Latest news with #CIMB
The Star
a day ago
- Business
- The Star
FBM KLCI perks up in late-morning trade as regional sentiment improves
KUALA LUMPUR: A late-morning rally in Bursa Malaysia's blue chips leading up to the lunch break took the FBM KLCI into positive territory on Friday. The benchmark index, which had been range-bound for much of the early session, jumped 3.35 points to 1,504.79 in a surge of buying interest marked by gains in financial heavyweights. Broader market sentiment, however, remained subdued as the number of declining issues outweighed advancing by a ratio 1.87-to-1. There was also subdued trading on the market with 1.15 billion shares changing hands for a low value of RM663.67mil as investors awaited the outcome of trade negotiations of Malaysian policymakers in Washington. In banking counters, CIMB rose 11 sen to RM6.69 and Maybank gained seven sen to RM9.67. Hong Leong Bank climbed 16 sen to RM19.56, followwed by eight sen for RHB to RM6.32 and three sen for Public Bank to RM4.22. Nestle reversed its earlier losses to put on RM16 sen to RM71.72 while Kuala Lumpur Kepong gained 24 sen to RM19.96. Of actives, PUC rose 0.5 sen to 2.5 sen, Astro dropped 1.5 sen to 16 sen and Pavilion REIT shed two sen to RM1.52. In regional markets, there was some rebound in equities prices after US President Donald Trump said he would wait two weeks before deciding on a potential attack on Iran. Hong Kong's Hang Seng snapped three days of losses to rise 1.15% to 23,504. China's blue-chip CSI300 added 0.24% to 3,852 while the country's composite index was little changed at 3,364. Japan's Nikkei slid 0.12% to 38,443.
Malay Mail
a day ago
- Business
- Malay Mail
Bursa slips at open on lack of catalysts, Middle East fears
KUALA LUMPUR, June 20 — Bursa Malaysia opened marginally lower in the absence of new catalyst, coupled with the closure of Wall Street on June 19, an analyst said. At 9.06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 0.79 of-a-point to 1,500.65 from Thursday's close of 1,501.44. The benchmark index opened 0.50 of-a-point lower at 1,500.94. The broader market was negative, with 118 decliners outnumbering 68 gainers, 192 counters unchanged, while 2,046 were untraded and 25 suspended. Turnover stood at 56.66 million shares worth RM24.34 million. Rakuten Trade Sdn Bhd's equity research vice-president Thong Pak Leng said Wall Street was closed for a holiday yesterday as traders were pondering over the involvement of the United States (US) in the Middle East conflict. The US 10-year Treasury yield eased to 4.39 per cent. In Hong Kong, the Hang Seng Index (HSI) declined sharply on inflationary concerns induced by prevailing higher tariffs coupled with the conflict in the Middle East. This also disrupts global crude oil supply and could be inflationary as well. Back home, the FBM KLCI on Thursday closed just above the 1,500 level, likely due to continued foreign selling. 'Nonetheless, we would advocate investors to accumulate blue chips if and when the index dips below the 1,500 mark at around the 1,480 threshold,' Thong told Bernama. Among heavyweights, Maybank gained 2.0 sen to RM9.62, Tenaga Nasional fell 4.0 sen to RM14.18, CIMB was 1.0 sen higher at RM6.59, while Public Bank, IHH Healthsare and CelcomDigi remained unchanged at RM4.19, RM6.85 and RM3.82 respectively. Among the most active stocks, Velesto Energy was flat at 18.5 sen, Magma eased half-a-sen to 46 sen, Pavilion REIT was down 6.0 sen to RM1.48, Aizo dipped half-a-sen to 8.0 sen and Dataprep added half-a-sen to 12 sen. On the index board, the FBM Emas Index lost 7.90 points to 11,215.84, the FBMT 100 Index shed 7.68 points to 10,996.32, and the FBM Emas Shariah Index declined 15.09 points to 11,217.80. The FBM 70 Index lost 18.82 points to 16,074.63 and the FBM ACE Index dropped 24.59 points to 4,390.46. By sector, the Plantation Index narrowed 4.34 points to 7,214.27, while the Energy Index declined by 0.71 of-a-point to 738.94. The Financial Services Index rose 19.36 points to 17,349.51, but the Industrial Products and Services Index slid 0.20 of-a-point to 148.04. — Bernama
Wall Street Journal
2 days ago
- Business
- Wall Street Journal
Baht Weakens Amid Turmoil in Thailand's Ruling Coalition
0220 GMT — The baht weakens in morning Asian session amid turmoil in Thailand's ruling coalition government. Thai Prime Minister Paetongtarn Shinawatra faces political fallout after a leaked phone call between her and Cambodia's former leader Hun Sen related to the border dispute between the two countries, CIMB research analysts say in commentary. The knock-on effect has been that Bhumjaithai, the second-largest party in the coalition, is withdrawing from the government. This leaves the government with a slim majority and there are worries over political stability, the CIMB analysts add. USD/THB rises 0.4% to 32.79. ( 0045 GMT — Asian currencies consolidate against the dollar as traders assess the Fed's hawkish tone and ongoing Middle East tensions. The FOMC's statement and Fed Chair Powell's remarks overnight indicate deepening worry over inflation despite signs of economic slowdown. Meanwhile, the Israel-Iran conflict has continued, with Israel's military saying it struck more than 20 military targets in and around Tehran. USD/KRW is little changed at 1,376.34; AUD/USD edges 0.1% lower to 0.6502; USD/SGD is steady at 1.2856. (
Yahoo
4 days ago
- Business
- Yahoo
Malaysia ranks third in Fortune Southeast Asia 500 with 92 firms, NationGate tops region with whopping 723pc revenue growth
Malaysia ranked third in the 2025 Fortune Southeast Asia 500 list with 92 companies, generating US$201.6 billion in combined revenue. NationGate Holdings led regional revenue growth with a 723 per cent increase, joined by four other Malaysian firms among the top 20 fastest-growing companies. Maybank remains Malaysia's top earner and one of the region's most profitable firms, alongside CIMB and Public Bank. KUALA LUMPUR, June 17 – Fortune today revealed its 2025 Southeast Asia 500 rankings, with 92 Malaysian companies making the cut, placing the country third overall behind Indonesia and Thailand. In the annual list which ranks the region's largest companies by revenue for the 2024 fiscal year, Malaysia's entries generated a combined US$201.6 billion (RM856.2 billion) in revenue — with its top 20 companies contributing 64 per cent of that total. 'Among the region's fastest-growing companies by revenue, Malaysia stood out with five in the top 20: NationGate Holdings, Guan Chong, Yinson Holdings, Chin Hin Group, and Gamuda,' the business magazine said in a statement. 'NationGate, a precision manufacturing firm, recorded the highest revenue growth across all 500 companies, with a staggering 723 per cent increase.' Other fast-rising Malaysian firms include Guan Chong, Yinson Holdings, Chin Hin Group, and Gamuda, with Guan Chong and Chin Hin among the top 10 regional performers for growth. Maybank remains the only Malaysian firm in the top 20 by revenue and also ranks among the region's most profitable companies, alongside CIMB Group Holdings and Public Bank, which together posted over US$5.5 billion in net income. Malaysia's largest companies span sectors such as financial services, energy, chemicals, healthcare, and construction, with notable names including Sime Darby, Tenaga Nasional, Petronas Chemicals, YTL, and IHH Healthcare. Regionally, Singapore's Trafigura led the Southeast Asia 500 for a second consecutive year, with US$243 billion in revenue. The top 20 companies on the list accounted for nearly half of the region's total combined revenue of US$1.82 trillion. 'Fortune's interest in the region reflects Southeast Asia's growing importance as an engine of global growth,' Clay Chandler, its executive editor for Asia said in the statement. 'The region has become a crucial manufacturing and export hub, which is drawing significant capital flows. This momentum has been further fuelled by Trump-era tariffs, which have reshaped global trade dynamics and driven a shift towards Southeast Asia.' The list also highlights a rise in female leadership, with 37 women now serving as CEOs of Southeast Asia 500 companies — an increase of 28 per cent from last year.
The Star
4 days ago
- Business
- The Star
FBM KLCI drifts lower amid fluid Middle Eastern situation
KUALA LUMPUR: The selling pressure in Malaysian equities continued as ongoing developments in the Iran-Israel conflict sapped appetite for equities and boosted safe-haven and energy prices. At midday, the benchmark FBM KLCI was down 5.88 points to 1,515.11, in line with the weakness in most regional markets. The number of declining issuers to advancers stood at a ratio of 1.63-to-1 after 2.01 billion shares changed hands for RM947.77mil. Bank counters were led lower by Hong Leong Bank, dropping 12 sen to RM19.30 and CIMB shedding five sne to RM6.70. Maybank slid two sen to RM9.57 while RHB lost four sen to RM6.28 and Public Bank slipped two sen to RM4.21. Port operator Westports, however, was seen surging 17 sen to RM5.20. In semiconductor-related stocks, MPI gained 14 sen to RM19.92, Vitrox jumped 10 sen to RM3.32 and Pentamaster climbed nine sen to RM2.81. In key Asian markets, the results were mixed as the geopolitical tensions, coupled with anticipation over scheduled central bank meetings this week, left investors fumbling for sense of certainty. In China, the composite index was down 0.19% to 3,382 while Hong Kong's Hang Seng index dropped 0.13% to 24,028. Japan's Nikkei rose 0.3% to 25,281 and in Singapore, the Straits Times index was up 0.28% to 3,919.
