Market News & Events

KUALA LUMPUR (March 19): Top Glove Corp Bhd's net profit in the second quarter ended Feb 29, 2020 (2QFY20) rose 9.35% to RM115.68 million from RM105.79 million in the year-ago quarter, thanks to tax incentives from ongoing expansion and higher revenue.

KUALA LUMPUR (March 19): The FBM KLCI lost 1.52% at mid-morning as Malaysia Airports Holdings Bhd (MAHB) and Genting counters fell, amid rising worries over Covid-19, gloomy economic outlook, crude oil below US$30 as well as weakening ringgit.

KUALA LUMPUR (March 19): Stocks in the energy sector on Bursa Malaysia fell in active trade at mid-morning today as crude oil prices continued to hover below US$30 per barrel with a possible glut in April.

KUALA LUMPUR: Bursa Malaysia was higher in the early trading session today as an overnight rebound in the US markets sparked bargain hunting activities in the domestic market.

KUALA LUMPUR: No one seems to be able to escape unscathed from the recent global equity rout, with no exception among the country’s major institutional funds like the Employees Provident Fund (EPF), Permodalan Nasional Bhd (PNB) and Retirement Fund Incorporated or Kumpulan Wang Persaraan (Diperbadankan) (KWAP).

KUALA LUMPUR: It has been almost a week since Covid-19 was declared a pandemic, triggering an avalanche of panic selling across global markets, including Bursa Malaysia. And it does not look like the bloodbath is ending anytime soon, as the clamour of an imminent global recession gains momentum.

KUALA LUMPUR: The ringgit yesterday continued its downtrend that started since last week. The local currency depreciated by 5.98% to 4.3500 at the time of writing against a strengthening US dollar, the worst level since April 2017.

LONDON/SYDNEY (March 16): Stock markets were routed and the US dollar stumbled on Monday after the Federal Reserve slashed US interest rates in an emergency move and its major peers offered cheap US dollars in a bid to prevent global lending markets seizing up.

KUALA LUMPUR (March 16): The FBM KLCI closed down 64.12 points or 4.77% at 1,280.63 today after plunging in afternoon trades with world equities as investors evaluated the effectiveness of global central banks’ monetary policies to mitigate the economic impact of the Covid-19 pandemic and after China reported its latest industrial output numbers, which fell below market forecast.