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Malay Mail
6 hours ago
- Business
- Malay Mail
Bursa Malaysia ends mixed as bargain hunters lift KLCI slightly
KUALA LUMPUR, June 20 — 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
11 hours ago
- Business
- New Straits Times
Rakuten cuts FBM KLCI year-end target to 1,630 on weaker earnings outlook
KUALA LUMPUR: Rakuten Trade Sdn Bhd has cut its year-end target for the FTSE Bursa Malaysia KLCI (FBM KLCI) index to 1,630, down from its earlier forecast of 1,730, citing slower-than-expected corporate earnings growth. Research head Kenny Yee Shen Pin said the revised projection is based on a price-to-earnings ratio of 16 times, and reflects a more cautious outlook amid persistent operating cost pressures, weak global sentiment, and a lack of domestic catalysts. Although the current market valuation remains reasonable, Yee said it is not strong enough to attract investor interest amid prolonged uncertainty. "The revision was made based on the current assessment of the performance of listed companies, which are facing operating cost pressures, weak global market sentiment, and the absence of new domestic growth catalysts. "At present, the local market is in a sideways phase. There are no clear new catalysts. Investors also view our market as rather 'boring'," he said during Rakuten Trade's third-quarter market outlook media briefing today. Yee also noted that the FBM KLCI is back to the 1,005 level, which is widely regarded as a psychological support point. "If the index dips below that threshold of 1,480 or 1,470, I think that would be a screaming buy for the local market," he said, suggesting that any significant pullback could present strong buying opportunities for investors. Meanwhile, Rakuten Trade equity research vice president Thong Pak Leng highlighted the potential rationalisation of RON95 fuel subsidies as another headwind that could weigh on sentiment. "But judging from what's happening in the Middle East, the government might not proceed too aggressively. Perhaps we will see a partial rationalisation of RON95. It really depends on how high crude oil prices climb. "In the current state, there's no fresh catalyst pushing up the market. While valuations are reasonable, everything feels quite dull. That is why we are also seeing a lack of participation from retail investors," Thong said. On the ringgit, Yee said Rakuten Trade believes the local currency is currently undergoing some recalibration and is expected to trend between 4.10 and 4.20 against the US dollar by the end of the year. "I think maybe the ringgit will strengthen against the dollar as well. As you all know, the Dollar Index has already deteriorated by 10 per cent year-to-date against major currencies. "So moving forward, many expect the dollar index to continue to weaken further. Along the way, we may see the ringgit perform better against the dollar," he added.
The Star
11 hours ago
- Business
- The Star
FBM KLCI hovers near 1,500 as uncertainty mounts
KUALA LUMPUR: Malaysia's main stock index came closer to dipping below the 1,500-point psychological level on Friday as investors fretted over the escalating Middle East conflict. The FBM KLCI dropped 0.5 points to 1,500.94, grazing the support amid worries the US will mount an attack on Iran over the coming weeks. Meanwhile, Malaysian policymakers are meeting their US counterparts to negotiate the level of tariffs imposed on Malaysian exports. TA Securities said the market sentiment will likely remain muted ahead of the weekend, with investors awaiting the outcome of the negotiations, which will determine future trade relations. "Immediate index support stays at 1,490, with stronger supports found at 1,465 followed by 1,444. Immediate resistance is maintained at 1,564 with next upside hurdles seen at the recent high of 1,586, followed by 1,610 ahead," it said in its market commentary. Rakuten Trade said it believes the market weakness is owing to persistent foreign selling. "Nonetheless, we would advocate our clients to accumulate on the blue chips if and when the index dips below the 1,500 mark at around the 1,480 thresholds," it said in its outlook. On the domestic market, Nestle shaved 21 sen to RM71.28, Petron dropped seven sen to RM3.82 and British American Tobacco fell six sen to RM4.50. Notable gainers included Allianz up 20 sen to RM19.20, Apollo gaining eight sen to RM6.58 and Yinson eising seven sen to RM2.39. Top actives were Magma up one sen to 47.5 sen, Velesto unchanged at 18.5 sen and Pavilion REIT down four sen to RM1.50.
Free Malaysia Today
15 hours ago
- Business
- Free Malaysia Today
Bursa ends mixed in choppy trading
KUALA LUMPUR : Bursa Malaysia ended a choppy but directionless trading session, with the index moving in a narrow range, amid global uncertainties, as investors refrained from taking long positions. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices ended broadly lower as geopolitical tensions escalated over potential involvement of the US in the Israel-Iran conflict. Risk appetite declined amid reports that US president Donald Trump had met with senior advisers to review military options, including possible strikes on Iran. 'Locally, we maintain our cautious stance due to the escalation of geopolitical tensions in the Middle East. 'We are hopeful that Israel and Iran will engage in peace talks to ease tensions and restore confidence among local investors,' he told Bernama. Thong noted that buying opportunities may emerge in oil and gas and plantation stocks. 'For the moment, we maintain our weekly FTSE Bursa Malaysia KLCI (FBM KLCI) target at the 1,500-1,530 range,' he said. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Sedek Jantan said on the local front, attention turned to the progress of the US-Malaysia trade negotiations. Investment, trade and industry minister Tengku Zafrul Aziz and his delegation's arrival in Washington to engage with US trade representative Jamieson Greer and senior officials marks a pivotal moment in addressing tariff-related uncertainties that have clouded investor outlook in recent weeks. 'Despite the cautious backdrop, selected domestically oriented sectors saw notable interest. 'Consumer discretionary and telecommunications stocks led gainers, underscoring investor confidence in Malaysia's underlying economic resilience,' said Sedek. Adding to the constructive narrative, Malaysia's sharp rise in the latest International Institute for Management Development (IMD) World Competitiveness Ranking (WCR) 2025 – advancing 11 spots to 23rd globally – reinforces the country's reform momentum and macroeconomic credibility. 'This supports our positive medium-term outlook, particularly for the construction sector, where structural themes such as hyperscale data centre investments and the Johor-Singapore special economic zone are expected to serve as key catalysts for growth,' he added. At 5pm, the FBM KLCI reversed earlier losses to settle 0.31 of-a-point or 0.02%, higher to 1,511.95 from yesterday's close of 1,511.64. The benchmark index opened 0.25 of-a-point higher at 1,511.89 and fluctuated between 1,509.42 and 1,512.96 throughout the trading session. The broader market was, however, negative, with 488 decliners outnumbering 361 gainers. A total of 503 counters were unchanged, 1,054 were untraded and 13 were suspended. Turnover declined to 2.42 billion units valued at RM1.79 billion compared with yesterday's 3.03 billion units worth RM1.92 billion. Among heavyweights, Maybank gained 7 sen to RM9.62, Tenaga Nasional dipped 8 sen to RM14.22, Public Bank added 2 sen to RM4.24, CIMB slid 1 sen to RM6.65, and IHH Healthcare eased 4 sen to RM6.85. As for the most active stocks, Tanco Holdings inched up 0.5 sen to 98 sen, SNS Network Technology gained 4 sen to 53.5 sen, Magma Group rose 3 sen to 46 sen, NexG shed 1.5 sen to 34.5 sen, and Alam Maritim Resources slid 0.5 sen to 3 sen. On the index board, the FBM Emas Index was down by 1.47 points to 11,301.81 and the FBMT 100 Index dropped 2.44 points to 11,080.10. The FBM Emas Shariah Index fell 8.03 points to 11,310.34, the FBM ACE Index slipped 1.63 points to 4,441.34, and the FBM 70 Index shrank 22.21 points to 16,200.79. Sector-wise, the plantation index dipped 12.70 points to 7,238.04, but the energy index rose 1.84 points to 740.61. The financial services index climbed 24.86 points to 17,421.43, but the industrial products and services index eased by 0.09 of-a-point to 150.06. The Main Market volume narrowed to 1.06 billion units valued at RM1.55 billion from 1.19 billion units worth RM1.61 billion registered at yesterday's close. Warrants turnover shrank to 1.16 billion units worth RM180.99 million versus 1.62 billion units valued at RM245.78 million previously. The ACE Market volume declined to 194 million units valued at RM60.65 million against 210.30 million units worth RM71.29 million yesterday. Consumer products and services counters accounted for 187.75 million shares traded on the Main Market, industrial products and services (133.44 million), construction (78.61 million), technology (158.98 million), SPAC (nil), financial services (62.21 million), property (112.25 million), plantation (14.12 million), REITs (23.75 million), closed end fund (9,900), energy (124.29 million), healthcare (72.78 million), telecommunications and media (35.20 million), transportation and logistics (29.70 million), utilities (31.23 million), and business trusts (24,900).
Free Malaysia Today
15 hours ago
- Business
- Free Malaysia Today
Bursa 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. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices closed lower as geopolitical tensions escalated following reports that the 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 FTSE Bursa Malaysia KLCI (FBM KLCI) is trading at around 12 times the 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-chip stocks with strong fundamentals that offer high dividends, such as those in the 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 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, while foreign participation has been trending downward, it has not yet reached the lows seen in mid-April,' he added. At 5pm, the FBM KLCI was 0.69%, or 10.51 points lower, at 1,501.44 from yesterday'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 were suspended. Turnover expanded to 2.81 billion units valued at RM1.69 billion compared with yesterday's 2.42 billion units worth RM1.79 billion. Among the heavyweights, Maybank shed 2 sen to RM9.60, Tenaga Nasional and IHH Healthcare remained unchanged at RM14.22 and RM6.85 respectively, Public Bank slipped 5 sen to RM4.19, and CIMB declined 7 sen to RM6.58. For the most active stocks, PUC shed 1 sen to 2 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 sen to 54.5 sen, and Borneo Oil was flat at 1 sen. On the index board, the FBM Emas Index fell 78.06 points to 11,223.74, the FBMT 100 Index lost 76.09 points to 11,004.01, and the FBM Emas Shariah Index tumbled 77.45 points to 11,232.89. The FBM 70 Index slumped 107.34 points to 16,093.45 and the FBM ACE Index was 26.29 points lower at 4,415.05. By sectors, the plantation index trimmed 19.43 points to 7,218.61 and the energy index decreased by 0.96 of-a-point to 739.65. The financial services index shrank 91.28 points to 17,330.14 and the industrial products and services index edged down 1.82 points to 148.24. The Main Market volume increased to 1.13 billion units worth RM1.45 billion from 1.06 billion units valued at RM1.55 billion registered at yesterday's close. Warrants turnover expanded to 1.38 billion units valued at RM164.26 million, versus 1.16 billion units worth RM180.99 million previously. The ACE Market volume advanced to 294.93 million units valued at RM81.53 million against 194 million units valued at RM60.65 million yesterday. Consumer products and services counters accounted for 208.57 million shares traded on the Main Market, industrial products and services (180.37 million), construction (89.58 million), technology (144.96 million), SPAC (nil), financial services (55.48 million), property (155.34 million), plantation (15.85 million), REITs (26.18 million), closed end fund (8,000), energy (130.36 million), healthcare (51.27 million), telecommunications and media (21.23 million), transportation and logistics (23.23 million), utilities (36.46 million) and business trusts (18,900).
