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Malaysian Reserve
3 days ago
- Business
- Malaysian Reserve
Bursa Malaysia opens marginally higher, turns lower soon after
BURSA MALAYSIA opened marginally higher but turned lower thereafter, tracking the weaker overnight Wall Street performance. At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.28 points to 1,510.36 from Tuesday's close of 1,511.64. The benchmark index opened 0.25 of-a-point higher at 1,511.89. The broader market was negative with 138 decliners outnumbering 106 gainers. Another 206 counters were unchanged, while 1,956 were untraded and 13 suspended. Turnover stood at 82.81 million shares worth RM37.30 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Wall Street declined amid fading optimism for a quick de-escalation of Israel-Iran tensions. The Dow Jones Industrial Average (DJIA) lost 0.7 per cent, the S&P 500 slipped 0.84 per cent, while the Nasdaq Composite dropped 0.91 per cent. In Asia, key indices ended mixed as investors were concerned about the geopolitical tension in the Middle East. In Hong Kong, the Hang Seng Index dipped 0.3 per cent due to profit-taking activities following Monday's rally. On the local front, the FBM KLCI finished lower on Tuesday as investors were reluctant to take long positions due to the heightened global uncertainties and market volatility. 'Additionally, foreign fund outflows further dampened investor sentiment. 'We foresee the benchmark index remaining range-bound between 1,500 and 1,520 today, reflecting increased market volatility,' Thong told Bernama. Among heavyweights, Maybank, Public Bank and IHH Healthcare added 1.0 sen each to RM9.56, RM4.23 and RM6.90, respectively. Tenaga dipped 4.0 sen to RM14.26, and CIMB slid 3.0 sen to RM6.63. Among the most active stocks, KHPT Holdings and Velesto Energy remained flat at 13.5 sen and 18.5 sen, respectively, Mpire Global eased 1.0 sen to 10 sen, Alam Maritim Resources shed half-a-sen to 3.0 sen and NexG dropped 1.5 sen to 34.5 sen. On the index board, the FBM Emas Index reduced 14.46 points to 11,288.82, and the FBMT 100 Index lost 16.96 points to 11,065.58 and the FBM Emas Shariah Index slipped 2.95 points to 11,315.42. The FBM 70 Index gave up 54.81 points to 16,168.19, but the FBM ACE Index increased 1.85 points to 4,444.82. By sector, the Plantation Index trimmed 3.91 points to 7,246.83, while the Energy Index rose by 6.81 points to 745.58. The Financial Services Index lost 42.65 points to 17,353.91, but the Industrial Products and Services Index increased 0.31 of-a-point to 150.46. — BERNAMA
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Bursa Malaysia opens marginally lower despite Wall Street's higher overnight performance
BURSA MALAYSIA opened marginally lower today on some mild selling activities, mainly among lower liners, despite Wall Street's higher overnight performance. At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.03 of-a-point to 1,519.96 from Monday's close of 1,519.99. The benchmark index opened 1.17 points lower at 1,518.82. However, market breadth was positive, with 142 gainers outpacing 97 decliners. Another 246 counters were unchanged, while 1,931 were untraded and 22 suspended. Turnover stood at 78.56 million shares worth RM43.88 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Wall Street closed higher as reports of Iran's efforts to end its conflict with Israel lifted market sentiment. The Dow Jones Industrial Average rose 0.8 per cent, while the S&P 500 gained nearly one per cent, and the Nasdaq Composite rose by 1.5 per cent. Over in Hong Kong, the Hang Seng Index closed higher on the back of stronger-than-expected economic data from China. Domestically, he said the FBM KLCI ended higher on Monday due to late buying interest in plantation and telecommunications stocks. 'Despite the easing of Middle East tensions, we remain cautious as peace negotiations have yet to yield a conclusive outcome. 'As such, we anticipate the benchmark index to fluctuate between the 1,515 and 1,525 levels today,' Thong told Bernama. Among heavyweights, Maybank added 2.0 sen to RM9.61, Tenaga dipped 6.0 sen to RM14.30, Public Bank and CIMB gained 1.0 sen each to RM4.24 and RM6.76 respectively, and IHH Healthcare decreased 1.0 sen to RM6.90. Among the most active stocks, Mpire Global and Jiankun remained flat at 11.5 sen and 3.0 sen, respectively. Nationgate Holdings rose 2.0 sen to RM1.47, Ekovest increased by half-a-sen to 36.5 sen, Bumi Armada slid 1.0 sen to 47.5 sen, while Ucrest improved by half-a-sen to 9.5 sen. On the index board, the FBM Emas Index climbed 6.33 points to 11,367.12, and the FBMT 100 Index edged up 5.85 points to 11,144.20. However, the FBM Emas Shariah Index eased 4.82 points to 11,368.84. The FBM 70 Index gained 32.65 points to 16,316.11, while the FBM ACE Index weakened 2.82 points to 4,468.99. By sector, the Plantation Index trimmed 17.74 points to 7,332.53, and the Energy Index fell by 8.96 points to 743.20. The Financial Services Index rose by 22.10 points to 17,523.10, and the Industrial Products and Services Index increased slightly by 0.05 of-a-point to 151.18. — BERNAMA
Business Times
28-04-2025
- Business
- Business Times
Bursa Malaysia's Q1 net profit falls 8.8% on lower trading revenue
[KUALA LUMPUR] Bursa Malaysia's net profit declined 8.8 per cent year on year to RM68.4 million (S$20.6 million) for the first quarter of 2025, the exchange operator said on Monday (Apr 28). Revenue fell 1.5 per cent to RM184.4 million from a year earlier, as lower trading revenue and higher expenses weighed on performance, Bursa Malaysia chief executive officer Fad'l Mohamed said in a statement. The average daily trading value on the securities market dropped nearly 12 per cent to RM2.8 billion, compared to RM3.2 billion in the first quarter of 2024. Fewer trading days – 58 versus 60 a year earlier – also contributed to the revenue decline, he said. Trading velocity slipped to 33 per cent from 39 per cent over the same period. 'The first quarter of 2025 proved to be a challenging period for global markets, weighed down by external factors affecting equity market performance,' Fad'l said. Bursa Malaysia chief executive officer Fad'l Mohamed notes that Malaysia's capital market remains resilient, supported by strong economic fundamentals and government policy direction. PHOTO: BURSA MALAYSIA Still, he stressed that Malaysia's capital market remains resilient, supported by strong economic fundamentals and government policy direction, including national roadmaps for key growth sectors. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Despite softer trading activity, Bursa Malaysia has recorded 16 initial public offerings (IPOs) so far this year, keeping it on track to meet its full-year target of 60 listings, Fad'l said. As at Mar 31, Bursa Malaysia's market capitalisation stood at RM1.9 trillion, down 1.9 per cent from a year earlier. Last year, Bursa hosted 55 listings that raised RM7.4 billion, making it the most active exchange by deal count in South-east Asia. This year, market sentiment has been hit by global uncertainties. Cuckoo International and SPB Development deferred their IPO plans, citing unstable conditions. Bloomberg also reported that advisers for South Korea's OCI Holdings have paused work on the IPO of its Malaysian polysilicon unit due to market volatility. On Monday, the benchmark FBM KLCI closed at 1,521.59 points, 0.8 per cent higher from the previous trading day, with 2.6 billion shares traded. Year-to-date, the index has fallen nearly 7 per cent from 1,632.87 points at the start of the year. Robust activities in derivatives market The derivatives market provided some support, with revenue up 13.7 per cent to RM28.9 million, driven by higher trading activity in crude palm oil futures and FTSE Bursa Malaysia KLCI Futures contracts. Revenue from the Islamic capital market rose 23 per cent year on year to RM5.5 million. Non-trading revenue, which includes listing and issuer services as well as depository services, grew 4.9 per cent to RM66.5 million. Bursa Malaysia's financial results note indicated that securities market activity remains sensitive to global and local factors – including US policy uncertainties, risks of escalating trade tensions, monetary policy shifts, geopolitical risks and corporate earnings performance. 'The derivatives market's activity was influenced by volatility in commodity prices, delays in Indonesia's biodiesel policy implementation, production levels in palm oil-producing nations, and movements in the broader equity markets,' said the exchange. For Islamic markets, Bursa Malaysia noted that it remains focused on improving investor accessibility through its Islamic investing platform, and aims to attract a broader range of investors amid growing demand for ethical and syariah-compliant investments.
