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KUALA LUMPUR (July 1): Malaysia, like most Asian markets, didn’t escape the inventory fairness rout within the first half of this yr that was fuelled by the worldwide tightening sparked by an aggressive US Federal Reserve and Ukraine-Russian warfare.
The FBM KLCI dropped 7.4% yr to this point — extra so than the YTD interval in 2020, when the pandemic struck and the benchmark index fell 5.53%. On June 29 — the deadline for knowledge generated for this text — the inventory closed at 1,451.48, because it hovered across the lowest ranges seen since Might 2020. Simply final week, it skidded to as little as 1431.1 on June 22.
Nonetheless, it is not probably the most affected amongst its regional friends. That spot was occupied by South Korea, the place the Kospi fell 20.14%, weighed by a pointy decline in semiconductor shares.
It was adopted by Vietnam’s Ho Chi Minh Inventory Index (-18.70%), the Taiwan Capitalization Weighted Inventory Index (-16.35%), the Shenzhen Inventory Trade Composite Index (-13.27%), the Philippine Inventory Trade Index (-11.50%), the Shanghai Inventory Trade Composite Index, the FBM KLCI (-7.4%), Japan’s Nikkei 225 (-6.90%), Hong Kong’s Dangle Seng Index (-5.99) and Thailand’s SET Index (-4.31%).
In distinction, solely two regional markets posted constructive returns: Indonesia’s Jakarta Composite Index rose 5.48%, whereas Singapore’s Straits Occasions Index gained 0.36%.
Again dwelling, the FTSE Bursa Malaysia ACE Index declined 24.6%, the Bursa Malaysia Mid 70 Index dropped 12.11%, whereas the FBM Small Cap Index fell 9.19%.
The broader FTSE Bursa Malaysia High 100 Index, which fell beneath 10,000 degree for the primary time on June 22 at 9,952.340 — a degree not seen since Might 2020 — additionally recorded a decline of 8.42%.
Of the 13 sectors within the native market, solely three sectors — plantation, monetary providers and actual property funding belief (REIT) — recorded good points, rising by 6.39%, 3.19% and 0.83% respectively.
The largest loser was the expertise sector, which misplaced 35.13%, adopted by healthcare (-27.48%) and telecommunications and media (-13.17%).
The highest gainers
Among the many massive cap corporations with greater than RM5 billion market capitalisation, AMMB Holdings Bhd topped the listing of gainers by way of proportion rise, because it climbed 19.24% YTD. Traders have anticipated banks to report higher earnings development on rate of interest hike, in addition to restoration of the financial system.
Different massive cap gainers had been: building outfit Gamuda Bhd (+17.93%), QL Sources Bhd (+17.07%), Sime Darby Plantation Bhd (+15.16), IJM Corp Bhd (+14.47%), Carlsberg Brewery Malaysia Bhd (+11.65%), and Malaysia Airports Holdings Bhd (+11.20%).
Berjaya Meals Bhd (BFood), Petron Malaysia Refining & Advertising and marketing Bhd and Hengyuan Refining Co Bhd had been amongst gainers for the group of corporations with RM1 billion to RM5 billion market cap.
BFood — the highest gainer on this class which hit a report excessive of RM4.86 on June 10 — gained 86.98% YTD to shut at RM4.02. In the meantime, shares of oil refiners Petron and Hengyuan climbed 33.33% and 29.97% respectively, as refining margins improved amid escalating crude oil costs.
Among the many mid-caps (RM500 million to RM1 billion), Full Logistics Providers Bhd, which hit an all-time excessive of RM4.70 in early Might, surged 57.37% YTD; adopted by Kejuruteraan Asastera Bhd (+56.86%), Cocoaland Holdings Bhd (+40.38%) and Energy Root Bhd (+28.21%).
Among the many small caps (RM100 million to RM500 million), Vortex Consolidated Bhd (+192.31%) topped the listing, adopted by Texchem Sources Bhd (+160.34%) and Bonia Corp Bhd (+103.25%).
As for prime gainers amongst counters with market cap of lower than RM100 million, Propel World Sdn Bhd (+1,000%) and Trive Property Bhd (+83.33%) led the listing.
The largest losers
Of the large caps with over RM5 billion market cap, the largest declines had been seen amongst glove corporations, specifically High Glove Corp Bhd (-56.76% to RM1.12) and Hartalega Holdings Bhd (-48.52% to RM2.95), as a result of decrease demand for gloves and decrease common promoting costs, as Covid-19 enters the endemic part in most elements of the world.
These had been adopted by main technology-related counters, which skilled headwinds from provide chain disruptions, specifically Malaysian Pacific Industries Bhd (-43.27%), Inari Amertron Bhd (-34.5%) and Vitrox Bhd (-28.11%).
Heavyweight telco corporations weren’t exempted from the highest losers listing amongst these mega massive caps, with Axiata Group Bhd dropping 31.25%, adopted by Maxis Bhd (-31.17%), and Digi.Com Bhd (-21.56%), amid delays in coming to an settlement with the federal government over Digital Nasional Bhd’s 5G rollout plan.
For shares within the RM1 billion to RM5 billion market cap class, the largest laggards had been: Mi Technovation Bhd, which misplaced 53.25% YTD, UWC Bhd (-46.06%), Greatech Know-how Bhd (-45.02%), Unisem (M) Bhd (-43.14%), Hong Seng Consolidated Bhd (-40.89%) and Frontken Corp Bhd (-39.75%).
Within the mid-cap RM500 million to RM1 billion class, JF Know-how Bhd (-51.05%), Kobay Know-how Bhd (-50.91%) and Supercomnet Applied sciences Bhd (-43.28%) topped the losers listing.
As for these within the RM100 million to RM500 million class, the worst losers had been Dataprep Holdings Bhd (-74.07%), adopted by troubled oil and gasoline providers supplier Serba Dinamik Holdings Bhd, which hogged the limelight amid its audit points and run-ins with the regulators (-72.86%). They had been adopted by Euro Holdings Bhd (-68.04%) and Vinvest Capital Holdings Bhd (-60.87%).
Amongst these with lower than RM100 million market cap, BSL Corp Bhd (-88.73%), Jerasia Capital Bhd (-84.38%) and Nylex Malaysia Bhd (-79.86%) had been the largest losers.
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