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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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Airbnb Urges Fair Rules for Malaysia’s Short-Term Rental Industry

Airbnb has called for "fair and balanced" regulations in Malaysia’s short-term rental accommodation (STRA) sector to promote growth while addressing concerns from traditional hotel operators. Speaking at a roundtable on Malaysia’s tourism growth, Mich Goh, Airbnb’s Asia-Pacific public policy director , emphasized that regulations should foster innovation without stifling the sector's potential . Key Highlights Fair Regulations Needed : Airbnb agrees on the need for regulation but stresses that it should not hinder industry growth. Framework for Responsible Hosting : In June, Airbnb introduced the "Guide to Responsible Hosting in Buildings" , a framework aimed at helping strata hosts and property managers operate STRAs responsibly. Partnership with Legal Experts : Airbnb partnered with Zaid Ibrahim & Co and KPMG Law to create reference building by-laws , offering solutions for managing STRA activities in condominiums and apartments. STRA's Role in Touris

Chennai-Penang Direct Flights by IndiGo to Launch on Dec 21: A Game-Changer for Tourism

Penang's tourism sector is set for a major uplift with the introduction of a new daily direct flight between Chennai, India, and Penang by IndiGo Airlines , starting Dec 21, 2024 . This move, announced by Penang State Tourism and Creative Economy Committee (Petace) chairman Wong Hon Wai , is expected to boost travel, business, and family visits , strengthening economic and cultural ties between India and Penang. Key Highlights Direct Connection : The Chennai-Penang route will be the only direct flight linking the two cities, offering a convenient travel option for passengers. Tickets Available Now : Travelers can book flights on IndiGo’s official website. Boost for Penang-India Ties Wong Hon Wai emphasized the strategic importance of this route, citing Chennai’s position as the fifth-largest city in India , with a population exceeding 12 million , as a key market for Penang. Strengthening Ties : Penang has significant economic and cultural connections with Tamil Nadu , especially