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Wednesday, March 29, 2017

Market Daily Report: KLCI down as BAT, Petronas Dagangan top Bursa decliners

KUALA LUMPUR (March 29): The FBM KLCI fell 4.01 points or 0.2% on index-linked British American Tobacco (M) Bhd (BAT) and Petronas-related share losses.

BAT shares fell on speculation Malaysia may raise cigarette prices, a move which could affect BAT's sales volume. Petronas Dagangan Bhd and Petronas Gas Bhd shares declined on profit taking after both stocks rose yesterday.

At 5pm today, the KLCI closed at 1,750.41 points. BAT shed RM2.46 to RM45.44, Petronas Dagangan dropped 94 sen to RM23.90 while Petronas Gas was 16 sen lower at RM19.80.
BAT was Bursa Malaysia's top decliner. Petronas Dagangan and Petronas Gas were the second and eighth-largest decliners respectively.

“There was a knee-jerk reaction on BAT as a deputy minister had suggested that cigarette prices may be increased to RM21.50 per pack, while everyone will be monitoring how Petronas Dagangan will adjust to the weekly ceiling price (for petrol),” Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told

Across Bursa Malaysia, 3.4 billion shares worth RM2.63 billion were traded. Gainers outpaced decliners at 522 versus 402 respectively.

Source: The Edge

Tuesday, March 28, 2017

Market Daily Report: Malaysian stocks recover after US markets, dollar stabilise

KUALA LUMPUR (March 28): Malaysian stocks rebounded today, mirroring movements among regional counterparts, after Wall Street and the US dollar stabilised following US President Donald Trump’s failure to push through a healthcare reform Bill.
The benchmark FBM KLCI index closed 9.47 points or 0.54% higher at 1,754.42 points, with gains led by Petronas Dagangan Bhd and Panasonic Manufacuring Malaysia Bhd.

However, trading volume fell to 3.07 billion shares worth RM2.42 billion compared with Monday’s 3.97 billion shares worth RM2.49 billion. Market breadth was positive, with 513 gainers versus 366 losers.

“The stock market rebounded slightly (today), but there isn’t anything too spectacular happening in Malaysia for now. However, we do expect the ongoing reversal of outflow to continue for at least the next two weeks,” Etiqa Insurance and Takaful research head Chris Eng told

Eng said economy-wise, although Asean stock markets are still patchy at this point, the situation is set to improve gradually for the region with China expected to take the lead.

Indonesia, Thailand and the Philippines could continue underperforming for the remaining of 2017 while the outperformers could very likely be Malaysia and Singapore, he added.

“We are now seeing a rising tide for boats, and the winning boat could very well be China. Malaysia, on the other hand, is also expected to perform well moving forward,” Eng said.

Actively traded stocks today included Scomi Group Bhd, Dataprep Holdings Bhd and Olympia Industries Bhd, while top losers were United Plantations Bhd, Dutch Lady Milk Industries Bhd and Teck Guan Perdana Bhd.

Elsewhere in the region, Japan’s Nikkei 225 rose 1.14%, Hong Kong’s Hang Seng Index climbed 0.63% and South Korea's KOSPI index gained 0.35%.

Reuters reported that Asian stocks were up today following Wall Street’s stabilisation and strengthening of the US dollar. Stock markets, which suffered following Trump’s presidential election win and most recently, his setback on healthcare reform, were given a boost from the US Federal Reserve's decision to hike its benchmark interest rate.

However, the rally came to a halt on doubts over Trump's ability to keep his promises of fiscal stimulus, including tax reform.

Source: The Edge