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KLCI tracks regional gains, poised to test 1,900-level

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KUALA LUMPUR (April 18): The FBM KLCI looked poised to test the next resistance level of 1,900 points when it rose this morning, tracking gains at regional markets. At 9.05am, the FBM KLCI rose 3.11 points to 1,883.60. The early gainers included Nestle(M) Bhd, Kuala Lumpur Kepong Bhd, PPB Group Bhd, Petron Malaysia Refining & Marketing Bhd, Hengyuan Refining Company Bhd, Genting Plantations Bhd, ViTrox Corp Bhd, Globetronics Technology Bhd, Lotte Chemical Titan Holding Bhd and Unisem (M) Bhd. Asian shares crept ahead on Wednesday after Wall Street took heartRead More


What to look for as Q1 earnings hit around the globe

NEW YORK, April 18 — Trade, taxes and China are the main themes to watch for heading into first-quarter earnings, along with a spate of potential deals. From Ford Motor Co to Anheuser-Busch InBev SA, executives whose companies are affected by…


KLCI edges higher in line with firmer regional markets

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KUALA LUMPUR (April 11): The FBM KLCI edged higher this morning, in line with firmer regional markets, lifted by gains at key index-linked blue chips. At 9.05am, the FBM KLCI rose 3.61 points to 1,864.59. The gainers included KESM Industries Bhd, Nestle (M) Bhd, Malaysian Pacific Industries Bhd, Petronas Gas Bhd, Petron Malaysia Refining & Marketing Bhd, British American Tobacco (M) Bhd, Top Glove Corp Bhd, Globetronics Technology Bhd, Telekom Malaysia Bhd and Bursa Malaysia Bhd. Asian stocks were firm on Wednesday as investors lapped up the positive mood inRead More


KLCI gains 0.16% as China softens stance in trade conflict

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KUALA LUMPUR (April 10): The FBM KLCI rose 0.16% at midday break today, in line with the bounce at most regional markets as China’s president softened the economic giant’s stance on the ongoing trade conflict with the U.S. At 12.30pm, the FBM KLCI gained 2.97 points to 1,852.68. The index had earlier slipped to its intra-morning low of 1,846.78. Gainers led losers by 494 to 151, while 527 counters traded unchanged. Volume was 1.77 billion shares, valued at RM991.21 million. The top gainers included KESM Industries Bhd, Press Metal AluminiumRead More


China property tycoons bet that gambling will come to Hainan

SHANGHAI, April 9 — In China’s southernmost province of Hainan, inside a glittering skyscraper shaped like a sail, Zeng Xianyun has been waiting for Xi Jinping, in more ways than one. This week, the Chinese president will visit the island…


KLCI rises 0.58%, crosses 1,840-level as Petronas stocks lift

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KUALA LUMPUR (April 9): The FBM KLCI rose 0.58% at midday break and tested the 1,850-point level in the morning session today, lifted by gains including at index-linked Petronas counters. At 12.30pm, the FBM KLCI rose 10.69 points to 1847.70. The index had earlier risen to its intra-morning high of 1,850.01. Gainers led losers by 410 to 179, while 543 counters traded unchanged. Volume was 1.17 billion shares, valued at RM796.74 million. The top gainers included Petronas Dagangan Bhd, Hengyuan Refining Company Bhd, Dutch Lady Milk Industries Bhd, Petron MalaysiaRead More


KLCI slips 0.19%, tracks regional peersKUALA LUMPUR (April 3): The FBM KLCI dipped 0.19% at the midday break today, as market breadth remained negative in line with the slip at most regional markets. At 12.30pm, the FBM KLCI fell 3.53 points to 1,854.82. Losers led gainers by 452 to 122, while 527 counters traded unchanged. Volume was 896.27 million shares valued at RM688.58 million.

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KUALA LUMPUR (April 3): The FBM KLCI dipped 0.19% at the midday break today, as market breadth remained negative in line with the slip at most regional markets. At 12.30pm, the FBM KLCI fell 3.53 points to 1,854.82. Losers led gainers by 452 to 122, while 527 counters traded unchanged. Volume was 896.27 million shares valued at RM688.58 million. The top losers included Nestle (M) Bhd, KESM Industries Bhd, Dutch Lady Milk Industries Bhd, Petron Malaysia Refining & Marketing Bhd, Hengyuan Refining Co Bhd, Malaysian Pacific Industries Bhd, British AmericanRead More


Poor April start for KLCI continues as Asian markets fall

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KUALA LUMPUR (April 3): The FBM KLCI continued its poor April start this morning, tracking losses at most regional markets, following the overnight selloff at Wall Street. At 9.05am, the FBM KLCI fell 2.53 points to 1,855.82. The losers included Nestle (M) Bhd, Hengyuan Refining Company Bhd, Hong Leong Bank Bhd, Ta Ann Holdings Bhd, Globetronics Technology Bhd, Carlsberg Brewery Malaysia Bhd and Icapital.Biz Bhd. Asian stocks extended a global selloff and the yen rose on Tuesday as investors fled for safety as an escalating trade spat between the UnitedRead More


KLCI edges higher, poised to end 1Q2018 on positive note

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KUALA LUMPUR (March 30): The FBM KLCI looked poised to end the first quarter of 2018 on a positive note as it edged higher in early trade today. At 9.05am, the FBM KLCI rose 2.21 points to 1,858.56. The gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Lotte Chemical Titan Holding Bhd, Yinson Holding Bhd, G3 Global Bhd, Kuala Lumpur Kepong Bhd, Hong Leong Bank Bhd and Petronas Gas Bhd. JF Apex Securities Research in a market preview said US markets rallied overnight following sharp rebounds in technologyRead More


Bursa Malaysia opens lower on weak US markets

KUALA LUMPUR: Bursa Malaysia opened lower today, dragged down by the weak overnight performance of US markets, dealers said.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 6.75 points lower at 1,855.70 from Tuesday's close of 1,862.45.

The key index opened 3.92 points weaker at 1,858.53.

Market breadth was negative with 190 losers against 62 gainers, with 156 counters unchanged, 1,503 untraded and 65 others suspended.

Volume rose to 88.36 million units valued at RM29.29 million.

Public Investment Bank Bhd said US stocks closed sharply lower as a decline in the broader technology (tech) sector brought the major averages down.

The Nasdaq composite fell 2.9% as shares of Apple and Amazon declined. The S&P 500 pulled back 1.7% with tech sliding 3.5% and posting its worst day since Feb 8.

The Dow Jones Industrial Average closed 344.89 points lower and re-entered correction territory, with Microsoft as the worst-performing stock in the index.

Meanwhile, Kenanga Investment Bank Bhd said the technical outlook for Bursa Malaysia remained weak with indicators not showing strong signs of a potential bullish breakout.

“Expect the FBM KLCI to remain volatile over the short-term as global markets continue to observe the development of trade discussions.

“Investors should remain cautious amid the volatile market and wait for a decisive breakout from 1,880, which will then likely see it head towards 1,910. Conversely, any downside bias will see the index at 1,840 and 1,800,” it said in a note today.

Among heavyweights, Maybank and Public Bank each fell four sen to RM10.48 and RM23.94, respectively, Tenaga and Petronas Chemicals were flat each at RM15.72 and RM8.28 respectively, and Tenaga eased three sen to RM7.09.

Of the active counters, Sapura Energy and Vivocom were each flat at 54.5 sen and 2.5 sen respectively, while Globaltech slid half-a-sen to 4.5 sen.

Among top losers, Nestle declined 70 sen to RM149.00, Hengyuan eased 13 sen to RM7.78 and Carlsberg was down 12 sen to RM18.80.

The FBM Emas Index fell 42.72 points to 13,007.40, the FBMT 100 Index declined 41.48 points to 12,795.14 and the FBM 70 slipped 33.07 points to 15,534.55.

The FBM Emas Syariah Index declined 29.94 points to 13,183.55 and the FBM Ace gained 10.36 points to 6,344.69.

Sector-wise, the Finance Index was 70.18 points lower at 18,111.27 and the Plantation Index slid 33.46 points to 8,005.93 and the Industrial Index dropped 7.80 points to 3,220.14.

The physical price of gold as at 9.30am stood at RM161.54 per gramme, down RM1.35 from RM162.89 at 5.00pm yesterday. — Bernama