Business Times : latesthttp://www.btimes.com.my enThursday, January 09, 2014, 10.42 AMGold futures open higher in early tradinghttp://www.btimes.com.my/articles/20140109100101/Article/ http://www.btimes.com.my/articles/20140109100101/Article/Thu, 09 Jan 2014 10:01:01 +0800Gold futures contracts on Bursa Malaysia Derivatives opened higher in thin trading today on fresh demand for the commodity, said a dealer.
One contract month was traded as at 9.30am.
Spot month January 2014 gained four ticks to RM129.50 a gramme while February 2014, March 2014 and April 2014 were all pegged at RM129.70 a gramme.
Turnover was at two lots while open interest totalled 907 contracts.
At 9.30am, physical gold rose 40 sen to RM125.13 a gramme from RM124.73 at 5pm yesterday.-- Bernama Gold up 40 sen at RM125.13 per grammehttp://www.btimes.com.my/articles/20140109101017/Article/ http://www.btimes.com.my/articles/20140109101017/Article/Thu, 09 Jan 2014 10:10:17 +0800The physical price of gold as at 9.30am stood at RM125.13 per gramme, up 40 sen from RM124.73 at 5pm yesterday.-- Bernama
Short-term rates to remain stablehttp://www.btimes.com.my/articles/20140109101324/Article/ http://www.btimes.com.my/articles/20140109101324/Article/Thu, 09 Jan 2014 10:13:24 +0800Short-term interbank rates are likely to remain stable today following Bank Negara Malaysia's intervention to absorb excess liquidity from the financial system.
The central bank estimated today's liquidity at RM29.930 billion in the conventional system and RM4.934 billion in Islamic funds.
Bank Negara will conduct four conventional money market tenders comprising RM500 million for seven days as well as RM1 billion each for 14 days, 21 days and 28 days.
It will also conduct two repo tenders comprising RM300 million for 32 days and RM200 million for 90 days.
Three Al-Wadiah tenders will also be conducted -- RM600 million for seven days, RM300 million for 14 days and RM400 million for 28 days.
At 4pm, the central bank will conduct a conventional overnight tender of up to RM25.9 billion and a RM3.7 billion Al-Wadiah overnight tender.-- Bernama FTSE Bursa Malaysia update: 10.30amhttp://www.btimes.com.my/articles/20140109095904/Article/ http://www.btimes.com.my/articles/20140109095904/Article/Thu, 09 Jan 2014 09:59:07 +0800At 10.30am today, there were 257 gainers, 287 losers and 252 counters traded unchanged on the Bursa Malaysia. The FBM-KLCI was at 1,830.68 down 0.62 of a point, the FBMACE was at 5,950.79 down 11.89 points, and the FBMEmas was at 12,675.73 down 2.56 points. Turnover was at 573.396 million shares valued at RM367.419 million.-- Bernama Ringgit opens lower against US dollarhttp://www.btimes.com.my/articles/20140109100317/Article/ http://www.btimes.com.my/articles/20140109100317/Article/Thu, 09 Jan 2014 10:03:17 +0800The ringgit opened lower against the US dollar in early trading on Thursday as demand shifted to the greenback following the release of minutes of the US Federal Reserve Dec 17-18 meeting, said a dealer.
At 9.02am, the ringgit was quoted at 3.2770/2800 per US dollar against 3.2745/2775 at close yesterday.
The greenback rose to a seven-week high against a basket of major
currencies on encouraging jobs growth in the US, said the dealer.
Meanwhile, the local note opened mixed against other major currencies.
The local unit was slightly higher against the Singapore dollar at 2.5746/5772 from Wednesday's 2.5749/5777, and was up against the euro at 4.4469/4519 from 4.4553/4607.
The ringgit eased against the British pound to 5.3900/3956 from yesterday's 5.3784/3846 and fell against the yen to 3.1263/1295 from 3.1168/1211.-- Bernama KL shares mixed in early tradehttp://www.btimes.com.my/articles/20140109102519/Article/ http://www.btimes.com.my/articles/20140109102519/Article/Thu, 09 Jan 2014 10:25:19 +0800Stocks on Bursa Malaysia were mixed in the early session today on the back of lacklustre performance on Wall Street overnight, dealers said.
Thirty minutes after trading, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.7 point lower at 1,830.6 after opening at 1,831.8.
Advancers led gainers 199 to 173, with 200 counters unchanged, 981 untraded and 26 others suspended.
Turnover amounted to 277.88 million shares worth RM139.6 million.
On the scoreboard, the Finance Index fell 38.621 points to 16,759.64, the Plantation Index declined 29.91 points to 8,684.72 and the Industrial Index was 2.33 points higher at 3,102.15.
The FBM Emas Index slipped six points to 12,672.3, the FBMT100 Index declined 7.9 points to 12,379.42, the FBM Ace dipped 4.23 points to 5,958.45, with the FBM 70 decreasing 21.7 points to 14,085.91.
HwangDBS Vickers Research said investors may be looking forward to a positive macroeconomic report when the industrial production index data is out at around noon.
The research house said it expects the local bourse to extend its technical rebound riding on follow-through bargain hunting activity.
Technically, the key FBM KLCI would probably recover further towards the immediate resistance line of 1,840 ahead.
Among actives, Iris rose one sen to 39 sen, China Stationery added 1.5 sen to 21 sen and Technodex increased half a sen to 18.5 sen.
Of the heavyweights, Maybank gained four sen to RM9.85 but Tenaga fell 10 sen to RM11.70 and Axiata lost one sen to RM6.76.-- Bernama KLCI futures traded lower in early sessionhttp://www.btimes.com.my/articles/20140109102725/Article/ http://www.btimes.com.my/articles/20140109102725/Article/Thu, 09 Jan 2014 10:27:25 +0800The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts (FKLI) on Bursa Malaysia Derivatives moved lower in sync with the cash market's performance, dealers said.
The benchmark FBM KLCI was 1.15 points lower at 1,830.15 as at 10.05am.
Spot month January 2014 declined 5.5 points to 1,832.5 and February 2014 slipped 7.0 points to 1,833.
March 2014 lost 6.0 points to 1,832 but June 2014 was flat at 1,828.5.
Turnover amounted to 1,644 lots while open interest stood at 39,683 contracts.-- Bernama S&P 500 ends flat in wake of Fed minuteshttp://www.btimes.com.my/articles/20140109103909/Article/ http://www.btimes.com.my/articles/20140109103909/Article/Thu, 09 Jan 2014 10:39:09 +0800NEW YORK: The SandP 500 finished nearly flat on Wednesday as equity indexes had a muted reaction to the minutes from the US Federal Reserve's most recent meeting, while Micron's strong results helped buoy the Nasdaq.
Minutes of the Fed's December 17-18 meeting, after which the US central bank announced its decision to begin trimming its monthly bond purchases, showed Fed officials were careful to tread lightly as they embarked on the tapering process.
The Fed's accommodative policies were the main driver of the SandP 500's rally of nearly 30 per cent in 2013. The programme is expected to keep a floor under stock prices for as long as it continues.
"The financial markets really didn't move at all, but typically history would suggest they need a little bit of time to just digest these things," said Darrell Cronk, regional chief investment officer of Wells Fargo Private Bank in New York.
"What we need to recognize is since December 18, we've seen a significant improvement in the economic data. If we get a 200,000 or north jobs report on Friday, it increases the likelihood, along with that improving data, the Fed continues its tapering process at the January meeting."
Earlier in the session, a report by ADP, a payrolls processor, showed US private-sector employers added 238,000 jobs in December, more than expected and the best read since November 2012, while November 2013 numbers were revised higher.
The Dow Jones industrial average fell 68.20 points or 0.41 per cent, to end at 16,462.74. The SandP 500 dipped just 0.39 of a point, or 0.02 per cent, to finish at 1,837.49. The Nasdaq Composite rose 12.43 points or 0.30 per cent, to close at 4,165.611.
The SandP 500 has fallen 0.6 per cent over the first five sessions of the year. According to the January effect watched by some market participants, the first month dictates the stock market's fortunes for the year - and the first five trading days are important in determining the outcome.
However, Credit Suisse data shows that any month, except October, could be used to determine the market's momentum 11 months ahead more than 50 per cent of the time.
Micron Technology shares soared 9.9 per cent to close at US$23.87 and helped bolster the Nasdaq a day after the chipmaker reported higher-than-expected quarterly profits.
Microsoft shares slid 1.8 per cent to US$35.76, pressuring the Dow. Microsoft is closer to naming a new chief executive officer, according to a source familiar with the board's thinking, but it lost a front-runner candidate on Tuesday when Ford's CEO Alan Mulally said he would not be going to the software giant.
Ford's stock rose one per cent to end at US$15.54.
Shares of JC Penney Co Inc plunged 10 per cent to close at US$7.37 after the department store chain said on Wednesday that it was "pleased" with its holiday season sales without giving specific results. That prompted many on Wall Street to say the retailer's sales may have declined last month.
Apollo Education Group Inc shares jumped 14.2 per cent to US$30.76 after the owner of the University of Phoenix reported a quarterly profit well ahead of Wall Street expectations.
The pharmaceutical sector remained a hotbed for mergers and acquisitions. Forest Laboratories agreed to buy privately held specialty pharmaceutical company Aptalis Holdings Inc for about US$2.9 billion. Forest Labs' stock surged 17.9 per cent to US$69.30 and ranked as the SandP 500's biggest gainer.
NuPathe Inc leaped 35.6 per cent to US$4.38 after the company said it received a buyout offer from Israel's Teva Pharmaceutical Industries Ltd for US$114 million plus milestone payments related to NuPathe's migraine treatment. Teva's US-listed shares shed 0.4 per cent to US$41.05.
Volume was modest, with about 6.05 billion shares traded on US exchanges, slightly below the 6.19 billion average so far this month, according to data from BATS Global Markets.
Declining stocks outnumbered advancing ones on the New York Stock Exchange by a ratio of 17 to 13, while on the Nasdaq, 13 stocks fell for every 12 that rose.-- Reuters
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