Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing | Archived News |

 

  Welcome to Bernama Banking & Finance Special Page     
 
US-North Korea Tensions Will Continue To Weigh On Bursa Malaysia Next Week
Last update: 12/08/2017

By Zairina Zainudin

KUALA LUMPUR, Aug 12†(Bernama) -- Bursa Malaysia is likely to extend its downward trend next week as risk appetite for equities†remains sour, with market players awaiting some positive developments from the United States-North Korea geopolitical tensions to upturn sentiments.

Affin Hwang Investment Bank Vice President and Head of Retail Research,†Datuk Dr Nazri Khan Adam Khan,†said cautious sentiments, due to the irrational nuclear threat, coupled with falling commodity prices and a weaker ringgit†against the US dollar, would continue to push investors to†the sidelines.

Nevertheless, he said the gloomy market condition was expected to be temporary as analysts opined that ?it's just a rhetoric†approach and rationality (of launching missiles) will prevail.?

"We have a weak backdrop at this moment.

"Locally, the fundamentals are still strong with the†recent strong export growth, one of the best performances, and positive†corporate earnings announcements. I think,†Bursa will†neutralise next week,"†he told Bernama.

Nazri†Khan said†support level for the market bellwether next week would be†at 1,760 and 1,750, citing the current situation provided a great buying opportunity for investors to accumulate undervalued stocks.

For the week just-ended, the benchmark FBM KLCI†eased 7.57 points to 1,766.96 from 1,774.53 last week .

The trading movement was influenced by the volatility of oil prices, as well as external development, particularly the escalating tensions between the US and North Korea, which spooked investors to flee†to†safety.

US†President Donald Trump has vowed to respond aggressively to any threats from North Korea and Pyongyang is seriously considering†missiles strike on Guam in response to Trump's threat.

On a weekly basis, the FBM Emas Index was 117.43 points lower at 12,502.44,†FBMT 100 Index declined 92.27 points to 12,175.92, FBM Emas Syariah Index fell 131.54†points to 12,612.47, FBM 70 dropped 263.2†points to 14,693.55 and the FBM Ace erased 267.63 points to†6,308.78.

On a sectoral basis, the Finance Index gave up 105 points to 16,717,†Plantation Index†decreased 62.93 points to 7,787.85, and the Industrial Index fell 31.23†points to 3,234.1.

Total turnover surged to 8.45 billion units worth RM9.08†billion, from†7.31 billion units valued at RM9.79 billion last week.

Main Market volume improved to†5.57 billion shares worth RM8.35 billion from†5.10 billion shares†valued at RM8.87 billion last Friday.

Warrants volume shrank to 826.86 million units worth RM125.62 million from†1.20 billion units valued at RM173.04 million previously.

The ACE Market turnover fell†to 1.99 billion shares worth RM568.7†million from†2.40 billion shares valued at RM733.74 million.

-- BERNAMA

 <Back>

Maybank Islamic Named Best Global Islamic Financial Institution 2017
NCCIM: Malaysia, Qatar Can Jointly Develop Islamic Finance 2.0

 
KLIFF 2017 Focuses On Wakaf Fund Development

AAGI Named Claims Fraud Management Team Of The Year
Tax Relief For Insurance Will Be A Big Breakthrough, Says Allianz Life CEO

 
Takaful IKHLAS Chieftain Bags Best CEO 2017 Award

MIDDAY, THURSDAY, OCT 19
US 4.2250/2270
S'pore 3.1087/1113
100 Yen 3.7399/7427
Sterling 5.5808/5847
Euro 4.9851/9879
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
  Main | News | Insurance

© 2017 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution