KUALA LUMPUR, March 10 (Bernama) -- Bursa Malaysia rebounded to end higher today with the benchmark FBM KLCI reclaiming the 1,700 psychological level, supported by improved global sentiment after US President Donald Trump signalled a potential de-escalation of the Iran conflict, alongside Malaysia’s stronger Industrial Production Index (IPI) data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 27.51 points, or 1.64 per cent, to 1,701.68 from yesterday’s close of 1,674.17. The benchmark index opened 10.68 points higher at 1,684.85, its lowest point today, and hit a high of 1,703.61 in the late afternoon session. Market breadth was positive, with gainers thumping losers 929 to 382. A total of 361 counters were unchanged, 982 untraded and 19 suspended. Turnover declined to 3.60 billion units worth RM3.75 billion from yesterday’s 5.52 billion units worth RM5.87 billion.
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:
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.
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.
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.
Comments
Post a Comment