equity markets


Pound drops as Johnson faces battle to pass Brexit bill

HONG KONG, Oct 18 — Sterling fell today as investors fret over Boris Johnson’s chances of pushing his Brexit deal through parliament, while Asian markets were mostly down after data showed China’s economy expanded at its slowest pace in nearly…

Asian stocks track Brexit deal cheer but China caution prevails

SHANGHAI, Oct 18 — Asian stocks edged higher today, tracking the global lift in sentiment after the UK and the European Union struck a long-awaited Brexit deal, but concern about the Chinese economy is likely to cap gains with data expected to…

Global stocks jump on report Brexit deal may be close, oil slips

NEW YORK, Oct 16 ― Stocks in Europe and on Wall Street jumped about 1 per cent yesterday on strong US corporate results and a possible deal to avoid a disorderly British exit from the European Union, while oil prices fell as weak China data…

Stocks meander on caution over trade talks, dollar gains

NEW YORK, Oct 15 — The US dollar gained yesterday as optimism ebbed over a potential US-China trade deal that President Donald Trump outlined last week, while a gauge of global equity markets was little changed as investors sought details about an…

Pound resumes drop at start of key Brexit week

LONDON, Oct 14 — The British pound slid against the euro and dollar today, the start of a pivotal week for Britain and the European Union to strike a Brexit deal.  European stock markets also retreated as weak Chinese data offset a partial…

Bursa Malaysia ends on firm note across the board

KUALA LUMPUR: Bursa Malaysia ended on a firm note across the board, tracking the gains on regional bourses, amid optimism on the latest round of the US-China trade negotiation, said a dealer.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 10.75 points to 1,567.59 from last Friday’s 1,556.84.

The index, which opened 5.81 points higher at 1,562.65, moved between 1,562.65 and 1,568.96 throughout the day.

Market breadth was positive as gainers led losers 487 to 367, with 407 counters unchanged, 737 untraded and 42 others suspended.

Turnover widened to 2.99 billion shares worth RM1.84 billion from 2.33 billion shares worth RM1.6 billion last Friday.

Regionally, Japan’s Nikkei improved 1.15% to 21,798.87, Hong Kong’s Hang Seng Index increased 0.81% to 26,578.41, while Singapore’s Straits Times Index rose 0.37% to 3,125.16.

A dealer said Bursa Malaysia’s equity stayed firm for the whole trading session tracking the gains on regional markets, lifted by positive market sentiment.

Equity markets worldwide were in the black since last Friday with much of the positive vibes stoked by the latest high-level trade talks between the US and China, while foreign investors took a breather from selling activities.

“The latest negotiations between the world’s two largest economies were ‘constructive’ with a truce in US-China year-long trade war last Friday with the US suspending a tariff escalation due this week on US$250 billion of Chinese exports set for US shores as part of a ‘phase one’ trade accord,” the dealer said.

Locally, the market saw active trading activities with the broader market shares and the lower liners firmed-up further, he said.

“The FBM Small Cap index has perked up which we see continuing over the near term. We also think that technology stocks will also make further headway as technology and construction stocks are seen as the major beneficiaries of the 2020 Budget,” he added.

Among heavyweights, Maybank rose nine sen to RM8.53, Public Bank gained eight sen to RM19.16, Petronas Chemicals increased five sen to RM7.28, IHH Healthcare rose 12 sen to RM5.77, while Tenaga slipped eight sen to RM13.82.

Of the most actives, NetX Holdings edged up half-a-sen to 2.5 sen, Green Packet’s warrant improved two sen to 31.5 sen, while Bumi Armada and I-Stone added three sen each to 41.5 sen and 22.5.

Debutant AME Elite rose 20 sen to RM1.50, but Sapura Energy eased half-a-sen to 26.5 sen.

The FBM Emas Index increased 73.20 points to 11,151.01, the FBMT 100 Index gained 72.55 points to 10,967.99 and the FBM Emas Shariah Index added 66.56 points to 11,782.93.

The FBM 70 rose 81.77 points to 14,025.74 and the FBM Ace advanced 30.07 points to 4,649.20.

Sector-wise, the Financial Services Index surged 143.59 points to 15,133.92, the Plantation Index was 59.34 points higher at 6,600.23, and the Industrial Products & Services Index was 0.45 of-a-point better at 150.88.

Main Market volume increased to 1.82 billion units worth RM1.61 billion from last Friday’s 1.44 billion units worth RM1.4 billion.

Warrants turnover narrowed to 359.01 million units worth RM61.99 million from 464.37 million units worth RM76.03 million previously.

Volume on the ACE Market widened to 816.07 million shares worth RM174.32 million from 427.27 million shares worth RM125.42 million last Friday.

Consumer products and services accounted for 188.14 million shares traded on the Main Market, industrial products and services (204.38 million), construction (205.39 million), technology (159.13 million), SPAC (nil), financial services (36.34 million), property (114.57 million), plantations (20.02 million), REITs (11.30 million), closed/fund (17,100), energy (595.76 million), healthcare (14.05 million), telecommunications and media (224.50 million), transportation and logistics (29.94 million), and utilities (13.36 million). — Bernama

Bursa Malaysia remains firm at mid-day

KUALA LUMPUR, Oct 14 — Bursa Malaysia remained firm at mid-day today, in line with regional peers’ performance and optimism of the latest round US-China trade negotiation. At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM…

Tech stocks lift Wall Street as reports brighten hopes of trade deal

NEW YORK, Oct 10 — Wall Street rose for the first time in three sessions yesterday with technology stocks providing a boost, as a report that China was open to a partial trade deal soothed investor nerves ahead of high-level talks today. Shares in…

PNB doing mid-term review of strategic plan

PUCHONG: Permodalan Nasional Bhd (PNB) will have a relook at its STRIVE-15 Strategic Plan 2017-2022 on whether there is a need to tweak it forward, given the current landscape of weak investment returns environment globally and geopolitical issues.

“PNB had previously set a mid-term period for the STRIVE-15 period for reviews, and currently we are doing a mid-term review on it and we’ll see what have been agreed (upon) and what have been achieved.

“Basically, STRIVE-15 would be consistent with what we said we were going to do three years ago,“ PNB newly-appointed president and group CEO Jalil Rasheed told reporters after the final round of the PNB Investment Quiz and prize giving ceremony today.

PNB STRIVE-15 includes three pillars, namely enhancing sustainable returns, effective investment management and driving operational excellence.

Asked whether PNB will continue to invest in the equity markets of several advanced and emerging markets, Jalil said:

“That’s actually very critical for us… PNB’s asset under management value today stood at RM300 billion and Malaysia’s market is just not large and deep enough.”

He said PNB would need to diversify its investments, perhaps a lot in single-asset class and in Malaysia. – Bernama

WTO trade threats sink European stocks

FRANKFURT, Oct 3 ― European stock markets dived almost 3 per cent to log their worst day since last December yesterday as the threat of a transatlantic trade war and dismal economic data added to fears about a faltering global economy. Losses in…