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Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
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Key Takeaways from Trump and Biden's First Presidential Debate: What Investors Need to Know

Biden’s Struggles Raise Questions About Candidacy

President Joe Biden's debate performance was widely seen as disappointing, with numerous misspeaks, bouts of coughing, and a perceived lack of energy. This has intensified concerns about his age and ability to lead for another term, prompting discussions within the Democratic Party about the possibility of replacing him on the ticket.

Trump Seizes the Momentum

Former President Donald Trump capitalized on Biden's missteps, maintaining energy throughout the debate and delivering sharp attacks. Despite his characteristic exaggerations and falsehoods, Trump managed to stay focused and avoid the outbursts that marred his previous debates. This has strengthened his position as the frontrunner, with undecided voters showing increased support for him.

Key Issues Highlighted

  • Abortion: Biden missed an opportunity to leverage this strong Democratic issue, instead pivoting to immigration, a weaker area for him.
  • Economy: Trump attacked Biden on the withdrawal from Afghanistan, border crisis, and inflation, while Biden struggled to defend his record.
  • Social Security and Medicare: Biden attempted to hit back on Republicans' stances but his delivery lacked impact.

Market Implications

Investors should note that a Trump victory could bring significant changes to US trade policy, tax systems, civil rights, and international relations. The debate has already influenced market movements, with the dollar strengthening and global currencies like the Mexican peso and Japanese yen weakening.

Democratic Response

Despite the debate performance, prominent Democrats like California Governor Gavin Newsom and Vice President Kamala Harris defended Biden, affirming their support for his candidacy. However, there is evident panic within the party, with calls for reassessment of Biden's viability as the nominee.

Final Thoughts for Investors

The debate underscores the uncertainties in the upcoming election and its potential impact on market stability. Investors should stay informed and be prepared for shifts in economic policies depending on the election outcome.

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