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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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Alibaba, JD, and Meituan Surge After China's Stimulus Announcement

 Alibaba Group Holding Ltd, JD.com Inc, and Meituan saw their best trading days in years following the Chinese government’s announcement of wide-ranging stimulus measures aimed at boosting the struggling domestic economy. Meituan and JD.com surged over 20% in Hong Kong trading on Thursday and Friday, marking their best two-day performance since 2022, while Alibaba rose as much as 15%.


The stimulus package includes support for the property sector, cash handouts for residents in hardship, and increased social security benefits for unemployed graduates. These measures helped ease concerns over China’s debt-ridden property market and high youth unemployment, which in turn bolstered consumer tech firms.

Cash-rich companies like Alibaba, based in Hangzhou, are leading share repurchases this year, boosting investor confidence. Alibaba’s shareholder yield at the start of this month was over 8%, more than double that of any company in the Magnificent Seven in the US. These buyback efforts, combined with Beijing’s new stimulus policies, are helping to reignite interest in China’s tech sector.

With additional fiscal and monetary measures on the horizon, China’s policymakers are signaling a commitment to reviving economic growth, stabilizing employment, and enhancing social stability. The latest moves are expected to further stabilize the job market and lift consumption demand.

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