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Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
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Thailand's Factory Output Rises in July, Beating Expectations

Thailand's manufacturing production index (MPI) rose by 1.79% in July from a year earlier, marking its first increase in three months, according to the country's industry ministry. This growth surpassed a forecasted 0.7% decline predicted by a Reuters poll, signaling a potential recovery for the sector. The rise was attributed to stronger exports, increased tourism, and higher public spending.

Key Takeaways:

  1. Positive Turn in Factory Output: The July MPI showed a 1.79% increase, a reversal from a 1.63% decline in June, indicating a recovery in Thailand's manufacturing sector. The deputy director general of the Office of Industrial Economics, Krit Chansuwan, expressed optimism, expecting further growth in August based on higher import levels, which is a positive sign for future manufacturing and exports.

  2. Boost from Exports and Tourism: Thailand's export sector saw a notable improvement, with a 15.2% rise in July compared to the previous year, marking the biggest increase in over two years. Imports also rose by 13.1% in the same period. Meanwhile, the tourism sector is showing strong recovery, with 23.1 million foreign visitors recorded so far this year, up 32% from the same period last year, approaching pre-pandemic levels of nearly 40 million visitors in 2019.

  3. Annual Outlook and Forecast: Despite the recent growth, the overall factory output for the January-July period contracted by 1.48% compared to the previous year. The ministry maintained its forecast for a modest growth in manufacturing output of between 0% and 1% for the whole of 2024, reflecting cautious optimism amidst the ongoing recovery.

The rise in factory output, coupled with stronger export performance and a rebound in tourism, indicates positive momentum for Thailand's economic recovery, although challenges remain in achieving sustained growth throughout the year.

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