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Tuesday, September 29, 2015

Malaysia: Shares open lower on Tuesday

bursa malaysia stockMALAYSIA share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 7.54 points to 1600.89.

Volume was 45.4 million lots worth RM26.3 million.
Losers outnumbered gainers 140 to 39.

Monday, September 28, 2015

Malaysia: Shares open lower on Monday

bursa malaysia.jpgMALAYSIA share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 1.60 points to 1612.52.



Volume was 30.8 million lots worth RM10.5 million.
Gainers outnumbered losers 82 to 52.

Friday, September 25, 2015

Malaysia: Shares open lower on Friday

MALAYSIA.jpgMALAYSIA share prices opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 8.89 points to 1604.15.


Volume was 73.2 million lots worth RM43.3 million. Losers outnumbered gainers 128 to 75.

Thursday, September 24, 2015

China: Stocks rise in thin turnover as technology shares rally

china stock marketChina's benchmark stock index rose for the fourth time in five days amid speculation President Xi Jinping's state visit to the US will help technology and industrial companies boost exports to 9offset a slowing economy.
 
The Shanghai Composite Index gained 0.9 per cent to 3,143.18 at the close. Eight stocks climbed for every one that fell as trading volumes slumped 42 per cent below the 30-day average before the start of a week-long holiday from next week. Avic Aviation Engine Corp surged 5.8 per cent after Boeing Co unveiled its largest industrial investment in China. The Hang Seng China Enterprises Index slipped 1 per cent in Hong Kong, sending the mainland premium against so-called H shares to the highest level in two weeks.

Wednesday, September 23, 2015

Ringgit declines with stocks and bonds as China slows further

Malaysia's ringgit slid along with stocks and bonds as a measure of factory output in China added to signs Asia's largest economy is slowing, spurring demand for the relative safety of the dollar.
 
ringgit.jpgEmerging-market assets have been under pressure since the Federal Reserve cited China concerns as a reason for refraining from raising interest rates last week. A measure of the Asian nation's manufacturing fell to six-year low, according to a preliminary Purchasing Managers' Index released Wednesday. 

That further dimmed the outlook for Malaysia's biggest trading partner, just as new probes into state investment company 1Malaysia Development Bhd. and the prime minister are once again hurting the ringgit.

Malaysia inflation picks up in August, slightly above forecast

Malaysia inflationMalaysia's consumer price index in August edged up to 3.1 per cent from a year earlier due to sustained price increases in household expenses despite lower fuel costs, data showed on Wednesday.
 
Inflation in August was slightly above a 3.0 per cent median forecast by economists in a Reuters poll, but less than 3.3 per cent in July.

Inflation has picked up considerably since a 6 per cent consumption tax went into effect in April, but economists expect prices to moderate as fuel costs remain low and the festive season of Eid al-Fitr ended in mid-August.

REUTERS

Malaysia: Shares open lower on Wednesday

MALAYSIA share prices opened lower on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 11.47 points to 1626.86.

Volume was 55 million lots worth RM22.7 million.
Losers outnumbered gainers 110 to 64.

Tuesday, September 22, 2015

Ringgit adds to declines as new 1MDB probes compound losses

The ringgit added to Monday's decline after the New York Times reported the US Justice Department has started an investigation into allegations of corruption associated with Malaysian Prime Minister Najib Razak and people close to him, spurring a surge in debt insurance costs.
 
myr1.jpgThe NYT said the probe is focusing on US properties that were purchased by shell companies belonging to Mr Najib's stepson and money in the premier's personal bank account. A report days earlier from the Wall Street Journal said the US Federal Bureau of Investigation began a probe into alleged offshore money laundering by state investment company 1Malaysia Development Bhd. The ringgit is already Asia's worst-performing currency in the past 12 months amid the political scandal involving 1MDB and plunging commodity prices.

"The '1MDB wound' is getting fresh knocks from the US," said Vishnu Varathan, a Singapore-based economist at Mizuho Bank Ltd. "Malaysia has suffered from the pre-existing commodity dent and softer currency that could exacerbate the vulnerabilities from external debt." Mr Najib's press officer didn't immediately respond to a call and text message seeking comment on the New York Times report.

Malaysia: Shares opens lower on Tuesday

MALAYSIA share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 0.4 points to 1639.07.

Volume was 93.4 million lots worth RM36.88 million.
Gainers outnumbered losers 135 to 57.

Monday, September 21, 2015

Ringgit depreciates most in two weeks on global growth concern

Malaysia's ringgit fell the most in two weeks as Asian shares tracked Friday's losses in the US and Europe after the Federal Reserve's decision to keep interest rates unchanged reignited concern that global growth is deteriorating.
 
myr1.jpgOdds of a Fed rate increase at this year's two remaining meetings receded after Chair Janet Yellen noted China's slowing economy and financial market turmoil when she left borrowing costs near zero. The ringgit is already Asia's worst-performing currency in 2015 as falling Brent crude prices weigh on the oil exporter's earnings.

Malaysia: Shares open lower on Monday

MALAYSIA share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 7.91 points to 1661.54.
Volume was 24.9 million lots worth RM9.7 million.
Losers outnumbered gainers 80 to 62.

Thursday, September 17, 2015

Malaysia: Shares end higher

bursa malaysiaMALAYSIAN shares ended higher on Thursday with the Kuala Lumpur Composite Index adding 34.39 points to close at 1,681.54.
Some 2.24 billion lots, valued at RM3.14 billion were traded. Gainers numbered 672 while losers numbered 226.

Wednesday, September 16, 2015

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Wednesday News Highlights of KLCI

    bursa malaysia
  • JAKS Resources Bhd expects to clinch more packages in the Langat 2 water treatment plant project once the water restructuring process in the state is concluded.
     
  • Sapura Kencana Petroleum Bhd saw its net profit for the second quarter ended July 31, 2015, plunge 76.65% to RM104.08 million, from RM445.8 million in the previous corresponding quarter, primarily due to its oil and gas (O&G) asset impairment provision.
     
  • Damansara Realty Bhd is planning to set up a joint venture (JV) company with Japan’s Sumitomo Warehouse Co Ltd (SWC) to participate in downstream oil and gas operation in Pengerang Integrated Petroleum Complex (PIPC).
     
  • Maybank Investment Bank (MaybankIB) believes that the repatriation of overseas profits and capital, as well as the reactivation of ValueCap will boost investors’ confidence on the local stock market.
     
  • Fututech Bhd, which is acquiring two construction firms for RM458 million, is looking to raise some RM150 million from a proposed private placement of 100 million new Fututech shares.
     
  • The Malaysian Palm Oil Board (MPOB) is focusing on promoting palm oil application in non-food products and health benefits in China to further support the growth of the Malaysian palm oil industry.
     
  • Sunway Holdings Sdn Bhd (SunHoldings), a unit of Sunway Bhd, has entered into a second supplemental agreement to buy hardware and household product trader Winstar Trading Sdn Bhd (WTSB) for RM130.95mil.

Friday, September 11, 2015

Dollar mostly lower but rises versus yen

The dollar traded mostly a bit lower on Thursday as weak US inflation data cooled expectations of a Federal Reserve interest rate hike next week. 
US import prices fell 1.8 per cent in August, their steepest drop since January, the Labour Department said in a report that could help dissuade the Fed from raising zero-level interest rates at its coming policy meeting, analysts said.

dollar.jpg"The US economy showed its Achilles' heel in another subpar reading of inflation, news that weighed on the dollar and dampened expectations the Fed would raise rates next week," said Joe Manimbo of Western Union Business Solutions.

Mr Manimbo said that all eyes would be on Friday's US wholesale inflation and consumer sentiment data. "Lackluster news could see the dollar favor its back foot heading into next week's crucial Fed meeting," he added.

Malaysia: Shares open lower on Friday

MALAYSIA share prices opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 7.00 points to 1,607.02.
Volume was 62.39 million lots worth RM38.16 million.
Gainers outnumbered losers 107 to 88.

Thursday, September 10, 2015

Malaysia: Shares open lower on Thursday

MALAYSIA share prices opened lower on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 11.6 points to 1592.16.

Volume was 37.4 million lots worth RM14.9 million.
Losers outnumbered gainers 162 to 56.

Ringgit falls below 3.07 to Singdollar

Malaysia's ringgit led losses early in Asia as a renewed decline in stocks and a downgrade in Brazil's credit rating reignited concerns capital will flow out of emerging markets as the US prepares to raise interest rates.
 
The ringgit fell below the 3.07 level to one Singapore dollar, for the first time, on Thusrday morning (Sept 10), touching 3.0788 at 8:12 am. It was trading at 3.0698 as of 8:37 am, down from Wednesday's close of 3.0590.

ringgit.jpgThe Malaysian currency also sank to a new 1998 low against the US dollar. It was down 1.1 per cent to 4.3770 per US dollar as of 8:13 am in Kuala Lumpur, the lowest level since January 1998, according to prices from local banks compiled by Bloomberg."The drop in US equities, the rate cut by the Reserve Bank of New Zealand and cutting Brazil's rating to junk should push emerging markets down," said Masashi Murata, vice president at Brown Brothers Harriman & Co. in Tokyo. "All Asian currencies are likely to drop with risk-off trading."

Monday, September 7, 2015

Ringgit falls to new low since 1998 after US jobs data, oil price drop

The ringgit fell to a new 1998 low as oil prices extended their decline and after a report showed the US jobless rate was at its lowest in seven years, adding weight to the Federal Reserve's plan to raise interest rates.
myr1.jpg 
Brent crude extended last week's drop and has halved in price during the past 12 months, cutting government revenue for oil-exporting Malaysia. While the US unemployment rate touched 5.1 per cent in August, the lowest level since 2008, the rise in the non-farm payrolls numbers was less than forecast, according to official data on Sept 4. Higher US borrowing costs risk increasing capital outflows from emerging markets, just as slowing Chinese economic growth is curbing risk appetite.

Malaysia: Shares open lower on Monday

MALAYSIA share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 11.88 points to 1578.5.
malaysian share prices

Volume was 33.37 million lots worth RM13.4 million.
Losers outnumbered gainers 118 to 58.

Friday, September 4, 2015

Ringgit gets no reprieve as it slides with oil on slowing China

Malaysia's ringgit fell for an 11th week in its longest stretch of losses since 1993 as lower energy prices weigh on the oil exporter's earnings and capital flows out of emerging markets amid slowing Chinese growth.

ringgit.jpgThe nation's foreign-exchange reserves have fallen 19 per cent this year, fueling speculation the central bank bought the ringgit to stem declines in Asia's worst-performing currency. Data for the last two weeks of August are due after markets close on Friday, while a report on exports due at noon is forecast to show growth slowed and the trade surplus shrank. Malaysia's benchmark stock index dropped this week and is down more than nine per cent in 2015, with a US interest-rate increase likely to spur more outflows.

"For the ringgit, it has almost become a perfect storm," said Mitul Kotecha, head of Asia Pacific currency strategy at Barclays Plc in Singapore. "The external position has come under focus. There are lower oil prices, weaker external demand and looming Federal Reserve rate hikes." The ringgit depreciated 1.4 per cent in the past five days and 0.3 per cent on Friday to 4.2595 a dollar as of 10:30 am in Kuala Lumpur, according to prices from local banks compiled by Bloomberg. It has weakened 18 per cent this year and fell to a 17-year low of 4.2990 on Aug 26.

Malaysia: Shares open flat on Friday

malaysian sharesMALAYSIA share prices opened flat on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 0.7 points to 1,602.05.

Volume was 73.6 million lots worth RM29.3 million.
Gainers outnumbered losers 93 to 78.

Wednesday, September 2, 2015

Malaysia: Shares end lower

MALAYSIAN shares ended lower on Wednesday with the Kuala Lumpur Composite Index slipping 19.02 points to close at 1,590.19.

Some 1.89 billion lots, valued at RM2.13 billion were traded. Gainers numbered 379 while losers numbered 347.

Ringgit falls amid global stock selloff on China growth outlook


myr1.jpgThe FTSE Bursa Malaysia KLCI Index of stocks dropped more than one per cent Wednesday, raising concern more foreign investors will exit after dumping about US$3 billion in shares this year. Brent crude tumbled 8.5 per cent Tuesday in its biggest one-day slide since 2011 before data forecast to show US stockpiles increased. The price of the commodity has halved in the past year, cutting Malaysia's export earnings and contributing to a 24 per cent slump in the ringgit. A report on Tuesday showed China's official factory gauge fell to a three-year low last month.

[KUALA LUMPUR] Malaysia's ringgit fell the most in a week amid a global selloff in equities and as energy prices slumped on signs China's economy is slowing.


An overnight drop in emerging-market currencies and a retreat in Brent "should see Asia falling back in line with the rest of the world where risk appetite remains impaired," said Nizam Idris, the Singapore-based head of foreign-exchange and fixed-income strategy at Macquarie Bank Ltd.

"Oil has been volatile." The ringgit weakened 1.4 per cent to 4.2227 a dollar as of 10:08 am in Kuala Lumpur, the steepest decline in Asia, according to prices from local banks compiled by Bloomberg. It reached a 17-year low of 4.2990 on Aug 26.

Tuesday, September 1, 2015

Ringgit climbs with bonds as political rallies pass peacefully

Malaysia's ringgit rose to a one-week high and bonds rallied after weekend protests calling for the resignation of Prime Minister Najib Razak ended peacefully. An overnight surge in oil prices also aided local markets as they reopened after Monday's National Day holiday.
 
191529122692 - 02_09_2013 - MALAYSIA RINGGIT.jpgThe currency appreciated 0.7 per cent to 4.1645 a dollar in Kuala Lumpur, extending its recovery from a 17-year low of 4.2990 reached on Aug. 26, according to prices from local banks compiled by Bloomberg. It rose as much as 1.2 per cent earlier to 4.1430. The 10-year government bond yield dropped 17 basis points to 4.23 per cent, the biggest decline since 2013, Bursa Malaysia prices show.

Brent crude prices climbed 8.2 per cent in New York on Monday, easing concern that government finances will deteriorate for Asia's only major net oil exporter. The political rallies in the capital failed to draw a large number of ethnic Malays, a sign that a funding scandal enveloping Najib has yet to cause major dissent within his grassroots power base.

Malaysia: Shares end lower

bursa malaysiaMALAYSIAN shares ended lower on Tuesday with the Kuala Lumpur Composite Index slipping 3.53 points to close at 1,609.21.
Some 2.06 billion lots, valued at RM2.60 billion were traded. Gainers numbered 369 while losers numbered 400.