KUALA LUMPUR: The FBM KLCI bounced higher on Friday as investors picked up bargains although activity remained lacklustre. At the opening bell, the FBM KLCI rose 1.78 points to 1,603.86, on course to end the week above the key 1,600 support level. According to Rakuten Trade, there are heightened concerns over inflation after the US producer price...
KUALA LUMPUR The outflow of foreign funds from Bursa Malaysia continued for a seventh straight week, with a weekly net outflow of RM761.4mil. An exodus of foreign funds has been seen across key Asian markets, although MIDF Research reported there was net foreign buying of Asian equities in the eight markets it monitored for the first...
With Bitcoin briefly surpassing $100,000 and the S&P 500 posting its best year since 2019, Bank of America’s strategist warns of a potential market overshoot. U.S. stocks and cryptocurrencies are showing signs of overheating, with Bank of America Corp.’s Michael Hartnett warning of a potential “overshoot” in early 2025, Bloomberg reports. The S&P 500’s price-to-book ratio surged to 5.3 times...
Metaplanet is set to distribute Bitcoin to shareholders through a lottery system, aimed at incentivizing participation in its new initiative with SBI VC Trade. Tokyo-listed firm Metaplanet has unveiled a new shareholder benefit program, offering Bitcoin btc-0.43%Bitcoin rewards through a lottery system as part of its collaboration with SBI VC Trade, a subsidiary of SBI Holdings. In an X post on...
KUALA LUMPUR: The FBM KLCI bounced higher on Monday as announcements of corporate results are expected to pick up in the final week of the reporting period. The main index rose 4.09 points to 1,593.87, fuelled by a rise in plantation stocks. Malacca Securities Research said it anticipates positive trading activity in the gold and oil and...
KUALA LUMPUR: The domestic market remained wobbly on Wednesday as the Trump-inspired rally on Wall Street took a breather while investors digested recent gains. At the opening bell, the benchmark FBM KLCI was 0.18 points higher at 1,608.61, but slipped slightly to 1,604.83 in the first five minutes of trading. The local bourse has been trading lower...
KUALA LUMPUR: Bursa Malaysia maintained its lead at midday as the US presidential election went underway with most key Asian markets nudging higher. At 12.30pm, the benchmark FBM KLCI gained 5.81 points to 1,626.51 with banks and utilities lifting the market. Overall, there were 591 gaining stocks on the market compared to 349 declining. The share turnover was...
KUALA LUMPUR: Bursa Malaysia is poised to enter a consolidation phase after riding high on strong economic growth and optimism on an interest rate cut in the US. The FBM KLCI opened 0.89 points higher at 1,628.38 after Wall Street posted a mixed performance overnight, indicating the current rally may be taking a breather. "After hitting three-year...
KUALA LUMPUR: Investors are continuing to take money off the table following a mixed performance on Wall Street, in response to a slightly dovish message by the US Federal Reserve. The FBM KLCI dropped one point to 1,574.97 at the open as investors digested the news of the latest Fed guidance. Overnight, the Fed stayed put on...
According to Markus Thielen, head of research at 10x Research, risk assets like crypto and stocks could see a “significant price correction” in the coming weeks. Sharing his insights in an April 16 investor note, Thielen wrote that the cryptocurrency market is moving towards a “crucial tipping point,” which could lead to a notable correction in prices....
