MY CLOSING BELL REVIEWS | FINANCIAL SECTOR PROCESSES THE WORST, KLCI DROPS 15.94 POINTS

On the last trading day of September, Malaysian stocks closed at the lowest point of the day and fell to the level of 1,424 points.

On the peripheral side, due to the Mid-Autumn Festival, the stock markets of China, Taiwan, and South Korea were closed, causing the market to calm down.

Furthermore, Hong Kong's Hang Seng Index surged 2.51% throughout the day, making it the best-performing stock market in the Asian region today. I believe investors are confident about China's “Golden Week”.

In terms of sector, the financial sector was also the worst performing sector, plummeting 1.27%.

The full-day trading volume was 3 billion shares, with a transaction value of RM2.4 billion.

The FTSE Malaysia All Stock Index closed at 10582.27 points, down 80.87 points.

There were 379 rising stocks, 578 falling stocks, 438 had no ups or downs, and 990 had no transactions.

Meanwhile, USD 5.1 was cashed out in ringgit at the level of 4.6912 in the afternoon.

Prime Minister Dato' Sri Anwar visited the head of state, His Majesty Sultan Abdullah this morning, which attracted close attention from all circles. However, the royal palace clarified that it was only a routine matter and reported on the matters of the weekly cabinet meetings.

Recently, there has been a wave of cabinet reshuffle. Anwar visited the country's royal palace for the second time this week to meet the head of state, causing people to speculate whether it is related to the cabinet reshuffle.

Amidst an atmosphere of speculation, the National Palace stated in an official Facebook post that Anwar's trip to the palace was to report the cabinet meeting to the head of state.

“Pre-cabinet meetings are weekly or routine events to allow the Head of State to discuss matters and issues relating to the government with the Prime Minister to discuss and exchange opinions.”

Generally, the prime minister meets the head of state before the cabinet meeting every Wednesday. Therefore, today is Anwar entering the palace again, causing everyone to speculate.

Earlier, there was news that Anwar is expected to reshuffle the cabinet after the Boranger by-election on October 7, and it is also rumored that Anwar will do so before presenting the 2024 budget on October 13.

The report said that Anwar kept the cabinet reshuffle secret; in senior government and in the political field, two versions of cabinet reshuffle are currently circulating, namely only minor reshuffles, including appointing the Minister of Domestic Trade and Living Costs to replace the late Dato' Sri Salahuddin.

The stronger version, however, is a major restructuring of some departments, including the Ministry of Human Resources and the Ministry of Natural Resources, Environment and Climate Change.

Against the backdrop of the Japanese government's relaxation of market intervention, Japan's debt position will record its worst quarterly performance in more than 20 years.

This reminds investors that the Japanese bond market outperformed the global bond market, to a certain extent as a result of support from public sector institutions such as the Bank of Japan.

According to data compiled by Bloomberg up to Thursday, Japan's treasury bonds fell 3% in the third quarter, the biggest drop since 1998.

Inflationary pressure persists, boosting the expectation that interest rates will remain high for a longer period of time. Global government bonds other than Japan plummeted 4.6% during the same period, the deepest decline in a year.

Although Bank of Japan officials said that stimulus measures need to be maintained to support the still unstable economic recovery, more and more people expect the country's central bank to end its negative interest rate policy early next year.

Bets on the Bank of Japan's shift to austerity and the decline in the global bond market have caused Japan's 10-year and 30-year treasury bond yields to rise to about a ten-year high this week.

The Bank of Japan announced unplanned debt purchases on Friday, showing its intention to slow the upward trend in treasury bond yields.

The 300 billion yen (approximately RM9.46 billion) operation will be the Bank of Japan's first unplanned debt purchase since August 3, but bonds are still falling, proving that this amount is not enough to form meaningful support for the market.

The company's revenue for the second quarter surged 92.16% year-on-year to RM3.13 billion.

In the first half of the fiscal year, Yunsheng Holdings made a total net profit of RM438 million, a year-on-year increase of 66.54%, while revenue soared to RM6.31 billion year-on-year.

Meanwhile, Yunsheng Holdings announced the payment of an interim dividend of 2 cents per share, excluding November 29 and December 15.

Yunsheng Holdings said that the main reason for its sharp increase in revenue was higher revenue from construction, procurement, construction, installation and commissioning (EPCIC) projects under its FPSO projects.

Among them, after officially signing the Agogo FPSO contract in February of this year, the company started construction projects and contributed revenue so far.

The subsidiary Als Technichem (Malaysia) Private Limited signed an equity purchase agreement with the seller TEXCHEM (TEXCHEM, 8702, Motherboard Industrial Co., Ltd.) and Merieux Nutrisciences to purchase 100% of MNSB's shares.

The company stated that it will raise funds through internal financing and is expected to be completed within 12 months after signing the agreement.

MNSB is a company providing chemical, microbiological, and environment-related analytical testing and consulting services.

Zheng Lijin, managing director of Selangor Iron Boat, revealed at the shareholders' meeting on Friday that the 19Trees project at Melavaldi Garden has 222 terraced houses and has now sold 75%; the Jia project in Shadengling has 324 terraced houses, and the purchase rate is as high as 88%.

She pointed out that the company's development projects in these two prime locations were carefully considered, because while bringing potentially high returns to investors, they also brought a luxurious lifestyle to local residents.

As for the Singaporean industry, she pointed out that a zero-hour occupancy permit (TOP) was obtained for the luxury apartment One Draycott in April, and the apartment in question is close to Sikat and Orchard Road.