Source: The Star Online
PETALING JAYA: The FTSE Bursa Malaysia KLCI (FBM KLCI) stayed in the red, along with its regional peers, as investors turned wary of the region’s recovery story led by China.
A Bloomberg report said Japan’s economic growth was below some economists’ expectations while foreign direct investment in China fell for the 10th month in July.
Last week, reports showed Chinese exports slowed in July, lending fell and investment growth weakened while Australia’s wage growth stalled due to high unemployment.
At 12.30pm, the Shanghai benchmark index fell almost 1.1%, Nikkei 225 was down 0.5%, Hang Seng Index lost 0.3%, Taiex dropped 2.3%, Kospi fell 0.09% while Singapore’s Straits Times Index was slightly up by 0.04%.
The FBM KLCI was 9.3 points lower at 1,159.7 before the midday break.
Losers led gainers 397 to 131 while 208 counters were unchanged.
Prices of crude palm oil (CPO) futures recovered marginally after yesterday’s losses.
CPO for November delivery rose RM36 per tonne to RM2,371. Oil in electronic trading in Singapore was higher at US$66.87 per barrel.
Plantation stocks, however, saw some selling pressure.
Sime Darby Bhd lost 8 sen to RM8.22, Kuala Lumpur Kepong Bhd dropped 46 sen to RM13.38, PPB Group Bhd fell 16 sen to RM14.92 and IOI Corp Bhd shed 14 sen to RM5.06.
On the gainers list, Adventa Bhd rose 8 sen to RM1.83 and Top Glove Corp Bhd added 9 sen to RM7.15.
OSK Investment Bank, in a report, said across east Asia, markets had rallied to the levels last seen in late 2006 and early 2007, indicating that markets were significantly overvalued and ripe for a retracement.
Corporate results wise, there were more outperformance this season, leading to upward revision in earnings estimates, the research house said.
“While poorer results tend to be held back up to the end, we still believe this results season will see more upgrades than downgrades,” OSK added.
Showing posts with label Bursa Malaysia. Show all posts
Showing posts with label Bursa Malaysia. Show all posts
Tuesday, August 18, 2009
Monday, August 17, 2009
Bursa Shares End Broadly Lower
Source: Bernama.Com
KUALA LUMPUR, Aug 17 (Bernama) -- Share prices on Bursa Malaysia ended lower Monday on continuous selling activities across the board, dealers said.The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) declined 19.52 points to close at 1,169.05, after opening 1.32 points lower at 1,187.25.An analyst said the market was in a correction mode after recent gains with the FBM KLCI reaching the 1,190-point level last week."The downtrend was due to heavy profit taking and there was no fresh catalyst to boost it."The market needs it but I don't think there will be any fresh catalyst in the near-term," said SJ Securities analyst Phua Kwee Hock.He said the decline was also in line with the softer regional markets after the announcement of poor US consumer confidence data recently."The data failed to lift up the market, erasing hopes among investors on the world economic recession," he added.
At the close, the Finance Index went down 194.88 points to 9,455.31, the Plantation Index dipped 127.58 points to 5,939.38 and the Industrial Index decreased 33.22 points to 2,575.83.The FBM Emas Index slipped 162.18 points to 7,899.08, the FBM Top 100 eased 141.40 points to 7,671.14 and the FBM ACE Index declined 89.83 points to 4,216.64.Losers led gainers by 701 to 93 while 111 counters were unchanged and 331 others untraded.Total turnover decreased to 1.023 billion shares worth RM1.435 billion from 1.051 billion shares valued at RM1.556 billion last Friday.Volume leader KNM Group went down 4.5 sen to 75 sen while TA dropped seven sen to RM1.16, MRCB dipped eight sen to RM1.33, Axiata lost 13 sen to RM3.00 and Telekom Malaysia rose a sen to RM3.08.UEM Land slipped seven sen to RM1.56 sen and AirAsia inched down half a sen to RM1.44.Among heavyweights, Sime Darby declined 12 sen to RM8.30, Maybank was 13 sen lower at RM6.47, Bumiputra-Commerce lost 24 sen to RM10.50, Tenaga Nasional dipped three sen to RM8.10 and IOI Corporation was lower by 15 sen at RM5.20.Volume on the Main Market stood at 904.397 million shares worth RM1.414 billion, lower from last Friday's 931,588 million shares worth RM1.536 billion.Tthe ACE Market volume dipped to 72.808 million shares valued at RM11.237 million from 80.976 million shares valued at RM10.643 million.
Warrants, however, rose to 41.008 million units worth RM8.121 million from 34.939 million units worth RM7.967 million.Consumer products accounted for 40.815 million shares traded on the Main Market, industrial products 255.488 million, construction 76.080 million, trade/services 305.317 million, technology 18.790 million, infrastructure 12.012 million, finance 70.503 million, hotels 2.053 million, properties 90.185 million, plantations 32.075 million, mining 53,000, REITs 952,900 and closed/fund 75,300.
KUALA LUMPUR, Aug 17 (Bernama) -- Share prices on Bursa Malaysia ended lower Monday on continuous selling activities across the board, dealers said.The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) declined 19.52 points to close at 1,169.05, after opening 1.32 points lower at 1,187.25.An analyst said the market was in a correction mode after recent gains with the FBM KLCI reaching the 1,190-point level last week."The downtrend was due to heavy profit taking and there was no fresh catalyst to boost it."The market needs it but I don't think there will be any fresh catalyst in the near-term," said SJ Securities analyst Phua Kwee Hock.He said the decline was also in line with the softer regional markets after the announcement of poor US consumer confidence data recently."The data failed to lift up the market, erasing hopes among investors on the world economic recession," he added.
At the close, the Finance Index went down 194.88 points to 9,455.31, the Plantation Index dipped 127.58 points to 5,939.38 and the Industrial Index decreased 33.22 points to 2,575.83.The FBM Emas Index slipped 162.18 points to 7,899.08, the FBM Top 100 eased 141.40 points to 7,671.14 and the FBM ACE Index declined 89.83 points to 4,216.64.Losers led gainers by 701 to 93 while 111 counters were unchanged and 331 others untraded.Total turnover decreased to 1.023 billion shares worth RM1.435 billion from 1.051 billion shares valued at RM1.556 billion last Friday.Volume leader KNM Group went down 4.5 sen to 75 sen while TA dropped seven sen to RM1.16, MRCB dipped eight sen to RM1.33, Axiata lost 13 sen to RM3.00 and Telekom Malaysia rose a sen to RM3.08.UEM Land slipped seven sen to RM1.56 sen and AirAsia inched down half a sen to RM1.44.Among heavyweights, Sime Darby declined 12 sen to RM8.30, Maybank was 13 sen lower at RM6.47, Bumiputra-Commerce lost 24 sen to RM10.50, Tenaga Nasional dipped three sen to RM8.10 and IOI Corporation was lower by 15 sen at RM5.20.Volume on the Main Market stood at 904.397 million shares worth RM1.414 billion, lower from last Friday's 931,588 million shares worth RM1.536 billion.Tthe ACE Market volume dipped to 72.808 million shares valued at RM11.237 million from 80.976 million shares valued at RM10.643 million.
Warrants, however, rose to 41.008 million units worth RM8.121 million from 34.939 million units worth RM7.967 million.Consumer products accounted for 40.815 million shares traded on the Main Market, industrial products 255.488 million, construction 76.080 million, trade/services 305.317 million, technology 18.790 million, infrastructure 12.012 million, finance 70.503 million, hotels 2.053 million, properties 90.185 million, plantations 32.075 million, mining 53,000, REITs 952,900 and closed/fund 75,300.
Sunday, August 9, 2009
Bursa Shares Likely To Be Lower Next Week
Source: Bernama.Com
KUALA LUMPUR, Aug 8 (Bernama) -- Share prices on Bursa Malaysia are expected to be lower next week as investors could go on profit taking after the rally the past few weeks, said an analyst.
"Local investors may re-enter once new market catalysts emerge," he said.
The analyst said one of the factors that could affect investors' decision next week would be the outcome of the US July employment report.
The report, to be released on Friday, would be the firmer evidence that the world's biggest economy has turned the corner.
On technical outlook, the analyst said, "a close above solid technical resistance of 1,200 is what would be needed by the bulls to reach an explosive target."
For the week just ended, the market saw the introduction of FTSE Bursa Malaysia ACE Index on Monday following changes to the MESDAQ Market as an alternative market for emerging companies of all sizes and sectors. It is now called the ACE Market.
The Main Board and Second Board were also merged into a unified board for established companies and is now known as the Main Market.
During the week, the local market sentiment was strong over optimism that the global economic slowdown led by the US has come to an end.
US President Barack Obama said that the US may be seeing the "very beginnings" of the end of the recession as the country was losing jobs at half the rate it was at the beginning of this year.
This sent the FBM Kuala Lumpur Composite Index (FBM KLCI) 9.98 points up to end the week at 1,184.88, although the market was slightly jittery ahead of the US employment report.
The Finance Index rose 133.80 to close the week at 9,689.03, the Plantation Index increased 141.88 points to 5,751.48 and the Industrial Index was 34.87 points higher at 2,610.85.
The FBM Emas Index added 101.20 points to 8,020.99, the FBM Top 100 Index rose 83.70 points to 7,789.75 and the newly introduced FBM ACE Index ended the week at 4,244.55.
Total turnover for the week fell to 4.801 billion shares worth RM7.702 billion from 5.457 billion shares worth RM8.236 billion a week before.
Volume on the Main Market stood at 4.197 billion units worth RM7.572 billion while the ACE Market volume was at 410.409 million units worth RM75.145 million.
The volume of call warrants declined to 167.581 million units worth RM42.159 million from 195.933 million units worth RM40.220 million the previous week.
KUALA LUMPUR, Aug 8 (Bernama) -- Share prices on Bursa Malaysia are expected to be lower next week as investors could go on profit taking after the rally the past few weeks, said an analyst.
"Local investors may re-enter once new market catalysts emerge," he said.
The analyst said one of the factors that could affect investors' decision next week would be the outcome of the US July employment report.
The report, to be released on Friday, would be the firmer evidence that the world's biggest economy has turned the corner.
On technical outlook, the analyst said, "a close above solid technical resistance of 1,200 is what would be needed by the bulls to reach an explosive target."
For the week just ended, the market saw the introduction of FTSE Bursa Malaysia ACE Index on Monday following changes to the MESDAQ Market as an alternative market for emerging companies of all sizes and sectors. It is now called the ACE Market.
The Main Board and Second Board were also merged into a unified board for established companies and is now known as the Main Market.
During the week, the local market sentiment was strong over optimism that the global economic slowdown led by the US has come to an end.
US President Barack Obama said that the US may be seeing the "very beginnings" of the end of the recession as the country was losing jobs at half the rate it was at the beginning of this year.
This sent the FBM Kuala Lumpur Composite Index (FBM KLCI) 9.98 points up to end the week at 1,184.88, although the market was slightly jittery ahead of the US employment report.
The Finance Index rose 133.80 to close the week at 9,689.03, the Plantation Index increased 141.88 points to 5,751.48 and the Industrial Index was 34.87 points higher at 2,610.85.
The FBM Emas Index added 101.20 points to 8,020.99, the FBM Top 100 Index rose 83.70 points to 7,789.75 and the newly introduced FBM ACE Index ended the week at 4,244.55.
Total turnover for the week fell to 4.801 billion shares worth RM7.702 billion from 5.457 billion shares worth RM8.236 billion a week before.
Volume on the Main Market stood at 4.197 billion units worth RM7.572 billion while the ACE Market volume was at 410.409 million units worth RM75.145 million.
The volume of call warrants declined to 167.581 million units worth RM42.159 million from 195.933 million units worth RM40.220 million the previous week.
Wednesday, July 29, 2009
BURSA MALAYSIA: KL Shares Up, Hit New High At Close
Source: Bernama.Com
KUALA LUMPUR, July 28 (Bernama) -- Share prices on Bursa Malaysia ended higher with the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI), hitting a new high Tuesday with interest centred on key heavyweights, especially finance and plantation stocks, dealers said.
At 5.00pm, the FBM KLCI rose 15.95 points to a year high of 1,172.38, after opening 1.4 points higher at 1,157.83. It saw an intra-day high of 1,174.01.
Jupiter Securities head of research, Pong Teng Siew, attributed the gains mainly to the new flush of liquidity in the market.
"The participation in our market came mainly from local investors and some foreign participants," he said, adding that the local stocks still had more room to grow.
Pong expects the resistance level to be between 1,200 and 1,220 in the near term.
"We still have between 30-50 points to go," he said.
The Finance Index soared 105.14 points to 9,512.77, the Plantation Index surged 141.78 points to 5,687.94 and the Industrial Index was 19.63 points higher at 2,565.82.
The FBMEmas Index advanced 103.69 points to 7,905.20, the FBM Top 100 increased 100.83 points to 7,689.37, the FBMMesdaq Index jumped 29.66 points to 4,150.32 and the FBM2BRD Index advance 32.09 points to 5,236.25.
Advancers beat decliners by 492 to 192 while 249 counters were unchanged, 299 untraded and 32 others suspended.
Total volume went up to 1.123 billion shares worth RM1.633 billion from yesterday's 987.228 million shares valued at RM1.215 billion.
Topping the actives, KNM eased one sen to 89.5 sen, Lion Corporation increased 2.5 sen to 52 sen, SAAG Consolidated eased half a sen to 29.5 sen and Genting jumped 12 sen to RM3.
Among heavyweights, Sime Darby increased 25 sen, Maybank and Bumiputra-Commerce jumped 10 sen each to RM6.55 and RM10.20 respectively while Tenaga advanced five sen to RM8.10.
The Main Board volume declined to 933.135 million shares valued at RM1.571 billion from yesterday's 987.228 million shares worth RM1.215 billion.
Turnover on the Second Board eased to 94.278 million shares valued at RM41.503 million from 220.272 million shares worth RM80.632 million yesterday.
The Mesdaq volume decreased to 28.707 million shares valued at RM5.171 million from 33.515 million shares worth RM55.464 million.
Warrants increased to 60.233 million units worth RM12.716 million from 30.311 million worth RM66.130 million previously.
On a sectoral basis, consumer products accounted for 54.241 million shares traded on the Main Board, industrial products 226.592 million, construction 65.542 million, trade/services 324.814 million, technology 14.346 million, infrastructure 26.424 million, finance 80.917 million, hotels 7.108 million, properties 98.397 million, plantations 30.204 million, mining 197,000, REITs 4.093 million and closed/fund 256,600.
KUALA LUMPUR, July 28 (Bernama) -- Share prices on Bursa Malaysia ended higher with the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI), hitting a new high Tuesday with interest centred on key heavyweights, especially finance and plantation stocks, dealers said.
At 5.00pm, the FBM KLCI rose 15.95 points to a year high of 1,172.38, after opening 1.4 points higher at 1,157.83. It saw an intra-day high of 1,174.01.
Jupiter Securities head of research, Pong Teng Siew, attributed the gains mainly to the new flush of liquidity in the market.
"The participation in our market came mainly from local investors and some foreign participants," he said, adding that the local stocks still had more room to grow.
Pong expects the resistance level to be between 1,200 and 1,220 in the near term.
"We still have between 30-50 points to go," he said.
The Finance Index soared 105.14 points to 9,512.77, the Plantation Index surged 141.78 points to 5,687.94 and the Industrial Index was 19.63 points higher at 2,565.82.
The FBMEmas Index advanced 103.69 points to 7,905.20, the FBM Top 100 increased 100.83 points to 7,689.37, the FBMMesdaq Index jumped 29.66 points to 4,150.32 and the FBM2BRD Index advance 32.09 points to 5,236.25.
Advancers beat decliners by 492 to 192 while 249 counters were unchanged, 299 untraded and 32 others suspended.
Total volume went up to 1.123 billion shares worth RM1.633 billion from yesterday's 987.228 million shares valued at RM1.215 billion.
Topping the actives, KNM eased one sen to 89.5 sen, Lion Corporation increased 2.5 sen to 52 sen, SAAG Consolidated eased half a sen to 29.5 sen and Genting jumped 12 sen to RM3.
Among heavyweights, Sime Darby increased 25 sen, Maybank and Bumiputra-Commerce jumped 10 sen each to RM6.55 and RM10.20 respectively while Tenaga advanced five sen to RM8.10.
The Main Board volume declined to 933.135 million shares valued at RM1.571 billion from yesterday's 987.228 million shares worth RM1.215 billion.
Turnover on the Second Board eased to 94.278 million shares valued at RM41.503 million from 220.272 million shares worth RM80.632 million yesterday.
The Mesdaq volume decreased to 28.707 million shares valued at RM5.171 million from 33.515 million shares worth RM55.464 million.
Warrants increased to 60.233 million units worth RM12.716 million from 30.311 million worth RM66.130 million previously.
On a sectoral basis, consumer products accounted for 54.241 million shares traded on the Main Board, industrial products 226.592 million, construction 65.542 million, trade/services 324.814 million, technology 14.346 million, infrastructure 26.424 million, finance 80.917 million, hotels 7.108 million, properties 98.397 million, plantations 30.204 million, mining 197,000, REITs 4.093 million and closed/fund 256,600.
Friday, July 24, 2009
Bursa reduces tick size to boost market liquidity
Source: The Star Online
KUALA LUMPUR: Bursa Malaysia has reduced the structure of tick size or the minimum price variation between the buy and sell price for a stock, effective Aug 3.
In a statement yesterday, it said the tick size was reduced in line with the current practice by global developed markets and more importantly, to create market depth, enable price discovery and boost liquidity in the local equities market.
“Investors rely on information such as tick sizes to estimate future movement of a counter’s share price as well as form a gauge of market sentiment,” Bursa Malaysia Bhd chief executive officer Datuk Yusli Mohamed Yusoff said.
He said the exchange anticipated this reduction of tick size would broaden participation from investors who were poised to provide more liquidity to the local market as investors could enter and exit the market more easily.
In addition, the smaller tick size would enable investors and traders to take advantage of more trading opportunities with each price movement, however small.
“This is more evident with the advent of electronic access or Direct Market Access infrastructure which operates efficiently with smaller tick sizes,” Yusli said.
To investors, this revised tick size structure means that the minimum price change of listed securities is now smaller.
For example, currently, a RM5.10 stock is quoted in multiples of five sen which means that the next tick up is RM5.15 and the next tick down is RM5.05.
With the new tick sizes, investors can now quote in multiples of one sen, which will now see a RM5.10 stock go up to the next tick which is RM5.11 or next tick down, which is RM5.09.
Bursa said the equity exchange-traded funds (ETFs) would also benefit from the change. Currently, these ETFs have a tick size of one sen regardless of any price. In future, any ETFs below RM1 will have a tick size of 0.1 sen and ETFs that are priced between RM1 and RM2.995 will have a tick size of 0.5 sen.
For ETFs priced at RM3 and above, the new tick size will be one sen. Meanwhile, the bond ETF maintains its tick size of 0.1 sen. As to the bidding price for buying-in, Bursa said it would retain the 10 ticks.
Arising from this, the buying-in price would be based on the current tick sizes instead of the new tick sizes to ensure that the buying-in price was attractive to potential sellers, it added. — Bernama
KUALA LUMPUR: Bursa Malaysia has reduced the structure of tick size or the minimum price variation between the buy and sell price for a stock, effective Aug 3.
In a statement yesterday, it said the tick size was reduced in line with the current practice by global developed markets and more importantly, to create market depth, enable price discovery and boost liquidity in the local equities market.
“Investors rely on information such as tick sizes to estimate future movement of a counter’s share price as well as form a gauge of market sentiment,” Bursa Malaysia Bhd chief executive officer Datuk Yusli Mohamed Yusoff said.
He said the exchange anticipated this reduction of tick size would broaden participation from investors who were poised to provide more liquidity to the local market as investors could enter and exit the market more easily.
In addition, the smaller tick size would enable investors and traders to take advantage of more trading opportunities with each price movement, however small.
“This is more evident with the advent of electronic access or Direct Market Access infrastructure which operates efficiently with smaller tick sizes,” Yusli said.
To investors, this revised tick size structure means that the minimum price change of listed securities is now smaller.
For example, currently, a RM5.10 stock is quoted in multiples of five sen which means that the next tick up is RM5.15 and the next tick down is RM5.05.
With the new tick sizes, investors can now quote in multiples of one sen, which will now see a RM5.10 stock go up to the next tick which is RM5.11 or next tick down, which is RM5.09.
Bursa said the equity exchange-traded funds (ETFs) would also benefit from the change. Currently, these ETFs have a tick size of one sen regardless of any price. In future, any ETFs below RM1 will have a tick size of 0.1 sen and ETFs that are priced between RM1 and RM2.995 will have a tick size of 0.5 sen.
For ETFs priced at RM3 and above, the new tick size will be one sen. Meanwhile, the bond ETF maintains its tick size of 0.1 sen. As to the bidding price for buying-in, Bursa said it would retain the 10 ticks.
Arising from this, the buying-in price would be based on the current tick sizes instead of the new tick sizes to ensure that the buying-in price was attractive to potential sellers, it added. — Bernama
Wednesday, July 22, 2009
Bursa Malaysia Aims for 40 Listings a Year, CEO Yusli Says
By Chan Tien Hin
July 21 (Bloomberg) -- Bursa Malaysia Bhd., operator of the nation’s exchange, said it aims to attract as many as 40 new listings a year as the easing of investment rules in the country helps draw foreign investors.
Bursa attracted 23 listings last year and 26 in 2007, down from 40 three years ago, according to its Web site. Only one sold shares for the first time in the first half, it added.
“Over the next six months, if we get the same number as last year, that will be good,” Yusli Yusoff, Bursa’s chief executive officer, said in an interview in Kuala Lumpur. “I don’t see why we can’t continue the momentum, I’ve always said that in any year, we should be looking at 30 to 40 companies.”
Malaysian Prime Minister Najib Razak last month eased investment rules governing initial public offerings and takeovers, scrapping the need for overseas companies and publicly traded Malaysian businesses to set aside 30 percent of their equity to local ethnic Malay investors.
Najib, who took office in April, is overhauling the Southeast Asian nation’s financial markets to attract investors and revive an economy that’s facing its first contraction in a decade. The benchmark FTSE Bursa Malaysia KLCI has risen 30 percent this year, lagging behind regional markets.
The measure’s gap with Southeast Asian indexes may widen. Macquarie Group Ltd. said in a report today that investors should “take profit” in Malaysian stocks as “liquidity and earnings upgrades are showing signs of fatigue.”
‘Big Ones’
Bursa said more than 20 companies are already in the “pipeline” for initial share sales, including a handful of businesses from China, with more expected following the easing of investment rules.
“We expect companies who previously may not have wanted to come to the market because of this condition to now come forward,” Yusli said today. “I want some big ones this year.”
The bourse said discussions with Southeast Asia’s stock exchanges to develop an electronic trading link connecting five markets in the next two to three years are at a “fairly advanced stage.”
Southeast Asia’s stock exchanges signed a preliminary agreement on Feb. 23 to develop a trading link to boost competitiveness and lure more overseas funds into the region.
July 21 (Bloomberg) -- Bursa Malaysia Bhd., operator of the nation’s exchange, said it aims to attract as many as 40 new listings a year as the easing of investment rules in the country helps draw foreign investors.
Bursa attracted 23 listings last year and 26 in 2007, down from 40 three years ago, according to its Web site. Only one sold shares for the first time in the first half, it added.
“Over the next six months, if we get the same number as last year, that will be good,” Yusli Yusoff, Bursa’s chief executive officer, said in an interview in Kuala Lumpur. “I don’t see why we can’t continue the momentum, I’ve always said that in any year, we should be looking at 30 to 40 companies.”
Malaysian Prime Minister Najib Razak last month eased investment rules governing initial public offerings and takeovers, scrapping the need for overseas companies and publicly traded Malaysian businesses to set aside 30 percent of their equity to local ethnic Malay investors.
Najib, who took office in April, is overhauling the Southeast Asian nation’s financial markets to attract investors and revive an economy that’s facing its first contraction in a decade. The benchmark FTSE Bursa Malaysia KLCI has risen 30 percent this year, lagging behind regional markets.
The measure’s gap with Southeast Asian indexes may widen. Macquarie Group Ltd. said in a report today that investors should “take profit” in Malaysian stocks as “liquidity and earnings upgrades are showing signs of fatigue.”
‘Big Ones’
Bursa said more than 20 companies are already in the “pipeline” for initial share sales, including a handful of businesses from China, with more expected following the easing of investment rules.
“We expect companies who previously may not have wanted to come to the market because of this condition to now come forward,” Yusli said today. “I want some big ones this year.”
The bourse said discussions with Southeast Asia’s stock exchanges to develop an electronic trading link connecting five markets in the next two to three years are at a “fairly advanced stage.”
Southeast Asia’s stock exchanges signed a preliminary agreement on Feb. 23 to develop a trading link to boost competitiveness and lure more overseas funds into the region.
Monday, July 20, 2009
Bursa Malaysia Q2 net profit up 22.3 pct
Source: Reuters (Reporting by David Chance, editing by Niluksi Koswanage)
KUALA LUMPUR, July 20 (Reuters) - Malaysia's stock market owner, Bursa Malaysia (BMYS.KL) saw its second quarter net profit rise 22.3 percent to 35.02 million ringgit ($9.83 million) from 28.64 million ringgit a year ago.
The company said in a statement on Monday that revenues rose to 94.58 million ringgit from 85.67 million.
For the first half of the year, net profit was 50.52 million ringgit, down from 70.71 million.
It is to pay a dividend of 10.1 sen per share for the second quarter, down from 16.50 sen a year ago.
KUALA LUMPUR, July 20 (Reuters) - Malaysia's stock market owner, Bursa Malaysia (BMYS.KL) saw its second quarter net profit rise 22.3 percent to 35.02 million ringgit ($9.83 million) from 28.64 million ringgit a year ago.
The company said in a statement on Monday that revenues rose to 94.58 million ringgit from 85.67 million.
For the first half of the year, net profit was 50.52 million ringgit, down from 70.71 million.
It is to pay a dividend of 10.1 sen per share for the second quarter, down from 16.50 sen a year ago.
Friday, July 17, 2009
BURSA MALAYSIA: Bursa Shares Close Firmer
Sources: Bernama Online (17th July 2009)
KUALA LUMPUR, July 17 (Bernama) -- Share prices on Bursa Malaysia closed firmer today as strong buying in key bluechips parried off mild selling pressure.
At the end of trade, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) was 12.02 points or 1.08 percent higher at 1,120.90 after hitting an intra-day low of 1,103.85.
It had opened higher at 1,112.51 following the encouraging overnight close in Wall Street and positive economic numbers abroad, dealers said.
They said the benchmark index slipped into the red briefly in the morning due to profit taking activities, and recovered and stayed in the positive territory until the closing bell, lifted by Maybank, Bumiputra-Commerce, Tenaga Nasional and Gamuda.
The Finance Index climbed 124.17 points to 9,136.79, the Plantation Index advanced 24.52 points to 5,404.40 and the Industrial Index was 2.69 points higher at 2,426.00.
The FBMEmas Index gained 67.09 points to 7,550.78, the FBM Top 100 went up 72.94 points to 7,353.23 and the FBMMesdaq Index increased 47.56 points to 4,077.68.
However, the FBM2BRD Index went down 12.77 points to 4,842.37.
Advancers led decliners by 295 to 277 while 276 counters were unchanged, 385 untraded and 35 others suspended.
Total volume decreased to 939.341 million shares worth RM1.453 billion from 1.666 billion shares valued at RM2.139 billion Thursday.
"The local bourse is still heading up despite the bombing news in Indonesia," a dealer said.
There was strong buying support from local funds in the bluechips which helped lift the key index, he added.
Another dealer said that it was possible for the FBM KLCI that had successfully crossed above the 1,100-point level, to continue its upward trend next week.
However, he said, the market that had advanced nearly 60 points over the past four trading days, would probably need to consolidate before scaling for greater heights.
Topping the actives, KNM Group edged up 2.5 sen to 82.5 sen while SAAG Consolidated eased three sen to 25 sen and
Jaks Resources shed half a sen to 90 sen.
Axiata Group advanced one sen to RM2.86 and UEM Land was up two sen to RM1.64.
Gamuda and Kumpulan Perangsang registered steady gains earlier after their associate company, Syarikat Pengeluar Air Selangor Sdn Bhd, received a third offer from the Selangor government under the proposed takeover of the state's water-related assets.
At the close, Gamuda was nine sen higher at RM3.06 but Kumpulan Perangsang edged down one sen to RM2.06 on profit taking.
Among heavyweights, Maybank rose 15 sen to RM6.10, Bumiputra-Commerce added 25 sen to RM9.95 and Tenaga Nasional gained 20 sen to RM8.20.
The Main Board volume fell to 838.871 million shares worth RM1.425 billion compared with Thursday's closing of 1.398 billion shares worth RM2.076 billion.
Turnover on the Second Board also declined to 27.660 million shares worth RM13.039 million from 95.502 million shares worth RM35.648 million yesterday.
The Mesdaq volume dropped to 40.427 million shares worth RM7.021 million from 96.420 million shares worth RM13.654 million.
Warrants went down to 35.221 million shares worth RM7.334 million from 72.538 million shares worth RM11.887 million.
On sectoral basis, consumer products accounted for 22.041 million shares traded on the Main Board, industrial products 187.053 million, construction 90.516 million, trade/services 335.519 million, technology 7.202 million, infrastructure 14.391 million, finance 51.286 million, hotels 1.968 million, properties 107.736 million, plantations 13.356 million, mining 249,500, REITs 2.528 million and closed/fund 27,000.
KUALA LUMPUR, July 17 (Bernama) -- Share prices on Bursa Malaysia closed firmer today as strong buying in key bluechips parried off mild selling pressure.
At the end of trade, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) was 12.02 points or 1.08 percent higher at 1,120.90 after hitting an intra-day low of 1,103.85.
It had opened higher at 1,112.51 following the encouraging overnight close in Wall Street and positive economic numbers abroad, dealers said.
They said the benchmark index slipped into the red briefly in the morning due to profit taking activities, and recovered and stayed in the positive territory until the closing bell, lifted by Maybank, Bumiputra-Commerce, Tenaga Nasional and Gamuda.
The Finance Index climbed 124.17 points to 9,136.79, the Plantation Index advanced 24.52 points to 5,404.40 and the Industrial Index was 2.69 points higher at 2,426.00.
The FBMEmas Index gained 67.09 points to 7,550.78, the FBM Top 100 went up 72.94 points to 7,353.23 and the FBMMesdaq Index increased 47.56 points to 4,077.68.
However, the FBM2BRD Index went down 12.77 points to 4,842.37.
Advancers led decliners by 295 to 277 while 276 counters were unchanged, 385 untraded and 35 others suspended.
Total volume decreased to 939.341 million shares worth RM1.453 billion from 1.666 billion shares valued at RM2.139 billion Thursday.
"The local bourse is still heading up despite the bombing news in Indonesia," a dealer said.
There was strong buying support from local funds in the bluechips which helped lift the key index, he added.
Another dealer said that it was possible for the FBM KLCI that had successfully crossed above the 1,100-point level, to continue its upward trend next week.
However, he said, the market that had advanced nearly 60 points over the past four trading days, would probably need to consolidate before scaling for greater heights.
Topping the actives, KNM Group edged up 2.5 sen to 82.5 sen while SAAG Consolidated eased three sen to 25 sen and
Jaks Resources shed half a sen to 90 sen.
Axiata Group advanced one sen to RM2.86 and UEM Land was up two sen to RM1.64.
Gamuda and Kumpulan Perangsang registered steady gains earlier after their associate company, Syarikat Pengeluar Air Selangor Sdn Bhd, received a third offer from the Selangor government under the proposed takeover of the state's water-related assets.
At the close, Gamuda was nine sen higher at RM3.06 but Kumpulan Perangsang edged down one sen to RM2.06 on profit taking.
Among heavyweights, Maybank rose 15 sen to RM6.10, Bumiputra-Commerce added 25 sen to RM9.95 and Tenaga Nasional gained 20 sen to RM8.20.
The Main Board volume fell to 838.871 million shares worth RM1.425 billion compared with Thursday's closing of 1.398 billion shares worth RM2.076 billion.
Turnover on the Second Board also declined to 27.660 million shares worth RM13.039 million from 95.502 million shares worth RM35.648 million yesterday.
The Mesdaq volume dropped to 40.427 million shares worth RM7.021 million from 96.420 million shares worth RM13.654 million.
Warrants went down to 35.221 million shares worth RM7.334 million from 72.538 million shares worth RM11.887 million.
On sectoral basis, consumer products accounted for 22.041 million shares traded on the Main Board, industrial products 187.053 million, construction 90.516 million, trade/services 335.519 million, technology 7.202 million, infrastructure 14.391 million, finance 51.286 million, hotels 1.968 million, properties 107.736 million, plantations 13.356 million, mining 249,500, REITs 2.528 million and closed/fund 27,000.
Malaysia’s Economy May Shrink 4.2%
Sources: Bloomberg (Soraya Permatasari) 16th July 2009
July 16 (Bloomberg) -- Malaysia’s economy may shrink more than previously forecast this year as the global recession reduces exports and household spending, the Malaysian Institute of Economic Research said.
Southeast Asia’s third-largest economy will probably contract 4.2 percent in 2009, the institute said in a report released in Kuala Lumpur today, cutting its forecast from an April prediction for a 2.2 percent decline in gross domestic product. It lowered the 2010 growth forecast to 2.8 percent from 3.3 percent.
The country “takes the hit from the knock-on effects of a flagging global economy,” the institute said. “Malaysia may not regain more strength until the global economy is back on track, which is going to be at a disappointingly slow pace.”
Prime Minister Najib Razak has unveiled 67 billion ringgit ($19 billion) of stimulus measures and eased foreign investment rules to shore up growth as plunging exports push the nation closer to its first recession in a decade. The government cut its 2009 GDP forecast in May, predicting a contraction of 4 percent to 5 percent.
Exports of goods and services may plunge 21.8 percent this year before growing 7.3 percent in 2010, the partially government-funded research institute predicts. Inflation may average 1.6 percent in 2009 and unemployment may reach 4.8 percent, it said.
Recession Looms
“If exports and foreign direct investment shrink severely, the downturn could be more damaging,” the institute said. “The healing from the current crisis will be difficult compared to previous ones, because of the synchronized nature of the downturn.”
The institute expects Malaysia will fall into a recession after contracting for a second quarter in the three months to June. GDP may contract 6 percent in the second quarter, shrink 4 percent in the third and expand 2 percent in the last three months of 2009, Ariff said.
The $187 billion economy shrank 6.2 percent in the first quarter of 2009, and second-quarter GDP data is due in August.
The ringgit, the worst performer among the 10 most-traded Asian currencies excluding the yen this year, fell 0.1 percent to 3.5663 as at 10:17 a.m. local time today.
The currency has been hurt by declining exports and will remain “volatile” until the global economy recovers, Mohamed Ariff Kareem, the institute’s executive director, told reporters in Kuala Lumpur today. The ringgit may strengthen to 3.4 to 3.5 against the dollar by the end of 2009 and 3 a dollar by 2012, he said, adding that the U.S. currency is “overvalued.”
Interest Rates
Malaysia’s central bank has kept its benchmark interest rate unchanged for two straight meetings after reducing borrowing costs 1.5 percentage points to 2 percent from November to February, saying the economy may improve in the coming months as the government implements stimulus measures.
There’s no urgent need for Bank Negara Malaysia to further reduce interest rates, though there is space to cut, Ariff said. Deflation, while possible, isn’t yet a threat for the country, he said.
An improvement in exports and the government’s measures to boost the economy will help the economy grow in the fourth quarter, he said. The budget deficit may exceed 8 percent of GDP this year and reach as much as 9 percent in 2010, he estimated.
The 2010 shortfall “will probably be bigger because this crisis isn’t going away anytime soon,” Ariff said. “2010 will still be a difficult year” and the government may need to boost spending to support growth.
Confidence Improves
The institute’s consumer sentiment index rose 26.9 points to 105.8 in the second quarter from the previous three months, helped by the government’s stimulus measures. The business confidence index climbed 44.1 points to 105.2.
Private consumption is expected to “moderate” in 2009 “owing to the reduction in income, a dismal labor market, a volatile stock market and lower commodity prices,” the institute said. “There will be some lag before the effects of the fiscal spending are felt, making the speed and efficiency of implementation critical.”
Wednesday, July 15, 2009
BURSA MALAYSIA: KL Shares Up As Wall Street Rallies
Souces: Bernama.Com
KUALA LUMPUR, July 14 (Bernama) -- Share prices on Bursa Malaysia ended firmer Tuesday on technical rebound with finance stocks among the major gainers, as the overnight rally on Wall Street helped to boost market sentiment locally, dealers said.
The benchmark FTSE Bursa Malaysia KLCI rose 15.97 points or 1.50 percent to close at 1,079.63, off its trading low of 1,063.66. The key index had opened unchanged at 1,063.66.
In lifting the key index, Bumiputra-Commerce and Public Bank climbed 30 sen each to RM9.50 and RM9.70 respectively while Hong Leong Financial Group added 19 sen to RM5.05.
"The local bourse gains were in tandem with the Wall Street rally overnight which was driven by hopes of positive banks' earnings," one of the dealers said.
The Finance Index surged 179.42 points to 8,698.48, the Industrial Index climbed 6.88 points to 2,374.37 and the Plantation Index advanced 76.24 points to 5,317.57.
The FBMEmas Index went up 116.61 points to 7,280.00, the FBM Top 100 perked 105.56 points to 7,083.76, the FBM2BRD Index gained 46.76 points to 4,744.95 and the FBMMesdaq Index was 140.05 points higher at 3,980.57.
Gainers outnumbered losers by 500 to 128 while 156 counters were unchanged, 448 untraded and 36 others suspended.
Overall volume today came to 788.982 million shares worth RM1.106 billion shares, up from Monday's 550.844 million shares valued at RM841.033 million.
The dealer said the encouraging gain on Wall Street could be the ammunition needed by the regional market, including the local bourse especially after the recent slump.
Nevertheless, he said the Wall Street gain was only a temporary support as the market was fundamentally still weak amid concerns over the global economic recovery.
"There are still many technical indicators that support an easier trend on the stock market through this third quarter, which is historically a weak quarter," he added.
For the actives list, Frontken Corporation edged up one sen to 26.5 sen, EP Manufacturing perked 1.5 sen to 28.5 sen, Genting Malaysia-GH was unchanged at five sen, Glomac rose 6.5 sen to 86.5 sen and Sunway Holdings gained two sen to RM1.15.
Among heavyweights, Kulim surged 45 sen to RM6.85 while Maybank and Tenaga rose five sen each to RM5.65 and RM7.90 respectively.
The Main Board volume increased to 650.771 million shares worth RM1.067 billion versus 456.549 million shares worth RM809.654 million on Monday.
Turnover on the Second Board also advanced to 41.344 million shares worth RM19.302 million from 31.715 million shares worth RM16.983 million previously.
The Mesdaq volume rose to 63.571 million shares worth RM13.808 million from 44.612 million shares worth RM9.676 million.
Warrants went up to 30.667 million worth RM3.921 million from 11.501 million units worth RM1.931 million yesterday.
On a sectoral basis, consumer products accounted for 24.564 million shares traded on the Main Board, industrial products 127.621 million, construction 43.156 million, trade/services 215.862 million, technology 9.340 million, infrastructure 18.223 million, finance 43.825 million, hotels 799,000, properties 145.301 million, plantations 19.446 million, mining 1,000, REITs 2.618 million and closed/fund 16,000.
KUALA LUMPUR, July 14 (Bernama) -- Share prices on Bursa Malaysia ended firmer Tuesday on technical rebound with finance stocks among the major gainers, as the overnight rally on Wall Street helped to boost market sentiment locally, dealers said.
The benchmark FTSE Bursa Malaysia KLCI rose 15.97 points or 1.50 percent to close at 1,079.63, off its trading low of 1,063.66. The key index had opened unchanged at 1,063.66.
In lifting the key index, Bumiputra-Commerce and Public Bank climbed 30 sen each to RM9.50 and RM9.70 respectively while Hong Leong Financial Group added 19 sen to RM5.05.
"The local bourse gains were in tandem with the Wall Street rally overnight which was driven by hopes of positive banks' earnings," one of the dealers said.
The Finance Index surged 179.42 points to 8,698.48, the Industrial Index climbed 6.88 points to 2,374.37 and the Plantation Index advanced 76.24 points to 5,317.57.
The FBMEmas Index went up 116.61 points to 7,280.00, the FBM Top 100 perked 105.56 points to 7,083.76, the FBM2BRD Index gained 46.76 points to 4,744.95 and the FBMMesdaq Index was 140.05 points higher at 3,980.57.
Gainers outnumbered losers by 500 to 128 while 156 counters were unchanged, 448 untraded and 36 others suspended.
Overall volume today came to 788.982 million shares worth RM1.106 billion shares, up from Monday's 550.844 million shares valued at RM841.033 million.
The dealer said the encouraging gain on Wall Street could be the ammunition needed by the regional market, including the local bourse especially after the recent slump.
Nevertheless, he said the Wall Street gain was only a temporary support as the market was fundamentally still weak amid concerns over the global economic recovery.
"There are still many technical indicators that support an easier trend on the stock market through this third quarter, which is historically a weak quarter," he added.
For the actives list, Frontken Corporation edged up one sen to 26.5 sen, EP Manufacturing perked 1.5 sen to 28.5 sen, Genting Malaysia-GH was unchanged at five sen, Glomac rose 6.5 sen to 86.5 sen and Sunway Holdings gained two sen to RM1.15.
Among heavyweights, Kulim surged 45 sen to RM6.85 while Maybank and Tenaga rose five sen each to RM5.65 and RM7.90 respectively.
The Main Board volume increased to 650.771 million shares worth RM1.067 billion versus 456.549 million shares worth RM809.654 million on Monday.
Turnover on the Second Board also advanced to 41.344 million shares worth RM19.302 million from 31.715 million shares worth RM16.983 million previously.
The Mesdaq volume rose to 63.571 million shares worth RM13.808 million from 44.612 million shares worth RM9.676 million.
Warrants went up to 30.667 million worth RM3.921 million from 11.501 million units worth RM1.931 million yesterday.
On a sectoral basis, consumer products accounted for 24.564 million shares traded on the Main Board, industrial products 127.621 million, construction 43.156 million, trade/services 215.862 million, technology 9.340 million, infrastructure 18.223 million, finance 43.825 million, hotels 799,000, properties 145.301 million, plantations 19.446 million, mining 1,000, REITs 2.618 million and closed/fund 16,000.
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