concerns in Asia offset upbeat economic data from China, ensuring haven…


Crude oil slips below US$53 as US drilling surge stokes output fears

LONDON, April 17 — Oil declined below US$53 (RM233) a barrel as the US continued to ramp up drilling, stoking concern that the nation’s surge in output this year will offset Opec-led efforts to cut a global supply surplus. Futures fell as…


Petronas lubricants to increase motorcycle oil product volume to 3pc this year

SEPANG, April 17 — Petronas Dagangan Bhd’s unit, Petronas Lubricants Marketing (M) Sdn Bhd (PLMM),  is confident of increasing its motorcycle oil (MCO) product volume to three per cent this year with the newly launched motorcycle oil, Petronas…


Banks, consumer stocks lift Bursa Malaysia firmer

KUALA LUMPUR: Bursa Malaysia closed on a firm note today, spurred by persistent buying momentum in selected bluechips, as well as banking and consumer-related stocks.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) finished 2.94 points higher at 1,733.93 compared to last Friday's close of 1,730.99.

The key index, which opened 0.14 of-a-point better at 1,731.13, hovered between 1,729.13 and 1,736.29 throughout the day.

Maybank and CIMB were the two largest contributors to the rise in the composite index with a combined total of 2.26 points.

Among banking stocks, Maybank and CIMB rose seven sen each to RM9.02 and RM5.45 respectively, RHB Bank perked four sen to RM5.10, AMMB gained three sen to RM4.88, and Public Bank added two sen to RM19.92.

As for consumer stocks, Dutch Lady, which also the day's biggest gainer, soared 52 sen to RM57.18, Nestle edged up 42 sen to RM80.76, Ajinomoto chalked up 36 sen to RM17.50, BAT improved 20 sen to RM47.00, while Fraser & Neave gained 18 sen to RM24.08.

A dealer said investors accumulated selected attractive stocks amid a defensive stance on the back of mixed sentiment on the global market.

He said bargain hunting for consumers and selected blue chips, which are now cheaper to buy given the recent sell-off due to the geopolitical tension in Syria, also emerged today to support the performance and bucked the trend on some regional markets' trend.

On other regional bourses, Hong Kong's Hang Seng Index trimmed 0.21% to 24,261.66, Singapore's Straits Times Index fell 0.98% to 3,138.30 and Jakarta's Composite Index declined 0.7% to 5,577.49.

However, Japan's Nikkei 225 increased 0.11% to 18,355.26 and Korea's KOSPI Index rose 0.51% to 2,145.76.

Etiqa Insurance and Takaful, Head of Research Chris Eng told Bernama, demand on the local bourse was also partly influenced by the better-than-expected economic data from China, which helped ease worries over the health of the world's second largest economy.

Overall market breadth was positive with gainers thumping losers 456 to 397, while 381 counters were unchanged, 509 untraded and 16 others suspended.

Volume declined to 2.89 billion units valued at RM1.78 billion, from last Friday's 3.15 billion units worth RM1.86 billion

The FBM Emas Index rose 26.47 points to 12,334.6, the FBMT100 Index improved 24.43 points to 11,972.55 and the FBM 70 chalked up 45.27 points to 14,540.56.

The FBM Ace advanced 48.39 points to 6,050.01 and the FBM Emas Syariah Index increased 22.6 points to 12,782.

Sector-wise, the Finance Index surged 86.61 points to 15,651.32, the Plantation Index perked 12.12 points to 7,926.15 and the Industrial Index inched up 0.59 of a point to 3,237.75.

Of the heavyweights, Sime Darby and Maxis added one sen each to RM9.28 and RM6.43 respectively, but Petronas Chemicals slipped one sen to RM7.59. Tenaga, however, was flat at RM13.70.

Among actives, Key Alliance gained one sen to 8.5 sen, but Borneo Oil was flat at 19 sen.

Bursa Malaysia Securities has issued an Unusual Market Activity query to Anzo Holdings Bhd due to the sharp fall in the company's share price and rise in volume recently.

Anzo was last traded at 36 sen with 127.64 million shares changing hands.

Main Market turnover declined to 2.09 billion units valued at RM1.67 billion from last Friday's 2.19 billion units worth RM1.71 billion.

Volume on the ACE Market contracted to 660.85 million shares valued at RM95.73 million from 777.62 million shares worth RM127.05 million.

Warrants declined to 106.3 million units valued at RM11.57 million from 165.75 million units worth RM17.39 million.

Consumer products accounted for 109.27 million shares traded on the Main Market, industrial products (501.08 million), construction (138.06 million), trade and services (692.28 million), technology (103.2 million), infrastructure (3.18 million), SPAC (4.0 million), finance (56.67 million), hotels (4.26 million), properties (423.43 million), plantations (51.27 million), mining (nil), REITs (6.09 million) and closed/fund (64,000).

The physical price of gold as at 5pm stood at RM176.58 per gramme, up 31 sen from RM176.27 at 5pm last Friday. — Bernama


Malaysian ringgit climbs against US dollar

KUALA LUMPUR, April 17 — The Malaysian ringgit closed higher against the US dollar today as traders shifted their interests to Asian currencies, including the ringgit, prompted by geopolitical tensions. At 6pm, the local unit stood at…


Banks, consumer stocks lift Malaysian stock market firmer

KUALA LUMPUR, April 17 — Malaysian stock market (Bursa Malaysia) closed on a firm note today, spurred by persistent buying momentum in selected bluechips, as well as banking and consumer-related stocks. At 5pm, the FTSE Bursa Malaysia KLCI…