KLCI fails to make significant gains as sentiment remains wary

The FBM KLCI failed to make any significant gain at the the midday break today, as investor sentiment continued to remain wary.  
At 12.30pm, the FBM KLCI inched up 1.09 points to 1,634.85.
Losers outpaced gainers by 367 to 291, while 347 counters traded unchanged. Volume was 919.25 million shares, valued at RM666.48 million.
The top gainers at noon included Nestle (M) Bhd, UMW Holdings Bhd, Scientex Bhd, Malaysia Airports Holdings Bhd, Hap Seng Consolidated Bhd, Heineken Malaysia Bhd, Fraser & Neave Holdings Bhd and Time Dotcom Bhd.
The actively-traded stocks included AirAsia X Bhd, Vivocom International Holdings Bhd, XOX Bhd, Compugates Holdings Bhd, AirAsia Bhd and Kanger International Bhd.
The losers included British America Tobacco (M) Bhd, Lafarge Malaysia Bhd, Aturmaju Resources Bhd, Tasek Corporation Bhd, BLD Plantation Bhd, Panasonic Malaysia Manufacturing Bhd, Bursa Malaysia Bhd and Boustead Holdings Bhd.
Asian shares edged up on Friday but were on track for a weekly loss, while the dollar was poised for a winning week on bets the U.S. Federal Reserve could raise rates as early as next month, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.6%, though still down 0.3% for the week and off 4.2% so far this year, it said.
Kenanga IB Research said it was another choppy trading session for the FBM KLCI yesterday, as investors were still digesting possibilities of future interest rate hike by the US Fed, as well as lacklustre Auditor-General’s report for the year 2015.
It said that at closing bell, the FBM KLCI inched down 1.96 points or 0.12% to close at 1,633.76, with market breadth leaning towards the bearish camp, having 415 decliners against 355 advancers.
The research house explained that on the chart, the FBM KLCI maintained its sideways trading trajectory, on the back of tepid trading volume.
“The overall underlying outlook remains unexciting as key momentum indicators such as MACD, relative strength index and Stochastic, are still lying flat to reflect the monotonous buying momentum.
“Thus, we reaffirm our view that the local bourse will end the week on a weaker note, within 1,620 (S1)-1,640 (R1).
“Next level of resistance and support are 1,650 (R2) and 1,600 (S2), respectively,” it said.

Source : http://www.theedgemarkets.com/my/article/klci-fails-make-significant-gains-sentiment-remains-wary

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Ringgit at 4.21 against USD

KUALA LUMPUR: The ringgit opened higher in early trade against the US dollar today on mild demand for the local note.

At 9am, the ringgit was quoted at 4.2150/2200 against the greenback from 4.2250/2310 on Thursday.

A dealer, said, local sentiment had improved with the ongoing positive progress on the 1MDB issue. On the global front, the dealer said investors are still cautious over the US dollar which fell in overnight trade, and ahead of crucial US jobs data to be released tonight.

They are also concerned over the hawkish comments by US Federal Reserve Chair, Janet Yellen, that keeping interest rates at zero for too long would create a risk to the financial stability of the US economy. The ringgit, meanwhile, traded mixed against other major currencies.

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Malaysia: Shares end higher

Malaysian shares closed higher on Tuesday, with the Kuala Lumpur Composite Index gaining 13.49 points to 1,677.56.

Some 2.8 billion lots, valued at RM2.3 billion, were traded. Gainers outnumbered losers 521 to 357.

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Malaysia: Shares end lower

 Malaysian shares closed lower on Tuesday, with the Kuala Lumpur Composite Index losing 9.84 points to 1,696.95.

Some 1.9 billion lots, valued at RM1.9 billion, were traded. Losers outnumbered gainers 588 to 269.

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Stocks to watch: SGX, Mapletree Commercial Trust, Cache Logistics Trust

THESE companies announced results that may influence trading on Thursday.

Singapore Exchange: SGX raised its base dividend and outlined its strategy to raise liquidity in the sluggish securities market as net profit rose 28 per cent for its fiscal first quarter ended Sept 30.

The market operator is raising its first-quarter cash dividend to five Singapore cents per share from four Singapore cents a year ago, and future quarterly payouts are expected to follow suit.

Net profit increased to S$99.3 million, or 9.3 Singapore cents per share, as operating revenue rose 30.1 per cent to S$219.6 million.

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Ringgit leads Asia currency rally as Fed rate odds dip further

Malaysia's ringgit led an advance in Asian currencies as odds of a US interest-rate increase this year diminished further, giving a reprieve to emerging-market assets.

 

Asian currencies are rallying in October as futures show just a 33 per cent chance of a rate hike by the Federal Reserve, compared with 61 per cent at the start of the month. Exchange rates in the region have come under pressure this year as prospects for US monetary tightening fueled concern that demand for local assets would recede. The ringgit has seen the biggest selloff as a slump in Brent crude cuts earnings for the oil exporter and a political scandal involving the prime minister erodes investor confidence.

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Malaysia: Shares open lower on Tuesday

Malaysia share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 0.14 points to 1,709.72.

Volume was 100.9 million lots worth RM39 million. Gainers outnumbered losers 111 to 99.

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Malaysia: Shares open lower on Monday

Malaysia share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 3.33 points to 1,703.210.

 

Volume was 71.8 million lots worth RM26.04 million.

Gainers outnumbered losers 135 to 81.

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Malaysia: Shares open lower on Thursday

MALAYSIA share prices opened lower on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 7.31 points to 1682.67.

Volume was 61.4 million lots worth RM20.5 million.

Gainers outnumbered losers 117 to 58

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Malaysia: Shares open flat on Monday

MALAYSIA share prices opened flat on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 0.79 points to 1629.59.

Volume was 27.3 million lots worth RM9.5 million.

Gainers outnumbered losers 125 to 45.

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Malaysia: Shares end higher on Thursday

Malaysian shares closed higher on Thursday, with the Kuala Lumpur Composite Index gaining 12.89 points to 1,633.93.

Some 1.52 billion lots, valued at RM1.82 billion, were traded. Gainers outnumbered losers 465 to 306.

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Malaysia: Shares open lower on Tuesday

MALAYSIA share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 7.54 points to 1600.89.

Volume was 45.4 million lots worth RM26.3 million.

Losers outnumbered gainers 140 to 39.

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Malaysia: Shares open lower on Friday

MALAYSIA share prices opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 8.89 points to 1604.15.

Volume was 73.2 million lots worth RM43.3 million. Losers outnumbered gainers 128 to 75.

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Ringgit declines with stocks and bonds as China slows further

Malaysia's ringgit slid along with stocks and bonds as a measure of factory output in China added to signs Asia's largest economy is slowing, spurring demand for the relative safety of the dollar.

 

Emerging-market assets have been under pressure since the Federal Reserve cited China concerns as a reason for refraining from raising interest rates last week. A measure of the Asian nation's manufacturing fell to six-year low, according to a preliminary Purchasing Managers' Index released Wednesday. 

That further dimmed the outlook for Malaysia's biggest trading partner, just as new probes into state investment company 1Malaysia Development Bhd. and the prime minister are once again hurting the ringgit.

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Malaysia inflation picks up in August, slightly above forecast

Malaysia's consumer price index in August edged up to 3.1 per cent from a year earlier due to sustained price increases in household expenses despite lower fuel costs, data showed on Wednesday.

 

Inflation in August was slightly above a 3.0 per cent median forecast by economists in a Reuters poll, but less than 3.3 per cent in July.

Inflation has picked up considerably since a 6 per cent consumption tax went into effect in April, but economists expect prices to moderate as fuel costs remain low and the festive season of Eid al-Fitr ended in mid-August.

REUTERS

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Malaysia: Shares open lower on Monday

MALAYSIA share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 7.91 points to 1661.54.

Volume was 24.9 million lots worth RM9.7 million.

Losers outnumbered gainers 80 to 62.

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Malaysia: Shares open lower on Friday

MALAYSIA share prices opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 7.00 points to 1,607.02.

Volume was 62.39 million lots worth RM38.16 million.

Gainers outnumbered losers 107 to 88.

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Malaysia: Shares open lower on Thursday

MALAYSIA share prices opened lower on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 11.6 points to 1592.16.

Volume was 37.4 million lots worth RM14.9 million.

Losers outnumbered gainers 162 to 56.

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Malaysia: Shares open lower on Monday

MALAYSIA share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 11.88 points to 1578.5.

Volume was 33.37 million lots worth RM13.4 million.

Losers outnumbered gainers 118 to 58.

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Malaysia: Shares open flat on Friday

MALAYSIA share prices opened flat on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 0.7 points to 1,602.05.

Volume was 73.6 million lots worth RM29.3 million.

Gainers outnumbered losers 93 to 78.

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