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
Fitch Ratings has affirmed the United States' credit rating at "AA+" and stated that the country's fiscal profile is likely to remain largely unchanged regardless of the outcome of the upcoming presidential election. The agency cited structural strengths such as high per capita income and financial flexibility.
Key Takeaways:
Limited Impact from Election Results: Fitch believes that the underlying US fiscal position will remain stable despite different economic objectives, tax policies, and spending priorities of Democratic Vice President Kamala Harris and Republican candidate Donald Trump. It expects most of the tax cuts from 2017 to be extended under either administration, which would affect revenues and contribute to wider budget deficits.
High Deficits and Debt Burden: The US government has not taken significant steps to address large fiscal deficits, a growing debt burden, and increasing expenditures linked to an aging population. These factors place the US below the median of equally rated sovereigns. Despite these concerns, Fitch maintained the US rating due to its economic strength and the advantage of issuing the world's leading reserve currency.
Concerns Over Governance Standards: Fitch noted that US standards of governance are below those of its 'AA' rated peers. This follows the agency's downgrade of the US credit rating last year after political disagreements over the debt ceiling, which ended with an agreement to lift the government's $31.4 trillion borrowing limit.
Overall, Fitch's assessment suggests that while the upcoming election may shape certain policies, the fundamental fiscal challenges facing the US are likely to persist.
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