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
Asian share markets showed mixed performance on Monday, as China’s continued rally contrasted with a sharp drop in Japan's Nikkei. Geopolitical tensions in the Middle East and concerns over Japan’s interest rate policies weighed on investor sentiment.
China’s blue-chip CSI 300 Index climbed another 3.0%, adding to last week's impressive 16% surge, while the Shanghai Composite rose 4.4%, continuing its upward momentum. This extended rally was fueled by Beijing's aggressive stimulus measures, including mortgage rate cuts and liquidity support, designed to combat the country’s economic downturn.
Meanwhile, the Nikkei tumbled 4.1% amid investor uncertainty over new Prime Minister Shigeru Ishiba’s stance on monetary policy. While Ishiba had previously criticized the Bank of Japan’s (BOJ) easy policies, he adopted a more conciliatory tone over the weekend, stating that monetary policy must remain accommodative given the current state of Japan’s economy. This helped the yen nudge up 0.2% to ¥142.52 after its recent slide.
Despite the decline in Japan, China's rally helped lift MSCI's broadest index of Asia-Pacific shares outside Japan by 0.3%, bringing it to a seven-month high.
In currency markets, the dollar index remained flat at 100.41, while gold hit record highs of US$2,685 an ounce, driven by a softer dollar and lower bond yields. Oil prices also crept higher amid Middle East tensions, with Brent rising 61 cents to US$72.59 per barrel.
Looking ahead, markets will focus on key US economic data this week, including the payrolls report, which may determine whether the Federal Reserve delivers another 50-basis-point rate cut in November.
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