News for RHB Capital Berhad (RHBAF)

KUALA LUMPUR: The High Court today was told that it is incorrect for the prosecution to say that former prime minister Datuk Seri Najib Tun Razak (pix...

The gains on glove makers failed to lift the FBM KLCI much, as market interest is mainly in the low liners and ACE Market-listed counters. The benchmark index eked out a barely 0.7-point gain today to end the week at 1,608.43. However, The FBM ACE Index was up 1.21% or 103.64 points at 8,686.05.

While much has been said about the growth of glove stocks and tech counters on Bursa Malaysia, two companies in different sectors — Press Metal Aluminium Holdings Bhd and Petronas Chemicals Group Bhd (PetChem) — have emerged as dark horses in the list of largest companies. Press Metal was the 28th largest company on the exchange on March 31, 2020 with a market capitalisation of RM13.29 billion, according to Bloomberg data. It rose to 22nd place on Sept 30, 2020 with a market value of RM20.77 billion, and has now climbed to eighth place with a value RM40.46 billion.

KUALA LUMPUR (March 10): Banks were hard pressed last year after being hit on multiple fronts – from record low interest rates to high modification losses, followed by increased provisions as banks manage the impact of the loan moratorium on their books. With the worst of the Covid-19 pandemic impact on financial performance behind them, banks are now expected to perform better this year, although remaining cautious, supported by recovery in net interest income growth and a decline in loan loss provisioning.

The FBM KLCI closed down 7.19 points or 0.45% today tracking the negative performance of Asian equities after an overnight surge in bond yields again dragged shares on Wall Street. At 5pm, the benchmark index closed at 1,581.26 points. Today, the index had mostly traded in negative territory, ranging between 1,577.39 and 1,590.46 — compared with yesterday’s closing of 1,588.45

The FBM KLCI closed higher by 0.17% or 2.73 points as investors engaged in stock-picking amid sector rotational play, while the positive sentiment generated from Wall Street’s overnight surge has also spilt over to the local market.

AMMB Holdings Bhd was only given "a few days" to negotiate the recently announced RM2.83 billion settlement to the Malaysian government for its involvement in the 1Malaysia Development Bhd fiasco, the banking group said in an analyst briefing yesterday.

RHB Bank Bhd will face asset quality deterioration in 2021, said S&P Global Ratings. In a statement yesterday, S&P said the bank's performance in 2020 was in line with its estimates.

The FBM KLCI closed 23.99 points or 1.54% higher at 1,581.54 today as optimism on corporate earnings boosted investor sentiment. There was general optimism following encouraging results released by companies, Rakuten Trade's head of equity sales Vincent Lau told theedgemarkets.com