BEIJING, Dec 18 — Chinese President Xi Jinping called today for the unswerving implementation of reforms on Beijing’s terms but offered no new specific measures in a closely watched speech marking 40 years of market liberalisation. In remarks…
NEW YORK, Dec 17 — Wall Street’s woes continued today, with the major indices sinking further into correction as the horizon grew gloomier for investors. Markets already were cautious in advance of this week’s Federal Reserve meeting,…
KUALA LUMPUR, Dec 17 — An “air miles credit card” is a credit card that offers you the chance to earn air miles as one of its main benefits. Frequent travellers who accumulate enough air miles can use them to claim free flights, offset part of…
Fundamental outlook CHINA announced a standstill of the 25 per cent import tariff on US automobile imports starting from January 1. This was in-line with the 90-day truce with US Government to retain the status-quo while entering into a new negotiation phase to iron out the trade imbalance. China’s industrial production and retail sales on […]
The FBM KLCI remained bearish last week as sentiment remained bearish on generally bearish markets performances regionally. There are no positive catalysts last week but weaker ringgit and falling crude oil prices affected the market negatively. The index fell to its lowest since January 2017 last Wednesday before rebounding. The benchmark FBM KLCI eventually fell […]
LONDON, Dec 15 ― Weak economic data from China sent Britain's top stock index down yesterday as miners, consumer stocks and banks suffered from investors' mounting anxiety about the world's second-biggest economy. The FTSE 100 ended the day down…
KUALA LUMPUR: The Construction Industry Development Board (CIDB) has published a list of certified local construction materials and products for 2017. CIDB in a statement said the 359-page publication contains a list of manufacturers who have obtained the certificate of standard compliance (PPS) from CIDB since 2016. A total of 120 products in 13 categories […]
LONDON, Dec 12 — Stock markets rallied today as US President Donald Trump sounded upbeat about doing a trade deal with China, while sterling jumped off 20-month lows as Prime Minister Theresa May vowed to fight a challenge to her leadership….
KUALA LUMPUR: Bursa Malaysia snapped a six-day losing streak by closing firmer today, with the benchmark index moving into positive territory spurred by buying support in index-linked counters such as CIMB and Public Bank, dealers said.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 10.64 points to finish at 1,663.27 after fluctuating between 1,656.47 and 1,667.7 throughout the day.
Contributing a total of 6.825 points to the key index, CIMB soared 24 sen to RM5.75 after 13.74 million shares changed hands while Public Bank surged 40 sen to RM24.90 with 2.96 million shares transacted.
Gainers led losers 394 to 371, while 390 counters were unchanged, 750 untraded and 38 others suspended.
Total volume increased to 2.07 billion units worth RM1.94 billion from 1.43 billion units valued at RM1.51 billion recorded yesterday.
Maybank IB Research, in a note today, projected CIMB to record a faster earnings growth of 11% in financial year (FY) 2019.
The higher growth was on the back of more stable net interest margins and credit costs, leading to a recovery in return on average equity to 10% from 9.4% (excluding one-offs) in FY18, it said.
Meanwhile, a dealer said the uptrend on Bursa was in tandem with its regional peers’ performance amid improved market sentiment as investors were upbeat over an easing in trade tensions between the US and China.
Among heavyweights, Maybank eased five sen to RM9.29, Tenaga lost four sen to RM13.50, and Petronas Chemicals slipped one sen to RM9.17, but IHH Healthcare added 11 sen to RM5.60.
Of actives, MyEG shed 17 sen to 84 sen, Bumi Armada gained 1.5 sen to 17.5 sen, while Priceworth was flat at 4.5 sen.
The FBM Emas Syariah Index was 7.08 points better at 11,406.61, the FBM Emas Index improved 51.19 points to 11,435.86 and the FBMT 100 Index edged up 53.59 points to 11,326.89.
However, the FBM Ace Index fell 13.47 points to 4,532.75, and the FBM 70 erased 11.4 points to 13,206.29.
Sector-wise, the Financial Services Index bolstered 151.12 points to 17,289.69 and the Plantation Index bagged 27.96 points to 6,660.48, but the Industrial Products and Services Index eased 0.24 of-a-point to 167.19.
Main Market volume increased to 1.41 billion shares worth RM1.81 billion from 980.18 million shares valued at RM1.41 billion on Tuesday.
Warrants turnover advanced to 390.18 million units worth RM84.56 million from 286.99 million units valued at RM68.08 million.
Volume on the ACE Market widened to 267.68 million shares worth RM38.93 million compared with 161.23 million shares worth RM27.08 million.
Consumer products and services accounted for 1.38 million shares traded on the Main Market, industrial products and services (248.84 billion), construction (75.7 million), technology (337.53 million), SPAC (581,000), financial services (39.03 million), property (88.19 million), plantations (24.69 million), REITs (8.09 million), closed/fund (42,400), energy (289.07 million), healthcare (48.76 million), telecommunication and media (36.05 million), transportation and logistics (50.25 million), and utilities (22.45 million).
The physical price of gold as at 5pm stood at RM161.98 per gramme, down 46 sen from RM162.44 at 5pm yesterday. — Bernama
KUALA LUMPUR: Bursa Malaysia snapped its six-day losing streak to open higher today, amid a recovery in global market sentiment, following fresh developments in US-China trade relations, dealers said.
At 9.03 am, the key FTSE Bursa Malaysia KLCI (FBM KLCI) rebounded 4.65 points to 1,657.28 from yesterday’s close of 1,652.63.
The index opened 4.46 points better at 1,657.09.
Market breadth was positive as gainers led decliners 114 to 40, with 99 counters unchanged, 1,652 untraded and 38 others suspended.
Volume stood at 77.75 million units valued at RM25.17 million
A dealer said sentiment was fuelled by reports that China HAD agreed to cut tariffs on US autos to 15 per cent from 40 per cent.
Back home, among the heavyweights, Maybank was flat at RM9.34, Petronas Chemicals bagged seven sen to RM9.25, CIMB gained three sen to RM5.54, and Public Bank rose 24 sen to RM24.74.
Tenaga, however, slipped 10 sen to RM13.44.
Among actives, Vortex inched up half-a-sen to 9.5 sen, while Hubline, Bumi Armada and PUC were all flat at four sen, 16 sen and 11.5 sen respectively.
The FBM Emas Shariah Index was 21.97 points higher at 11,421.51, the FBM 70 perked 31.06 points to 13,248.75 and the FBM Ace Index edged up 17.38 points to 4,563.6.
The FBM Emas Index rose 32.35 points to 11,417.02 and the FBMT 100 Index increased 30.53 points to 11,303.83.
Sector-wise, the Plantation Index bagged 34.91 points at 6,667.43 and the Industrial Products and Services Index added 0.51 of-a-point to 167.94, but the Financial Services Index improved 58.22 points to 17,196.79.
Gold futures contracts on Bursa Malaysia Derivatives were unchanged this morning on a lack of demand.
At 9.38 am, December 2018, January 2019, February 2019 and March 2019 were unchanged at RM167, RM167, RM167.10 and RM167.2 a gramme respectively.
Volume was nil, while open interest amounted to 27 contracts.
At 9.30 am, the price of physical gold was down 61 sen to RM161.83 per gramme. — Bernama