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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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Aluminium Leads Decline in Base Metals Amid Supply-Demand Imbalance

Aluminium prices extended their decline from a two-month high as concerns over China's demand recovery persisted, coupled with ample global supplies. The metal has dropped nearly 4% since Tuesday's close, reflecting the broader trend in industrial metals, which are also facing downward pressure due to a weakened risk appetite in financial markets.

Key Takeaways:

  1. Aluminium Price Decline: Aluminium has fallen almost 4% since Tuesday, driven by concerns over China's sluggish demand recovery and sufficient global supplies, leading to a widening discount in spot prices.

  2. Broader Impact on Industrial Metals: The weakening of risk appetite in financial markets, exacerbated by underwhelming earnings from tech companies, contributed to declines in other industrial metals like tin and copper.

  3. Market Outlook: Analysts predict further declines in aluminium prices, citing elevated supply levels and limited downstream demand recovery in China as key factors influencing the market.


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