Most SE Asia stocks up, Philippines hit year low on heavy foreign selling

SINGAPORE, April 19 — Philippine shares plummeted to their lowest in a year on Thursday on heavy foreign selling while most other South-east Asian stock markets rose on the back of strong commodity and crude oil prices. A broad sell-off saw…

RHB: Market volatility presents trading opportunities

KUALA LUMPUR, April 18 — Although the 14th general election (GE14) is a significant overhang for the economy and markets, volatility can still present trading opportunities due to the nation’s solid economy, earnings growth as well as pent-up…

Oil prices rise on crude supply worry, Wall Street strength

NEW YORK, April 18 — Oil prices rose yesterday, as support from the possibility of supply disruptions and a strong equities market offset the effects of profit-taking following last week’s rally above three-year highs. Brent crude oil futures…

Ringgit halts 4-day loss with USD on back foot


KUALA LUMPUR (April 17): Ringgit halts four days of losses, consolidating as traders await developments on U.S. trade protectionism and Syria. * USD/MYR steady at 3.8865 ** Support 3.8465, 3.8000, 3.7310; resistance 3.9000, 3.9290, 3.9313 ** Bloomberg Dollar Spot Index -0.1%; Brent crude +0.2% to $71.74 * USD/MYR is expected to remain in its one-month trading range of 3.8570-3.9270, says Angus Salim Amran, head of financial markets at RHB Investment Bank in Kuala Lumpur ** Heightened trade and geopolitical risks will remain an overriding influence on the ringgit * MYRRead More

China boosts holdings of US Treasuries by most in six months

BEIJING, April 17 — China’s holdings of Treasuries rose by the most in six months, underscoring the attractiveness of US assets even amid trade tensions between the world’s two largest economies. China’s ownership of US bonds, bills and…

Foreign buying on Bursa last week tops RM300m

PETALING JAYA: The net amount acquired by foreign investors last week amounted to RM324.7 million, only the eighth time this year weekly foreign buying levels exceeded RM300 million.

“International investors continued to make their way to accumulate stocks listed on Bursa last week albeit at a rather similar pace compared to the week before,” MIDF Research said in its fund flow report today.

Foreign buying activity occurred on four out of five trading days last week. Global investors made a strong start to the week as they mopped up RM188.3 million net of local equities on Monday. This was also the largest daily amount acquired during the week, coinciding with the KLCI adding 12.7 points as US President Donald Trump’s tweet expressed optimism on US-China relations, which softened fears of a trade war. Foreign inflows slightly slowed down the next day to a tune of RM131 million net.

Wednesday then saw a decent net outflow of RM27.4 million amid escalated tensions over Syria, which overshadowed the news of volume across Bursa exceeding 4 billion shares amid the timing of the 14th General Election which was made public on the day before.

Nonetheless, foreign investors returned to Bursa on Thursday and Friday but at a marginal level of RM17.5 million and RM15.3 million net, respectively.

“It was noteworthy that Malaysia and Korea were the only markets among the seven Asian exchanges that we track, to experience foreign inflows on Thursday and Friday.”

On a year-to-date basis, foreigners have so far accumulated RM2.85 billion net of local equities.

Meanwhile, foreign investors have been net buyers in 12 out of the 15 weeks in 2018 compared to 13 weeks during the same period in 2017.

Both foreign and retail participation remained robust as both of their average daily trade value stood above the RM1 billion level last week.

Higher interest rates, loans lift Bank of America profits

NEW YORK, April 16 — Bank of America reported a jump in first-quarter earnings today on strong performance in key businesses thanks in part to a lift from higher interest rates. Net income for the quarter ending March 31 was US$6.5 billion, up…

Oil, gold open lower despite Syria strikes, Russian retaliation in focus

LONDON, April 16 ― Gold and oil traded slightly lower as markets opened for the first time since Western powers launched a missile attack on Syria, but equities are unlikely to experience big losses unless the West strikes again or Russia…

Want to make money? Invest like Norway’s wealth fund, says author

OSLO, April 13 — Norway’s sovereign wealth fund has lessons for retail investors according to a book out this week: Think long-term, don’t sell when stocks markets go down and be mindful of your home biases. The fund invests revenues from…

Singapore gains after monetary tightening, most South-east Asia fall to profit taking

SINGAPORE, April 13 — Singapore shares rose today after its central bank tightened monetary policy for the first time in six years saying its economy is expected to continue growing steadily, while most other South-east Asian stock markets…