KUALA LUMPUR (July 6): Last year s stock market rally was unexpected against the backdrop of the Covid-19 pandemic. Ample liquidity as a result of low interest rates globally was the main fuel to the sharp rebound.
In Malaysia, loan moratorium granted by Bank Negara Malaysia added additional fuel. More interestingly, the long absent retail investors returned to dominate the local market.
Retail investors are given a six-month loan moratorium again, however research analysts and fund managers doubt that it would help stage another rally like last year. The reason is that more people are likely to face even tighter cash flow compared with a year ago, no thanks to coronavirus.
PETALING JAYA: Rakuten Trade has revised its end-2021 target for the FBM KLCI to 1,700 points from 1,870 points, citing uncertainty over the spike in .
KUALA LUMPUR (May 11): Bursa Malaysia’s Technology Index fell 1.58% to 78 as selling pressure on big tech shares sent the US Nasdaq Composite down 2.55% overnight to 13,401.86 points.
Malaysian Pacific Industries Bhd (MPI), Greatech Technology Bhd and Unisem (M) Bhd were among the top 30 losers this morning.
At the time of writing, MPI, the top loser, had fallen RM1.40 or 3.65% to RM37.
Meanwhile, Unisem slid 27 sen or 3.61% to RM7.20, while Greatech was down by 23 sen or 4.12% at RM5.35.
Phillip Capital Management Sdn Bhd chief strategist Phua Lee Kerk is neutral on the outlook for technology stocks.
He opined that there are still some upsides for technology stocks as recovery plays are dragged by the movement control order (MCO 3.0).
Bursa Malaysia ends weaker
KUALA
LUMPUR: Bursa Malaysia ended the day weaker on persistent profit-taking seen in almost all heavyweight counters, led by Top Glove, IHH and Hartalega.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 10.92 points to 1,590.73 from Friday’s close of 1,601.65.
The index opened 0.44 of-a-point firmer at 1,602.09 the highest level of the day and fell as low as 1,588.89 throughout the day.
Market breadth remained negative with losers thumping gainers 912 to 301, while 350 counters were unchanged, 590 untraded and five others suspended.
Total volume fell to 6.68 billion shares worth RM4.26 billion from 6.75 billion shares worth RM4.61 billion last Friday.
Monday, 03 May 2021 06:14 PM MYT
An investor monitors the stock prices in the gallery of the RHB Investment Bank Bhd headquarters in Kuala Lumpur March 17, 2020. ― Picture by Hari Anggara
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KUALA LUMPUR, May 3 Bursa Malaysia ended the day weaker on persistent profit-taking seen in almost all heavyweight counters, led by Top Glove, IHH and Hartalega.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 10.92 points to 1,590.73 from Friday’s close of 1,601.65.
The index opened 0.44 of-a-point firmer at 1,602.09 the highest level of the day and fell as low as 1,588.89 throughout the day.