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Banks lead US stock slide, extending market’s losing streak

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Banks led a broad slide in U.S. stocks Monday as an early rally faded, giving the benchmark S&P 500 index its fourth straight loss. Health care and energy stocks also helped pull the market lower, outweighing gains by technology and consumer-focused stocks. Crude oil prices eked out a small gain after spending most of the day in the red. The latest losses came as traders geared up for a busy week of company earnings reports that should help answer how Corporate America is coping with rising interest rates, inflation andRead More


KL shares lower on external development woes

KUALA LUMPUR: Share prices on Bursa Malaysia opened lower and slipped further thereafter this morning as buying sentiment was pressured by unfavourable external developments.

At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.18 points lower at 1,719.29 from yesterday's close of 1,722.47.

The index opened 0.97 of-a-point lower at 1,721.5.

In a note, PublicInvest Research said among external concerns affecting the FBM KLCI was the weaker overnight performance on Wall Street.

“In the US, energy stocks were among the worst performers in the S&P 500 as Brent oil struggled to regain the US$80-a-barrel mark after Saudi Arabia said it was likely to increase crude output.

“Furthermore, a broadly disappointing round of US corporate earnings added to the cautious mood,” it added.

On the broader market, losers led gainers 127 to 78 with 143 unchanged, 1,556 counters untraded and 29 others were suspended.

Volume stood at 94.1 million units valued at RM53.38 million.

Among heavyweights in Bursa Malaysia, Maybank eased seven sen to RM9.53, Tenaga fell eight sen to RM14.42, while Public Bank and Petronas Chemicals were flat at RM24.98 and RM9.38, respectively.

For actives, Pesona Metro fell half-a-sen to 27 sen, Prestariang rose 3.5 sen to 47.5 sen and MYEG was one sen weaker at RM1.37.

The FBM Emas Shariah Index decreased 11.71 points to 11,851.72, the FBM Ace Index decreased 0.21 of-a-point to 5,071.39 and the FBM 70 was down 12.74 points at 13,679.68.

The FBM Emas Index declined 19.77 points to 11,884.37 and the FBMT 100 Index lost 19.21 points to 11,713.95.

Sector-wise, the Plantation Index added 6.61 points to 7,410, the Industrial Products and Services Index was 0.04 of-a-point weaker at 171.84 and the Financial Services Index fell 54.63 points to 17,441.9.

The physical price of gold as at 9.30am stood at RM158.34 per gramme, up 12 sen from RM158.22 at 5.00pm yesterday. — Bernama


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Not out of the bearish trend

The market rebounded as expected after the FBM KLCI found support at 1,683 points in the sell down two weeks ago. The local market performance was in line with global markets which have also rebounded from a bearish market. The FBM KLCI increased only 0.1 per cent in a week to close 1,732.14 points last […]


Asia shares extend slump as global sentiment sours

SHANGHAI, Oct 19 ― Stocks in Asia fell today as global sentiment soured on issues ranging from trade worries, Italy's 2019 budget, higher US interest rates and growth concerns in China that led to a slump in Chinese shares in the previous session….


KL shares end lower on bearish sentiment

KUALA LUMPUR: Bursa Malaysia closed lower today on bearish sentiment amid the weaker regional markets.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 2.58 points to 1,738.01 against Wednesday's close of 1,740.59.

The index opened 2.19 points lower at 1,738.40 and moved between 1,735.07 and 1,740.83 throughout the day.

A dealer said Asian stocks were broadly lower as the US Federal Reserve's report hinted at more rate hikes ahead.

Japan's Nikkei 225 edged down 0.80% to 22,658.16, China's Shanghai Composite Index decreased 2.94% to 2,486.42 and Hong Kong's Hang Seng eased 0.03% to 25,454.55.

Among Bursa Malaysia's heavyweights, Maybank added one sen to RM9.60 and Public Bank gained four sen to RM25.02.

TNB declined two sen to RM14.58 and Petronas Chemicals eased one sen to RM9.34 while CIMB was flat at RM6.03.

As for actives, Borneo Oil and Sapura Energy slipped half-a-sen each to five sen and 34.5 sen respectively, MRCB declined two sen to 77.5 sen and Tiger Synergy lost one sen to 5.5 sen.

Lion Industries added 2.5 sen to 80 sen.

Market breadth was negative with losers leading gainers 472 to 338, with 371 counters unchanged, 728 untraded and 51 others suspended.

Volume was lower at 2.0 billion units valued at RM2.02 billion from Wednesday's 2.02 billion units valued at RM2.08 billion.

The FBM Emas Index fell 17.44 points to 12,031.24, the FBM Emas Syariah Index slid 30.79 points to 12,040.09 and the FBMT 100 Index decreased 16.59 points to 11,854.99.

The FBM Ace Index jumped 40.11 points to 5,096.97 but the FBM 70 erased 15.63 points to 13,896.77.

Sector-wise, the Plantation Index was 39.11 points lower at 7,386.89 while the Industrial Products and Services Index added 0.24 of-a-point to 173.16 and the Financial Services Index increased 7.31 points to 17,582.97.

Main Market volume shrank to 1.44 billion shares worth RM1.9 billion from Wednesday's 1.62 billion shares worth RM1.98 billion.

Warrants turnover rose to 342.56 million units valued at RM73.69 million from yesterday's 205.37 million units valued at RM27.64 million.

Volume on the ACE Market decreased to 201.01 million shares worth RM51.59 million from 294 million shares worth RM63.67 million previously.

Consumer products and services accounted for 158.31 million shares traded on the Main Market, industrial products and services (380.31 million), construction (116.69 million), technology (135.88 million), SPAC (1.68 million), financial services (44.27 million), property (230.71 million), plantations (30.35 million), REITs (2.51 million), closed/fund (3,500), energy (245.26 million), healthcare (19.37 million), telecommunication and media (29.23 million), transportation and logistics (11.32 million) and utilities (42.48 million).

The physical price of gold as at 5pm stood at RM158.09 per gramme, down 28 sen from RM158.37 at 5pm yesterday. — Bernama


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Australian Market Declines

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The Australian stock market is declining on Thursday following the modest losses overnight on Wall Street in a choppy session after minutes of the Federal Reserve’s latest monetary policy meeting indicated at more interest rate hikes moving forward. Gains by miners were more than offset by weakness in banks and oil stocks. In late-morning trades, the benchmark S&P/ASX 200 Index is declining 15.70 points or 0.26 percent to 5,923.40, off a low of 5,914.90. The broader All Ordinaries Index is down 17.10 points or 0.28 percent to 6,030.00. Australian stocksRead More