global economic

 
 

Euro-area growth unexpectedly gathers pace as risks persist

LONDON, June 22 — Economic momentum in the euro area unexpectedly picked up in June, suggesting the 19-nation bloc is starting to recover from a temporary soft patch just as risks to the outlook increase. Private-sector growth also gathered pace…


Asian shares subdued amid lull in trade spat, oil eases into Opec

SYDNEY, June 21 — Asian shares were subdued today as a lull in the Sino-US trade tussle helped calm nerves enough for the Nasdaq to reach a record high, while tensions in the oil market grew ahead of an Opec meeting that may expand crude supply….


Bursa Malaysia ends at over 6 1/2-month low

KUALA LUMPUR: Bursa Malaysia ended at a six-and-a half month low with the FTSE Bursa Malaysia KLCI (FBM KLCI) losing 28.07 points or 1.61% to 1,715.36, the lowest level seen since Dec 4, 2017, in tandem with losses in regional bourses which were reeling under the escalating trade war between the United States and China.

The index opened 5.23 points weaker at 1,738.20 from Monday's close of 1,743.43 and moved between 1,715.36 and 1,739.25 throughout the day.

Market sentiment remained bearish with losers outpacing gainers 673 to 226 with 386 counters unchanged, 624 untraded and 24 others were suspended.

Turnover stood at 2.30 billion shares worth RM2.65 billion.

A dealer said in line with other regional bourses, Bursa Malaysia was affected by the downtrend in China's stock market after the United States and China announced plans to impose tariffs on billions of dollars in imported goods.

US President Donald Trump announced US$$50 billion in new tariffs on Chinese imports last Friday while China retaliated by slapping tariffs of US$34 billion on US imports within 24 hours of Trump's move.

Traders expressed concerns the new tariffs could negatively affect global economic growth.

Regionally, Shanghai Composite Index slumped 114.08 points or 3.78% to 2,907.82, Hong Kong's Hang Seng dipped 841.34 points or 2.78% to 29,468.15 and Japan's Nikkei retreated 401.85 points or 1.77% to 22,278.48.

Back home, among the actively traded stocks, Sapura Energy gave up three sen to 60 sen while MyEG gained 1.5 sen to 98 sen, Kretam was half-a-sen better at 46.5 sen while Nova MSC and Nexgram were unchanged at 13.5 sen and 3.5 sen, respectively.

Of heavyweights, Maybank shed 27 sen to RM9.28, Public Bank erased 64 sen to RM23.36, Digi slipped 14 sen to RM4.33, Axiata was seven sen easier at RM4.34 and Tenaga dropped 16 sen to RM14.16.

The FBM Emas Index slid 171.34 points to 12,095.24, the FBMT100 Index declined 170.75 points to 11,881.34, the FBM Emas Shariah Index erased 156.73 points to 12,168.72, the FBM70 was 121.54 points lower at 14,622.14 and the FBM Ace Index trimmed 87.37 points to 5,233.01.

Sector-wise, the Finance Index dipped 290.09 points to 17,081.57, the Industrial Index lost 28.52 points to 3,124.18 and the Plantation Index declined 28.35 points to 7,643.39.

Main Market volume was flat at 1.28 billion shares, worth RM2.41 billion, from Monday's 1.28 billion shares worth RM1.93 billion.

Warrants volume jumped to 681.61 million units valued at RM182.80 million versus 230.07 million units valued at RM27.98 million yesterday.

Volume on the ACE Market fell to 335.58 million shares, worth RM31.25 million, from 396.28 million shares, valued at RM69.68 million previously.

Consumer products accounted for 28.79 million shares traded on the Main Market, industrial products (214.84 million), construction (87.70 million), trade and services (554.36 million), technology (71.06 million), infrastructure (29.75 million), SPAC (1.68 million), finance (80.01 million), hotels (675,300 million), properties (104.78 million), plantations (82.08 million), mining (57,300), REITs (1.96 million) and closed/fund (18,000). — Bernama


Bursa ends lower on US-China trade war

KUALA LUMPUR, June 19 — Bursa Malaysia ended at a six-and-a half month low with the FTSE Bursa Malaysia KLCI (FBM KLCI) losing 28.07 points or 1.61 per cent to 1,715.36, the lowest level seen since Dec 4, 2017, in tandem with losses in…


BRIC inventor says G-7 'irrelevant' as China and India left out

NEW YORK, June 13 — Donald Trump was right to call for a shakeup in the Group of Seven membership. He just picked the wrong emerging market to add, according to Jim O’Neill. The former chairman of Goldman Sachs Asset Management, who famously…


Opec sees ‘considerable uncertainty’ in oil market

PARIS, June 12 — After months of sharp oil price rises there is now considerable uncertainty as to the market’s direction for the rest of the year, Opec said today as a key meeting of oil producers looms. Question marks over global economic…


IMF's Lagarde says global economic outlook darkening by the day

BERLIN, June 12 — International Monetary Fund chief Christine Lagarde led an attack by global economic organisations on US President Donald Trump's “America First” trade policy yesterday, warning that clouds over the global economy “are…


KLCI moves higher, tracks regional gains

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KUALA LUMPUR (June 7): The FBM KLCI extended its gains in early trade this morning in line with the overnight rally at Wall Street and regional markets today. At 9.05am, the FBM KLCI rose 3.96 points to 1,781.09. A global stocks rally extended its run in Asia Thursday on confidence the global economic expansion remains in tact and on hopes a full-blown trade war will be averted. Treasuries fell, sending 10-year yields back up towards 3 percent, according to Bloomberg. Equities in Japan, South Korea and Australia gained after the S&PRead More


SMEs in Malaysia to invest more in tech to drive performance

KUCHING: Small and medium enterprises (SMEs) in Malaysia plan to invest more in technology in order to succeed under increasingly challenging conditions, according to the findings of the Asean SME Transformation Study by United Overseas Bank (UOB) and Dun & Bradstreet. The survey found that 65 per cent of Malaysia’s SMEs will focus their investments […]


US said to ask Opec for output hike

WASHINGTON, June 5 — The US government has quietly asked Saudi Arabia and some other Opec producers to increase oil production by about one million barrels a day, according to people familiar with the matter. The rare request came after US retail…