Business Times : latesthttp://www.btimes.com.my enTuesday, November 19, 2013, 10.30 AMKL shares traded higher in early sessionhttp://www.btimes.com.my/articles/20131119100331/Article/ http://www.btimes.com.my/articles/20131119100331/Article/Tue, 19 Nov 2013 10:03:31 +0800Shares on Bursa Malaysia were traded higher, in early session today, in line with firmer regional market sentiment, a dealer said.
Forty minutes after opening, the FBM KLCI was 4.5 points better at 1,796.89, after opening at 1,794.46.
Gainers led losers 211 to 145, with 237 counters unchanged, 1,001 untraded and 16 others were suspended.
Turnover was mild with 378.33 million shares traded valued at RM160.2 million.
"Slowly but steadily, our Malaysian bourse could be grinding its way higher ahead," HwangDBS Vickers Research said in a note.
The research house said the benchmark FBM KLCI will likely inch a little closer towards the psychological mark of 1,800.
Over on Wall Street, major US stock indices were under marginal selling pressure last night, closing between -0.9 per cent and +0.1 per cent.
Essentially, profit-taking activity set in after the key market barometers hit new record levels last week, HwangDBS Vickers said.
The Finance Index improved 12.84 points to 16,544.3, the Plantation Index rose 14.28 points to 8,782.95 and the Industrial Index was 3.93 points higher at 3,100.19.
The FBM Emas Index increased 25.29 points to 12,517.9, the FBMT100 Index advanced 23.91 points to 12,239.74, the FBM Ace added 31.03 points to 5,706.11 and the FBM 70 rose 0.04 of a point to 14,293.66.
Among actives, The Media Shoppe and Tiger Synergy were flat at eight sen and 27.5 sen, respectively, while Malaysia Airlines fell 1.5 sen to 33 sen.
As for heavyweights, Maybank and Sime Darby declined one sen each to RM9.82 and RM9.56, respectively, but Axiata gained one sen to RM6.78.-- Bernama Ringgit opens higher against US dollarhttp://www.btimes.com.my/articles/20131119102557/Article/ http://www.btimes.com.my/articles/20131119102557/Article/Tue, 19 Nov 2013 10:25:57 +0800The ringgit was higher against the greenback, in morning trade today, supported by commercial buying, dealers said.
At 9.35am, the ringgit rose against the U.S dollar to 3.1875/1895 compared with yesterday's close of 3.1880/1910.
Meanwhile, the ringgit was mostly lower against other major currencies.
The local note eased against the Singapore dollar to 2.5586/5608 from Monday's 2.5563/5608 and slipped against the Japanese yen to 3.1977/2007 from 3.1918/1955 yesterday.
The ringgit also declined against the euro to 4.3089/3122 from yesterday's 4.3032/3079 but gained against the British pound to 5.1383/1427 from 5.1458/1516 yesterday.-- Bernama Gold futures opens lowerhttp://www.btimes.com.my/articles/20131119095856/Article/ http://www.btimes.com.my/articles/20131119095856/Article/Tue, 19 Nov 2013 09:58:56 +0800Gold futures contract opened lower today on lack of buying demand for the precious metal, dealers said.
As at 9.45am, November 2013 shed 7 ticks to RM131.75 per gramme while December 2013 declined 25 ticks to RM131.25 per gramme with 86 lots traded.
Open interest stood at 885 contracts.-- Bernama FTSE Bursa Malaysia update: 10.30amhttp://www.btimes.com.my/articles/20131119095722/Article/ http://www.btimes.com.my/articles/20131119095722/Article/Tue, 19 Nov 2013 09:57:24 +0800At 10.30am today, there were 297 gainers, 195 losers and 277 counters traded unchanged on the Bursa Malaysia. The FBM-KLCI was at 1,805.79 up 13.40 points, the FBMACE was at 5,708.88 up 33.80 points, and the FBMEmas was at 12,565.22 up 72.60 points. Turnover was at 572.946 million shares valued at RM420.801 million.-- Bernama KLCI futures traded higher in early sessionhttp://www.btimes.com.my/articles/20131119101304/Article/ http://www.btimes.com.my/articles/20131119101304/Article/Tue, 19 Nov 2013 10:13:04 +0800The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract (FKLI) on Bursa Malaysia Derivatives was higher, in early session today, in sync with the uptrend in the underlying cash market, dealers said.
As at 10am, spot month November 2013 was 3.5 points better at 1,798.5, December 2013 added four points to 1,797.5, March 2014 garnered three points to 1,796.5 and June 2014 rose 3.5 points to 1,796.
Volume stood at 1,202 lots while open interest totalled 37,687 contracts.
The underlying FBM KLCI was 12.47 points higher at 1,804.86 after an hour of trading.-- Bernama Gold down RM1.23 per grammehttp://www.btimes.com.my/articles/20131119100105/Article/ http://www.btimes.com.my/articles/20131119100105/Article/Tue, 19 Nov 2013 10:01:05 +0800The physical price of gold as at 9.30am stood at RM126.11 per gramme, down RM1.23 from RM127.34 at 5pm yesterday.-- Bernama
Steady short-term rates seenhttp://www.btimes.com.my/articles/20131119110112/Article/ http://www.btimes.com.my/articles/20131119110112/Article/Tue, 19 Nov 2013 11:01:12 +0800Short-term interbank rates are expected to be steadier today as Bank Negara Malaysia continues to intervene to reduce excess liquidity from the financial system.
The central bank estimated today's liquidity at RM25.479 billion in the conventional system and RM6.794 billion in Islamic funds.
BNM will conduct three conventional tenders comprising RM1.5 billion each for seven and 28 days, respectively, and a RM1 billion for 14 days, as well as, three repo tenders comprising RM380 million for 30 days, RM370 million tender for 45 days and RM100 million for 92 days.
Besides, the central bank would also call for three Al-Wadiah
tenders comprising RM300 million for seven days, RM400 million for 14 days and RM800 million for 28 days, as well as, a RM300 million Commodity Murabahah Programme for 30 days.
At 4pm, the bank will undertake a conventional overnight tender of up to RM20.6 billion and a RM5.3 billion Al-Wadiah overnight tender.-- Bernama Dow, S&P pull back from recordshttp://www.btimes.com.my/articles/20131119101108/Article/ http://www.btimes.com.my/articles/20131119101108/Article/Tue, 19 Nov 2013 10:11:08 +0800NEW YORK: The SandP 500 and the Nasdaq ended lower on Monday while the Dow failed to close above its milestone level of 16,000 as stocks sold off late in the session following Carl Icahn's cautious comments on the equities market.
The Dow and the SandP 500 retreated from record levels with less than an hour to go in Monday's session. The Nasdaq, which had been down slightly for most of the day, fell 1.1 per cent to a session low.
Speaking at the Reuters Global Investment Outlook Summit, Icahn said he is "very cautious" on the stock market, saying he could see a "big drop" because earnings at many companies are fueled more by low borrowing costs rather than the strength of management.
He also hinted at his plan for Apple Inc, the most valuable US stock by market value, saying he does not want to fight with the management of the iPhone maker. He also said he has no plans to walk away from his investment. The stock extended losses following his comments, ending down 1.2 per cent at US$518.63 on Monday.
The Nasdaq was hammered by a sell-off in social media and cloud-related stocks, including Facebook, down 6.5 per cent at US$45.83.
Tesla also extended losses, down more than 10 per cent at US$121.58. The electric car maker's stock has lost nearly 24 per cent for the month so far.
"People are selling Nasdaq stocks. Tesla has become the poster child for momentum, high-valuation names. It's been under pressure since the earnings report. Its (weakness) has spilled over into other names," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
The Dow Jones industrial average rose 14.32 points, or 0.09 percent, to end at 15,976.02. The Standard and Poor's 500 Index slipped 6.65 points, or 0.37 per cent, to finish at 1,791.53. The Nasdaq Composite Index slid 36.90 points, or 0.93 per cent, to end at 3,949.07.
The SandP 500 had earlier hit 1,802.33 and the Dow touched 16,030.28, their highest levels ever. On Friday, both closed at record highs to mark their sixth straight week of gains.
Shares of another social media giant, Twitter Inc, dropped 6.5 per cent to US$41.14 after a downgrade by Wunderlich Securities.
But Boeing Co shares rose 1.7 per cent to US$138.36 after the US planemaker, at the Dubai Airshow on Sunday, announced commitments for a total of 259 of its new 777 jets. Worth about US$100 billion at list prices, it is the largest combined order in Boeing's history. The stock rose as high as US$142.00 earlier.
A number of US Federal Reserve speakers offered more insights into the central bank's stimulus. The latest was Charles Plosser, president of the Philadelphia Fed, who said improved economic and labor market conditions suggest the Fed should set a fixed dollar amount on its current bond-buying programme and end the program when that amount is reached.
William Dudley, the president of the Federal Reserve Bank of New York, said on Monday that he was becoming "more hopeful" about the US economy.
But with intervention from the Fed likely to keep interest rates near zero for the foreseeable future, equities are expected to continue to attract yield-seeking investors, even after the Fed begins to scale back its asset purchases.
About 5.4 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, slightly below the five-day average closing volume of about 5.8 billion, according to BATS exchange data.
On the New York Stock Exchange, decliners beat advancers by a ratio of nearly 3 to 2. On the Nasdaq, 16 stocks fell for every nine that rose.-- Reuters
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