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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…


Wall Street slides as high bond yields fan cost worries

NEW YORK, April 25 — Wall Street dropped sharply yesterday as warnings by bellwether companies of higher costs reverberated as the benchmark US 10-year Treasury yield pierced the 3 per cent level for the first time in four years. Caterpillar, an…


US stocks rise on mostly solid earnings

NEW YORK, April 24 — Wall Street stocks rose early today as a batch of mostly solid corporate earnings offset anxiety over rising interest rates. About 10 minutes into trading, the Dow Jones Industrial Average stood at 24,505.22, up 0.2 per cent….


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


Wall Street edges higher as earnings optimism eases bond worries

NEW YORK, April 23 — Wall Street edged higher today, led by technology stocks, as optimism about strength of the earnings season helped ease concerns on rising US Treasury yields. The yield on 10-year US Treasuries hit a four-year high of 2.998…


Bursa closes lower as profit-taking continues

KUALA LUMPUR, April 23 — Bursa Malaysia ended lower for the second consecutive day today on continued profit-taking across-the-board, after the key index hit an all-time high last week, amid the weaker performance of regional bourses. Bursa…


Foreign funds bought RM582m M’sian equity last week, says MIDF Research

foreign-funds-bought-rm582m-msian-equity-last-week-says-midf-research

KUALA LUMPUR (April 23): Foreign investors acquired RM582 million of Malaysian equity on Bursa Malaysia last week, up from RM324.7 million the prior week, according…


Asia stocks subdued by rising yields, earnings deluge

SYDNEY, April 23 — Asian stocks started in muted fashion today as investors braced for a bevy of earnings from the world's largest corporations, while keeping a wary eye on US bond yields as they approached peaks that had triggered ructions in the…


Wall Street week ahead: Trade tensions set for brighter US corporate spotlight

NEW YORK, April 22 — The potential for an intensifying trade dispute to undercut the US stock market could become clearer next week when a host of multinational companies reports quarterly results that may provide a glimpse into the impact of…


US regulator permits China’s ZTE to submit more evidence

NEW YORK, April 21 — The US Commerce Department has granted ZTE Corp’s request to submit more evidence after the agency banned American companies from selling to the Chinese technology firm, a senior Commerce official said today. The US Commerce…