Malaysia’s benchmark index retreated as profit-taking in key heavyweights weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI : 1,684.93 (-0.83%) FBM Mid 70: -0.00% (flat) FBM Small Cap: -0.23% FBM ACE: +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume: 3.54 billion shares Total value: RM4.19 billion Gainers: 456 Losers: 678 Unchanged: 550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY) +1.54% Petronas Gas (6033.MY) +1.18% Sunway (5211.MY) +1.15% Losers Hong Leong Bank (5819.MY) -3.29% Maybank (1155.MY) -3.02% CIMB (1023.MY) -2.47% Banking sector weakness was the main ...
KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak tabled Budget 2016 in the Dewan Rakyat on Friday. Najib, who is also Finance Minister, said the theme of the 2016 Budget is “Prospering the Rakyat”. The following are the highlights of his speech: * RM267.2bil has been allocated under Budget 2016, compared with the revised RM260.7bil in 2015. * There will be nine high-impact domestic projects worth RM6.7bil in total. * The first priority of Budget 2016 is to spur domestic investment to contribute 26.7% to the GDP in 2016. * The Budget aims to increase private investment to RM218.6bil and public investment to RM112.2mil. * The GST sum is to be credited into value of prepaid reloads from Jan 1 next year. * Personal income tax pushed to 26% from 25% for those earning between RM600,000 to RM1mil. Income tax is also pushed up to 28pc from 25% for those earning RM1mil and above. * RM900mil is proposed for the Jalan Tun Razak Traffic Dispersal Project to reduce congesti...