Saturday, July 20th, 2019


Equifax close to US$700m settlement for data breach, says report

WASHINGTON, July 20 ― US credit agency Equifax is close to a US$700 million (RM2.87 billion) settlement agreement with authorities over the theft of sensitive personal data of nearly 150 million customers, the Wall Street Journal reported. The…

Trump tells France's Macron US concerned with proposed digital services tax

WASHINGTON, July 20 ― US President Donald Trump spoke with French President Emmanuel Macron yesterday and expressed concerns about the country's proposed digital services tax, the White House said. The two leaders also discussed ongoing efforts to…

Bursa Malaysia expected to reach 1,700 next week

KUALA LUMPUR: Bursa Malaysia is expected to continue its uptrend next week and likely to reach 1,700 points after a steady rebound on Friday.

Phillip Capital Management Asia-Pacific senior vice-president (investment) Datuk Dr Nazri Khan Adam Khan said for the upcoming week, the local market was expected to be supported by local sentiment with minimum exposure to foreign risks.

“Automotive and media sectors are poised for better prospects next week,” he told Bernama.

For the week just ended, the FBM KLCI index slipped 0.77 per cent to 1,656 from 1,669 points.

The local bourse was also influenced by global stock performance mainly the US market.

Due to the potential interest rate cut and comments from the Federal Reserve office earlier in the week on signs of economic weakening, the US equity indices had a mild recovery from the early losses.

For the week just ended, Nazri said the local market remained subdued as the wave of US corporate earnings was showing flat to negative results which dampened the positive sentiments of the economic outlook.

“Besides lower earnings of companies, the market was also impacted by the concerns over the ongoing trade spat between the US and China, and weak data from the region,” he said.

Bursa Malaysia was traded volatile and rebounded on Friday after profit-taking activities throughout the week.

On a Friday-to-Friday basis, the FBM KLCI declined 11.26 points to 1,658.19 from 1,669.45 a week earlier.

The FBM Emas Index eased 54.03 points to 11,790.22, the FBMT 100 Index declined 53.26 points to 11,616.25 and the FBM Emas Syariah Index trimmed 77.06 points to 12,164.862.

The FBM Ace Index gained 24.84 points to 4,674.97 and the FBM 70 up 35.46 points to 14,913.03.

Sector-wise, the Financial Services Index fell 46.31 points to 16,595.80, the Plantation Index dipped 97.28 points to 6,814.0 and the Industrial Products and Services Index inched down 4.51 points to 156.81.

Weekly turnover rose to 15.49 billion units worth RM9.46 billion from 12.99 billion units worth RM10.26 billion last week.

Main Market volume increased to 10.83 billion shares worth RM8.27 billion compared with last week’s 9.36 billion shares valued at RM9.4 billion.

Warrants turnover rose to 1.99 billion units worth RM391.59 million from 1.92 billion units worth RM411.56 million.

The ACE Market volume fell to 2.66 billion shares worth RM486.93 million compared with 4.53 billion shares valued at RM2.55 billion previously. — Bernama

Bursa Malaysia expected to continue uptrend next week

KUALA LUMPUR, July 20 ― Bursa Malaysia is expected to continue its uptrend next week and likely to reach 1,700 points after a steady rebound yesterday. Phillip Capital Management Asia-Pacific senior vice-president (investment) Datuk Dr Nazri Khan…

Fed signals help FTSE 100 brush off Italy woes, buyout spurs Acacia

LONDON, July 20 ― London's FTSE 100 ended higher yesterday as bolstered hopes of a US interest rate cut stoked risk appetite, though the index's advances were reined in after political turmoil in Italy triggered a broad sell-off in bank stocks….

Political turmoil in Italy weighs on European stocks

ROME, July 20 ― European shares ended only marginally higher yesterday as worries about the stability of Italy's government dented optimism from renewed signals the US Federal Reserve will cut interest rates soon. The pan-European STOXX 600 closed…

Ringgit likely to trade between 4.10-4.12 against US dollar next week

KUALA LUMPUR, July 20 ― The ringgit is likely to trade within a narrow range of between 4.10 and 4.12 against the US dollar next week, provided that there is no escalation in the trade war between the United States (US) and China, said a dealer….

Wall Street slides as Fed signals smaller rate cut

NEW YORK, July 20 ― Wall Street's main indexes fell yesterday following a report that the Federal Reserve plans to cut interest rates by only a quarter-percentage point at the end of the month. The benchmark S&P 500 erased earlier marginal…

US had 'very good talk' with China, in-person talks may follow, says Trump

WASHINGTON, July 20 ― US President Donald Trump said yesterday that US Treasury Secretary Steve Mnuchin had a very good talk with his Chinese counterpart, amid signals from China that officials could soon meet face-to-face in their bid to end a…