Bursa Malaysia open higher today on continued buying interest driven by the Bank Negara Malaysia’s decision to keep the Overnight Policy Rate (OPR) at 3.25 percent,
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.9 points higher at 1,697.5, from yesterday’s close of 1,693.
Market breadth was positive, as gainers outnumbered losers 398 to 289, while 1223 counters were unchanged.
KLSE Stock Loser
Stock in News
Syarikat Takaful Malaysia Keluarga Bhd’s net profit rose by 60.86% to RM90.57 million from RM56.30 million, contribution of higher net Wakalah fee income arising from growth in the family and general takaful business.
Caring Pharmacy Group Bhd’s net profit rose 34.3% to RM5.74 million for the second quarter ended Nov 30, 2018, from RM4.27 million a year ago, on the back of higher revenue and gross profit margin. Revenue grew 12.84% to RM139.3 million from RM123.45 million, driven by the sales generated from the establishment of 10 new outlets
KLCCP Stapled Group’s net profit for the fourth quarter fell 46.84% to RM183.66 million from RM345.52 million a year ago due to lower profit contribution from hotel operations and management services.
US Stocks show volatile and lack of direction. The Dow and the S&P 500 have spent the day bouncing back and forth across the unchanged line, although the tech-heavy Nasdaq has managed to remain positive.
The Nasdaq rose 45.57 points or 0.7 percent at 7,071.34, the Dow is up 19.63 points or 0.1 percent at 24,595.25 and the S&P 500 is up 5.47 points or 0.2 percent at 2,644.17.
Labor Department in released initial jobless claims number which fell to their lowest level in almost fifty years in the week ended January 19th.The report said initial jobless claims slid to 199,000, a decrease of 13,000 from the previous week’s revised level of 212,000.
Analyst surprised by expected jobless claims to rise to 220,000 from the 213,000 originally reported for the previous week.
Forex Signals: The ringgit opens lower against the US dollar. The ringgit traded at 4.1360 vs. previous close 4.1450.
Gold Price: Gold yesterday saw swing moves but remains in the same range of $1276-$1285. Us dollar index trade with negative near 96.39 (-0.21%).
Gold Range: $1276-$1285.