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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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Britain Should Increase Pension Contributions to Address Gender Savings Gap

A report from pensions consultant Mercer has recommended that Britain increase the minimum contributions to pension pots to address the significant retirement savings gap between men and women. The proposal suggests raising the "auto enrolment" contribution rate from 8% to 12%, potentially adding £10 billion annually to pension savings. This comes as the new Labour government undertakes a review of the pensions industry to enhance investment in productive assets like infrastructure and green technology.

Key Takeaways:

  1. Proposed Increase in Pension Contributions: Mercer advises gradually raising the minimum pension contribution rate from 8% to 12%, which could significantly boost retirement savings and help close the gender savings gap.

  2. Addressing the Gender Savings Gap: The current disparity sees women retiring with significantly lower pension savings than men, attributed to career breaks and part-time work. The proposed increase aims to mitigate this gap.

  3. Focus on Private Market Investment: As Britain faces financial constraints, the proposal also highlights the importance of private market investments. The Mansion House Compact, which includes leading pension and insurance companies, has committed to increasing investments in unlisted companies, signaling a shift towards more ambitious investment strategies.

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