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Malaysian Reserve
12 hours ago
- Business
- Malaysian Reserve
Bursa Malaysia closes mixed, CI ekes out small gain on bargain hunting
KUALA LUMPUR — Bursa Malaysia ended the week mixed with the benchmark index climbing 0.08 per cent, as bargain hunting emerged following the recent sell-off, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.30 points to 1,502.74 from Thursday's close of 1,501.44. The benchmark index opened 0.50 of-a-point lower at 1,500.94 and moved between 1,500.04 and 1,507.97 throughout the trading session. However, the broader market was negative, with 517 decliners outpacing 319 gainers, while 505 counters were unchanged, 1,083 untraded and 25 suspended. Turnover dropped to 2.60 billion units worth RM3.37 billion compared with Thursday's 2.81 billion units valued at RM1.69 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said major regional indices namely Hong Kong's Hang Seng Index and Singapore's Straits Times Index were also in positive territory after China kept benchmark interest rates unchanged. 'Technology-driven Asian indices were the standout performers, buoyed by a rebound in investor confidence and a recovery in the sector,' he told Bernama. Thong also said United States (US) President Donald Trump has delayed his decision on potential US involvement in the Middle East conflict by two weeks, providing markets with short-term relief. 'As for the local bourse, we see that the benchmark index is well supported above the 1,500 points; however, it is not yet out of the danger zone unless it can climb above 1,515 points,' Thong said. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI remained broadly stable throughout the trading day, marking a weekly decline of 16 points from last Friday's close of 1,518.11 points. He said the negative return reflects a volatile week shaped by rising geopolitical risks and cautious investor sentiment. 'Despite today's intraday rebound, the broader week-on-week performance underscores prevailing uncertainty in the market,' he said. On the macroeconomic front, Mohd Sedek noted that the data from the Department of Statistics showed a a month-on-month decline in both Malaysia's imports and exports in May, potentially indicating weakening global demand or ongoing supply chain disruptions. 'Notably, exports to the US fell by 2.8 per cent from RM19.2 billion to RM18.7 billion. However, this contraction was not uniform; only four of Malaysia's top ten export destinations—namely China, the European Union, Taiwan, and Vietnam—registered positive growth,' said Mohd Sedek. Among the heavyweights, Maybank rose 6.0 sen to RM9.66, Tenaga and IHH Healthcare remained unchanged at RM14.22 and RM6.85 respectively, Public Bank gained 2.0 sen to RM4.21, and CIMB advanced 7.0 sen to RM6.65. For the most active stocks, PUC and MYEG were flat each at 2.0 sen and 90.5 sen respectively, Tanco declined 1.5 sen to 94.0 sen, MR DIY slid 1.0 sen to RM1.63, and YTL Corporation dropped 4.0 sen to RM2.12. On the index board, the FBM Emas Index perked up 5.25 points to 11,228.99, the FBMT 100 Index increased 11.44 points to 11,015.45, while the FBM Emas Shariah Index declined 31.55 points to 11,201.34. The FBM 70 Index added 24.30 points to 16,117.75 and the FBM ACE Index dropped 14.20 points to 4,400.85. By sector, the Financial Services Index soared 138.24 points to 17,468.38 and the Industrial Products and Services Index slid 0.97 of-a-point to 147.27. The Plantation Index improved 1.91 points to 7,220.52 while the Energy Index eased by 3.94 points to 735.71. The Main Market volume swelled to 1.64 billion units valued at RM3.22 billion from 1.13 billion units worth RM1.45 billion registered at Thursday's close. Warrants turnover tumbled to 634.80 million units worth RM82.94 million versus 1.38 billion units worth RM164.26 million previously. The ACE Market volume expanded to 331.19 million units valued at RM73.43 million against 294.93 million units worth RM81.53 million yesterday. Consumer products and services counters accounted for 280.39 million shares traded on the Main Market, industrial products and services (230.16 million), construction (79.20 million), technology (191.47 million), SPAC (nil), financial services (131.23 million), property (166.28 million), plantation (35.12 million), REITs (78.05 million), closed end fund (7,300), energy (150.50 million), healthcare (103.21 million), telecommunications and media (79.02 million), transportation and logistics (21.27 million), utilities (95.82 million), and business trusts (66,200). — BERNAMA
New Straits Times
12 hours ago
- Business
- New Straits Times
Bursa Malaysia halts losing streak fuelled by banking heavyweights
KUALA LUMPUR: Bursa Malaysia ended its losing streak to close higher today, driven by gains in banking heavyweights. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 1.30 points or 0.09 per cent to 1,502.74 from Thursday's close of 1,501.44. The benchmark index opened 0.50 of-a-point lower at 1,500.94 and moved between 1,500.04 and 1,507.97 throughout the trading session. However, the broader market remained weak, with 518 decliners outnumbering 319 gainers, while 505 counters were unchanged, 1,057 untraded and 25 suspended. Turnover dropped to 2.60 billion units worth RM3.37 billion compared with Thursday's 2.81 billion units valued at RM1.69 billion. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI remained broadly stable throughout the trading day. He said the negative return reflects a volatile week shaped by rising geopolitical risks and cautious investor sentiment. Volatility has increased meaningfully, with the VIX climbing three points to 20, up from 17 a week ago, highlighting global risk aversion. Despite today's intraday rebound, the broader week-on-week performance underscores prevailing uncertainty in the market. "Looking ahead, we anticipate trading to remain cautious next week as markets digest the latest signals from the Federal Open Market Committee. "The Fed's updated projection - characterised by slower growth, elevated inflation and a higher unemployment trajectory for 2025-2027 - suggest a stagflationary undertone, which could weigh on risk appetite," he said. Sedek added that growth-sensitive sectors may face headwinds as the policy outlook remains uncertain.
Focus Malaysia
13 hours ago
- Business
- Focus Malaysia
Bursa Malaysia closes mixed, CI ekes out small gain on bargain hunting
BURSA Malaysia ended the week mixed with the benchmark index climbing 0.08 per cent, as bargain hunting emerged following the recent sell-off, said an analyst. At 5 pm, the FBM KLCI rose 1.30 points to 1,502.74 from Thursday's close of 1,501.44. The benchmark index opened 0.50 of-a-point lower at 1,500.94 and moved between 1,500.04 and 1,507.97 throughout the trading session. However, the broader market was negative, with 517 decliners outpacing 319 gainers, while 505 counters were unchanged, 1,083 untraded and 25 suspended. Turnover dropped to 2.60 bil units worth RM3.37 bil compared with Thursday's 2.81 bil units valued at RM1.69 bil. —June 20, 2025
Focus Malaysia
2 days ago
- Business
- Focus Malaysia
Bursa Malaysia closes lower in sync with regional markets
BURSA Malaysia closed lower in tandem with the weak performance across the region, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.69%, or 10.51 points lower, at 1,501.44 from Wednesday's close of 1,511.95. The benchmark index opened 0.99 of-a-point higher at 1,512.94, its highest for the day, and thereafter languished throughout the session to hit a low of 1,501.38 just before closing. Market breadth was subdued, with 660 decliners outnumbering 298 gainers. Another 460 counters were unchanged, 1,005 were untraded and 11 suspended. Turnover expanded to 2.81 billion units valued at RM1.69 bil compared with Wednesday's 2.42 billion units worth RM1.79 bil. – June 19, 2025
New Straits Times
2 days ago
- Business
- New Straits Times
Bursa Malaysia closes lower in sync with regional markets
KUALA LUMPUR: Bursa Malaysia closed lower in tandem with the weak performance across the region, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.69 per cent, or 10.51 points lower, at 1,501.44 from Wednesday's close of 1,511.95. The benchmark index opened 0.99 of-a-point higher at 1,512.94, its highest for the day, and thereafter languished throughout the session to hit a low of 1,501.38 just before closing. Market breadth was subdued, with 660 decliners outnumbering 298 gainers. Another 460 counters were unchanged, 1,005 were untraded and 11 suspended. Turnover expanded to 2.81 billion units valued at RM1.69 billion compared with Wednesday's 2.42 billion units worth RM1.79 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices closed lower as geopolitical tensions escalated following reports that the United States (US) was preparing for a potential military action against Iran. At the same time, the US Federal Reserve (Fed) warned that the ongoing trade war led by President Donald Trump may fuel inflation and hinder US economic expansion. Market participants closely monitored the Fed's latest meeting on Tuesday and Wednesday, as policymakers evaluated interest rates amid the president's tariff initiative. "On the domestic front, we maintain a vigilant stance in response to escalating global volatility and uncertainties," he told Bernama. On the other hand, Thong said the benchmark index is near its 1,500 psychological support level and should this level be broken, the next support level will be 1,485 points followed by 1,470 points. At current valuation, he said the FBM KLCI is trading at around 12 times calendar year 2025 price-to-earnings ratio, which is way below its long-term average of more than 16 times. "We advise investors to focus on blue-chips stocks with strong fundamentals that offer high dividends such as those in banking, telecommunications, and utilities sectors. "We anticipate the FBM KLCI to trend within the 1,500-1,510 range towards the weekend," said Thong. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI closed lower sans catalysts, causing market participants to remain edgy and uncertain. From January to May, he said fragile macroeconomic conditions and volatile markets were driven by fluctuating tariffs, Trump's tax bill, and Middle East tensions. Policy uncertainty, sticky inflation, and questions about the Fed's independence further fuelled concerns. For Bursa Malaysia, while foreign participation has been trending downward, it has not yet reached the the lows seen in mid-April, he added. Among the heavyweights, Maybank shed 2.0 sen to RM9.60, Tenaga and IHH Healthcare remained unchanged at RM14.22 and RM6.85 respectively, Public Bank slipped 5.0 sen to RM4.19, and CIMB declined 7.0 sen to RM6.58. For the most active stocks, PUC shed 1.0 sen to 2.0 sen, Tanco declined 2.5 sen to 95.5 sen, MYEG eased 2.5 sen to 90.5 sen, SNS Network Technology perked up 1.0 sen to 54.5 sen, and Borneo Oil was flat at 1.0 sen.
