Malaysian stocks rebound after two-day selldown
KUALA LUMPUR (Aug 6): Malaysia stocks rebounded on Tuesday after a two-day precipitous decline that wiped out market capitalisation worth RM153 billion.
The FBM KLCI opened up 5.66 points or 0.4% higher to 1542.14. At 9.05 am, the benchmark index was still up 3.6 points or 0.2% at 1,540.08. SD Guthrie Bhd (KL:SDG) was the biggest gainer in the 30-stock index, climbing 3% to RM4.42.
In the broader market, 405 stocks advanced, 296 retreated and 303 were unchanged, with 401 million shares worth RM289 million changing hands.
More to come.
- https://www.msn.com/en-my/money/topstories/malaysian-stocks-rebound-after-two-day-selldown/ar-AA1oi5Oi?ocid=00000000
Related
CIMB, MAHB, MRCB, IGB, Mah Sing, Tan Chong, EA Technique, MSM, Icon Offshore, Pansar, Axis REIT, TSH Resources, SkyWorld, Pharmaniaga
KUALA LUMPUR (Aug 31): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday: CIMB Group Holdings Bhd (KL:CIMB), Malaysia’s second-largest bank by assets, posted an 11% increase in net profit for the second quarter ended June 30, 2024 (2QFY2024) to RM1.96 billion from RM1.77 billion in 2QFY2023, due to higher net interest income and non-interest income. Net interest income rose 2% year-on-year...
MoneyIs 99 Speed Mart a growth stock or dividend stock?
KUALA LUMPUR (Aug 28): Much has been said about the business model of 99 Speed Mart Retail Holdings Bhd (KL:99SMART), whose Sept 9 listing on the Main Market of Bursa Malaysia would value the leading mini-market player at RM13.86 billion, or RM1.65 per share. Ahead of the largest initial public offering (IPO) in Malaysia in years, 99 Speed Mart has targeted a 50% dividend payout ratio from its profit after tax — supported by its strong cash...
MoneyMandatory EPF coverage can boost retirement adequacy, widen success of i-Saraan incentive
This article first appeared in The Edge Malaysia Weekly on August 19, 2024 - August 25, 2024 HAVING led the Employees Provident Fund (EPF) as its CEO before being tapped to become finance minister II, Datuk Seri Amir Hamzah Azizan knows all too well the state of retirement savings adequacy among EPF members and the need to expand the country’s pension system to close coverage gaps. “At the moment, the EPF is trying to convince the government to...
MoneyEPF’s 2024 dividend could hit 6% if 2H performs as well as 1H
This article first appeared in The Edge Malaysia Weekly on August 19, 2024 - August 25, 2024 THE Employees Provident Fund (EPF) has a good chance of matching its 2023 dividend payout of 5.5% for conventional savings in 2024, and possibly even hit 6% like in 2021, should income earned in the second half of the year remain above average. Having raked in RM36.7 billion distributable income in the first half of 2024 (1H2024), EPF should have secured...
MoneyBermaz Auto introduces XPeng G6 in Malaysia, focuses on brand presence over immediate profit
KUALA LUMPUR (Aug 27): Bermaz Auto Bhd (KL: BAUTO), which on Tuesday introduced Chinese electronic vehicle (EV) XPeng G6 to the Malaysian market, said the group will prioritise building the brand presence of the latest model over sales or profits in the near term, according to Bermaz group chief executive officer Datuk Francis Lee Kok Chuan. “The reason why we must choose XPeng is that they do not push for [sales] volumes. A lot of Chinese cars...
Money99 Speed Mart – an imminent consumer darling?
This article first appeared in The Edge Malaysia Weekly on August 19, 2024 - August 25, 2024 THE initial public offering (IPO) of 99 Speed Mart Retail Holdings Bhd is probably one of the most talked about topics among the investing fraternity. The listing exercise that will offer 1.428 billion shares will be the biggest on Bursa Malaysia in seven years, raising RM2.36 billion at RM1.65 per share. The amount is more than what was raised by MR DIY...
MoneyGovt looking at rationalising petrol, sugar subsidies after diesel — PMO
PUTRAJAYA (Aug 21): The government is looking to rationalise subsidies on petrol and sugar following recent cuts in diesel subsidies, said Nurhisham Hussein, the senior director of economics and finance at the Prime Minister’s Office (PMO). Total fossil fuels cost the Malaysian economy RM220 billion a year, including both direct and indirect costs, he said, citing the International Monetary Fund’s estimates. Congestion, environmental damage, and...
MoneyRinggit Rises To 18-Month High Against US Dollar
The ringgit has broken through the 4.40 key support level this week to reach new highs. Here's what happened. The post Ringgit Rises To 18-Month High Against US Dollar appeared first on iMoney Malaysia.
Money