Saturday, October 27th, 2018

 

Robots to make robots at ABB’s new US$150m factory in China

ZURICH, Oct 27 — Robots will make robots at a new ABB factory in China, which the Swiss engineering group said today it plans to build for US$150 million (RM626.2 million) in Shanghai as it defends its place as the country’s largest maker of…


Sabah to continue backing, creating young entrepreneurs, says Shafie

KOTA KINABALU, Oct 27 — Sabah Chief Minister Datuk Seri Mohd Shafie Apdal said the state government will continue to work with federal government agencies to create more young entrepreneurs in Sabah. He said that providing training and granting…


Taiwan companies keen to penetrate Malaysian halal market

KUALA LUMPUR, Oct 26 — A Taiwan food & beverage company, King Car Group, intends to penetrate the Malaysian halal market, encouraged by the vast potential offered by the local halal market. Its Export Department expert, Fiona Lin said the…


Belt and road initiative a positive contribution to world economy, Singapore minister says

SINGAPORE, Oct 27 — The Belt and Road Initiative, a multilateral development plan proposed and led by China, is a positive contribution to the world economy, Xinhua news agency quoted Singapore’s Minister for Trade and Industry Chan Chun Sing as…


Does your unit trust fund portfolio have risk reduction mechanism in a volatile market?

In view of the recent market volatility and turbulence, some unit trust fund investors may start to get jittery and worried about how their unit trust funds are performing, particularly those invested in equity funds. When you experience turbulence during a flight, the captain will switch on the ‘fasten the seatbelt sign’; with a ‘bing’ […]


How ratings agencies work and why they are feared

ROME, Oct 27 ­— Depending on whom you ask, ratings agencies are either would-be guardians of financial probity or an indispensable valuation tool for investors. Their reputation was badly tarnished by the 2008 financial crisis when critics said…


US trade conflicts weigh on robust growth in third quarter

WASHINGTON, Oct 27 — Robust US GDP growth continued in the third quarter but at a slower pace just ahead of key congressional elections, while the economy faces mounting headwinds from trade wars, the Commerce Department reported yesterday. Coming…


Trading on Bursa Malaysia to be volatile next week

KUALA LUMPUR: Trading on Bursa Malaysia is expected to be volatile next week, driven by unfavourable external developments.

Inter-Pacific Securities Sdn Bhd Head of Research Pong Teng Siew said for this year, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was at its lowest on June 28, where it touched 1,657.78 and there is a risk for it to be close to that level.

“Sentiment on the local market is largely influenced by Wall Street's performance and considering market players' concerns over US corporate earnings and the outlook for the world's largest economy, we believe the FBM KLCI would likely be volatile next week.

“We believe the FBM KLCI will trade lower, but do not expect a big drop,” he told Bernama.

On the technical front, PublicInvest Research said the FBM KLCI is anticipated to consolidate between the 1,664 and 1,700 marks, with support levels at 1,622, 1,664 and 1,680, and the resistance levels at 1,700, 1,719 and 1,735.

For the week just-ended, Bursa Malaysia was mostly lower, which was in line with the decline on Asian markets as traders tracked Wall Street's losses after a steep sell-off in US tech companies.

On a Friday-to-Friday basis, the benchmark FBM KLCI settled 49.08 points lower at 1,683.06.

The FBM Emas Index lost 379.41 points to 11,591.11, the FBMT100 Index decreased 352.77 points to 11,447.22 and the FBM Emas Syariah Index declined 379.41 points to 11,591.11.

The FBM 70 fell 483.41 points to 13,290.74 and the FBM Ace lost 324.91 points to 4,775.05.

On a sectoral basis, the Finance Index decreased 420.59 points to 17,144.87, the Plantation Index was 102.63 points lower at 7,324.34 and the Industrial Products and Services Index edged down 4.77 points to 168.34.

Weekly turnover decreased to 7.96 billion units valued at RM8.02 billion against 10.15 billion units valued at RM10.68 billion.

Main Market volume was lower at 5.54 billion shares worth RM7.52 billion versus 6.71 billion shares worth RM10.03 billion.

Warrants turnover declined to 1.27 billion units valued at RM262.7 million from 1.90 billion units valued at RM357.70 million.

The ACE Market volume declined to 1.14 billion shares worth RM241.96 million from 1.57 billion shares worth RM289.37 million. — Bernama


Trading on bursa to be volatile next week

KUALA LUMPUR, Oct 27 — Trading on Bursa Malaysia is expected to be volatile next week, driven by unfavourable external developments. Inter-Pacific Securities Sdn Bhd Head of Research Pong Teng Siew said for this year, the benchmark FTSE Bursa…


Equities’ slide sends bonds higher, dents greenback

NEW YORK, Oct 27 — Stock markets around the world tumbled yesterday while US Treasury prices rose along with demand for safer bets as better-than-expected US economic data did little to ease anxiety over disappointing corporate profits and trade…