Australian Market Declines


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

Higher interest rates boost US bank earnings

NEW YORK, Oct 13 ― A solid US economy and rising interest rates boosted the profits of large US banks, according to earnings reports yesterday, despite President Donald Trump's antagonism to rate hikes by the central bank. The results from…

Comcast demonstrates Sky-high ambition in global media shake-up

LONDON, Sept 24 — US cable giant Comcast scored a big win in the scramble for media assets by beating Rupert Murdoch, and his backer Disney, in the battle for Sky with an eye-watering US$40 billion (RM165.2 billion) bid. It was a "great day" for…

Constant innovation, healthy workforce the cornerstone success – Top Glove

KUALA LUMPUR: Constant innovation and a culture of health — these are two things that are the cornerstone of the success of the world’s largest manufacturer of gloves, Top Glove Corporation Bhd (Top Glove). In a press statement, its founder and executive chairman, Tan Sri Dr Lim Wee Chai, in Standard Chartered’s inaugural Inspiring Leadership […]

Sonny's roadshow: How Trump's agri chief sells trade war to farmers

VERONA, Sept 14 — Breaking off from a tour of dairy operations on a farm in upstate New York, US Agriculture Secretary Sonny Perdue tramps across a muddy path to take a sample of sweet corn from an adjacent field. With a wide smile, he shucks the…

Government to review several subsidy systems

KUALA LUMPUR: The government is expected to review several subsidy systems by next year, says Maybank Investment Bank Bhd (Maybank IB) Group chief economist Suhaimi Ilias. He said Prime Minister Tun Dr Mahathir Mohamad had earlier mentioned the possibility of reviewing the 1Malaysia People’s Aid (BRIM) and other social welfare payments to make it more […]

Economist: Govt to review several subsidy systems next year

KUALA LUMPUR, Aug 26 ― The government is expected to review several subsidy systems by next year, says Maybank Investment Bank Bhd (Maybank IB) Group Chief Economist Suhaimi Ilias. He said Prime Minister Tun Dr Mahathir Mohamad had earlier…

Malaysian stocks rebound as PM takes off for China


KUALA LUMPUR (Aug 17): Malaysian stocks closed higher today with the FBM KLCI up 6.2 points or 0.35% at 1,783.47 points, but underperforming its regional peers as investors here remained in profit-taking mode. “The big event to watch out for next week will be the prime minister’s official visit to China,” TA Securities senior technical analyst Stephen Soo told He opined that the market is likely to continue trading sideways as investors await signals from the visit, amid global economic concerns. “The momentum going forward may be softer, withRead More

Bursa ends higher on continued buying momentum

KUALA LUMPUR, Aug 17 — Bursa Malaysia ended on a positive note today following continued buying momentum in selected heavyweights led by Public Bank, and lower liners, dealers said.  At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM…

Bursa M’sia ends higher on continued buying momentum

KUALA LUMPUR: Bursa Malaysia ended on a positive note today following continued buying momentum in selected heavyweights led by Public Bank, and lower liners, dealers said.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 6.20 points or 0.35% firmer at 1,783.47 from Thursday's close of 1,777.27.

The index opened 3.37 points higher at 1,780.64 and moved between 1,780.26 and 1,785.03 throughout the trading session.

On the broader market, gainers outpaced losers 466 to 403 with 451 counters unchanged, 561 untraded and 30 others suspended.

Volume eased to 2.0 billion units valued at RM2.03 billion from 2.10 billion units worth RM1.91 billion on Thursday.

M&A Securities Sdn Bhd Chief Dealing Officer R Sundararajah said market sentiment was boosted by news on the revival of trade talks between the US and China later this month and stronger corporate earnings by some companies in the US equity market.

“Closer to home, markets have yet to react on Bank Negara Malaysia's (BNM) announcement on the second-quarter gross domestic product (GDP) growth, which grew at 4.5% compared with 5.8% in the same period last year,” he told Bernama today.

Meanwhile, BNM had revised downwards the country's full-year GDP growth for 2018 to five per cent from the 5.5-6.0% projected earlier, due to prolonged disruptions in oil and gas production, and low production in the agriculture sector.

On the local bourse, heavyweights, Public Bank rose two sen to RM24.50 and CIMB added one sen to RM5.89.

Maybank was down one sen to RM9.78, Tenaga eased four sen to RM15.70 and Petronas Chemicals lost 10 sen to RM9.14.

Of the actives, QES perked two sen to 26.5 sen, Inari gave up 12 sen to RM2.28 while Euro bagged 2.5 sen to 23.5 sen.

Among top gainers, BAT increased 56 sen o RM35.90, IQ Group advanced 43 sen to RM1.88 and MPI was 34 sen higher at RM12.14.

The FBM Emas Index improved 40.84 points to 12,619.57, the FBMT100 Index climbed 41.38 points to 12,389.40 and the FBM 70 put on 44.98 points to 15,383.45.

The FBM Emas Shariah Index gained 46.19 points to 12,781.04 and the FBM Ace was 29.36 points higher at 5,552.40.

Sector-wise, the Finance Index shed 0.42 of-a-point to 17,388.79 but the Plantation Index was up 55.55 points to 7,627.19 and the Industrial Index rose 8.65 points to 3,232.90.

Main Market volume slipped to 1.25 billion shares worth RM1.84 billion, from 1.39 billion shares valued at RM1.72 billion on Thursday.

Warrants turnover declined to 329.55 million units valued at RM80.25 million, against 372.13 million units valued at RM105.98 million recorded yesterday.

Volume on the ACE Market increased to 412.33 million shares valued at RM106.64 million, versus Thursday's 339.35 million shares valued at RM80.82 million.

Consumer products accounted for 125.38 million shares traded on the Main Market, industrial products (271.68 million), construction (111.78 million), trade and services (412.80 million), technology (151.27 million), infrastructure (13.94 million), SPAC (3.07 million), finance (44.38 million), hotels (292,300), properties (98.76 million), plantations (21.04 million), mining (10,600), REITs (2.44 million), and closed/fund (5,000). — Bernama