TSLA
Tesla
-- 379.280 NVDA
NVIDIA
-- 138.310 RGTI
Rigetti Computing
-- 20.0000 PLTR
Palantir
-- 75.190 AMD
Advanced Micro Devices
-- 120.630 MY Midday Insights | LACK OF FRESH LEADS, KLCI DROP 2.77 POINTS
The market lacks catalysts and the composite index fell 2.56 points.
Although the dust has settled on the state elections in six states, some large-cap stocks continue to be sold, and the performance of the Malaysian composite index remains weak, consistent with the weak performance of regional exchanges.
As of 12:30 p.m., the composite index closed at 1454.60 points, down 2.56 points or 0.18%.
The half-day trading volume was 2.03 billion shares, with a turnover of 0.906 billion ringgit.
There were 455 advancing stocks, 372 declining stocks, 369 unchanged stocks, and 1133 stocks with no trades.
The exchange rate of the ringgit at 12:30 p.m. was 4.6140 to 1 US dollar.
source: Nanyang Siang Pau, Klse Pulse
Market focus
Is the result of the state election a blessing or a curse? Sin stocks rose first and then fell.
Is it maintaining the status quo with a 3-3 tie to calm the market, or is the expansion of the Green Wave causing more insecurity for investors? Investors this morning were caught in a tug-of-war on sin stocks, which were heavily influenced by the Green Wave, and there was intense volatility in gaming and beer stocks.
On the first trading day after the end of the state elections in six states, investors initially entered the sin stock sector with an optimistic attitude. The Genting twin giants and two +10,000 numbered stocks continued the momentum of their pre-election "run", opening high by 1.14% to 2.56%.
However, the significant expansion of the Islamic party's power has caused market unrest, combined with investors taking profits at high levels, sin stocks' morning rally could not be sustained. As of 11:10 am, the Genting twin giants and two beer stocks have already given back most of their gains.
The two +10,000 numbered stocks have also experienced a slight decline, but the magnitude is not significant.
Compared to other stocks, the +10,000 numbered stocks are more sensitive to the Green Wave's impact; after the ruling party in Kedah and Penang, the betting outlets for +10,000 numbered stocks have been closed in these two states.
Foreign funds have been net buyers of Malaysian stocks for 5 consecutive weeks.
Foreign funds have been net buying Malaysian stocks for 5 consecutive weeks, and have been net buying on a daily basis, with a net purchase amount reaching 0.4655 billion ringgit.
According to the capital flow report released on Monday by MIDF Research, foreign funds were net buyers every day during the week of February 24th.
Foreign funds net purchased 0.8 million ringgit on Monday, 84.5 million ringgit on Tuesday, 0.2097 billion ringgit on Wednesday, 66.3 million ringgit on Thursday, and 0.1042 billion ringgit on Friday.
The top three sectors where foreign funds were net buyers are financial services (0.2743 billion ringgit), technology stocks (66 million ringgit), and plantation stocks (65 million ringgit).
As for the top three sectors where foreign funds were net sellers, they are medical care stocks (72.2 million ringgit), real estate investment trusts (22 million ringgit), and energy stocks (0.7 million ringgit).
Since the beginning of the year, foreign funds have sold a net amount of 2.460 million ringgit.
In addition, following a net sale of 0.3219 billion ringgit last week, local institutional investors have been net sellers of Malaysian stocks for 5 consecutive weeks. They only made a net purchase of 23 million ringgit on Monday, and were net sellers on the remaining trading days.
Since the beginning of the year, local institutional investors have made a net purchase of 2.680 million ringgit.
Like local institutions, local retail investors have been net selling horse stocks for five consecutive weeks, with net selling amounting to 0.1437 billion ringgit, much higher than the 8.5 million ringgit in the previous week.
Since the beginning of the year, local retail investors have net sold 0.2 billion and 20.1 million ringgit.
Concerns over the country garden's bond default have led to a comprehensive decline in both the Chinese and Hong Kong stock markets.
The latest credit data released by China is weak, coupled with the liquidity crisis of country garden, the leading private real estate enterprise, which quickly escalated last week, casting a shadow over the prospects of the mainland and Hong Kong stock markets. The Hang Seng Index, the benchmark of the Hong Kong stock market, has given back all its gains since the Communist Party Politburo meeting in July.
The Hang Seng Index fell below the 9000-point mark on Monday, erasing its brief surge to the 20,000-point mark at the end of July, which saw a 7.6% increase, under the signal of policy support from the Politburo. The Hang Seng Tech Index also fell more than 3% on Monday, reaching its lowest point in three weeks, following the decline of Chinese concept stocks.
The main A-share indexes are all weak, with the CSI 300 Index falling the most at 1.4%, almost wiping out all its gains since the Politburo meeting.
Driven by the signal of support for the real estate industry from the Politburo meeting and the vibrant capital market, the stock markets in mainland China and Hong Kong temporarily rebounded, with active trading.
However, this month, country garden's debt crisis has become the headline news in the financial market, rekindling concerns about the prospects of the real estate and economy. China's announcement of the lowest RMB loan growth in July since 2009, coupled with recent U.S. investment restrictions on China, has also made market sentiment cautious.
Chinese real estate stocks continued to decline on Monday, with the Bloomberg industry research showing a 4.1% drop in the Chinese real estate index, heading for a third consecutive decline. Country Garden fell more than 15% at one point, with a cumulative decline of over 40% in eight days. At least 10 RMB bonds under Country Garden were suspended on Monday, and the company announced plans to hold a meeting for bondholders on the redemption arrangements.
In addition to concerns about real estate, Nacity Property Service Group and KBC Corporation, Ltd. announced that the Zhongrong trust wealth management products were overdue for redemption, adding further turbulence to the financial industry. KBC Corporation, Ltd. saw an 8.2% decline in Shanghai, the largest intraday decline since March.
Individual stock focus
$HARNLEN (7501.MY)$Signed a memorandum of understanding with Jutawan company yesterday to collaborate on pineapple cultivation.
According to the announcement, Jutawan company primarily undertakes third-party contracting business, as well as agricultural operations, such as agricultural tools, fertilization, pest control, and supply of packaging boxes and wooden fences.
According to the memorandum, the two parties will exchange consultations for agricultural operations, including but not limited to their respective responsibilities, cost estimates, location, and expertise. The memorandum will take effect within 6 months of signing.
According to the announcement, Jutawan company is the largest exporter of pineapple products in the locality. After reaching a collaboration, KBC Corporation, Ltd. can focus on developing pineapple cultivation without worrying about subsequent sales.
Hanlian institution has just acquired land from Pahang Yunbing on June 1st for expanding the pineapple business, and the memorandum is consistent with the institution's business strategy.
At the same time, Hanlian institution requested to suspend trading between 9:00 and 10:00 on the 14th to announce the above information.
#volatility
#stock market
#KLSE
#state election
#state election
source: Nanyang Siang Pau, Klse Pulse
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Currently working at Nanyang Siang Pau.
Outside of work, enjoys stay active and exploring new investment opportunities.
263Followers
19Following
935Visitors
Follow
Troy Wee : Thank you, teacher, for sharing your analysis
Jungle lee OP Troy Wee : im not teacher, im just sharing , lets learn together.
WAIKEAT Troy Wee : 1199
Troy Wee Jungle lee OP : Thank you, teacher, for sharing. I also read some very useful stock market information from the teacher. If you ask us to attend class, you are a teacher. You are humble, thankful
102261841 Troy Wee : hi
103977173 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Andy Lim888 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
73724046 : wow
Jungle lee OP 73724046 : Wow?
Aiman Sabirin : new knowledge for me, tq
View more comments...