Tuesday, May 2nd, 2017
NEW YORK, May 2 ― Wall Street was little changed today, with the Nasdaq Composite edging lower after eking out another record high, as the Federal Reserve’s meeting kicks off. While the Fed is widely expected to stand pat on interest rates,…
NEW YORK, May 2 ― MasterCard Inc, the world’s second-largest payments network, reported higher-than-expected quarterly profit and revenue as people spent more using credit and debit cards. MasterCard’s net income rose 12.7 per cent to…
Manulife Asset Management Services Bhd today declared income distributions for two of its equity unit trust funds for the financial year ended 30 April 2017. All unit holders who maintained their units in Manulife Investment Dividend Fund (an income fund) and Manulife Investment Shariah Progress Fund (an Islamic small-cap fund) as at 25 April 2017 are entitled to receive the distributions, which represent distribution yields of 7.56% and 7.72% respectively. Manulife declared a gross distributions of 2.70 sen per unit for Manulife Investment Dividend Fund and 2.85 sen per unitRead More
KUALA LUMPUR, May 2 ― The ringgit closed higher against the US dollar on better demand for the local note as the market expects the US Federal Reserve to leave interest rates unchanged for the time being. At 6 pm, the local note was quoted at…
LONDON, May 2 ― Bitcoin surged to an all-time high above US$1,400 (RM6,059) today, after more than tripling in value over the past year, with its most recent rise attributed to strong demand in Japan, where the digital currency has been deemed a…
KUALA LUMPUR, May 2 ― Foreign-led buying in finance-related and large-capitalised stocks has pushed Bursa Malaysia to close at over one-year high since April 15, 2016, showing signs that the key index may possibly exceed the 1,800-level within…
KUALA LUMPUR: Foreign-led buying in finance-related and large-capitalised stocks has pushed Bursa Malaysia to close at over one-year high since April 15, 2016, showing signs that the key index may possibly exceed the 1,800-level within the second quarter of the year, says a dealer.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) finished 10.41 points higher at 1,778.47 from Friday's close of 1,768.06.
The index opened 1.10 points higher at 1,769.16 and moved between 1,769.16 and 1,781.55 throughout the day.
On the broader market, gainers outpaced losers 594 to 411, with 329 counters unchanged, 416 untraded and 18 others suspended.
Volume rose to 3.88 billion units worth RM3.48 billion from 3.10 billion units valued at RM2.89 billion last Friday.
The market was closed on Monday for the Labour Day public holiday.
Inter- Pacific Securities Sdn Bhd's Head of Research Pong Teng Siew said the surge in gainers, especially finance and large-cap stocks, appeared to be foreign led-buying.
“The net foreign buying on the local bourse has been pretty steady since mid-December last year, making Bursa Malaysia’s performance stronger than expected,” he told Bernama.
Apart from that, he said the bullish performance on the local bourse was also in line with the strong regional market, which reacted positively to the upbeat overnight Wall Street, with the S&P 500 gaining 0.17% and Nasdaq Composite putting on 0.73%.
Regionally, Japan's Nikkei 225 rose 135.18 points to 19,445.70, Hong Kong's Hang Seng improved 81.0 points to 24,696.13 and Singapore's Straits Times was 35.67 points higher at 3,211.11.
“The strengthening of the ringgit against the US dollar, which saw an increase of about 0.3% today, also bolstered the inflow of foreign funds into the country,” he added.
Of the finance-related heavyweights, Maybank gained two sen to RM9.60, Public Bank jumped 28 sen to RM20.24 and CIMB advanced 14 sen to to RM5.88.
Among other heavyweights, IHH perked one sen to RM6.19 and Maxis rose six sen to RM6.44.
Of the actives, DNex improved 6.5 sen to 66.5 sen and its warrant inched up two sen to 35 sen, AAX added three sen to 48 sen and XOX was 1.5 sen higher at 14 sen.
The FBM Emas Index increased 78.78 points to 12,710.30, the FBMT100 Index leapt 75.47 points to 12,334.73 and the FBM Emas Syariah Index perked 27.39 points to 12,999.88.
The FBM 70 was 105.24 points higher at 15,186.21 and the FBM Ace gained 31.39 points to 6,273.55.
Sector-wise, the Finance Index surged 170.74 points to 16,471.91, the Industrial Index was 20.81 points higher at 3,239.98 but the Plantation Index shed 29.28 points to 8,068.06.
Main Market turnover rose to 2.55 billion units worth RM3.29 billion from 1.89 billion units worth RM2.72 billion last Friday.
Volume on the ACE Market improved to 942.33 million shares worth RM154.47 million from last Friday's 893.22 million shares worth RM144.09 million.
Warrants expanded to 355.59 million units valued at RM40.55 million from 290.36 million units worth RM33.00 million last Friday.
Consumer products accounted for 120.09 million shares traded on the Main Market, industrial products (492.82 million), construction (184.90 million), trade and services (1.0 billion), technology (269.83 million), infrastructure (16.77 million), SPAC (3.66 million ), finance (117.73 million), hotels (1.60 million), properties (261.27 million), plantations (63.87 million), mining 127,000), REITs (12.94 million), and closed/fund (147,600).
The physical price of gold as at 5pm stood at RM168.93 per gramme, down RM2.09 from RM171.02 at 5pm last Friday. — Bernama
KUALA LUMPUR: Digital identity and business solutions company Iris Corp Bhd will be partnering with US authentication and digital security company TruTag Technologies Inc to look into the potential for smartcard and secure label applications globally.
Both parties today signed a letter of intent (LoI) to jointly develop smartcard and secure label applications to help enhance traceability and security document identification, eliminate counterfeit products and improve supply chain visibility.
“This collaboration is actually to build and enhance the current technology that Iris has. So we gonna work together and create more products that are suitable for Malaysian market and we are also targeting Southeast Asia,” Iris acting CEO Choong Choo Hock said at the signing ceremony here today.
Felda, which holds a 21.33% equity stake in Iris through Felda Investment Corp Sdn Bhd (FIC), is positive on the partnership between the two companies.
Felda new chairman Tan Sri Shahrir Samad who witnessed the signing event said that the proposal will be discussed by the boards of Felda and FIC to map out the potential markets and sectors to target.
TruTag is the only company in the world with covert and edible optical memory microtags that can be applied to both consumables (pharmaceuticals, food and beverage) and secure documents.
LONDON (May 2): Emerging stocks hit a 20-month high on Tuesday, lifted by a global tech stock rally and easing geopolitical concerns, while the main…