Bursa Malaysia Opened Lower Later Recovered To Trade Positive

KLSE News

Bursa Malaysia opened lower after weak global markets at the end of last week.

Market participants were worried that the Federal Reserve would continue raising interest rates and running down its balance sheet despite mounting concerns about slowing global growth.

The key FTSE Bursa Malaysia KLCI lost 6.8 points to 1,663.48 from close of 1,670.28. The index opened 0.29 point lower at 1,669.99.

Among large-caps, Maybank lost five sen to RM9.24, Public Bank lost 12 sen to RM24.56; Tenaga lost 24 sen to RM13.24 but PChem up four sen to RM9.24.

Among most traded Hubline and SapNRG were both flat at four sen and 30 sen respectively, Armada and NovaMSC declined half-a-sen each to 15.5 sen and 10 sen while MyEG added 1.5 sen to 84 sen.

KLSE Stock Gainers

Stock Last Change
BAT 35.96 0.66
F&N 31.58 0.24
PETRONM 6.29 0.21
TOPGLOV 5.64 0.17
PETGAS 19.2 0.16

KLSE Stock Loser

Stock Last Change
NESTLE 146.1 -1.5
DLADY 60 -0.6
SCIENTX 9.23 -0.13
TIMECOM 7.91 -0.13
KLK 24.08 -0.12

Stock in News

Advance Synergy Bhd rose 4.54% today after the group said it is buying Beaver Hotel in London, UK, for £10.25 million.

Top Glove Bhd’s share price increased RM5.65 so far today, after first trading day as an FTSE Bursa Malaysia (FBM) KLCI entry.

Shares in DKSH Holdings (M) Bhd rose 4.91% this morning after the group is acquiring the entire equity interest in chilled and frozen products distributor Auric Pacific (M).

Global Market

Stocks dove again on Friday, sending the Dow Jones Industrial Average to its worst week. The Nasdaq Composite Index closes in a bear trap and the S&P 500 in downtrend down almost 18 percent from its record prior this year.

The Dow Jones Industrial Average fell 414.23 points to 22,445.37.

Stocks shift to their lows after President Trump’s trade adviser, told Nikkei that it would be “difficult” for the U.S. and China to arrive at a permanent economic agreement after a 90-day ceasefire in the trade tensions.

Index Last Change%
Dow 30 22445 -1.81
S&P 500 2417 -2.06
Nasdaq 100 6333 -2.99
FTSE 100 6721 0.14
DAX 10634 0.21
 
Currency Market

Forex Signals: The ringgit opened slightly lower traded at 4.1800/1880 versus the US Dollar from 4.1790/1830.

Commodity Market

Gold price: Gold spot trading at $1263.28 in morning trade. On Friday as equities fell yet again amid fresh political turmoil in the Trump White House and new fears over GDP growth in China, the world’s second-largest economy.

Gold Trading Range $1250-$1265