Bursa Malaysia to see range-bound trading next week

KUALA LUMPUR -- Bursa Malaysia is expected to maintain range-bound trading next week and hover between 1,805 and 1,776 points with external uncertainties expected to put a limit to the upside potential, said an economist.

Bank Islam Chief Economist Dr Mohd Afzanizam Abdul Rashid said the market would be focusing on a series economic releases in China, ranging from foreign direct investment, money supply to Chinese new loans.

“Besides, the International Monetary Fund will give updates on the world economic outlook on Oct 9, as well releases new economic forecast,” he told.

Mohd Afzanizam said perhaps, the theme would revolve around trade tensions, as well as global monetary tightening, hence, indicating a challenging global economic prospect in 2019.

On the home front, he said investors would also be looking for more market catalysts from the mid-term review of the 11th Malaysia Plan and Budget 2019 presentation on Oct 18 and Nov 2, respectively.

The markets are looking for more clarity in policy-making going forward, he added.

For the week just ended, the local bourse was traded in a range bound, tracking key Asian and the US stock markets.

On Friday it weakened further, no thanks to the US Automatic Data Processing Inc. employment reports, which signalled a positive US economic condition.

The data reported that the American private sector employment soared in September, as employers added 230,000 jobs, and this was beyond market expectations of 179,000.

On a Friday-to-Friday basis, the benchmark FBM KLCI settled 16 points lower at 1,777.15.

The FBM Emas Index was down 125.59 points at 12,407.63, the FBMT100 Index fell 122.21 points to 12,214.63 and the FBM Emas Shariah Index depreciated 166.74 points to 12,511.82.

The FBM 70 contracted 194.14 points to 14,679.12, while the FBM Ace lost 156.63 points to 5,230.06.

On a sectoral basis, the Finance Index dropped 87.33 points to 17,712.12, the Plantation Index plummeted 57.51 points to 7,482.43, and the Industrial Products and Services Index eased 0.56 point to 177.00.

Weekly turnover increased to 9.2 billion units worth RM9.18 billion from 8.17 billion units worth RM8.85 billion.

Main Market volume advanced to 6.33 billion shares worth RM8.49 billion versus 5.74 billion shares valued at RM8.28 billion last Friday.

Warrants turnover appreciated to 1.64 billion units valued at RM392.29 million against 1.11 billion units worth RM236.76 million.

The ACE Market volume gained to 1.54 billion shares worth RM297.83 million from 1.32 billion shares worth RM328.55 million. - Bernama

Comments

Kementerian Pendidikan nafi tak sambung kontrak syarikat kawalan keselamatan

KUALA LUMPUR -- Kementerian Pendidikan (KPM) menafikan dakwaan Persatuan Industri Keselamatan Malaysia (PIKM) bahawa kementerian tidak menyambung kontrak syarikat perkhidmatan kawalan keselamatan yang tamat tempoh pada 31 Dis lepas. Dalam satu kenyataan, KPM menegaskan kesemua kontrak yang tamat tempoh itu telah ditender semula mengikut keperluan semasa, norma baharu kementerian. "KPM tidak pernah menganiaya mana-mana pihak dalam perkara ini dan tidak pernah menamatkan perkhidmatan 12,000 pengawal keselamatan seperti yang didakwa PIKM. "Kontrak yang ditender semula disertai oleh syarikat kawalan keselamatan yang berdaftar dengan Kementerian Dalam Negeri dan Kementerian Kewangan berdasarkan keperluan semasa seperti bilangan syif dan pekerja," kata kenyataan itu. KPM berkata syarikat yang pernah mendapat kontrak daripada kementerian sebelum ini juga menyertai proses tender yang dijalankan secara adil, telus dan penuh berintegriti. Presiden PIKM Datuk Seri Mu

Proton SUV open for booking at RM1,000

KUALA LUMPUR -- National car maker, Proton Holdings Bhd, is adopting an alphanumerical naming system for its future models beginning with the X70, its first sport utility vehicle (SUV). Sales and Marketing Vice-President Abdul Rashid Musa said the letter X is synonymous with crossover or SUV vehicles, while the number 70 denoted the size or class of the SUV and would enable Proton to adopt a logical system to add bigger or smaller models in the future. “This is the first time an alphanumerical naming system is used on a Proton model as our research shows it will make it easier to sell in ASEAN and other international markets, as there are no language barriers to overcome,” he told reporters at the preview of the new SUV. Proton Chief Executive Officer Dr Li Chunrong said Proton's adoption of the new naming system would make customer more focus on the brand name as compared with the model name. Abdul Rashid, who is also the Chief Executive Officer of Proton E

Mahkamah meriah dengan tahanan reman lindungi rumah urut

PUTRAJAYA -- Mahkamah Majistret di sini “meriah” susulan prosiding reman beramai-ramai melibatkan 14 individu termasuk tujuh penjawat awam berkaitan dakwaan memberi dan menerima wang sogokan bagi melindungi premis urut di Kuala Lumpur. Tujuh penjawat awam terbabit ialah tiga anggota polis termasuk seorang ketua balai, seorang pegawai bomba dan tiga petugas Dewan Bandaraya Kuala Lumpur. Mereka berserta tiga lagi orang awam yang disyaki berperanan sebagai ‘runner’ atau utusan dibawa ke mahkamah itu pada kira-kira 10 pagi menaiki bas Suruhanjaya Pencegahan Rasuah Malaysia (SPRM), menyusuli empat lagi individu dipercayai pemilik premis yang tiba di mahkamah itu kira-kira sejam sebelumnya, menaiki van SPRM. Prosiding reman terhadap kesemua mereka tamat pada kira-kira pukul 1.30 tengah hari dengan Majistret Ahmad Asyraf Mohammad Kamal membenarkan permohonan SPRM untuk menahan reman 10 daripada mereka termasuk tujuh penjawat awam terbabit sehingga Jumaat ini. Empat pem

Paper Buruk

Search This Blog