PETALING JAYA: The respite for small-cap stocks battered by the sell-off in recent weeks appears to have been short-lived as some of the worst-hit counters have again come under selling pressure today.
PETALING JAYA: Three stocks linked to businessman Yu Kuan Chon have succumbed to selling pressure in recent days, prompting Bursa Malaysia to issue unusual market activity (UMA) queries to two of the companies yesterday.
Rapid Synergy Bhd’s market capitalisation topped RM1 billion for the first time since the company’s listing as the precision tool manufacturer and property investor's share price rose past RM9 to an all-time high on Bursa Malaysia on Friday (Oct 15).
KUALA LUMPUR (March 17): The FBM KLCI erased losses to close marginally higher today on last-minute buying interest ahead of the government’s announcement of a new stimulus package.
The benchmark index closed 1.01 points or 0.06% higher at 1,624.97 after having stayed in negative territory for the most part of the trading session.
A remisier, Jeffry Azizi Jaafar, said the drop in the index earlier was due to a correction in prices following the rally in the past three weeks.
“The market saw financial, plantation and technology [stocks] fall due to a consolidation after recent strong gains on market recovery optimism, driven by the ongoing vaccination programme and a decline in daily [new] Covid-19 infections,” he told
KUALA LUMPUR (March 4): The FBM KLCI closed down 7.19 points or 0.45% today tracking the negative performance of Asian equities after an overnight surge in bond yields again dragged shares on Wall Street.
At 5pm, the benchmark index closed at 1,581.26 points. Today, the index had mostly traded in negative territory, ranging between 1,577.39 and 1,590.46 compared with yesterday’s closing of 1,588.45.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com the weakness in the local bourse performance today was in line with regional markets after Wall Street dropped yesterday due to rising Treasury yield.
The rising yield has sparked investors concerns that this may prompt central banks to raise ultra-low interest rates, which is bad for the equity market.