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Bursa Malaysia closes higher but trading still cautious

KUALA LUMPUR: Bursa Malaysia closed higher on Tuesday, buoyed by buying in selected heavyweights and blue chips, mainly telco, plantation and transportation and logistics counters.

However, overall the market is still cautious and investors are quietly monitoring the two-day US Federal Reserve policy meeting which begins today.

“Investors are now betting the US Fed will move to cut rates as early as July, due to the slowdown in the US economy resulting from trade-related uncertainties,“ a dealer said.

He said this is the best time for investors to go for defensive stocks and value stocks.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 14.36 points to 1,652.76 compared with Monday’s close of 1,638.18.

The barometer index, which opened 1.74 points weaker at 1,636.66 this morning, moved between 1,636.18 and 1,652.76 throughout the day.

Losers trumped gainers by 428 to 357, while 386 counters were unchanged, 697 untraded and 21 others suspended.

Turnover increased to 2.03 billion units worth RM1.72 billion from 1.62 billion units valued at RM1.43 billion recorded on Monday.

Axiata, which has a merger plan with Norway’s Telenor Group, saw its shares jump 24 sen to RM4.95, Sime Darby Plantation gained 18 sen to RM4.82, MISC increased 23 sen to RM7.20 and Digi was 14 sen higher at RM4.95.

To recap, Axiata announced last month that it was in talks with Telenor Group to merge their operations in Asia, including a plan to combine their respective subsidiaries, Celcom Axiata Bhd and Digi Com Bhd, into Malaysia’s largest mobile operator.

The local bourse opened Tuesday’s trading flat and it then turned mixed with investors adopting a wait-and-see attitude ahead of the meeting.

Besides the Fed, global exchanges would also be jittery ahead of two other policy meetings — by the Bank of England, and Bank of Japan.

Among heavyweights, Maybank fell three sen to RM8.96, Public Bank went up by two sen to RM23.04 and Tenaga was 26 sen higher at RM13.

Steel pole manufacturer Mestron Holdings Bhd, which today made its debut on Bursa Malaysia’s Ace Market with a premium of four sen today, added half-a-sen at closing to 16.5 sen.

Meanwhile, T7 improved one sen to 42.5 sen. The 51%-owned subsidiary of T7 Global Bhd is targeting to bid for contracts valued at up to RM200 million this year.

The FBM Emas Index rose 77.78 points to 11,616.46, the FBMT 100 Index increased 81.17 points to 11,471.45 and the FBM Emas Syariah Index soared 126.37 points to 11,898.91.

The FBM Ace went up 3.78 points to 4,353.52 and the FBM 70 added 26.09 points to 14,295.40.

Sector-wise, the Financial Services Index was 29.11 points lower at 16,683.62 and the Plantation Index improved 81.90 points to 6,942.01, while the Industrial Products and Services Index edged up 0.56 point to 159.97.

Main Market volume appreciated 946.01 million shares valued at RM1.41 billion from 820.87 million shares worth RM1.21 billion.

Warrants turnover fell to 472.21 million units valued at RM119.00 million from 513.93 million units worth RM120.60 million.

Volume on the ACE Market advanced to 609.66 million shares valued at RM181.86 million versus 283.78 million shares worth RM100.03 million.

Consumer products and services accounted for 161.74 million shares traded on the Main Market, industrial products and services (205.78 million), construction (112.72 million), technology (83.82 million), SPAC (nil), financial services (31.97 million), property (84.52 million), plantation (16.36 million), REITs (7.67 million), closed/fund (16,900), energy (131.25 million), healthcare (37.44 million), telecommunications and media (38.51 million), transportation and logistics (22.77 million), and utilities (11.46 million).

The physical price of gold as at 5pm stood at RM174.85 per gramme, up RM1.67 from RM173.18 at 5pm yesterday. — Bernama


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Bursa Malaysia flat at opening

KUALA LUMPUR, June 18 — Bursa Malaysia opened flat early today amid cautious mood ahead of US Federal Reserve’s two-day policy meeting. At 9.02am, the key FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 1.87 points to 1,636.53 from 1,638.40 at 5pm…


Bursa extends losses, opens lower

KUALA LUMPUR, June 13 — Bursa Malaysia extended yesterday’s losses to opened lower today, taking the cue from the overnight slip on Wall Street, amid a backdrop of continuing US-Sino trade spat, dealers said. At 9.05am, the key FTSE Bursa…


Bursa Malaysia extends losses, opens lower

KUALA LUMPUR: Bursa Malaysia extended yesterday’s losses to opened lower today, taking the cue from the overnight slip on Wall Street, amid a backdrop of continuing US-Sino trade spat, dealers said.

At 9.05 am, the key FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.70 points to1,643.04 from 1,650.74 at 5pm on Wednesday.

The barometer index opened 6.66 points lower at 1,644.08.

Market breadth was negative as losers led gainers 111 to 80, with 142 counters unchanged, 1,555 untraded and 30 suspended.

Turnover stood at 79.91 million worth RM48.29 million.

Malacca Securities Sdn Bhd said prolong uncertainties over the US-China trade dispute has led to cautious sentiments in the Malaysian stocks, which might linger into the upcoming G20 summit in Tokyo later this month with President Donald Trump expected to ramp up his tariff rhetoric.

Locally, there were few leads following the completion of the recent corporate earnings reporting season that saw the continuing mixed performance.

“In our view, the market’s gain over the past month largely reflected the improved earnings outlook and this is leaving little room for significant near term upsides.

“Therefore, we think the indifferent trend may persist in view of the lack of new leads and this could see the FBM KLCI linger within a narrow range between the 1,645 and 1,660 levels for now,“ it said.

With the mixed performance by the lower liners and broader market after their respective recovery in the past few sessions, the trend could prevail, for now, it added.

Among heavyweights, Maybank slipped two sen to RM8.98, Tenaga fell 14 sen to RM12.40, Petronas Chemicals slid five sen to RM8.28, CIMB eased one sen to RM5.29 while Public Bank was flat at RM23.48.

Of the actively-traded stocks, debutant on ACE market Greatech gained five sen to 66 sen, Scomi added one sen to 10.5 sen, DWL Resources eased half-a-sen to 62.5 sen while Sapura Energy and Daya Material were flat at 30 sen and one sen respectively.

The FBM Emas Index fell 40.49 points to 11,590.42, the FBMT 100 Index decreased 42.15 points to 11,439.01 and the FBM Emas Shariah Index declined 56.31 points to 11,788.76.

The FBM Ace reduced 17.59 points to 4,431.36 and the FBM 70 shed 6.89 points to 14,397.11.

Sector-wise, the Financial Services Index was 16 points lower at 16,820.21 and the Industrial Products & Services Index eased 0.31 of-a-point to 159.94 and the Plantation Index slipped 26.11 points to 6,842.24. — Bernama


Bursa consolidates, opens lowers

KUALA LUMPUR, June 12 — Bursa Malaysia opened lower in consolidation mode, taking the cue from weaker performance on Wall Street, which snapped its longest winning streak in two months. Investors are weighing the outlook on US-Sino trade talks and…


Bursa Malaysia consolidates, opens lower

KUALA LUMPUR: Bursa Malaysia opened lower in consolidation mode, taking the cue from weaker performance on Wall Street, which snapped its longest winning streak in two months.

Investors are weighing the outlook on US-Sino trade talks and the US Federal Reserve’s interest rate policy after President Donald Trump said on Tuesday he was holding up a trade deal with China unless Beijing agrees to four or five “major points” which he did not specify.

At 9.07am, the key FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.35 points at 1,643.85 from 1,651.20 at 5pm on Tuesday.

The barometer index opened 4.53 points lower at 1,646.67.

Market breadth was negative as losers led gainers 128 to 81, with 185 counters unchanged, 1,494 untraded and 31 suspended.

Turnover stood at 98.37 million worth RM55.47 million.

Malacca Securities Sdn Bhd said following a retreat in the FBM KLCI yesterday the market started to taper off amid toppish technical indicators after gains over the past few weeks.

“The new trend appears that there could be further near term weakness that could prompt more profit taking activities over the near term.

“There remains little room for further upsides, not only due to the toppish conditions but also the already fair valuations following the recent upsides of more than 4.0%,“ it said.

While some of the recent gains were due to better-than-expected quarterly earnings, the improved earnings outlook is still largely meek due to the insipid global and domestic economic environment, it said.

With the toppish conditions, the market could still see further near term consolidation with the 1,650 level serving as the immediate support, followed by the 1,644 level. The resistances are at 1,660 and 1,673 respectively, said Malacca Securities.

However, the lower liners and broader market shares may still continue their upside as more retail players return to the market that could provide the near term buying impetus, it added.

Among heavyweights, Maybank and Public Bank shed two sen each to RM8.97 and RM23.46 respectively, Tenaga fell 14 sen to RM12.34, Petronas Chemicals slipped eight sen to RM8.29 and CIMB slid three sen to RM5.29.

Of the actively-traded stocks, HPMT Holdings eased one sen to 55 sen, Ikhmas Jaya added one sen to 22 sen, Bahfest and APFT edged up half-a-sen to 69.5 sen and two sen respectively while SMTRACK was flat at 18 sen.

The FBM Emas Index fell 41.99 points to 11,587.40, the FBMT 100 Index decreased 40.89 points to 11,437.98, the FBM Emas Shariah Index declined 56.74 points to 11,783.69 and the FBM 70 shed 9.88 points to 14,368.95.

The FBM Ace bagged 22.49 points to 4,426.69.

Sector-wise, the Financial Services Index was 42.55 points lower at 16,821.32 and the Industrial Products & Services Index eased 0.45 of-a-point to 160.16 and the Plantation Index slipped 11.80 points to 6,876.65. – Bernama


Bursa Malaysia continues uptrend at opening

KUALA LUMPUR: Bursa Malaysia continued its uptrend to open higher this morning, supported by positive sentiment surrounding the market.

At 9.06am, the key FTSE Bursa Malaysia KLCI (FBM KLCI) nudged 1.22 points at 1,656.69 from 1,655.47 at 5pm on Monday.

The barometer index opened 0.33 of a point better at 1,655.80.

Market breadth was positive as gainers led losers 125 to 52, with 191 counters unchanged, 1,519 untraded and 25 suspended.

Turnover stood at 107.57 million worth RM49.52 million.

Malacca Securities Sdn Bhd said there is some measure of stability in the market, helped by the easing of trade disputes and potential US government monetary policy supports.

“With the near term market sentiment on a calmer note, we see further near term upsides on the lower liners and broader market shares on rotational and trading activities,“ it said.

However, it noted that the overall outlook is still murky as the unresolved US-China tariff war remains the biggest impediment that will continue to leave sentiments on the wary side.

It said Bursa Malaysia remained overbought and this is likely to temper the upside potential over the near term.

“Therefore, we think that the upsides will remain mild as the buying will become more selective after the recent strong gains that have seen the key index gaining nearly five per cent from its low of 1,580 points a month ago.

“The FBM KLCI could now test the 1,657-1,660 levels, before making a pass at the 1,673 level. The supports, on the other hand, are at 1,650 and 1,644 points respectively,“ it said in a note.

Meanwhile, the lower liners and broader market shares could continue to make headway as market participation returns that are also seeing renewed buying on selected stocks, it added.

Among heavyweights, Tenaga increased six sen each to RM12.82, CIMB gained three sen to RM5.31, Maybank shed two sen to RM9.02, while Public Bank and Petronas Chemicals were flat at RM23.50 and RM8.38 respectively.

Of the actively-traded stocks, IRIS Corporation and Scomi edged up half-a-sen to 16 sen and 6.5 sen respectively, Ekovest perked one sen to 86 sen and Iskandar Waterfront City added three sen to 97 sen.

The FBM Emas Index gained 6.69 points to 11,649.05, the FBMT 100 Index increased 7.02 points to 11,504.14 and the FBM Emas Shariah Index improved rose 8.95 points to 11,861.17.

The FBM 70 added 3.10 points to 14,358.20 and the FBM Ace bagged 8.82 points to 4,389.72.

Sector-wise, the Financial Services Index was 8.50 points higher at 16,914.71 and the Industrial Products & Services Index added 0.01 of-a-point to 160.75 and the Plantation Index gained 18.16 points to 6,900.17. – Bernama


Bursa Malaysia ends higher on positive external developments

KUALA LUMPUR: Bursa Malaysia closed higher across the board today, in line with Asian peers lifted by positive external developments surrounding the market, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished 6.14 points firmer at 1,655.47 from 1,644.09 at 5pm on Friday.

The barometer index, which opened 2.60 points better at 1,651.93 this morning, moved between 1,651.85 and 1,656 throughout the session.

Market breadth was bullish with gainers thumping losers 613 to 276, while 350 counters were unchanged, 651 untraded and 28 others suspended.

Turnover increased to 2.28 billion units worth RM1.79 billion from 1.55 billion units valued at RM1.52 billion recorded at 5pm Friday.

A dealer said Bursa Malaysia remained in positive territory throughout the trading session taking the cue from US stocks which ended sharply higher last Friday, following signs of a reprieve in global trade tensions and the likelihood of lower US interest rates.

He said the weaker-than-expected US May jobs report released on Friday added to expectations that the Federal Reserve would carry out rate cuts as soon as July.

Asian shares also advanced today as the US dropped its tariffs threat on Mexico in a deal to combat illegal migration from Central America, as well as sentiment brought by China’s better-than-expected trade data for May.

Regionally, the Singapore Straits Times Index bagged 0.66% to 3,187.23, Japan’s Nikkei was 1.2% higher at 21,134.42, Hong Kong’s Hang Seng rose 2.27% to 27,578.64, South Korea’s Kospi gained 1.31% to 2,099.49 and Shanghai’s SSE increased 0.98% to 2,855.56.

Among heavyweights, Maybank added five sen to RM9.04, Public Bank rose eight sen to RM23.50, Tenaga and Petronas Chemicals eased two sen each to RM12.76 and RM8.38 respectively, while CIMB was flat at RM5.28.

Of the actively-traded stocks, Ekovest rose six sen to 85 sen, Bumi Armada added half-a-sen to 21 sen, Iskandar Waterfront perked 10.5 sen to 94 sen, while AirAsia X was flat at 24 sen.

The FBM Emas Index was 61.71 points higher at 11,642.36, the FBMT 100 Index increased 56.70 points to 11,497.12, the FBM Emas Syariah Index bagged 61.78 points to 11,852.22, the FBM 70 jumped 127.78 points to 14,355.10 and the FBM Ace rose 116.76 points to 4,380.90.

Sector-wise, the Financial Services Index was 77.35 points higher at 16,906.21 and the Plantation Index improved 8.54 points to 6,882.01, while the Industrial Products & Services Index was 0.20 point better at 160.74.

Main Market volume increased to 1.52 billion shares valued at RM1.64 billion from 1.21 billion shares worth RM1.48 billion during the half-day trading on Friday.

Warrants turnover rose to 493.48 million units valued at RM102.69 million from 154.56 million units worth RM18.57 million.

Volume on the ACE Market improved to 267.10 million shares valued at RM51.27 million from 178.52 million shares worth RM24.96 million.

Consumer products and services accounted for 250.35 million shares traded on the Main Market, industrial products and services (166.34 million), construction (311 million), technology (129.65 million), SPAC (nil), financial services (35.39 million), property (153.87 million), plantation (29.71 million), REITs (10.93 million), closed/fund (36,000), energy (326.97 million), healthcare (24.64 million), telecommunications and media (33.11 million), transportation and logistics (31.72 billion), and utilities (16.14 million).

The physical price of gold as at 5pm stood at RM171.86 per gramme, down 90 sen from RM172.76 at 5pm last Friday. — Bernama