reit

 
 

US Treasuries’ march above 3pc faces challenge from slumping stocks

NEW YORK, April 25 — The 10-year Treasury yield finally reached 3 per cent, a milestone that bond traders were eyeing for months to guide their next moves. Then that pesky stock market got in the way. After all the hoopla surrounding 10-year…


Bursa Malaysia closes at intra-day low

KUALA LUMPUR: Bursa Malaysia ended at an intra-day low today on selling pressure across-the-board in tandem with most Southeast Asian bourses, taking the cue from the weaker overnight performance on Wall Street, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended at 1,865.34, down 15.02 points from Monday's close of 1,880.36.

It opened 3.39 points higher at 1,883.75 and moved between 1,865.34 and 1,885.32 throughout the day.

Market breadth was negative with losers outpacing gainers by 573 to 291 while 387 counters remained unchanged, 663 untraded and 28 others suspended.

Volume fell to 1.93 billion units worth RM2.32 billion from 1.94 billion units worth RM1.66 billion yesterday.

A dealer said Bursa Malaysia extended profit-taking consolidation today due to an overbought technical momentum after hitting an all-time high of 1,895.18, up 15.86 points, on Thursday last week.

“Concerns over the rising yields in US government bonds and the downturn among technology companies sapped optimism in most Southeast Asian equities markets which prompted a sell-off,” he said

Bursa Malaysia opened higher but succumbed to profit-taking after 15 minutes of trading with selling in blue-chips led by Press Metal Aluminium and telecommunication stocks.

Regionally, Japan's Nikkei gained 0.86% to 22,278.12, Hong Kong's Hang Seng rose 1.26% to 30,636.24, South Korea's Kospi declined 0.40% to 2,464.14, the Singapore's Straits Times Index was 0.08% better at 3,582.54 and Indonesia's Jakarta Composite index slipped 1.19% to 6,232.88.

Among heavyweights, Public Bank and CIMB shed two sen each to RM24.10 and RM7.22 respectively, Petronas Chemicals bagged three sen to RM8.49 while Maybank and Tenaga were flat at RM10.62 and RM15.88 respectively.

For actives, Sapura Energy and PUC eased 1.5 sen each to 70.5 sen and 22 sen, Hibiscus shed 3.5 sen to 82.5 sen and Nexgram eased half-a-sen to 39.5 sen.

The FBM Emas Index fell 105.25 points to 12,974.41, FBM Emas Shariah Index dropped 114.34 points to 13,131.70, FBMT 100 Index eased 106.52 points to 12,790.59 and the FBM 70 dipped 139.57 points to 15,286.24.

The FBM Ace bagged 23.83 points to 5,322.46.

Sector-wise, the Finance Index declined 104.94 points to 18,305.04, Industrial Index slipped 41.44 points to 3,211.79 and the Plantation Index shed 11.64 points to 7,991.96.

Main Market volume fell to 1.18 billion shares worth RM2.19 billion from 1.21 billion shares worth RM1.51 billion on Monday.

Warrants volume widened to 458.49 million units valued at RM78.38 million from 430.75 million units valued at RM96.66 million yesterday.

Volume on the ACE Market shrank to 284.65 million shares worth RM51.80 million from 299.25 million shares worth RM50.37 million on Monday.

Consumer products accounted for 33.13 million shares traded on the Main Market, industrial products (306.97 million), construction (66.09 million), trade and services (555.33 million), technology (72.09 million), infrastructure (14.69 million), SPAC (6.68 million), finance (46.20 million), hotels (3.46 million), properties (47.87 million), plantations (17.10 million), mining (8,000), REITs (11.19 million) and closed/fund (nil). — Bernama


China stocks post best gains in 2 months as Beijing vows to hit economic targets

china-stocks-post-best-gains-in-2-months-as-beijing-vows-to-hit-economic-targets

SHANGHAI (April 24): China stocks posted their strongest gains in two months on Tuesday as the Communist Party declared its determination to achieve this year’s…


High-profile investors bet on stocks tied to millennials, Sohn Conference shows

NEW YORK April 24 — Hedge fund managers at the high-profile 2018 Sohn Investment Conference in New York pitched stock ideas yesterday that they said should benefit from the growing clout of the millennial generation, ranging from online food…


MIDF positive on Axis REIT’s RM87m Shah Alam land buy bid

KUALA LUMPUR, April 24 ― Axis Real Investment Trust (REIT) proposed acquisition of a warehouse and manufacturing facility in Shah Alam for RM87 million should boost the firm’s yields, said MIDF Research. MIDF Research projected the acquisition…


Axis REIT shares fall slightly after land buy

PETALING JAYA: Axis Real Estate Investment Trust's (Axis REIT) share price fell slightly by 0.71% this morning, after announcing that it is buying two parcels of land in Shah Alam for RM87 million.

At 11.08am, the stock was down one sen to RM1.39 with some 22,100 shares changing hands.

Yesterday, the REIT told the stock exchange that the acquisition will raise its asset under management to RM2.64 billion.


CIMB upgrades IGB REIT to Add; price target RM1.73

cimb-upgrades-igb-reit-to-add-price-target-rm1-73

(April 24): CIMB analyst Liyana Fuad upgraded the recommendation on IGB Real Estate Investment Trust to add from hold. * Price target (PT) set to RM1.73,…


KIP REIT looking to diversify into logistics assets

MoU-KIP-REIT_20180424085053_theedgemarkets

KUALA LUMPUR: KIP Real Estate Investment Trust (REIT) is looking to diversify upstream into logistics or warehouse assets, said KIP REIT Management Sdn Bhd managing director Datuk Chew Lak Seong. However, he stressed that nothing is firm yet. Chew explained that the REIT will be exploring options to increase its revenue stream from other sectors, as well as to diversify risks. “We intend to be still relevant to our business sector — the retail sector — as we understand our sector best and will be more comfortable. We are stillRead More


Stocks in Focus (24-04-2018)

KUALA LUMPUR (April 23): Based on corporate announcements and news flow today, companies in focus tomorrow (April 24) may include the following: GuocoLand (Malaysia) Bhd,…


Xi Jinping has to back up his words with actions to avoid a trade war, Canada’s ambassador to China says

canada-china-xi-reuters

(April 23): China’s President Xi Jinping has to back up his words with actions if he wants to avoid a trade war, Canada’s ambassador to China told CNBC. “Xi Jinping has used very strong language in favor of globalization, in favor of freer trade. But it would be good if he could match those statements with actions,” ambassador John McCallum said, referring to Xi’s speeches at Davos last year and at the Boao forum this year. “Their actions have not always matched their words. So the more they could act,Read More