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Bursa extends last week's gain, opens higher

KUALA LUMPUR, Sept 17 — Bursa Malaysia extended last week's gains to open higher today, lifted by continuous buying support in selected heavyweight counters, despite mixed trading in the regional bourses and weaker Wall Street. At 9.05am, the…


Bursa extends last week's gain, opens higher

KUALA LUMPUR, Sept 17 — Bursa Malaysia extended last week's gains to open higher today, lifted by continuous buying support in selected heavyweight counters, despite mixed trading in the regional bourses and weaker Wall Street. At 9.05am, the…


Bursa extends last week's gain, opens higher

KUALA LUMPUR, Sept 17 — Bursa Malaysia extended last week's gains to open higher today, lifted by continuous buying support in selected heavyweight counters, despite mixed trading in the regional bourses and weaker Wall Street. At 9.05am, the…


Bursa Malaysia opens higher, ECB stimulus lift

KUALA LUMPUR: Bursa Malaysia opened higher in early trade Friday, tracking closely the positive overnight performance of the US equities markets, as investors lauded European Central Bank (ECB) move to launch fresh stimulus.

At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.69 points to 1,602.69 compared to Thursday’s close of 1,601.0.

At the opening, the market barometer was 0.31 of-a-point lower at 1,600.69.

The ECB yesterday cut its main deposit rate by 10 basis points to -0.5% and introduced a new bond-buying program, which will entail 20 billion euros per month of asset purchases for as long as it deems necessary.

At home, Malacca Securities Sdn Bhd said stronger impetuses are required to ensure a sustainable uptrend as the recent gains have seen little support, resulting in the key index lingering within a tight band of between the 1,590 and 1,610 levels.

“Although we think that the key index could regain some of its lost ground to end the week, we still think the market’s undercurrent remains indifferent and this could also mean that any near term upsides will be limited,“ it said in a note.

In addition, most market players are still unsure of the market’s direction, keeping many players on the sidelines and the overall market participation on the thin side.

Topping the heavyweights’ list, Maybank rose three sen to RM8.93, Petronas Chemicals bagged five sen to RM7.56, Tenaga was four sen higher at RM13.48 and CIMB added two sen to RM5.02.

Of the actives, Green Packet and Bumi Armada were both flat at 25.5 sen and 27.5 sen respectively.

Vsolar advanced by half-a-sen to 11 sen and I-Stone gained one sen to 18.5 sen.

The FBM Emas Index recovered 12.99 points to 11,296.06, the FBMT100 Index increased 13.00 points to 11,130.88 and the FBM Emas Shariah Index appreciated 5.16 points to 11,811.57.

The FBM Ace expanded 2.69 points to 4,531.48 and the FBM 70 inched up 21.63 points to 13,894.75.

Sector-wise, the Financial Services Index up 38.37 points to 15,588.76, the Plantation Index improved 4.05 points to 6,806.36 and the Industrial Products and Services Index was 0.44 of-a-point up at 153.33.

There are 116 gainers, 75 losers on Bursa Malaysia, while 177 counters remained unchanged, 1,611 untraded and 23 others suspended.

Turnover stood at 152.89 million units worth RM48.19 million.

The physical price of gold as at 5pm stood at RM193.87 per gramme, down 98 sen from RM194.85 at 5pm yesterday. — Bernama


Bursa Malaysia opens higher, ECB stimulus lift

KUALA LUMPUR: Bursa Malaysia opened higher in early trade Friday, tracking closely the positive overnight performance of the US equities markets, as investors lauded European Central Bank (ECB) move to launch fresh stimulus.

At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.69 points to 1,602.69 compared to Thursday’s close of 1,601.0.

At the opening, the market barometer was 0.31 of-a-point lower at 1,600.69.

The ECB yesterday cut its main deposit rate by 10 basis points to -0.5% and introduced a new bond-buying program, which will entail 20 billion euros per month of asset purchases for as long as it deems necessary.

At home, Malacca Securities Sdn Bhd said stronger impetuses are required to ensure a sustainable uptrend as the recent gains have seen little support, resulting in the key index lingering within a tight band of between the 1,590 and 1,610 levels.

“Although we think that the key index could regain some of its lost ground to end the week, we still think the market’s undercurrent remains indifferent and this could also mean that any near term upsides will be limited,“ it said in a note.

In addition, most market players are still unsure of the market’s direction, keeping many players on the sidelines and the overall market participation on the thin side.

Topping the heavyweights’ list, Maybank rose three sen to RM8.93, Petronas Chemicals bagged five sen to RM7.56, Tenaga was four sen higher at RM13.48 and CIMB added two sen to RM5.02.

Of the actives, Green Packet and Bumi Armada were both flat at 25.5 sen and 27.5 sen respectively.

Vsolar advanced by half-a-sen to 11 sen and I-Stone gained one sen to 18.5 sen.

The FBM Emas Index recovered 12.99 points to 11,296.06, the FBMT100 Index increased 13.00 points to 11,130.88 and the FBM Emas Shariah Index appreciated 5.16 points to 11,811.57.

The FBM Ace expanded 2.69 points to 4,531.48 and the FBM 70 inched up 21.63 points to 13,894.75.

Sector-wise, the Financial Services Index up 38.37 points to 15,588.76, the Plantation Index improved 4.05 points to 6,806.36 and the Industrial Products and Services Index was 0.44 of-a-point up at 153.33.

There are 116 gainers, 75 losers on Bursa Malaysia, while 177 counters remained unchanged, 1,611 untraded and 23 others suspended.

Turnover stood at 152.89 million units worth RM48.19 million.

The physical price of gold as at 5pm stood at RM193.87 per gramme, down 98 sen from RM194.85 at 5pm yesterday. — Bernama


Bursa Malaysia extends gains as Wall Street rise

KUALA LUMPUR: Bursa Malaysia extended yesterday’s steady momentum to opened higher on Thursday, amid a buoyant Wall Street.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.37 points to 1,604.67 compared to Wednesday’s close of 1,602.30.

The market barometer opened 0.91 of-a-point better at 1,603.21.

Hope for stimulus to support growth in the world’s major economies boosted investors’ sentiment ahead of the European Central Bank (ECB) meeting today.

The ECB is expected to cut interest rates and detail plans for stimulus measures when it concludes its meeting on Thursday.

Investors also expect the Federal Reserve to deliver a 25 basis-point rate cut next week, Public Investment Bank Bhd said in a note today.

The FBM KLCI according to the investment bank will track the overnight Wall Street performance, after the S&P 500 ended above 3,000 for the first time since late July.

The S&P 500 was up 0.7%, edging closer to a fresh record high, led by healthcare and tech, mainly Apple, as the tech company’s market capitalisation climbed back above the US$1 trillion marks as investors cheered its lower-priced iPhone 11 and Apple TV+ subscription.

Malacca Securities Sdn Bhd said the market is much calmer after incremental progress is made on the US-China trade dispute with the former delaying the implementation of higher tariffs on China made goods by two weeks in October.

“The above positives will help to provide the much-needed catalysts for Malaysian equities to maintain their upward trajectory which may now see the key index making a pass at the 1,610 level,“ it added.

Of the heavyweights, Petronas Chemical added 12 sen to RM7.35, MISC was 13 sen higher at RM7.92 and Maybank rose five sen to RM8.94.

Hong Leong Bank was 16 sen better at RM16.56 and CIMB was higher by three sen at RM5.06.

Of the actives, Hubline inched up half-a-sen to 5.5 sen after announced proposal to acquire a 75% stake in Absolute Privilege Sdn Bhd for RM16.36 million.

Tadmax went up one sen to 32 sen and Green Packet advanced half-a-sen to 25 sen.

The FBM Emas Index edged up 16.69 points to 11,308.55, the FBMT100 Index improved 16.43 points to 11,144.24 and the FBM Emas Shariah Index rose 6.21 points to 11,823.36.

The FBM Ace increased 19.18 points to 4,524.91 and the FBM 70 expanded 20.50 points to 13,909.76.

Sector-wise, the Financial Services Index gained 63.79 points to 15,624.89, the Plantation Index dropped 27.86 points to 6,817.88 and the Industrial Products and Services Index was 0.94 of-a-point up at 151.93.

Market breadth was positive as gainers led loses 153 to 73, with 149 counters unchanged, 1,594 untraded and 15 others suspended.

Turnover stood at 90.38 million units worth RM42.69 million.

The physical price of gold as at 9.30am stood at RM193.68 per gramme, down 36 sen from RM194.04 at 5pm yesterday. — Bernama


Bursa extends gains as Wall Street rises

KUALA LUMPUR, Sept 12 — Bursa Malaysia extended yesterday's steady momentum to opened higher today, amid a buoyant Wall Street. At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.37 points to 1,604.67 compared to yesterday's close of…


Bursa Malaysia rebounds, led by Axiata

KUALA LUMPUR, Sept 11 ― Bursa Malaysia rebounded today, led by Axiata, which rose 1.2 per cent to RM4.16 after losing more than 15 per cent at yesterday’s close. At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.56 points to…


Bursa Malaysia opens lower but rebounded thereafter

KUALA LUMPUR: Bursa Malaysia opened lower but rebounded thereafter, extending yesterday’s uptrend, as investors were driven by positive market catalysts on the local and global fronts, dealers said.

At 9.15am, the FTSE Bursa Malaysia KLCI rose 1.83 points to 1,601.72 after opening 1.72 points lower at 1,598.17 compared with yesterday’s close of 1,599.89

Malacca Securities Sdn Bhd expected Bursa Malaysia to head higher as it cast aside the wariness over the market’s condition, driven by improved market sentiments brought about by the easing of Hong Kong political crisis and Malaysia’s better-than-expected export performance.

“We see the positivity continuing as the near term market conditions are showing some signs of stability that could provide further leeway for stocks to gain ground over the near term.

“As it is, the market has been deprived of positive leads for some time now and we see the market players capitalising on the calmer market conditions to bargain hunt some of the beaten-down stocks,” it said in a research note today.

Therefore, the research firm foresees the key index passing the 1,600 level and possibly target the next resistance at 1,610 over the near term, with the support levels, are at the 1,590 and 1,580 points respectively.

Among heavyweights, Maybank and Public Bank added four sen each to RM8.76 and RM20.30, respectively, TNB jumped six sen to RM13.82, while Petronas Chemicals slipped one sen to RM6.82 and IHH Healthcare was flat at RM5.76.

Of the actives, Sumatec Resources was flat at 2.5 sen, Priceworth International and Iris Corp eased half-a-sen each to 5.5 sen and 15.5 sen, respectively, while Bumi Armada earned half-a-sen to 27 sen.

On the scoreboard, the FBM Emas Index increased 18.81 points to 11,272.53, the FBMT 100 Index was 17.87 points higher at 11,110.22 and the FBM Emas Shariah Index edged up 13.76 points to 11,800.80.

The FBM Ace went down 13.93 points to 4,453.37 and the FBM 70 advanced 43.93 points to 13,811.31.

Sector-wise, the Financial Services Index rose 32.75 points to 15,512.91, the Plantation Index climbed 1.09 points to 6,916.60 while the Industrial Products and Services earned 0.21 of-a-point to 147.74.

On the broader market, gainers edged losers 166 to 84, with 212 counters unchanged, 1,475 untraded and 15 others suspended.

Turnover stood at 203.39 million units worth RM83.96 million. – Bernama


Bursa Malaysia rebounds at opening on renewed interest

KUALA LUMPUR: Bursa Malaysia rebounded from yesterday’s losses to trade higher in the early session today, driven by renewed buying interest in selected heavyweights due to lower prices, dealers said.

At 9.15am, the FTSE Bursa Malaysia KLCI rose 1.50 points to 1,593.02 after opening 2.45 points higher at 1,593.97 compared with yesterday’s close of 1,591.52.

In a research note today, Malacca Securities Sdn Bhd expected the dour sentiments which dominated the market condition yesterday would bring the key index back to around the 1,590 level.

“The pullback was also much steeper-than-expected as we thought that the profit-taking activities could be milder and the key index could hold around the 1,600 points level. After yesterday’s retreat, conditions on Bursa Malaysia is looking frail again and the overnight weakness on the key global indices will also cast a pall over the FBM KLCI’s near term performance.

“Already, the market environment is directionless with the escalating US-China trade dispute affecting sentiments and the latest readings of weak manufacturing purchasing managers index (PMIs), including that of Malaysia’s, fortifying the view that the global economic environment is reeling from the effects of the trade dispute, we see no improvements in the immediate market conditions,” it said.

Hence, it said, the near term weakness look to persist with the support is now lowered to the 1,580 level, followed by the year low of 1,572 points, with the 1,600 points level to be the immediate resistance, followed by the 1,610 level.

Among heavyweights, Maybank was flat at RM8.70, Public Bank rose two sen to RM20.10, Petronas Chemicals went up one sen to RM6.81, IHH Healthcare perked four sen to RM5.80 but TNB slipped two sen to RM13.74.

Of the actives, NETX Holdings and EA Holdings were flat at one sen each, Priceworth International added one sen to six sen while Opcom increased seven sen to 61.5 sen.

On the scoreboard, the FBM Emas Index increased 11.88 points to 11,212.50, the FBMT 100 Index was 12.13 points higher at 11,053.96 and the FBM Emas Shariah Index edged up 14.92 points to 11,736.97.

The FBM Ace went up 14.77 points to 4,457.34 and the FBM 70 jumped 21.98 points to 13,758.05.

Sector-wise, the Financial Services Index rose 6.14 points to 15,436.05 and the Plantation Index climbed 3.35 points to 6,763.62 while the Industrial Products and Services earned 0.15 of-a-point to 147.05.

On the broader market, gainers edged losers 129 to 110, with 172 counters unchanged, 1,526 untraded and 12 others suspended.

Turnover stood at 192.35 million units worth RM56.85 million. – Bernama