KUALA LUMPUR (July 9): Bursa Malaysia was slightly higher in early morning trade on bargain-hunting activities, which supported the benchmark index to stay above the 1,500-level.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.15 points to 1,513.86 from Thursday’s close of 1,508.71.
The market bellwether opened 0.35 of-a-point easier at 1,508.36.
On the broader market, gainers led losers 197 to 126, while 246 counters were unchanged, 1,634 untraded and 10 others suspended.
Turnover stood at 240.14 million units valued at RM135.80 billion.
Malacca Securities expects the current cautious trading tone to persist due to lack of fresh positive catalysts.
“However, we believe bargain-hunting activities may emerge in the near term due to the significant selldown and oversold tone across the board. Commodity-wise, the oil price has seen a rebound following an improved inventory draw,” it said in a research note today.
KUALA LUMPUR (July 5): Bursa Malaysia opened marginally higher as market sentiment may be improving as five states in the country are moving into Phase 2 of the National Recovery Plan (NRP).
At 9.05am, the benchmark FBM KLCI had risen 0.24 of a point to 1,533.59 from last Friday’s close at 1,533.35.
The market bellwether opened 0.69 of a point higher at 1,534.04.
On the broader market, gainers led losers 192 to 169, while 299 counters were unchanged, 1,513 untraded and nine others suspended.
Turnover stood at 286.43 million units valued at RM124.17 billion.
On Saturday, the National Security Council announced that Kelantan, Pahang, Perak, Terengganu and Perlis had fulfilled the three indicators of the NRP and will move into Phase 2 today.
As predicted by analysts, Mr DIY Group (M) Bhd will be included in the benchmark FBM KLCI index while Supermax Corp Bhd has been excluded following the semi-annual review of the index constituents.
Ex-Hong Leong Bank Bhd chief executive officer Datuk Yvonne Chia has been appointed independent non-executive director at Press Metal Aluminium Holdings Bhd.
THE Covid-19 pandemic has caused many companies to be in financial distress, forcing some to temporarily shut down factories and operations for at least two months from mid-March in 2020 and experiencing lower demand after that.
With numerous firms seeing a decline in earnings, and many falling into the red, one wonders how much Malaysia’s top brass were paid in 2020 versus the year before.
According to data compiled by The Edge, among the top 50 companies by market capitalisation, the heads of 15 firms took a pay cut, 13 saw a bump in their paycheques and only two those of Supermax Corp Bhd and Time dotcom Bhd had no change in pay.