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Asia stocks capped, US dollar droops following Trump comments

TOKYO, Aug 21 — Asian stocks were capped and the US dollar dipped today after US President Donald Trump accused China and Europe of manipulating their currencies and said he was “not thrilled” with the Federal Reserve for hiking interest…


US-China trade talks optimism lifts shares, oil gains

NEW YORK, Aug 21 — A gauge of global equity markets rose yesterday on hopes US-China trade talks this week will diffuse the dispute, while Turkey's lira fell anew on cuts to the country's credit ratings and after shots were fired outside the US…


Dow, S&P higher on trade talk optimism, Nasdaq slips on tech weakness

NEW YORK, Aug 20 — The S&P 500 and Dow Industrials rose today on optimism around the upcoming Sino-US trade talks, but the Nasdaq fell as technology stocks retreated. The planned lower-level trade talks between the United States and China…


Wall St higher on US-China trade talk optimism

NEW YORK, Aug 20 — US stock index opened higher today as reports of planned trade talks between the United States and China raised hopes of a potential resolution to their trade spat. Lower-level trade talks will be held on August 22 and 23,…


Shares climb on hopes for US-China trade talks, Turkish lira falls

LONDON, Aug 20 — Global stocks rose today amid optimism over planned trade talks between the United States and China, while Turkey’s lira fell after its credit ratings were downgraded and shots were fired outside the US embassy in Ankara….


Chinese internet stock sell-off may shake faith in FANGs

An investor looks at an electronic board showing stock information at a brokerage house in Shenyang, Liaoning province August 16, 2013. Major brokerage Everbright Securities Co Ltd said in a filing to the Shanghai Stock Exchange that its trading system encountered problems Friday morning, following a dramatic 5 percent spike in domestic stock indexes that many suspected was the byproduct of a trading error. REUTERS/Stringer (CHINA - Tags: BUSINESS)

SAN FRANCISCO, Aug 20 — A steep downturn in heavyweight Chinese internet stocks and recent weakness in half of the so-called FANG group have some investors worried that a key component of Wall Street’s near-decade long rally may be low on fuel….


Bursa Malaysia likely to trade higher next week, retesting 1,800 level

KUALA LUMPUR: Bursa Malaysia is expected to trade firmer next week retesting its 1,800 level, spurred by improved sentiment in some domestic and external factors, dealers said.

Rakuten Trade Sdn Bhd, Head of Research Kenny Yee said Prime Minister Tun Dr Mahathir Mohamad's five-day visit to China on Friday was seen as positive as it aims to maintain good relations with China.

“Also, the 100-days of the new government just came by on Aug 17 (Friday) and so far the administration looks relatively good.

“Besides that, the gross domestic product (GDP) growth figure of 4.5% announced by Bank Negara Malaysia was also within our expectations,” he told Bernama.

Meanwhile, M&A Securities Sdn Bhd Chief Dealing Officer R Sundararajah said the FBM KLCI index is anticipated to trend higher on bargain hunting mainly in lower-liner stocks.

He said the index, which has fallen an average of 20 points during the week, is likely to appreciate as investors will be looking for attractive and cheap stocks to nibble.

“I believe investors will be taking advantage of stocks that they have sold in the week particularly in the second- and third-liners.

“The total net foreign selling in the past four trading days (until Thursday) of RM482 million will also likely reverse its trend, and the funds will start coming in again,” he told Bernama.

Sunderarajah said corporate earnings results will also be on the look-out, as they will influence the equity market particularly stocks in the FBM KLCI index, besides tracking the performance on Wall Street and regional peers.

Other geopolitical developments including trade talks between the US and China as well as the sanctions imposed by the US and Turkey on each other may move investors to the sidelines amid the uncertainty, he said.

For the week just ended, Bursa Malaysia was traded higher at between 1,780.26 and 1,785.03, on continued buying momentum in selected heavyweights and lower liners on Friday.

On a Friday-to-Friday basis, the benchmark FTSE Bursa Malaysia KLCI was 22.28 points lower at 1,783.47 from 1,805.75 previously.

The FBM Emas Index fell 150.92 points to 12,619.57 and the FBMT100 Index shrank 157.80 points to 12,389.04.

The FBM 70 was down 205.33 points at 15,388.45 and the FBM Emas Syariah Index was 167.84 points weaker at 12,781.04, but the FBM Ace gained 3.00 points to 5,552.40.

On a sectoral basis, the Finance Index contracted 187.39 points to 17,388.79, the Plantation Index declined 85.64 points to 7,627.19 and the Industrial Index was 36.45 points easier at 3,232.90.

Weekly turnover narrowed to 10.89 billion units worth RM10.67 billion from 11.93 billion units valued at RM11.07 billion previously.

Main market volume reduced to 7.19 billion shares valued at RM9.68 billion compared with 7.52 billion shares worth RM9.99 billion.

Warrants turnover rose to 2.88 billion units worth RM524.88 million against 2.10 billion units valued at RM509.46 million.

The ACE market volume slipped to 1.74 billion shares valued at RM464.16 million versus 2.29 billion shares worth RM573.79 million previously. — Bernama


Bursa likely to trade higher next week, retesting 1,800 level

KUALA LUMPUR, Aug 18 — Bursa Malaysia is expected to trade firmer next week retesting its 1,800 level, spurred by improved sentiment in some domestic and external factors, dealers said. Rakuten Trade Sdn Bhd, Head of Research Kenny Yee said Prime…


Trump ignites Wall Street debate with his tweet on earnings

WASHINGTON, Aug 18 — President Donald Trump brought a long-simmering debate on Wall Street to the surface yesterday when he prodded regulators to look into scaling back how often publicly traded companies report financial results. Trump’s…


Wall St rises on upbeat trade news

NEW YORK, Aug 18 — US stocks closed higher , with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in tariff disputes between the United States and its trading partners…