MARKET ROUNDUP
Hi I am an NRI residing in malaysia , singapore.Presently a trader in Malaysia and singapore equities and futures. I would like to share with the Expats from malaysia and singapore who are based in india and also from india who are based in malaysia/singapore on the plantation and equities market in our region. I am also intending to explore oppertunities in the same trade in India. I am confident this forum will give us this opportunity.
CI closed slightly above the 1,100 psychological barrier
Share prices on Bursa Malaysia extended their losses on persistent selling, mostly on plantation stocks following the fall in crude oil and crude palm oil prices. The losses pushed the 100-stock KL Composite Index into the negative zone and was perilously close to falling below the 1,100-point psychological barrier, making it the second worst performer among all the major Asian markets after Taiwan, also weighed down by falling consumer sentiment and uncertainties in the political developments. Trading volume was lacklustre with only 350.87 mln shares worth RM994.63 mln changing hands for the day as investors stayed on the sidelines amid internal and external uncertainties. Market breadth was negative with decliners outpacing advancers by 370 to 194, while 241 stocks traded unchanged.
Malaysia’s manufacturing sales in May rose 14.8% from a year earlier, driven by higher demand for refined petroleum products, iron and steel products. Sales totalled RM48.7 bln in the month, grew 1.7% from April on a seasonally unadjusted basis. There were five major industries whose sales value rose significantly, including the manufacture of refined petroleum products, the manufacture of basic iron and steel products and the manufacture of other basic industrial chemicals. In the first five months of this year, the sales value of the manufacturing sector posted a double-digit growth of 15.4% to RM235.7 bln. In the same month, salaries and wages paid rose 4.4% y.o.y. to RM2.1 bln.
Source : Jupiter Securities Research
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