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New Straits Times
a day 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.
Malaysian Reserve
5 days ago
- Business
- Malaysian Reserve
Bursa Malaysia rebounds to close higher in line with regional markets
KUALA LUMPUR — Bursa Malaysia recovered its earlier losses to close marginally higher, supported by renewed optimism in the data centre segment and a sectoral rotation into defensive plays, as investors positioned cautiously amid heightened geopolitical tensions. The rebound is in tandem with most regional markets performance, with investors anxiously awaiting several central banks' meetings this week, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.88 points, or 0.12 per cent, to 1,519.99 from last Friday's close of 1,518.11. The benchmark index, which opened 0.24 of-a-point lower at 1,517.87, moved between 1,512.26 and 1,521.38 throughout the trading session. Market breadth was negative, with decliners thumping gainers 612 to 321, while 509 counters were unchanged, 973 untraded and 21 suspended. Turnover narrowed to 2.83 billion units worth RM2.04 billion compared with Friday's 2.88 billion units valued at RM2.06 billion. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI performance today signalled continued resilience in Malaysia's domestic economy. Gains were led by technology and utilities counters, particularly those with strong domestic exposure. 'Today's market performance also mirrored patterns observed during the onset of the Russia–Ukraine conflict, with plantation and energy stocks driving sectoral gains on Bursa Malaysia. 'This reflects a broader shift towards commodities and inflation-sensitive sectors in times of geopolitical uncertainty,' Mohd Sedek told Bernama. Despite these risks, he added that the regional equity markets broadly rebounded, underpinned by an improved macroeconomic outlook in the United States. Meanwhile, SPI Asset Management managing director Stephen Innes said today's market activity appeared more like rotation rather than panic selling. Local funds were favouring lower-risk regional exchanges — those with deeper liquidity and larger defence companies — as geopolitical hedging becomes an integral part of their strategy. 'Bursa Malaysia lagged behind other markets initially, but by the close, it managed to hold up relatively well,' said Innes. Among the energy-related heavyweights, Tenaga firmed 6.0 sen to RM14.36, Petronas Gas rose 12 sen to RM17.96, Petronas Chemicals ticked up 7.0 sen to RM3.40, and MISC climbed 8.0 sen to RM7.58. For other heavyweights, Maybank was 11 sen lower at RM9.59, Public Bank eased 2.0 sen to RM4.23, CIMB shed 7.0 sen to RM6.75, and IHH Healthcare was 1.0 sen better at RM6.91. Among the most actively traded stocks, MYEG shaved 2.5 sen to 93 sen, Tanco eased half-a-sen to 95.5 sen, while Thrive Property Group, NexG, Velesto Energy, and Reservoir Link Energy added half-a-sen each to 1.5 sen, 35.5 sen, 19 sen, and 36 sen respectively. On the index board, the FBM Emas Index slid 9.39 points to 11,360.79, the FBMT 100 Index fell 5.69 points to 11,138.35, but the FBM Emas Shariah Index increased 44.13 points to 11,373.66. The FBM 70 Index declined 85.25 points to 16,283.46 and the FBM ACE Index dropped 15.38 points to 4,471.81. Sector-wise, the Energy Index advanced 11.40 points to 752.16 and the Plantation Index surged 129.35 points to 7,350.27. The Financial Services Index slipped 147.25 points to 17,501.00 and the Industrial Products and Services Index trimmed 0.22 of-a-point to 151.13. The Main Market volume narrowed to 1.25 billion units valued at RM1.80 billion from 1.37 billion units worth RM1.81 billion registered at Friday's close. Warrants turnover expanded to 1.35 billion units worth RM171.62 million versus 1.16 billion units valued at RM151.36 million previously. The ACE Market volume dwindled to 228.89 million units valued at RM74.30 million against 359.88 million units worth RM97.50 million on Friday. Consumer products and services counters accounted for 210.90 million shares traded on the Main Market, industrial products and services (166.96 million), construction (85.22 million), technology (165.43 million), SPAC (nil), financial services (68.42 million), property (132.48 million), plantation (19.66 million), REITs (27.72 million), closed end fund (27,000), energy (207.16 million), healthcare (61.74 million), telecommunications and media (33.36 million), transportation and logistics (38.82 million), utilities (33.58 million), and business trusts (1,300). — BERNAMA
New Straits Times
5 days ago
- Business
- New Straits Times
Bursa Malaysia rebounds to close higher in line with regional markets
KUALA LUMPUR: Bursa Malaysia recovered its earlier losses to close marginally higher, supported by renewed optimism in the data centre segment and a sectoral rotation into defensive plays, as investors positioned cautiously amid heightened geopolitical tensions. The rebound is in tandem with most regional markets performance, with investors anxiously awaiting several central banks' meetings this week, an analyst said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.88 points, or 0.12 per cent, to 1,519.99 from last Friday's close of 1,518.11. The benchmark index, which opened 0.24 of-a-point lower at 1,517.87, moved between 1,512.26 and 1,521.38 throughout the trading session. Market breadth was negative, with decliners thumping gainers 612 to 321, while 509 counters were unchanged, 973 untraded and 21 suspended. Turnover narrowed to 2.83 billion units worth RM2.04 billion compared with Friday's 2.88 billion units valued at RM2.06 billion. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI performance today signalled continued resilience in Malaysia's domestic economy. Gains were led by technology and utilities counters, particularly those with strong domestic exposure. "Today's market performance also mirrored patterns observed during the onset of the Russia–Ukraine conflict, with plantation and energy stocks driving sectoral gains on Bursa Malaysia. "This reflects a broader shift towards commodities and inflation-sensitive sectors in times of geopolitical uncertainty," Mohd Sedek told Bernama. Despite these risks, he added that the regional equity markets broadly rebounded, underpinned by an improved macroeconomic outlook in the United States. Meanwhile, SPI Asset Management managing director Stephen Innes said today's market activity appeared more like rotation rather than panic selling. Local funds were favouring lower-risk regional exchanges -- those with deeper liquidity and larger defence companies -- as geopolitical hedging becomes an integral part of their strategy. "Bursa Malaysia lagged behind other markets initially, but by the close, it managed to hold up relatively well," said Innes.
Barnama
5 days ago
- Business
- Barnama
Bursa Malaysia Rebounds To Close Higher In Line With Regional Markets
By Rosemarie Khoo Mohd Sani KUALA LUMPUR, June 16 (Bernama) -- Bursa Malaysia recovered its earlier losses to close marginally higher, supported by renewed optimism in the data centre segment and a sectoral rotation into defensive plays, as investors positioned cautiously amid heightened geopolitical tensions. The rebound is in tandem with most regional markets performance, with investors anxiously awaiting several central banks' meetings this week, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.88 points, or 0.12 per cent, to 1,519.99 from last Friday's close of 1,518.11. The benchmark index, which opened 0.24 of-a-point lower at 1,517.87, moved between 1,512.26 and 1,521.38 throughout the trading session. Market breadth was negative, with decliners thumping gainers 612 to 321, while 509 counters were unchanged, 973 untraded and 21 suspended. Turnover narrowed to 2.83 billion units worth RM2.04 billion compared with Friday's 2.88 billion units valued at RM2.06 billion. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI performance today signalled continued resilience in Malaysia's domestic economy. Gains were led by technology and utilities counters, particularly those with strong domestic exposure.
New Straits Times
6 days ago
- Business
- New Straits Times
Bursa Malaysia to trade at 1,500–1,530 next week amid tariffs, Middle East tensions
KUALA LUMPUR: Bursa Malaysia's key index is set to move between 1,500 and 1,530 next 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.
