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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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India's Adani Group Considers Investing in Vietnam's Airports

 

India's Adani Group is exploring potential investments in two major airports in Vietnam, as announced by the Vietnamese government on Wednesday. This development follows the company's recent approval to construct a seaport in the country.

The announcement came after a meeting in Delhi between Vietnamese Prime Minister Pham Minh Chinh and Gautam Adani, the head of the Adani Group, during Chinh's official visit to India.

Potential Investment Targets

  • Long Thanh Airport: Located in the southern region of Vietnam, this is one of the country's most significant aviation projects.
  • Chu Lai Airport: Situated in the central region, it serves as another critical infrastructure hub.

Previous Commitments and Future Prospects

  • Seaport and Renewable Energy: Last year, Karan Adani, Gautam Adani's elder son, announced plans to invest up to US$3 billion in Vietnam's seaport and renewable energy sectors. He also mentioned that the total investment could potentially reach US$10 billion over the longer term.

Key Points

  • The Vietnamese government statement did not specify the investment amount or the time frame for the airport projects.
  • The move underscores Adani Group's strategy to strengthen cooperation with Vietnamese partners in aviation and logistics sectors.

This potential investment marks a significant step in Adani Group's expansion in Southeast Asia, aligning with Vietnam's infrastructure development goals.

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