FBM KLCI rebounds after five straight days of losses

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...

Foreign selling on Bursa Malaysia continues with net outflow of RM761.4mil

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...

FBM KLCI rises as reporting period in full swing

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...

Bursa Malaysia remains on a slide as US rally takes breather

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...

Broad-based buying on Bursa Malaysia as regional sentiment stays positive

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...

Trading on Bursa Malaysia likely to remain cautious this week

KUALA LUMPUR: Cautious trading is set to continue on Bursa Malaysia this week, driven by the bearish outlook on the global economy amid rising geopolitical tensions in the Middle East. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said despite Hong Kong’s Hang Seng continuing its upward trend, supported by optimism surrounding China’s ongoing...

KPDN collaborates with MCMC, ISP to monitor online business promotions, advertisements

PORT DICKSON: The Domestic Trade and Cost of Living MInistry (KPDN) is working closely with the Malaysian Communications and Multimedia Commission (MCMC) and internet service providers (ISPs) to monitor business promotions and advertisements involving online transactions. Its Minister Datuk Armizan Mohd Ali said that from 2018 until Aug 15, 4,324 websites were blocked for various offences...

Bursa ekes out slight gain as rally slows

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...

Soft start on Bursa following Fed comments

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...

Trader claims Bitcoin algo netted $71k profits, community disagrees

Crypto influencer Rekt Fencer shared a Bitcoin trading algorithm built with OpenAI’s ChatGPT, but users are skeptical about the bot’s results. Trading algorithms are not exclusive to cryptocurrencies; they are tools in any financial market that automate processes. The idea revolves around establishing presets based on advanced mathematical models to execute trades aligned with pre-determined rules...