KUALA LUMPUR (Feb 18): The main index at Bursa Malaysia slipped at the midday break Thursday as regional markets succumbed to profit-taking.
At 12.30pm, the FBM KLCI dipped 3.52 points to 1,591.77. The index had earlier risen to a high of 1,599.31.
Sentiment turned tepid with 531 losers and 325 gainers, while 677 counters traded unchanged. Trading volume was 8.47 billion shares valued at RM3.67 billion.
The losers included Nestle (M) Bhd, Malaysian Pacific Industries Bhd, KESM Industries Bhd, Tasco Bhd, Carlsberg Brewery Malaysia Bhd, Amtel Holdings Bhd, Grand Hoover Bhd, Solarvest Holdings Bhd and UPA Corp Bhd.
The actively traded stocks included Dagang NeXChange Bhd, Velesto Energy Bhd, Alam Maritim Resources Bhd, Sapura Energy Bhd, DGB Asia Bhd, Dataprep Holdings Bhd and KNM Group Bhd.
At 10.15am, the FBM KLCI had lost 8.66 points to 1,597.48.
Market sentiment was tepid with losers leading gainers by 512 to 357, while 439 counters traded unchanged. Trading volume was 3.49 billion shares valued at RM1.45 billion.
The losers included Heineken Malaysia Bhd, Malaysian Pacific Industries Bhd, Hong Leong Bank Bhd (HLB), Petronas Chemicals Group Bhd (PetChem), Pentamaster Corp Bhd, UWC Bhd, Telekom Malaysia Bhd (TM), Hengyuan Refining Company Bhd and Genting Bhd.
The actively traded stocks included DGB Asia Bhd, Sapura Energy Bhd, Dagang NeXchange Bhd (DNeX), AT Systematization Bhd and Dataprep Holdings Bhd.
The gainers included UPA Corp Bhd, Supermax Corp Bhd, Ralco Corp Bhd, VSTECS Bhd, Genetec Technology Bhd, Grand Hoover Bhd, ViTrox Corp Bhd and Tasco Bhd.
KUALA LUMPUR (Feb 17): The main index of Bursa Malaysia pared some of its loss before the midday break today, but remained below the 1,600-point level in line with cautious regional markets.
At 12.30pm, the FBM KLCI was down 8.10 points at 1,598.04. The index earlier dropped to a low of 1,596.45.
Broader market sentiment remained cautious with 416 losers and 367 gainers, while 712 counters traded unchanged. Trading volume was 5.99 billion shares valued at RM2.79 billion.
The top losers included Malaysian Pacific Industries Bhd, Pentamaster Corp Bhd, AEON Credit Service (M) Bhd, Kuala Lumpur Kepong Bhd (KLK), Mega First Corp Bhd, Telekom Malaysia Bhd (TM), Inari Amertron Bhd, Unisem (M) Bhd and Axiata Group Bhd.
is well positioned to capture companies relocating their manufacturing plants outside China and increasing investments in the manufacturing sector.
The Covid-19 fallout has led to disruptions in global supply chains and the US-China trade war has prompted many companies to consider relocating and diversifying their supply chains.
AmInvestment Bank Research expects the port sector to remain resilient, underpinned by global trade and investments in the manufacturing sector that generate tremendous inbound (feedstock) and outbound (finished product) throughput for ports.
“There have been significant relocations of the manufacturing base by multinational companies out of China due to the rising labour and land costs, exacerbated by the US-China trade war.
PublicInvest Research expects Malaysian plantation companies to post stronger earnings, owing to higher average prices of CPO. “In the fourth quarter of financial year 2020 (Q4), all plantation players except IOI Corp Bhd, Kuala Lumpur Kepong Bhd and Ta Ann Holdings Bhd will report stronger production on a yearly basis. Nevertheless, we believe the impact of weaker production would be offset by the stronger CPO prices .
KUALA LUMPUR: There has been a disparity between crude palm oil (CPO) prices and local plantation counters, which is possibly affected by the environmental, social and governance (ESG) criteria resulting in lower interest and valuation for the plantation sector.