Friday, May 19th, 2017
WASHINGTON, May 19 — President Donald Trump will propose US$200 billion (RM864.1 billion) in infrastructure spending over 10 years in his first budget on Tuesday — funding the administration believes will boost private, state and local…
NEW YORK, May 19 — US stocks advanced today, driven by Apple, as a sense of calm prevailed over Wall Street in a week that was dominated by political uncertainty surrounding Donald Trump’s presidency. Still, the indexes are on track for…
KUALA LUMPUR: The ringgit closed higher against the US dollar following the encouraging first-quarter (1Q17) Gross Domestic Product (GDP) growth data released today.
At 6pm, the local unit was quoted at 4.3180/3230 against the greenback from yesterday's closing of 4.3260/3290.
Malaysia's economy recorded robust growth of 5.6 per cent in 1Q17 against the 4.1 per cent in the same quarter of 2016, boosted by strong domestic demand and private expenditure.
It was the best since the corresponding quarter of 2015, which saw the GDP at 5.8 per cent.
The surprise upside of the data brought ringgit higher against most of major currencies except with the euro.
The ringgit rose against the Singapore dollar to 3.1056/1114 from 3.1062/1088 on Thursday and strengthened versus the Japanese yen to 3.8723/8782 from yesterday's 3.9203/9244.
The local unit appreciated against the British pound to 5.6177/6247 from 5.6398/6446 but contracted vis-a-vis the euro to 4.8176/8245 from 4.8096/8147 yesterday. — Bernama
HANOI, May 19 — Some renegotiation of the Trans Pacific Partnership (TPP) trade deal would be needed if it is to move ahead without the United States, Malaysian Trade Minister Datuk Seri Mustapa Mohamed said today. However, he told Reuters in…
KUALA LUMPUR, May 19 — The ringgit closed higher against the US dollar following the encouraging first-quarter (1Q17) Gross Domestic Product (GDP) growth data released today. At 6 pm, the local unit was quoted at 4.3180/3230 against the…
KUALA LUMPUR: Bursa Malaysia snapped a three-day losing streak to end higher today as investors confidence improved following Malaysia's firmer economic performance in the first quarter ended March 31 this year, coupled with a rebound in crude oil prices, dealers said.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed 1.11 points higher at 1,768.28 from yesterday's close of 1,767.17.
After opening 1.23 points higher at 1,768.40, the index moved between 1,767.89 and 1,771.50 throughout the day.
Market breadth was positive, with gainers outpacing losers 623 to 302 with 364 counters unchanged, 459 untraded and 20 others suspended.
Volume increased to 3.27 billion units valued at RM3.24 billion from the 3.00 billion units valued at RM2.64 billion yesterday.
Malaysia's economy recorded a robust growth of 5.6% in the first quarter of this year from 4.1% in the same quarter last year, boosted by strong domestic demand and private expenditure.
Regional markets were also slightly higher in tandem with the improved performance of Wall Street due to strong US economic data amid political turbulence in the United States.
US stocks recovered from the steep sell-off two days ago, underpinned by the strong economic data.
The rebound in crude oil prices also boosted the market today with Brent crude up 28 cents to US$52.79 (RM228) per barrel and US crude oil rose 29 cents to US$49.64 per barrel, on growing optimism that big producing countries will extend output cuts to curb a persistent glut in crude.
Among heavyweights, MISC eased four sen to RM7.49, Digi.com gained two sen to RM5.01, KLCC shed three sen to RM7.80 and IHH gave up two sen to RM6.00.
As for the gainers, PetDag accumulated 68 sen to RM24.76, BAT improved 52 sen to RM45.78, Malaysian Pacific Industries added 48 sen to RM13.40, Bursa added 39 sen to RM10.38, and Magni-Tech garnered 35 sen to RM5.65.
The FBM Emas Index garnered 25.47 points to 12,685.88, the FBMT100 Index increased 19.15 points to 12,307.17 and the FBM Emas Syariah Index rose 17.13 points to 13,0009.49.
The FBM 70 accumulated 66.70 points to 15,313.96 and the FBM Ace surged 171.23 points to 6,601.71.
Sector-wise, the Finance Index added 12.63 points to 16,355.32, the Plantation Index rose 8.11 points to 8,066.00, but the Industrial Index eased 4.23 points to 3,262.22.
Main Market turnover added to 2.09 billion units worth RM3.05 billion from 1.85 billion units worth RM2.48 billion yesterday.
Volume on the ACE Market increased to 760.06 million units valued at RM123.06 million from 606.58 million units valued at RM98.81 million.
Warrants fell to 416.71 million units valued at RM61.37 million from yesterday's 536.88 million units valued at RM67.52 million.
Consumer products accounted for 127.26 million shares traded on the Main Market, industrial products (458.29 million), construction (170.43 million), trade and services (819.06 million), technology (103.72 million), infrastructure (12.48 million), SPAC (742,000 million), finance (93.38 million), hotels (2.47 million), properties (251.64 million), plantations (37.30 million), mining (15,000), REITs (15.60 million), and closed/fund (50,000).
The physical price of gold as at 5pm stood at RM167.98 per gramme, down RM1.31 from RM169.29 at 5pm yesterday. — Bernama
KUALA LUMPUR, May 19 — Bursa Malaysia snapped a three-day losing streak to end higher today as investors confidence improved following Malaysia’s firmer economic performance in the first quarter ended March 31 this year, coupled with a rebound…
TOKYO, May 19 — Japan tightened regulations on high-frequency trading (HFT) this week, passing into law measures that will require HFT firms to register with regulators. Other nations in Europe and elsewhere in Asia are looking to tighten the…
JAKARTA, May 19 — S&P Global Ratings raised Indonesia’s credit rating to investment grade, bringing it in line with the other two main rating companies and paving the way for more fund inflows into Southeast Asia’s largest economy. Stocks…
VIENNA, May 19 — An Opec panel reviewing scenarios for next week’s policy-setting meeting is looking at the option of deepening and extending an Opec-led deal to reduce oil output, Opec sources said today. Opec’s national representatives…