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Tag: bursa malaysia

  • Bursa Malaysia downtrend likely to continue this week

    Bursa Malaysia is expected to continue its downtrend this week on gloomy investor sentiment as fears of a trade war was triggered by US President Donald Trump’s plan to impose steep tariffs on steel and aluminum imports.

    Affin Hwang Investment Bank Vice-President/Head of Retail Research Datuk Dr Nazri Khan Adam Khan said Trump’s Thursday decision of instituting tariffs of 25% on steel imports and 10% on inbound aluminium shipments had worsened the already cloudy sentiment in the market.

    “Therefore, investors believe the move would have a spillover effect on emerging markets like Malaysia and turn away from the equity market.

    “Trump’s announcement had sparked trade war worries that might involve countries like China, as well as European countries, and they are the major export destinations for Malaysia,” he said.

    Nazri Khan expects the wary sentiment would extend until this week, causing the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) to lower at around 1,850 points from Friday’s close of 1,856.07.

    For the week just-ended, Bursa Malaysia was traded mostly mixed to lower, despite touching a three-week high of 1,871.46 on Tuesday due to the encouraging corporate earning results.

    Moving in tandem with its regional peers, the local bourse was mostly affected by the new US Federal Reserve Chair’s hawkish remarks on the US monetary policy as fears emerged over the faster pace of interest rate hike.

    China’s sluggish manufacturing data in February and Trump’s tariff hike remarks also played a vital role in influencing the market barometer movement.

    On a Friday-to-Friday basis, the FBM KLCI finished 5.43 points easier at 1,856.07.

    The FBM Emas Index lost 139.83 points to 13,173.95, the FBMT100 Index depreciated 112.65 points to 12,892.74 and the FBM Emas Syariah Index dropped 229.04 points to 13,372.35.

    The FBM 70 dipped 394.07 points to 15,978.48 and the FBM Ace slumped 295.31 points to 6,154.67.

    On a sectoral basis, the Industrial Index decreased 36.68 points to 3,215.45, while the Plantation Index gained 18.50 points to 8,079.99 and the Finance Index surged 226.29 points to 18,228.07.

    Weekly turnover went up to 14.37 billion units worth RM14.20 billion from 12.80 billion units worth RM11.26 billion.

    Main market volume rose to 9.22 billion shares valued at RM13.30 billion from 7.81 billion shares valued at RM10.31 billion.

    Warrant turnover fell to 2.44 billion units worth RM439.50 million versus 2.96 billion units worth RM526.96 million last week.

    The ACE market advanced to 2.67 billion shares valued at RM441.25 million against 2.0 billion shares worth RM403.30 million.

    Gold futures contracts on Bursa Malaysia Derivatives are likely to remain uncertain this week, tracking the US Commodity Exchange’s (COMEX) gold market, said a dealer.

    Phillip Futures Sdn Bhd Dealer Tee Guy Eon said gold prices were expected to continue to be pressured by the expectation of the US Federal Reserve interest rate hike anytime soon.

    “The precious metal is vulnerable towards interest rates, as it could increase the opportunity cost of holding non-interest-bearing gold,” he said.

    For the week just ended, the overall local gold price traded slightly higher, lifted by positive sentiment following the uptrend on the COMEX gold futures as the US dollar eased on worries over US President Donald Trump’s plan to impose heavy tariffs on imported steel and aluminium.

    On a Friday-to-Friday basis, March 2018 and April 2018 decreased 33 ticks each to RM166.20 a gramme and RM166.95 a gramme, respectively, while May 2018 eased eight ticks to RM167.70 a gramme and June 2018 declined 17 ticks to RM167.70 a gramme.

    Weekly turnover rose to 20 lots worth RM334,400 from last week’s 14 lots worth RM236,260, while open interest fell to 70 contracts from 73 contracts.

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  • Bursa Malaysia to trade firmer this week

    Bursa Malaysia to trade firmer this week

    Bursa Malaysia is expected to trade firmer next week, taking cue from the encouraging 2017 gross domestic product (GDP) data released on Wednesday.

    Affin Hwang Investment Bank Vice-President/Head of Retail Research, Datuk Dr Nazri Khan Adam Khan said the 5.9% GDP growth, deemed as positive and taking on the good momentum from last year, would improve investors’ appetite on the local bourse.

    “We can see that the volume has gone up too, which means we have the momentum to trend higher next week.

    “The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) is also likely to touch the 1,860 points level next week,” he said.

    Bank Negara Malaysia in a statement said Malaysia’s GDP expanded 5.9% in the fourth quarter of 2017 from a year earlier, driven mainly by private sector demand, with support from the external sector, while the 2017 full-year GDP grew 5.9% against the 4.2% expansion in 2016.

    The central bank said the outlook for 2018 remained favourable, supported by domestic demand.

    Nazri said that the ringgit is also expected to be higher next week amid a stronger current-account surplus of RM12.9 billion in the fourth quarter last year.

    “The rebound in the ringgit to currently quote at 3.8-level, recovery in oil prices as well as positive sentiment on global equity markets, will boost the FBM KLCI’s performance and increase investors’ confidence,” he added.

    Meanwhile, Maybank Investment Bank in a note said in the first half of 2018 (1H2018) Market Outlook session, it expects fiscal stimulus pre-GE14 (General Election-14) and Bank Negara’s overnight policy rate (OPR) hike to be the two main thematics driving investment.

    “But for the longer term play, the focus is on multi-year orderbook replenishment in infrastructure construction, tourism and Look East Malaysia.

    “Fiscal stimulus in the lead up to the general election will be those in the consumer sector as a boost to disposal income is expected to continue and will be front loaded in 1H2018.

    ‘While for the OPR, it will benefit banks and it is believed, contractors will have the highest potential of winning jobs for the upcoming megaworks,” it added.

    On a Thursday-to-Friday basis, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished 18.46 points higher at 1,838.28.

    The FBM Emas Index jumped 142.43 points to 13,117.49, the FBMT100 Index appreciated 127.74 points to 12,829.58 and the FBM Emas Syariah Index fell 132.54 points to 13,145.10.

    On a sectoral basis, the Plantation Index gained 50.94 points to 7,996.97, the Industrial Index declined 18.70 points to 3,202.66, while the Finance Index increased 137.94 points to 17,594.41.

    Weekly turnover went down to 6.46 billion units worth RM7.76 billion from 15.68 billion units valued at RM16.43 billion.

    Main market volume fell to 4.08 billion shares valued at 7.30 billion from 10.01 billion units worth RM15.42 billion.

    Warrant turnover decreased to 1.24 billion units worth RM242.26 million from 2.79 billion units valued at RM566.26 million last week.

    The ACE market slipped to 1.10 billion shares worth RM205.73 million from 2.83 billion units worth RM432.96 million previously.

    The local market was closed on Friday for the Chinese New Year celebration.

    The gold futures contract on Bursa Malaysia Derivatives is likely to extend gains next week as investors remain cautious on global equity markets and a weaker US dollar, said an analyst.

    OANDA Corp Head of Trading for Asia Pacific, Stephen Innes said higher US inflation combined with the US dollar exhibiting zero correlation to higher interest rates amidst burdening dual deficits, should play out favourably for the gold markets.

    “Gold is in a perfect spot to extend gains. Higher US inflation as expressed through the higher consumer price index data is positive. We could see a more significant move into gold if equity prices start to lose traction,” he said.

    Another dealer said Bursa gold futures market might track closely the movement of COMEX gold’s Friday close to get direction of the week.

    The local gold market traded higher throughout the holiday shortened week in line with COMEX gold.

    The market was traded half-day on Thursday and closed on Friday for the Chinese New Year celebration.

    On a Thursday-to-Friday basis, February 2018 increased 46 ticks to RM169.40 a gramme, March 2018 rose 37 ticks to RM169.65 a grame, April 2018 jumped 49 ticks to RM170.45 a gramme and May 2018 went up 37 ticks to RM170.20 a gramme respectively.

    Weekly turnover eased to 15 lots worth RM286,365 from last week’s 26 lots valued at RM436,615, while open interest eased slightly to 72 contracts from 75 contracts.

  • Bursa Malaysia expects 2018 to have more IPOs than 2017

    Bursa Malaysia expects 2018 to have more IPOs than 2017

    Bursa Malaysia Bhd, which attracted 13 new listings in 2017, expects to see more companies listed on the Main and ACE Markets this year.

    “The IPO (initial public offering) pipeline seems to be tracking quite well. So we expect that it will probably be slightly higher than last year,” its CEO Datuk Seri Tajuddin Atan said at a media briefing today.

    “And we think some of the big ones is coming,” he added, noting currently there are four registered companies that are still waiting for approval to be listed on the stock exchange.

    Last month, Binasat Communications Bhd, which is involved in the provision of telecommunication supporting services for satellite as well as mobile and fibre optic telecommunications networks, became the first listing for the year.

    Meanwhile, Tajuddin said the stock exchange operator has no plans to increase or reduce the listing fee at the moment, as it looks to introduce incentive or rebate schemes.

    Additionally, he said, the local exchange plans to introduce more products and services this year to create a conducive capital market ecosystem for all market participants.

    “We are still in a process of getting approval and putting things in place. Not only in terms of product, we are also trying to have more players as well as selling agents,” Tajuddin said.

    Going forward, he said the securities market segment is expected to remain resilient, given recent encouraging economic data, the strengthening ringgit and expected positive corporate earnings.

    Trading, however, may be influenced by local and external factors, such as geopolitical developments and the tightening of monetary policies in major economies in 2018, he added.

    On the derivatives market, Tajuddin said volatility in commodity prices and the underlying equity market will continue to affect hedging and trading activities of the crude palm oil futures and FTSE Bursa Malaysia KLCI Futures contracts.

    The local bourse’s net profit rose 10.2% to RM55.27 million for the fourth quarter ended Dec 31, 2017 against RM50.17 million in the previous corresponding period, driven by higher contribution from the securities market.

    Revenue expanded 14.1% from RM123.74 million to RM141.2 million.
    Its full-year net profit rose 15.2% from RM193.62 million to RM223.04 million, with revenue rising 9.9% from RM506.78 million to RM556.83 million.

    For the year under review, securities market trading revenue increased 21.9% to RM259.6 million on the back of higher average daily trading value for securities market on-market trades which grew 27.7% to RM2.3 billion.

    It has declared a second interim dividend of 18.5 sen per share amounting to RM99.4 million for the quarter under review, which will be paid on March 5, 2018.With that, the total dividend (including special dividend) declared for the year amounts to 53.5 sen per share.

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  • Bursa Malaysia rebounds to open higher

    Bursa Malaysia rebounds to open higher

    Bursa Malaysia rebounded from yesterday’s losses to open slightly higher today on renewed buying interest in selected heavyweights, amid a mixed start on regional markets, dealers said.

    At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,824.10, up 2.50 points, from yesterday’s close of 1,821.60.It opened 1.79 points higher at 1,823.39.

    Overall market breadth was slightly positive with gainers leading losers 142 to 121, while 211 counters were unchanged, 1,386 untraded and 33 others suspended.

    Turnover stood at 190.75 million shares worth RM86.95 million.

    Kenanga Research expected the benchmark index to move towards the resistance level of 1,840 points and 1,866 points, while any near-term weakness is likely to be short-term in nature.

    “Immediate support is seen at the psychological level of 1,800 points and 1,793 points next, where investors can look forward to buying on dips,” it said in a research note today.

    Among heavyweights, Maybank was flat at RM9.86, Public Bank slipped two sen to RM20.86, while TNB rose 12 sen to RM15.72, with Petronas Chemicals and CIMB Bank up two sen each to RM8.19 and RM6.82, respectively.

    Of the actives, Sumatec earned half-a-sen to 10 sen, UMW O&G and Perisai Petroleum were flat at 34.5 sen and 6.5 sen, while Sino Hua-An fell one sen to 46 sen.

    The FBM Emas Index was 10.95 points higher at 13,151.05, the FBMT 100 Index rose 10.64 points to 12,815.42, but the FBM 70 shed 9.87 points to 16,374.26.

    The FBM Emas Syariah Index went up 23.80 points to 13,591.17, but the FBM Ace eased 0.95 of-a-point to 6,682.31.

    Sector-wise, the Finance Index improved 5.53 points to 17,195.59 and the Plantation Index declined 10.76 points to 8,058.29, while the Industrial Index advanced 15.03 points to 3,327.68.

    The physical price of gold as at 9.30am stood at RM162.85 per gramme, down 0.61 sen from RM163.46 at 5pm yesterday.

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  • Malaysian stocks likely to inch higher next week

    Malaysian stocks likely to inch higher next week

    Bursa Malaysia is likely to trend higher next week, with the benchmark index inching towards the 1,780-level, supported by positive local economic news and the return of calmness after the sharp drop on Wall Street early last week.

    Affin Hwang Investment Bank Vice-President and Head of Retail Research, Datuk Dr Nazri Khan Adam Khan, said FTSE Bursa Malaysia KLCI (FBM KLCI) maintained its bullishness and stayed in higher territory as equity bulls remained largely unfazed by the increases in the US interest rate.

    “For the year-to-date, FBM KLCI recorded a total gain of 116 points, or 7.1 per cent, signalling more resilience and upside in the near term despite imminent Federal Reserve rate increases and doubts on US President Donald Trump’s fiscal reforms,” he told Bernama.

    On the local news, he said, Prime Minister Datuk Seri Najib Tun Razak’s statement that Malaysia gross domestic product would be higher than 4.2 per cent this year should be supportive for market sentiment.

    Nazri said this showed that the economy was growing more than double the rates the International Monetary Fund had predicted for advanced economies while showing that Malaysia was firmly on the path to become a high-income nation.

    On the technical front, he said, immediate uptrend supports for the index were at 1,700 and 1,730.

    However, a convincing breach above 1,760 resistance would mean that the FBM KLCI would aim for the 1,780 and 1,800 levels.

    On a week-to-week basis, the FBM KLCI increased 0.55 of-a-point to 1,745.75 from 1,745.20 last Friday.

    The FBM Emas Index rose 24.52 points to 12,365.86, FBMT 100 Index was up 20.7 points to 12,017.00 and the FBM Emas Syariah Index gained 45.52 points to 12,772.75.

    On a sectoral basis, the Finance Index added 8.08 points to 15,748.07 and the Industrial Index rose 8.43 points to 3,272.24.

    The Plantation Index was 4.94 points weaker at 8,156.67.

    Weekly turnover surged to 22.23 billion units worth RM15.24 billion from 19.39 billion units worth RM17.22 billion last week.

    Main Market volume narrowed to 14.74 billion shares valued at RM15.16 billion from 15.10 billion shares valued at RM16.53 billion previously.

    Warrant turnover rose to 1.23 billion units worth RM149.62 million from 1.22 billion units worth RM148.94 million last week.

    The ACE Market increased to 5.98 billion shares worth RM897.82 million from 3.0 billion shares worth RM523.39 million previously.

     

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  • Bursa Malaysia opens slightly higher

    Bursa Malaysia opens slightly higher

    Bursa Malaysia opened slightly higher on Tuesday, extending yesterday’s gains but mild profit-taking in selected heavyweights limited the gains, dealers said.

    At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.40 point better at 1,673.08, after opening 1.84 points higher at 1,674.49.

    Gainers outpaced decliners 148 to 64, while 193 counters were unchanged, 1,281 untraded and 26 others suspended.

    Turnover stood at 119.87 million shares worth RM45.70 million.

    In a research note today, RHB Retail Research maintained its bearish short-term outlook for the index, saying buying interest was still weak.

    “The index has not climbed above the recent high of the 1,675.50-point resistance mentioned since two weeks ago.

    “On a technical basis, as long as the bearishness of July 21’s ‘Tower Top’ pattern is not negated, we believe that the sellers still have control of the market,” it said.

    The FBM Emas Index rose 4.97 points to 11,741.69 and the FBMT 100 Index was up 3.61 points at 11,440.04.

    The FBM Emas Syariah Index increased 17.87 points to 12,373.70, the FBM 70 rose 7.46 points to 13,466.39 but the FBM Ace slipped 14.89 points to 5,469.39.

    Sector-wise, the Industrial Index gained 10.13 points to 3,160.24, the Plantation Index rose 6.63 points to 7,680.66 but the Finance Index was 11.95 points lower at 14,335.64.

    Among heavyweights, TNB, Maybank and IHH Healthcare were flat at RM14.58, RM7.98 and RM6.59 respectively, while Public Bank shed two sen to RM19.62.

    Of the actives, MBSB and PDZ Holdings advanced one sen each to 93 sen and 9.5 sen respectively, Konsortium Transnasional went up two sen to 18 sen while Vivocom Intl was flat at 29 sen.

    The physical price of gold as at 9.30am stood at RM167.34 per gramme, up 21 sen from RM167.13 at 5pm yesterday.

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  • Bursa Malaysia expected to trade higher next week

    Bursa Malaysia is likely to trend higher next week on improved sentiment including Bank Negara’s overnight policy rate (OPR) cut, rebound in oil prices, global bank stimulus and a stronger currency.

    Affin Hwang Investment Bank Vice-President and Retail Research Head, Datuk Dr Nazri Khan Adam Khan said the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was ready to stage further upside if the ringgit and commodities continued to strengthen.

    He said the local bourse should be catalysed by Bank Negara’s unexpected move to reduce the OPR to 3.00% from 3.25%.

    “The index should be bullish with the rate cut although the broad market is slow to react.

    “We see the OPR cut as a pre-emptive move to ensure that inflation remains under control and the economy remains on a steady growth path,” he told Bernama.

    This was confirmed by the Malaysian bonds three-year yield which dropped to its lowest level since 2009 and a stronger ringgit which hit a 10-week high against the US dollar this week, he added.

    He said technically, the FBM KLCI had broken out from its consolidation zone and was still looking to test its immediate resistance level at 1,680.

    “Overall, given the buoyant mood coming from global markets as well as positive catalysts in the domestic front, we reckon that the FBM KLCI could be poised to trend upwards this week to break out from its consolidation zone,” said Nazri Khan.

    He said the upside resistance and downside support are now spotted at 1,700/1,680 and 1,650/1,630 levels, respectively.

    On Friday-to-Friday basis, the FBM KLCI rose 23.86 points to 1,668.40 from 1,644.54 recorded last week.

    The FBM Emas Index improved 190.22 points to 11,657.87, the FBMT 100 Index rose 184.2 points to 11,360.08 and the FBM Emas Syariah Index was 208.9 points higher at 12,228.11.

    On a sectoral basis, the Finance Index fell 22.19 points to 14,252.12, the Industrial Index increased 46.35 points to 3,140.55 and the Plantation Index improved 13.94 points to 7,531.31.

    Weekly turnover increased to 8.18 billion units worth RM9.37 billion from 2.87 billion units worth RM3.37 billion last week.

    Main market volume rose to 5.44 billion shares worth RM8.84 billion from 1.95 billion shares valued at RM3.21 billion previously.

    Warrant turnover swelled to 1.22 billion units valued at RM197.75 million from 446.69 million units worth RM75.04 million last week.

    The ACE market increased to 1.49 billion shares worth RM320.29 million from 471.92 million shares valued at RM89.36 million previously.

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  • Bursa Malaysia likely to trade higher next week

    Bursa Malaysia likely to trade higher next week

    Shares on Bursa Malaysia are expected to trade higher next week, supported by positive domestic and regional sentiments.

    Affin Hwang Investment Bank vice-president/head of retail research Datuk Dr Nazri Khan Adam Khan said market has been on an upward trend for the past two months with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) forming a solid psychology level at the 1,7000 level.

    “We have similar upward momentum from our crude palm oil (CPO) and rubber that support the sentiment for next week. “The crude oil price also has stabilised and its recovery to US$43 per barrel, orchestrated well for Bursa Malaysia’s stocks,” he told Bernama.

    Nazri said with China’s trade data remaining positive and solid, it indicated that the country is stabilising.

    The upcoming Sarawak election and the Ecoworld International initial public offering (IPO) will be a domestic catalyst in supporting the local bourse’s sentiment, he added.

    Nazri called on investors to accumulate the “Sarawak election-theme play” counters, namely Naim Holdings and Ta Ann Holdings.

    For the week just ended, the market has been on consolidation mode as expected after the previous week’s rally.

    The FBM KLCI confined in tight range as sentiment turned cautious ahead of a weekend meeting of oil producers.

    Oil producers led by top exporters, Saudi Arabia and Russia are expected to meet in Qatar on Sunday to discuss freezing output to rein in ballooning global over-production.

    On a weekly basis, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished 9.59 points higher at 1,727.99.

    The FBM Emas Index rose 44.53 points to 11,997.07, the FBMT100 Index added 46.74 points to 11,693.21 while the FBM Emas Syariah Index shed 2.27 points to 12,539.76.

    On a sectoral basis, the Finance Index soared 162.16 points to 15,034.70, the Plantation Index trimmed 36.27 points to 7,785.25, while the Industrial Index gained 25.04 points to 3,290.97.

    Weekly turnover leaped to 8.17 billion units valued at RM8.65 billion from 7.78 billion units valued at RM9.60 billion last week.

    Main market volume gained to 5.61 billion shares valued at RM8.21 billion from 5.13 billion shares valued at RM9.16 billion previously.

    Warrant turnover jumped to 997.74 million units valued at RM130.26 million from last week’s 928.94 million units valued at RM130.12 million. The ACE market rose 1.56 billion shares worth RM305.06 million from 1.52 billion shares worth RM307.35 million, transacted previously.

    Gold futures contracts on Bursa Malaysia Derivatives are likely to trade slightly lower next week with the ringgit expected to continue its upward momentum.

    A dealer said the strengthening of the ringgit due to a rally in global oil prices had added pressure on gold.

    “With the equities market set to remain strong and oil prices continuing to edge higher, gold is likely to face continuing pressure,” he said.

    He said the Bursa Malaysia’s gold futures market would also track the performance of the New York Commodity Exchange’s (COMEX) gold market, the price setter for the precious metal.

    On a Friday-to-Friday basis, April 2016 loss 10 ticks to RM154.50 a gramme and July 2016 slipped 17 ticks to RM155 a gramme, while May 2016 increased three ticks to RM155.30 a gramme and June 2016 added seven ticks to RM155.65 a gramme.

    Weekly turnover rose to 151 lots worth RM2.28 million from 99 lots valued at RM1.46 million last week.

    Open interest on Friday widened to 566 contracts from 553 contracts previously.

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