This week will see Malaysia joining Hong Kong and Singapore in releasing its inflation numbers for January. Malaysia is scheduled to announce the Consumer Price Index (CPI) data on Wednesday. The CPI fell 1.4% year on year in December 2020.
According to ING senior economist for Asia Prakash Sakpal, inflation in Hong Kong, Malaysia and Singapore likely remained in negative territory. “Of note here would be data from Malaysia where tighter Covid-19 movement restrictions (in January) possibly intensified the downward price trend, supporting our call of a 25-basis-point Bank Negara Malaysia policy rate cut in March,” he says in a Feb 18 report.
KUALA LUMPUR (Feb 19): The main index at Bursa Malaysia recovered lost ground and climbed at the midday break today, while regional markets pulled back from all-time highs.
At 12.30pm, the FBM KLCI rose 3.28 points to 1,579.12. The index had earlier slipped to a low of 1,573.84.
Market breadth remained cautious with 446 losers and 361 gainers, while 731 counters traded unchanged. Trading volume was a brisk 9.1 billion shares valued at RM3.69 billion.
The gainers included Genetec Technology Bhd, Malaysian Pacific Industries Bhd, Carlsberg Brewery Malaysia Bhd, Unisem (M) Bhd, Batu Kawan Bhd, Nestle (M) Bhd, Mr DIY Group (M) Bhd, Tasco Bhd, Greatech Technology Bhd, Heineken Malaysia Bhd and PPB Group Bhd.
KUALA LUMPUR (Feb 19): The main index at Bursa Malaysia reversed its earlier gains and drifted lower at mid-morning today, tracking lacklustre regional markets following the overnight decline at US markets.
At 10am, the FBM KLCI dipped 0.64 points to 1,575.20. The index had earlier risen to a high of 1,582.18.
Market breadth turned negative with 658 losers and 258 gainers, while 376 counters traded unchanged. Trading volume was 4.46 billion shares valued at RM1.75 billion.
The top losers included Hengyuan Refining Company Bhd, CI Holdings Bhd, Lii Hen Industries Bhd, Aeon Credit Service (M) Bhd, Petron Malaysia Refining & Marketing Bhd, Hartalega Holdings Bhd and Muda Holdings Bhd.
KUALA LUMPUR (Feb 19): The FBM KLCI closed 9.09 points or 0.57% higher today, lifted by gains among component stocks including Kuala Lumpur Kepong Bhd and Nestle (Malaysia) Bhd, amid mixed performance in regional markets.
At 5pm, the benchmark index ended the week at 1,584.93, after it had been in the negative zone for three consecutive days.
On a week-on-week basis, however, the KLCI was down 0.9% against last week’s closing of 1,599.42.
In a note, Hong Leong Investment Bank analyst Ng Jun Sheng said the benchmark index is vulnerable to further consolidation amid the fourth quarter of 2020 (4Q2020) reporting season.
“Nevertheless, downside risk could be limited near the 1,545-1,561 zones on the back of the Fed’s dovish outlook, huge US stimulus package, falling Covid-19 infections globally, and the planned vaccination programme in Malaysia starting Feb 26,” he said.
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.