At 9.05am, the FBM KLCI was down 9.45 points to 1,520.99, tracking the weak performance on Wall Street overnight.
The early-morning selling dampened hopes of continued bargain-hunting amid the government's gradual reopening of the economy, although there remains opportunity for prices to bounce higher later in the day.
"A mild extension of the rebound might take place in selected sectors as the government proposed three more destinations to be opened via domestic tourism bubble on the back of reducing active Covid-19 cases," said Malacca Securities Research in a note.
It said recovery theme sectors suRead More »
KUALA LUMPUR: Shares on Bursa Malaysia rose in see-saw trade on Tuesday as investors picked up bargains, although market sentiment remained fragile.
The FBM KLCI closed up 2.55 points, or 0.17% to 1,530.44. It has risen to an intraday high of 1,533.11.
Broader market sentiment remained weak, with 538 losers outpacing 436 gainers and 469 counters which traded unchanged. Turnover was at 4.71 billion shares valued at RM2.86bil.
Dealers said market sentiment remained fragile on worries about the impact of debt troubles at China Evergrande loomed. They added that investors should use the latest bout of market weakness to accumulate battered stocks.
Investors are also nervous ahead of the Federal Reserve's policy meeting this week.
Reuters reported that Hong Kong’s Hang Seng index, which sank in the morning trade to itsRead More »
KUALA LUMPUR: Bursa Malaysia finished marginally lower at midday as cautious sentiment weighed on buying patterns amid the absence of market-moving factors.
At 12.30pm, the benchmark FBM KLCI finished at 1,527.76, down 0.13 of-a-point, after fluctuating between 1,533.11 and 1,521.44.
In the broader market, decliners outnumbered gainers 602 to 283 while 444 counters were unchanged. Turnover stood at 2.41 billion shares worth RM1.47bil.
Overnight, the Dow Jones Industrial Average fell 1.78%, to 33,970.47, the S&P 500 lost 1.70%, to 4,357.73 and the Nasdaq Composite dropped 2.19%, to 14,713.90.
TA Securities said the local market correction should extend on spillover losses from the US and regional markets, and pending more clarity on the earnings impact from potential interest-free loan moratoriums for banks and profit winRead More »
The Chinese property giant has amassed debts of US$300bil and is facing deadlines for payments to banks and bondholders this week.
A potential default, according to analysts, will likely contribute to China's economic deceleration and derail global growth and inflation. Commodity prices are also expected to be negatively impacted.
Fears over a fallout are growing and affecting global investor sentiment. Bursa Malaysia, which had seen a return of foreign investors of late, recorded a second straight day of net foreign selling yesterday, to the tune of RM120.8mil.
At 9.05am, the FBM KLCI was down 6.34 points, putting the market on track toRead More »
KUALA LUMPUR: The FBM KLCI ended the day in red, dampened by across-the-board selling, bucking regional gains.
At closing, the 30-stock index tumbled 20.62 points, or 1.33% to 1,527.89 after moving between 1,547.67 and 1,526.90.
Market breadth was negative as decliners overpowered gainers on a ratio of 951-to-194 stocks. About 4.68 billion shares, valued at RM2.90bil, changed hands.
Dealers said the market may be turning oversold soon and likely to expect bargain hunting activities to emerge.
In today’s session, only three of the KLCI-component stocks closed higher while 23 counters traded lower and four counters remained unchanged.
Maybank rose five sen to RM8.30, Axiata added four sen to RM3.95 and Petronas Chemicals climbed one sen to RM7.95.
Key losers on the FBM KLCI were Petronas Gas, down 52 sen to RRead More »
The benchmark index started on a slide, losing 0.89 point to 1,547.62 at the opening bell before turning lower.
At 9.05am, the FBM KLCI was down 4.07 points to 1,544.44.
The downtrend on Bursa Malaysia comes despite a return of foreign investors to the local market. Over the four trading days of the previous week, foreign funds recorded a net weekly inflow of RM126mil.
Local retailers registered net buying of RM212mil while domestic institutions net sold RM338mil in local equities.
After three straight weeks of losses, the market remains on shaky ground.
"There may still be some more downside risk ahead with the bears currently outnumbering the bulRead More »
KUALA LUMPUR: Bursa Malaysia saw a follow through selling pressure on Friday, pushing the benchmark index lower.
The FBM KLCI closed down 6.75 points, or 0.43% to 1,548.51. For the week, the benchmark index fell 1.74%.
Broader market sentiment was weak, with 620 losers outpacing 470 gainers and 412 counters which traded unchanged. Turnover was at 5.12 billion shares valued at RM4.18bil.
In today’s session, 21 of the KLCI-component stocks closed lower while nine counters chalked up gains.
Dealers said market sentiment was still affected by the heavy sell-off early this week and buying interest today’s was interspersed with profit-taking.
On Bursa Malaysia, Genetec was the top gainer, jumping 84 sen to RM36.02, followed by F&N,Read More »
At 9.05am, country's benchmark index was up 0.8 points to 1,556.06.
After a decline over five straight sessions, the market appears due for a rebound amid an inflow of foreign funds.
Month-to-date foreign investors have recorded a net purchase of RM904.6mil in local equities, suggesting that the relaxation of the country's SOPs under the National Recovery Plan has rekindled foreign participation on the stock exchange.
On Wednesday, offshore funds were net buyers of RM76.9mil in Bursa equities. Local retailers recorded RM7mil net purchases while local institutions net sold RM83.9mil.
From a technical standpoint, Malacca Securities Research suggested the market was turning more negative as the daily movingRead More »
Friday, 9 September 2016 KUALA LUMPUR: Khazanah Nasional Bhd disposed of 82 million shares of Tenaga Nasional Bhd for a total of RM1.17bil, stock market data showed on Friday. The block of shares were divested by the sovereign wealth fund at RM14.30 each, down 26 sen from Thursday’s closing price …Read More »
Wednesday, 13 July 2016 KUALA LUMPUR: Blue chips climbed in early Wednesday trade, led by gains in KL Kepong, MAHB and UMW but the advanced was held in check by profit taking o Tenaga Nasional and Petronas-linked stocks. At 9.45am, the FBM KLCI was up 2.05 points or 0.12% …Read More »