equities

 
 

Pound jumps on Brexit hopes as global stocks firmer

LONDON, Sept 13 — The British pound hit a seven-week high against the dollar today on easing fears of a no-deal Brexit. Stock markets meanwhile won support after China said some US agricultural products including pork and soybeans would be exempt…


Report: EPF-held shares’ value slip RM8b since late June to RM150b

KUALA LUMPUR, Sept 13 — The Employees Provident Fund’s (EPF) saw the value of its 191 stocks decline from RM157.87 billion since late June to RM149.94 billion this Wednesday, a report has said. According to business news outlet The Malaysian…


Asian markets rally on growing trade hopes and ECB easing

HONG KONG, Sept 13 — Equities rose in Asian trade today after the European Central Bank unveiled a fresh round of economic stimulus and another interest rate cut while a report said the US was considering a short-term trade agreement with China….


Bursa Malaysia opens higher, ECB stimulus lift

KUALA LUMPUR: Bursa Malaysia opened higher in early trade Friday, tracking closely the positive overnight performance of the US equities markets, as investors lauded European Central Bank (ECB) move to launch fresh stimulus.

At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.69 points to 1,602.69 compared to Thursday’s close of 1,601.0.

At the opening, the market barometer was 0.31 of-a-point lower at 1,600.69.

The ECB yesterday cut its main deposit rate by 10 basis points to -0.5% and introduced a new bond-buying program, which will entail 20 billion euros per month of asset purchases for as long as it deems necessary.

At home, Malacca Securities Sdn Bhd said stronger impetuses are required to ensure a sustainable uptrend as the recent gains have seen little support, resulting in the key index lingering within a tight band of between the 1,590 and 1,610 levels.

“Although we think that the key index could regain some of its lost ground to end the week, we still think the market’s undercurrent remains indifferent and this could also mean that any near term upsides will be limited,“ it said in a note.

In addition, most market players are still unsure of the market’s direction, keeping many players on the sidelines and the overall market participation on the thin side.

Topping the heavyweights’ list, Maybank rose three sen to RM8.93, Petronas Chemicals bagged five sen to RM7.56, Tenaga was four sen higher at RM13.48 and CIMB added two sen to RM5.02.

Of the actives, Green Packet and Bumi Armada were both flat at 25.5 sen and 27.5 sen respectively.

Vsolar advanced by half-a-sen to 11 sen and I-Stone gained one sen to 18.5 sen.

The FBM Emas Index recovered 12.99 points to 11,296.06, the FBMT100 Index increased 13.00 points to 11,130.88 and the FBM Emas Shariah Index appreciated 5.16 points to 11,811.57.

The FBM Ace expanded 2.69 points to 4,531.48 and the FBM 70 inched up 21.63 points to 13,894.75.

Sector-wise, the Financial Services Index up 38.37 points to 15,588.76, the Plantation Index improved 4.05 points to 6,806.36 and the Industrial Products and Services Index was 0.44 of-a-point up at 153.33.

There are 116 gainers, 75 losers on Bursa Malaysia, while 177 counters remained unchanged, 1,611 untraded and 23 others suspended.

Turnover stood at 152.89 million units worth RM48.19 million.

The physical price of gold as at 5pm stood at RM193.87 per gramme, down 98 sen from RM194.85 at 5pm yesterday. — Bernama


Bursa Malaysia opens higher, ECB stimulus lift

KUALA LUMPUR: Bursa Malaysia opened higher in early trade Friday, tracking closely the positive overnight performance of the US equities markets, as investors lauded European Central Bank (ECB) move to launch fresh stimulus.

At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.69 points to 1,602.69 compared to Thursday’s close of 1,601.0.

At the opening, the market barometer was 0.31 of-a-point lower at 1,600.69.

The ECB yesterday cut its main deposit rate by 10 basis points to -0.5% and introduced a new bond-buying program, which will entail 20 billion euros per month of asset purchases for as long as it deems necessary.

At home, Malacca Securities Sdn Bhd said stronger impetuses are required to ensure a sustainable uptrend as the recent gains have seen little support, resulting in the key index lingering within a tight band of between the 1,590 and 1,610 levels.

“Although we think that the key index could regain some of its lost ground to end the week, we still think the market’s undercurrent remains indifferent and this could also mean that any near term upsides will be limited,“ it said in a note.

In addition, most market players are still unsure of the market’s direction, keeping many players on the sidelines and the overall market participation on the thin side.

Topping the heavyweights’ list, Maybank rose three sen to RM8.93, Petronas Chemicals bagged five sen to RM7.56, Tenaga was four sen higher at RM13.48 and CIMB added two sen to RM5.02.

Of the actives, Green Packet and Bumi Armada were both flat at 25.5 sen and 27.5 sen respectively.

Vsolar advanced by half-a-sen to 11 sen and I-Stone gained one sen to 18.5 sen.

The FBM Emas Index recovered 12.99 points to 11,296.06, the FBMT100 Index increased 13.00 points to 11,130.88 and the FBM Emas Shariah Index appreciated 5.16 points to 11,811.57.

The FBM Ace expanded 2.69 points to 4,531.48 and the FBM 70 inched up 21.63 points to 13,894.75.

Sector-wise, the Financial Services Index up 38.37 points to 15,588.76, the Plantation Index improved 4.05 points to 6,806.36 and the Industrial Products and Services Index was 0.44 of-a-point up at 153.33.

There are 116 gainers, 75 losers on Bursa Malaysia, while 177 counters remained unchanged, 1,611 untraded and 23 others suspended.

Turnover stood at 152.89 million units worth RM48.19 million.

The physical price of gold as at 5pm stood at RM193.87 per gramme, down 98 sen from RM194.85 at 5pm yesterday. — Bernama


Asian shares advance on US-China trade hopes, ECB stimulus

TOKYO, Sept 13 — Asian stocks advanced today as hints of progress in the US-China trade dispute and aggressive stimulus from the European Central Bank helped to counter worries about a global economic slowdown. MSCI’s broadest index of…


Asian equities mixed after US, China tariff moves

HONG KONG, Sept 12 — Signs of easing tensions between China and the US in their trade row fuelled hopes of a breakthrough in high-level talks next month but Asian markets were mixed as dealers struggled to extend this week’s healthy rally….


Bursa Malaysia extends gains as Wall Street rise

KUALA LUMPUR: Bursa Malaysia extended yesterday’s steady momentum to opened higher on Thursday, amid a buoyant Wall Street.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.37 points to 1,604.67 compared to Wednesday’s close of 1,602.30.

The market barometer opened 0.91 of-a-point better at 1,603.21.

Hope for stimulus to support growth in the world’s major economies boosted investors’ sentiment ahead of the European Central Bank (ECB) meeting today.

The ECB is expected to cut interest rates and detail plans for stimulus measures when it concludes its meeting on Thursday.

Investors also expect the Federal Reserve to deliver a 25 basis-point rate cut next week, Public Investment Bank Bhd said in a note today.

The FBM KLCI according to the investment bank will track the overnight Wall Street performance, after the S&P 500 ended above 3,000 for the first time since late July.

The S&P 500 was up 0.7%, edging closer to a fresh record high, led by healthcare and tech, mainly Apple, as the tech company’s market capitalisation climbed back above the US$1 trillion marks as investors cheered its lower-priced iPhone 11 and Apple TV+ subscription.

Malacca Securities Sdn Bhd said the market is much calmer after incremental progress is made on the US-China trade dispute with the former delaying the implementation of higher tariffs on China made goods by two weeks in October.

“The above positives will help to provide the much-needed catalysts for Malaysian equities to maintain their upward trajectory which may now see the key index making a pass at the 1,610 level,“ it added.

Of the heavyweights, Petronas Chemical added 12 sen to RM7.35, MISC was 13 sen higher at RM7.92 and Maybank rose five sen to RM8.94.

Hong Leong Bank was 16 sen better at RM16.56 and CIMB was higher by three sen at RM5.06.

Of the actives, Hubline inched up half-a-sen to 5.5 sen after announced proposal to acquire a 75% stake in Absolute Privilege Sdn Bhd for RM16.36 million.

Tadmax went up one sen to 32 sen and Green Packet advanced half-a-sen to 25 sen.

The FBM Emas Index edged up 16.69 points to 11,308.55, the FBMT100 Index improved 16.43 points to 11,144.24 and the FBM Emas Shariah Index rose 6.21 points to 11,823.36.

The FBM Ace increased 19.18 points to 4,524.91 and the FBM 70 expanded 20.50 points to 13,909.76.

Sector-wise, the Financial Services Index gained 63.79 points to 15,624.89, the Plantation Index dropped 27.86 points to 6,817.88 and the Industrial Products and Services Index was 0.94 of-a-point up at 151.93.

Market breadth was positive as gainers led loses 153 to 73, with 149 counters unchanged, 1,594 untraded and 15 others suspended.

Turnover stood at 90.38 million units worth RM42.69 million.

The physical price of gold as at 9.30am stood at RM193.68 per gramme, down 36 sen from RM194.04 at 5pm yesterday. — Bernama


Bursa extends gains as Wall Street rises

KUALA LUMPUR, Sept 12 — Bursa Malaysia extended yesterday's steady momentum to opened higher today, amid a buoyant Wall Street. At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.37 points to 1,604.67 compared to yesterday's close of…


Asian stocks rise on hopes for US-China trade, monetary stimulus

TOKYO, Sept 12 — Asian stocks rose today on hopes for a thaw in US-China trade frictions and expectations that the European Central Bank will kick off another wave of monetary easing by global central banks. MSCI's broadest index of Asia-Pacific…