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FBM KLCI stages rebound, foreign selling bottoms out

KUALA LUMPUR, May 25 — The market barometer FBM KLCI today staged a rebound after 12 days of decline when it closed 21.7 points higher  at 1,797 points. There were 506 counters up and 397 down, with the value of shares traded valued at RM2.9…


CIMB records RM920m gain from ownership realignment in asset management units

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KUALA LUMPUR (May 25): CIMB Group Holdings Bhd has completed the realignment of ownership stakes with Principal Financial Group in its CIMB-Principal joint ventures (JVs) across Asean. The exercise sees CIMB recording a gain of RM920 million and about 15-basis-point increase in its common equity Tier 1 ratio. Principal has now increased its stake to 60% in both CIMB-Principal Asset Management Group and CIMB-Principal Islamic Asset Management, with CIMB holding the rest. CIMB previously had 60% ownership in CIMB-Principal Asset Management and 50% in CIMB-Principal Islamic Asset Management. The JVsRead More


Bursa Malaysia snaps three days of losses to end higher

KUALA LUMPUR: Bursa Malaysia snapped three days of losses to close higher today on renewed buying interest as the over-reaction to the national debt level eases, despite the mixed performance by regional peers, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed at 1,797.40, up 21.74 points from Thursday's close of 1,775.66.

The index opened 17.14 points higher at 1,792.82 and moved between 1,785.12 and 1,897.81 throughout the day.

Hermana Capital Bhd's Chief Executive Officer and Chief Investment Officer Datuk Dr Nazri Khan Adam Khan said investors heaved a sigh of relief at the over-reaction rally today after the market sank on concerns over the national debt level of about RM1 trillion.

“The statement from the Chinese investors recently saying that they are confident and looking forward to continue their businesses under the new government has also provided some support to the market and this would likely continue into next week,” he told Bernama today.

On the regional front, another dealer said Asian markets were traded mixed in the early session today due to fresh concerns after the US President Donald Trump cancelled his upcoming summit with North Korean leader Kim Jong-Un.

Among heavyweights, Maybank was flat at RM10.26, Public Bank jumped 56 sen to RM24.92, TNB rose 28 sen to RM15.04, CIMB gained seven sen to RM6.12 while Petronas Chemicals slipped two sen to RM8.32.

Among actives, NETX and Sapura energy earned half-a-sen each to three sen and 69.5 sen, respectively, YTL Power added 5.5 sen to 80.5 sen, while MyEG slipped three sen to 76.5 sen and Berjaya Corp eased half-a-sen to 30 sen.

Market breadth was positive with gainers trouncing losers 506 to 397, with 407 counters unchanged, 597 untraded and 26 others suspended.

Volume decreased to 2.20 billion units valued at RM2.95 billion from Thursday's 2.87 billion units valued at RM3.86 billion.

The FBM Emas Index increased 144.82 points to 12,540.78, the FBM Ace put on 37.54 points to 5,189.61 and the FBMT 100 Index went up 150.72 points to 12,348.68.

The FBM Emas Shariah Index perked 140.35 points to 12,608.30 and the FBM 70 bagged 185.79 points to 14,840.62.

Sector-wise, the Finance Index surged 156.67 points to 17,879.56, the Industrial Index advanced 15.46 points to 3,213.41 while the Plantation Index rose 6.58 points to 7,844.11.

Main Market volume declined to 1.35 billion shares worth RM2.80 billion from Thursday's 1.80 billion shares worth RM3.69 billion.

Warrants volume shrank to 562.02 million units valued at RM116.83 million from 812.43 million units worth at RM127.46 million.

Volume on the ACE Market improved to 280.26 million shares worth RM34.72 million from 253.96 million shares worth RM46.95 million recorded yesterday.

Consumer products accounted for 63.30 million shares traded on the Main Market, industrial products (181.22 million), construction (78.17 million), trade and services (665.37 million), technology (58.68 million), infrastructure (103.44 million), SPAC (993,200), finance (69.96 million), hotels (6.23 million), properties (77.63 million), plantations (34.51 million), mining (14,700), REITs (15.42 million) and closed/fund (nil). — Bernama


Bursa snaps three-day loss to end higher

KUALA LUMPUR, May 25 — Bursa Malaysia snapped three days of losses to close higher today on renewed buying interest as the over-reaction to the national debt level eases, despite the mixed performance by regional peers, dealers said. The…


CIMB Group, Principal complete equity realignment

KUALA LUMPUR, May 25 — CIMB Group Holdings Bhd announced today the completion of its shareholding realignment with Principal Financial Group (Principal) in CIMB-Principal joint ventures across Asean. CIMB Group chief executive officer Tengku Datuk…


Most muted; Malaysia, Indonesia gain

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(May 25): Malaysian shares climbed on Friday, after five sessions of losses and Bank Indonesia governor’s promise to focus on stabilising the rupiah helped local shares extend gains, while trading was muted in the other Southeast Asian stock markets. Indonesia’s newly sworn-in central bank governor, Perry Warjiyo, on Thursday said he aimed to use interest rate policy to stabilise the rupiah in the near term and to be “more pre-emptive” and ahead of the curve on monetary settings. “This comment was very much needed at this point of time, becauseRead More


ML Global revenue up 13pc in Q1 2018

KUALA LUMPUR, May 25 — ML Global Bhd reported revenue in the first quarter was 13 per cent higher in the same period last year, rising to RM1.69 billion from RM1.5 billion. In a Bursa filing today, it attributed the overall improvement to the…


K-Star, Lee Swee Kiat, Sarawak Consolidated

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KUALA LUMPUR (May 25): theedgemarkets.com highlighted 3 stock with momentum at Bursa Malaysia’s afternoon market close today. It showed 1 with positive momentum and 2 with negative momentum. Stocks with positive momentum were: K-Star Sports Limited – unchanged at 11 sen Stocks with negative momentum were: Lee Swee Kiat Group Bhd – up 5.5 sen to 87.5 sen Sarawak Consolidated Industries Bhd – up one sen to 70 sen The list of stocks with momentum is generated using a proprietary mathematical algorithm highlighting stocks with a build-up in trading volume and price.Read More


Malaysian market to bounce back as risk appetite picks up

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KUALA LUMPUR: The Malaysian stock market is expected to bounce back as risk appetite picks up in the coming months resulting from the Pakatan Harapan led Federal Government’s greater transparency, governance and clarity on the direction of the economy. AmBank Economic Research said on Friday the government’s annnouncement that public debt reached RM1.09 trillion or 80.3% of the gross domestic product (GDP) had raised concerns. Among the worries were whether the borrowings will help improve growth or weigh on the economy and also future generations. “A key concern is theRead More