Saturday, December 23rd, 2017


Boeing seen eyeing broad Embraer deal, but no firm proposal made

PARIS, Dec 23 ― Boeing Co is eyeing a broad partnership with Embraer reaching beyond commercial aircraft to defence and global services, but its shape hinges on talks with the Brazilian government. The US aerospace group has yet to make a…

Hamleys opens its largest toy store in Beijing amid Christmas debate

BEIJING, Dec 23 ― British toy retailer Hamleys opened its largest store in the world in Beijing today, just two days before Christmas as debate played out over whether the holiday should be banned in the Communist country. Christmas elves, a…

Bursa Malaysia to move upwards with fund inflow next week

KUALA LUMPUR: Bursa Malaysia is expected to move upwards, supported by the firmer ringgit against the US dollar and the continuation of foreign fund inflow, said a dealer.

Affin Hwang Investment Bank Vice-President and Head of Retail Research Datuk Dr Nazri Khan Adam Khan said the country received a net fund inflow of RM10 billion this year after experiencing outflows in the last three years.

He said year-to-date, the ringgit appreciated about 10% against the greenback, while Bursa Malaysia grew by eight percent.

“I expect the FTSE Bursa Malaysia KLCI (FBM KLCI) to move up to 1,780 level before the first week of 2018 as investors are snapping out stocks before year-end,” he told Bernama.

Besides that, Nazri Khan said recovery in commodity prices, including Brent crude and crude palm oil (CPO) also translated into a strong sentiment for Malaysia.

“Against these backdrop of strength, I believe the local market should be able to play catch-up with the rest of the world,” he told Bernama.

Nazri Khan also expects economic growth to remain healthy with a five percent growth expected next year.

On the external front, he said the major US tax cuts approved this week were expected to spur American economy, besides having a spillover effect on emerging markets like Malaysia.

On a Friday-to-Friday comparison, the FBM KLCI gained 7.17 points to 1,760.24, with the market being mostly influenced by window dressing and profit-taking ahead of the festive season.

The FBM Emas Index improved 72.91 points to 12,661.75, the FBMT 100 Index increased 77.42 points to 12,334.27, the FBM Emas Syariah Index surged 120.14 points to 13,010.87, the FBM 70 bagged 189.73 points to 15,650.44 and the FBM Ace added 37.08 points to 6,465.50.

On a sectoral basis, the Finance Index rose 8.32 points to 16,594.83, the Plantation Index improved 90.29 points to 7,900.40, while the Industrial Index advanced 12.37 points to 3,192.53.

Total turnover increased to 12.22 billion shares worth RM10.94 billion from 11.07 billion units worth RM13.65 billion last week.

Main Market volume slipped to 6.45 billion shares worth RM9.92 billion from to 7.09 billion shares valued at RM12.96 billion.

Warrants turnover was up at 1.03 billion units valued at RM178.09 million against last week's 974.17 million units worth RM126.08 million.

The ACE Market expanded to 4.61 billion shares worth RM804.24 million from 2.95 billion shares valued at RM546.69 million transacted previously.

Gold futures contract on Bursa Malaysia Derivatives is likely to trade higher next week on renewed buying interest ahead of the year-end.

Phillip Futures Sdn Bhd Dealer Chang Hui Ying said the local gold futures were expected to have more trading volume next week after the long Christmas weekend and at the last business week of the year.

“Bursa Malaysia gold would track the steadily trading COMEX gold, with its support seen at RM164.00 a gramme and resistance is at RM169.00 a gramme,” Chang told Bernama.

On a Friday-to-Friday basis, December 2017 rose 20 ticks to RM167.10 a gramme, while January 2018, February 2018 and March 2018 increased 24 ticks each to RM167.70, RM168.40 and RM169.10 a gramme, respectively.

Weekly turnover eased to 14 lots worth RM199,190 from 18 lots worth RM280,320 last week, while open interest on Friday was lower at 103 contracts against 105 contracts previously. — Bernama


Friday , 22 December 2017



Friday , 22 December 2017

Ringgit to strengthen further against US dollar

KUALA LUMPUR, Dec 23 — The ringgit is expected to strengthen further next week amid the likelihood of interest rate hike in early 2018, said dealers. Maybank Investment Bank Bhd Chartist Nik Ihsan Raja Abdullah said the ringgit would…

Bursa to move upwards with fund inflow next week

KUALA LUMPUR, Dec 23 — Bursa Malaysia is expected move upwards, supported by the firmer ringgit against the US dollar and the continuation of foreign fund inflow, said a dealer. Affin Hwang Investment Bank Vice-President and Head of Retail…

Short-term rates to be kept steady

KUALA LUMPUR, Dec 23 — Malaysian interbank offered rates will be kept steady at current levels next week amid the present manageable liquidity levels in the monetary system, dealers said. They said that Bank Negara Malaysia (BNM) would…

Sparks of early success

KUALA LUMPUR, Dec 23 — In 2014, two reputable government organisations decided to break their organisational boundaries and affirmed to join hands in running a national programme to help small and medium-sized enterprises (SMEs) in the…

Mobilising innovation in the new era

KUALA LUMPUR, Dec 23 ― The patent system is at an inherent tension with contemporary practices of innovation. American patent doctrine reveres the lone inventor who, through the marshalling of extraordinary insight and experimental toil,…

Sabah Electricity’s future depends on MOF, KeTTHA and TNB

KUALA LUMPUR: The future of Sabah Electricity Sdn Bhd (SESB) will be determined following an ongoing discussions between the Energy, Green Technology and Water Ministry (KeTTHA), Ministry of Finance and Tenaga Nasional Bhd (TNB). In a statement yesterday, KeTTHA Minister, Datuk Seri Dr Maximus Ongkili, said the discussions wee crucial, especially since SESB continued to […]

Yet another gloomy year for property market

KUALA LUMPUR: The local property market continued to face a tough time in 2017 with growing number of property oversupply, resulting from higher-than-affordable house prices flooding the market. Affordable housing remained the key issue hogging the market, whereby most first-time house buyers seemingly could not afford to buy residential properties priced above RM250,000. Bank Negara […]