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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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South Korea's President Yoon Calls for Urgent Reform of US$830 Billion Pension Fund

South Korean President Yoon Suk Yeol emphasized the need for urgent reform of the national pension fund, one of the world’s largest with assets totaling US$830 billion. Yoon stressed that the current system lacks trust across generations and requires fundamental changes to ensure income security for the country's aging population. The reform aims to make the pension system more equitable by adjusting contribution rates based on age groups, with a focus on sustainability.

Key Takeaways:

  1. Urgent Pension Reform Needed: President Yoon highlighted the need for immediate and fundamental reforms to South Korea’s national pension fund, which is expected to be depleted by 2055 if left unchanged.

  2. Focus on Equity and Sustainability: The proposed reforms include increasing contribution rates and differentiating them by age group to make the system more equitable and restore public trust.

  3. Healthcare Reforms and Controversy: In addition to pension reform, Yoon is pushing for healthcare reforms aimed at improving medical services in underserved areas. However, his plan to increase the number of medical students has faced strong opposition from doctors, leading to protests earlier this year.

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