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Wednesday, 25 April 2018

Bursa on the broader market, losers led gainers follows current lack of catalysts to boost investors’ appetite weigh down.


Malaysia: Bursa Malaysia opened lower this morning in tracking the weaker performance of regional bourses and amid continued concerns over rising US bond yields.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) traded at 1,862.71, down 2.63 points from Tuesday’s 1,865.34.
The index opened 1.86 points easier at 1,863.48.
On the broader market, losers led gainers 218 against 55, while 114 counters were unchanged, 1,525 untraded and 30 others suspended.
Volume stood at 102.29 million units valued at RM38.55 million.
Maybank IB Research said the FBM KLCI fell for the third consecutive day yesterday in plunging 15.02 points to 1,865.34, spooked by rising US yields.
“The weaker overnight performance of US markets, could continue to weigh down domestic sentiment, as well as the current lack of catalysts to boost investors’ appetite.
“Technically, we expect the FBM KLCI to trade between 1,850 and 1,880 today. Downside supports are 1,857 and 1,833,” it added.
Among heavyweights, Maybank fell four sen to RM10.58, CIMB eased one sen to RM7.21, Public Bank bagged two sen to RM24.12, while Tenaga and Petronas Chemicals were flat at RM15.88 and RM8.49 respectively.
For actives, Sapura Energy shed 2.5 sen to 68 sen, Hibiscus fell 3.5 sen to 79 sen, Hibiscus warrant slid two sen to 37.5 sen, while Xinghe and Globaltec eased half-a-sen each to five sen and 4.5 sen respectively.
The FBM Emas Index was 39.86 points lower at 12,934.55, the FBMT 100 Index fell 36.88 points to 12,753.71 and the FBM Emas Shariah Index slipped 49.64 points to 13,082.06.
The FBM 70 dropped 101.13 points to 15,185.11 and the FBM Ace eased 27.48 points for 5,294.98.
Sector-wise, the Industrial Index gained 3.21 points to 3,215.0 and the Plantation Index improved 0.06 of a point to 7,992.02 while the Finance Index slipped 36.03 points to 18,269.01.
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Tuesday, 24 April 2018

#Ringgit traded higher against major currencies on the back of higher US Treasury yields to move even higher.


Malaysia: The ringgit opened easier against the US dollar today on the back of higher US Treasury yields, a dealer said. At 9.25 am, the local unit was quoted at 3.9060/9090 from 3.8965/8995 recorded at Monday’s close.
OANDA Head of Trading Asia-Pacific, Stephen Innes said Malaysian local bonds continued to sell off throughout yesterday’s session, around weakening risk sentiment embracing the upcoming general elections and rising US Treasury yields.
“The Malaysian bond market look poised to continue declining ahead of the elections and even more so, as US Treasury yields look poised to move even higher,” he told Bernama.
Innes said despite the long-term supportive underlying structure from higher oil prices, the short-term election drivers and a broadly stronger greenback will continue to put downward pressure on the ringgit, near term.
“We could see a test of the critical RM3.90 per dollar level,” he added.
The ringgit traded higher against a basket of major currencies.Against the Singapore dollar, it rose to 2.9433/9473 from 2.9452/9481 and appreciated versus the yen to 3.5884/5915 from 3.6005/6043.
The ringgit improved to 5.4387/4433 from 5.4411/4464 vis-a-vis the British pound and advanced to 4.7630/7678 from 4.7658/7706 when compared with the euro.

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Monday, 23 April 2018

Bursa bullish outlook on Bursa Malaysia remains intact has also, Volume stood at 77.21 million reinforced by the positive trending indicators.


Malaysia: Bursa Malaysia opened higher this morning after taking a breather on last Friday on profit-taking.
At 9.06 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) traded at 1,890, up 2.31 points from last Friday’s 1,887.75.
The index opened 2.71 points higher at 1,890.46.
On the broader market, losers led gainers 102 against 88, while 167 counters were unchanged, 1,557 untraded and 18 others suspended.
Volume stood at 77.21 million units valued at RM26.39 million.
A dealer said the bullish outlook on Bursa Malaysia remains intact after scoring an all-time high of 1,895.18, up 15.86 points on Thursday and despite closing lower on Friday.
“The technical outlook of the FBM KLCI remains with a bullish-bias. The upside-bias outlook is also reinforced by the positive trending of momentum indicators,” he added.
TA Securities said the immediate uptrend support on pullbacks was at 1,874 and looking ahead, a convincing breakout above 1,896 high should aim for 1,921.
Among heavyweights, Maybank fell six sen to RM10.66, Public Bank shed two sen to RM24.18, Tenaga bagged four sen to RM15.96, while Petronas Chemicals and CIMB gained two sen each to RM8.50 and RM7.32 respectively.
For actives, Panpage bagged 1.5 sen to 28 sen, Sapura Energy eased half-a-sen to 75 sen, while Borneo Oil, K-Star warrant and Hubline were flat at eight sen 4.5 sen and 12 sen.
The FBMT 100 Index rose 10.15 points to 12,986.17, the FBM Emas Shariah Index gained 23.35 points to 13,373.42, the FBM Ace grabbed 16.42 points for 5,460.54 and the FBM Emas Index was 6.45 points better at 13,174.99.
The FBM 70 slid 7.35 points to 15,609.68.
Sector-wise, the Industrial Index bagged 9.31 points to 3,294.01 and the Plantation Index improved 19.15 points to 8,013.04.But, the Finance Index declined 30.58 points to 18,457.26.
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Friday, 20 April 2018

Lack of market demand causes ringgit opened easier against the US dollar. Also, the local unit was quoted at 3.8900/8950 from 3.8890/8920 recorded


Malaysia: The ringgit opened easier against the US dollar today on lack of market demand.
At 9.01am, the local unit was quoted at 3.8900/8950 from 3.8890/8920 recorded at Thursday’s close.
However, the ringgit traded higher against a basket of other major currencies.
It rose against the Singapore dollar to 2.9627/9683 from 2.9694/9728, and appreciated versus the yen to 3.6203/6260 from 3.6214/6252.
The local note improved to 5.4787/4861 from 5.5204/5263 vis-a-vis the British pound, and advanced to 4.8026/8095 from 4.8103/8144 compared to the euro.

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Thursday, 19 April 2018

Bursa market could consolidate sideways on profit-taking that was 152 gainers against 69 losers, while 134 counters unchanged, 1,557 untraded and 26 others suspended.


Malaysia: Bursa Malaysia opened higher this morning supported by buying in key heavyweight counters.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) improved 6.60 points to 1,885.92 from Wednesday’s closing of 1,879.32.
The index opened 9.50 points better at 1,888.83.
On the broader market, there were 152 gainers against 69 losers, while 134 counters were unchanged, 1,557 untraded and 26 others suspended.
Volume stood at 162.63 million units valued at RM66.12 million.
Maybank Investment Bank Research said yesterday’s late buying support on selected blue chips helped to narrow losses, however, negative sentiment remained in the broader market.
“For today, the market could consolidate sideways in the near term as profit-taking accelerates near the 1,880 level, which is our end-2018 KLCI target.
“Technically, we expect the FBM KLCI to trade between 1,870 and 1,900 today,” it said in a note.
Among heavyweights, Maybank gained two sen to RM10.62, PBBank bagged four sen to RM24.04, PChem added 12 sen to RM8.57, while Tenaga and CIMB were both unchanged at RM15.92 and RM7.30, respectively.
Among the advancers, Allianz and KLK both rose 36 sen to RM11.00 and RM25.86, respectively, PetDag added 24 sen to RM27.10, PetGas improved 18 sen to RM18.70 while F&N and PPB both increased 16 sen to RM33.16 and RM18.62, respectively.
For actives, SapNRG was up two sen to 75 sen, Sumatec, Perisai and MMAG inched up half-a-sen each to seven sen, five sen and 25.5 sen, respectively, while Nexgram shed half-a-sen to six sen.
The FBMT 100 Index added 38.91 points to 12,979.33, the FBM Emas Shariah Index gained 50.77 points to 13,337.84, the FBM 70 rose 24.56 points to 15,675.57 and the FBM Ace put on 18.58 points to 5,530.96.
The FBM Emas Index was 38.93 points better at 13,176.13,
Sector-wise, the Finance Index increased 8.17 points to 18,379.77, the Industrial Index bagged 21.64 points to 3,259.62 and the Plantation Index added 22.91 points to 8,069.62.

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Wednesday, 18 April 2018

Bursa Malaysia is expected to trend as trade worries dominated & pace of growth could slow amid encouraging corporate earnings releases.


Malaysia: Bursa Malaysia extended gains from yesterday to open higher this morning and in taking the lead from the bullish sessions on US, European stock markets, while outweighing lingering concerns over geopolitical and global trade tensions.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) improved 3.07 points at 1,883.56 from Tuesday’s close of 1,880.49.
The index opened 3.5 points better at 1,883.99.
Public Investment Bank Bhd said Bursa Malaysia is expected to trend higher as hefty gains by the technology sector led Wall Street higher for a second consecutive day, amid encouraging corporate earnings releases.
“Meanwhile, Chinese stocks fell to a year-low as trade worries dominated. Official data showed Chinese economic growth holding steady in the first quarter, although many in the markets argued that the pace of growth could slow later this year,” it said in a note.
China’s gross domestic product grew 6.8 per cent in the first quarter over the same period last year, above the government’s 6.5 per cent expectation.
Market breadth was positive with 162 gainers as compared to 59 losers, while 137 counters were unchanged, 1,554 untraded and 26 others suspended.
Volume stood at 124.43 million units valued at RM43.63 million.
Among heavyweights, Maybank eased two sen to RM10.60, PBBank and IHH bagged two sen each to RM24.0 and RM6.11 respectively, while Tenaga and PChem both gained four sen each to RM15.98 and RM8.55.
Among the advancers, Nestle climbed RM1.80 to RM149.80, KLK increased 36 sen to RM25.90, PetronM improved 19 sen to RM8.69, HengYuan added 13 sen to RM8.87, while GTronic, Vitrox and GenP all improved eight sen each to RM4.41, RM5.52 and RM10.06.
For actives, Iris was one sen higher at 19 sen, PUC and SapNRG both inched up half-a-sen to 27.5 sen and 77.5 sen, while SKH and Vizione were both flat at nine sen and 14.5 sen.
The FBMT 100 Index added 23.36 points to 12,978.90, the FBM Emas Shariah Index gained 32.09 points to 13,392.04 and the FBM 70 rose 35.74 points to 15,729.13 and the FBM Ace rose 62.36 points to 5,597.05.
But the FBM Emas Index was 24.04 points lower at 13,181.80,
Sector-wise, the Finance Index increased 5.80 points for 18,355.04, the Industrial Index bagged 5.09 points to 3,246.02 and the Plantation Index added 7.62 points to 8,047.58.

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