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Malaysian Reserve
11 hours ago
- Business
- Malaysian Reserve
Bursa Malaysia to remain cautious, CI to trade within 1,500-1,530 range next week
BURSA Malaysia is expected to remain cautious next week, tracking Wall Street's performance as markets digest signals from the United States (US) Federal Open Market Committee (FOMC), said an analyst. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan noted that the US Federal Reserve's (Fed) projections, characterised by slower growth, elevated inflation, and a higher unemployment trajectory for 2025–2027—suggest a stagflationary undertone, which could weigh on risk sentiment. 'Growth-sensitive sectors may face headwinds as the policy outlook remains uncertain. The split in the FOMC's dot plot, with members divided between no interest rates cuts and two cuts by year-end, implies limited near-term easing and reduces the likelihood of a July cut,' he told Bernama. Mohd Sedek also pointed out that the benchmark index is hovering near the psychological threshold of 1,500 points, adding that a breach of this level could trigger opportunistic buying by institutional investors, especially as the index nears its immediate support at 1,490 points. 'While the FOMC's guidance has introduced caution, markets may find support at lower levels, where valuations become more compelling. Geopolitical-driven volatility is often short-lived, and we expect a moderation in risk sentiment as these concerns subside,' he said. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng market focus next week will shift to several key economic indicators, including the US quarterly gross domestic product and jobless claims. 'The FBM KLCI is currently priced at about 12 times the calendar year 2025 price-to-earnings ratio, notably below its long-term average of over 16 times, indicating potential for further appreciation. 'The subdued valuation may attract bargain hunters. For the week ahead, we expect the index to trade within the 1,500–1,530 points range,' Thong added. For the week just ended, Bursa Malaysia was mostly subdued as investors stayed on the sidelines due to ongoing concerns over the Middle East conflict and the anticipated implementation of reciprocal tariffs by US President Donald Trump. On a Friday-to-Friday basis, the barometer index dropped 15.37 points to 1,502.74 from 1,518.11 a week earlier. The FBM Emas Index fell 141.109 points to 11,228.99, the FBMT 100 Index was down 128.59 points to 11,015.45, and the FBM Emas Shariah Index declined 128.19 points to 11,201.34. The FBM 70 Index decreased 250.96 points to 16,117.75 and the FBM ACE Index shrank 86.34 points to 4,400.85. Across sectors, the Industrial Products and Services Index eased by 4.08 points to 147.27 and the Energy Index was 5.05 points lower at 735.71. The Plantation Index slid 0.40 of-a-point to 7,220.52, the Healthcare Index dipped 85.83 points to 1,691.89, and the Financial Services Index tumbled 179.87 points to 17,468.38. Turnover dropped to 13.72 billion units worth RM10.84 billion from 13.89 billion units valued at RM10.61 billion in the preceding week. The Main Market volume fell to 6.29 billion units valued at RM9.63 billion against 6.42 billion units worth RM9.47 billion previously. Warrants turnover expanded to 6.16 billion units worth RM845.61 million versus 5.97 billion units valued at RM687.92 million a week ago. The ACE Market volume slipped to 1.25 billion units valued at RM361.21 million compared with 1.50 billion units worth RM458.75 million in the preceding week. — BERNAMA
The Sun
a day ago
- Business
- The Sun
Bursa Malaysia trends higher at mid-afternoon on bargain hunting
KUALA LUMPUR: Bursa Malaysia continued to rise in mid-afternoon trading, driven by ongoing bargain hunting in selected heavyweight stocks, particularly in the financial services and telecommunications sectors, analysts said. At 3 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.99 points higher at 1,505.43 from Thursday's close of 1,501.44. The benchmark index opened 0.50 of-a-point lower at 1,500.94. However, the broader market was subdued, with 476 decliners thumping 258 gainers, while 461 counters were unchanged, 1,229 untraded and 25 suspended. Turnover stood at 1.34 billion shares worth RM818.46 million. Hong Leong Investment Bank Bhd said the benchmark index is expected to remain in consolidation mode as investors navigate a volatile mix of global headwinds. Heightened geopolitical risks in the Middle East and rising concerns about stagflation in the United States, due to the imminent implementation of reciprocal tariffs by President Donald Trump, were highlighted in a note today. Among the heavyweights, Maybank was 9.0 sen firmer at RM9.69, Tenaga was flat at RM14.22, Public Bank grew 3.0 sen to RM4.22, CIMB gained 11 sen to RM6.69, and IHH was 1.0 sen higher at RM6.86. Of the most actively traded stocks, PUC and MYEG added half-a-sen each to 2.5 sen and 91 sen, respectively, Widad lost half-a-sen to 2.0 sen, Astro Malaysia and Tanco declined 1.0 sen each to 16.5 sen and 94.5 sen, respectively. On the index board, the FBM Emas Index climbed 11.39 points to 11,235.13, the FBMT 100 Index increased 17.43 points to 11,021.44, but the FBM Emas Shariah Index declined 35.42 points to 11,197.47. The FBM 70 Index lost 21.38 points to 16,072.07, and the FBM ACE Index dropped 28.92 points to 4,386.13. By sector, the Financial Services Index soared 151.93 points to 17,482.07 and the Industrial Products and Services Index slid 1.08 to 147.16. The Plantation Index slid 20.63 points to 7,197.98, and the Energy Index declined by 3.08 points to 736.57
The Sun
a day ago
- Business
- The Sun
Bursa Malaysia rises on financial, telco stock gains
KUALA LUMPUR: Bursa Malaysia continued to rise in mid-afternoon trading, driven by ongoing bargain hunting in selected heavyweight stocks, particularly in the financial services and telecommunications sectors, analysts said. At 3 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.99 points higher at 1,505.43 from Thursday's close of 1,501.44. The benchmark index opened 0.50 of-a-point lower at 1,500.94. However, the broader market was subdued, with 476 decliners thumping 258 gainers, while 461 counters were unchanged, 1,229 untraded and 25 suspended. Turnover stood at 1.34 billion shares worth RM818.46 million. Hong Leong Investment Bank Bhd said the benchmark index is expected to remain in consolidation mode as investors navigate a volatile mix of global headwinds. Heightened geopolitical risks in the Middle East and rising concerns about stagflation in the United States, due to the imminent implementation of reciprocal tariffs by President Donald Trump, were highlighted in a note today. Among the heavyweights, Maybank was 9.0 sen firmer at RM9.69, Tenaga was flat at RM14.22, Public Bank grew 3.0 sen to RM4.22, CIMB gained 11 sen to RM6.69, and IHH was 1.0 sen higher at RM6.86. Of the most actively traded stocks, PUC and MYEG added half-a-sen each to 2.5 sen and 91 sen, respectively, Widad lost half-a-sen to 2.0 sen, Astro Malaysia and Tanco declined 1.0 sen each to 16.5 sen and 94.5 sen, respectively. On the index board, the FBM Emas Index climbed 11.39 points to 11,235.13, the FBMT 100 Index increased 17.43 points to 11,021.44, but the FBM Emas Shariah Index declined 35.42 points to 11,197.47. The FBM 70 Index lost 21.38 points to 16,072.07, and the FBM ACE Index dropped 28.92 points to 4,386.13. By sector, the Financial Services Index soared 151.93 points to 17,482.07 and the Industrial Products and Services Index slid 1.08 to 147.16. The Plantation Index slid 20.63 points to 7,197.98, and the Energy Index declined by 3.08 points to 736.57
The Sun
4 days ago
- Business
- The Sun
Selling pressure continues to weigh on Bursa Malaysia at mid-afternoon
KUALA LUMPUR: Bursa Malaysia continued to trade lower at mid-afternoon due to persistent selling in plantation and energy stocks, said analysts. At 3.07 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 5.49 points, to 1,514.50 from Monday's close of 1,519.99. The benchmark index opened 1.17 points lower at 1,518.82. Market breadth was negative, with 499 decliners leading 313 gainers, while 452 counters were unchanged, 1,152 untraded and 22 suspended. Turnover stood at 2.41 billion shares worth RM1.15 billion. Maybank Investment Bank Bhd in a note said on a technical perspective, it expects the benchmark index to range between 1,510 and 1,530 points today, with supports remaining at 1,500 and 1,440 points. Among the heavyweights, SD Guthrie fell 10 sen to RM4.60, IOI Corp shaved 6.0 sen to RM3.66, Petronas Chemicals slid 5.0 sen to RM3.35, Axiata dropped 3.0 sen to RM2.12, and Hong Leong Financial Group slipped 22 sen to RM15.82. As for the most active stocks, Borneo Oil and Velesto Energy dipped half-a-sen each to half-a-sen and 18.5 sen respectively, Top Glove decreased 4.0 sen to 71.5 sen, Tanco added 2.0 sen to 97.5 sen, and MYEG rose half-a-sen to 93.5 sen. On the index board, the FBM Emas Index slid 40.02 points to 11,320.77 and the FBMT 100 Index slipped 37.18 points to 11,101.17. The FBM Emas Shariah Index shed 32.94 points to 11,340.72, the FBM ACE Index shrank 33.63 points to 4,438.18, and the FBM 70 Index decreased 42.22 points to 16,241.23. Sector-wise, the Plantation Index tumbled 80.47 points to 7,269.80 and the Energy Index sank 15.61 points to 736.55. The Financial Services Index gave up 98.93 points to 17,402.07, and the Industrial Products and Services Index decreased by 0.69 of-a-point to 150.44.
The Star
6 days ago
- Business
- The Star
Bursa Malaysia to trade at 1,500-1530 this week amid tariff and middle east tensions
KUALA LUMPUR (Bernama): Bursa Malaysia's key index is set to move between 1,500 and 1,530 nthis week, as markets remain under pressure amid concerns over Washington's planned unilateral tariff letters and escalating tensions following Israel's strike on Iran. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said markets are expected to remain vulnerable and trade lower in the near term, unless a meaningful breakthrough occurs over the weekend to de-escalate the conflict, an outcome he said appears unlikely. "From a tactical standpoint, oil and gas (O&G) stocks may present short-term trading opportunities, particularly those with upstream exposure or companies expanding their upstream concessions, as they stand to benefit directly from the current rally in oil prices,' he told Bernama. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market participants are advised to closely monitor ongoing geopolitical tensions and any developments related to US President Donald Trump's stance on US-China trade tariffs. "We also believe the rise in crude oil prices could present opportunities for investors to explore O&G and commodity related stocks. We anticipate the benchmark index to trend within the 1,500-1,530 range, representing its support and resistance levels,' he added. Thong noted that if tensions continue to escalate, the second support level is projected at 1,485. For the week just ended, Bursa Malaysia kicked off in positive territory at the beginning of the week, driven by positive developments in the US-China trade negotiations, stocks accumulation by local institutions, and a slowdown in foreign selling activity. On a Friday-to-Friday basis, the barometer index rose 1.32 points to 1,518.11 from 1,516.79 a week earlier. The FBM Emas Index gained 14.84 points to 11,370.18, the FBMT 100 Index added 20.35 points to 11,144.04, and the FBM Emas Shariah Index climbed 0.31 of-a-point to 11,329.53. The FBM 70 Index increased 72.14 points to 16,368.71 while the FBM ACE Index fell 32.13 points to 4,487.19. Across sectors, the Industrial Products and Services Index was 0.55 of-a-point higher at 151.35 and the Energy Index gained 22.31 points to 740.76. The Plantation Index slid 31.93 points to 7,220.92, the Healthcare Index drooped 16.42 points to 1,777.72, and the Financial Services Index tumbled 60.06 points to 17,648.25. Turnover surged to 13.89 billion units worth RM10.61 billion from 9.80 billion units worth RM8.18 billion in the preceding week. The Main Market volume jumped to 6.42 billion units valued at RM9.47 billion against 4.50 billion units valued at RM7.21 billion previously. Warrants turnover expanded to 5.97 billion units worth RM687.92 million versus 4.07 billion units worth RM533.43 million a week ago. The ACE Market volume improved to 1.50 billion units valued at RM458.75 million compared with 1.22 billion units valued at RM432.22 million in the preceding week. - Bernama
