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
The ongoing strike at Boeing's Seattle factory has led to delays in 737 Max deliveries across Asia, a region with one of the largest order backlogs for the aircraft. The strike, involving around 33,000 Boeing employees represented by the International Association of Machinists and Aerospace Workers, has stretched for almost two weeks, raising concerns over the reliability of deliveries to Asian carriers.
Boeing is expected to deliver 981 Max jets to Asian airlines, including major carriers like Air India Ltd and Indonesia’s Lion Air, by 2030. This represents close to one-third of all scheduled deliveries globally. However, with production disrupted, airlines across Asia, such as Korean Air, Vietjet Aviation, and Japan Airlines, are reporting delays or expressing concerns about further postponements.
The situation is worsened by the pandemic's lingering supply chain fractures, which have already limited aircraft availability, making it challenging for Asian carriers to meet surging demand for air travel. Singapore Airlines and other carriers are actively working with Boeing to adjust their delivery schedules amidst the factory shutdown. If the strike continues, it could impact airline capacity in a region recognized as the global growth engine for air travel, potentially leading to higher airfares due to fewer available seats.
Industry experts predict that global plane deliveries will stall through 2024, with full recovery not expected until 2026, as supply chain issues and economic challenges continue to weigh on production.
Boeing, which aims to increase 737 Max production to 38 jets a month by year’s end, has warned that the strike will delay this target. Financial pressures are mounting for the company, which has bypassed union negotiators by taking its 30% wage hike offer directly to workers—a move that has further escalated tensions with the union.
Major airlines in Asia, like Air India and Lion Air, which have the largest number of 737 Max jets due in the next decade, have yet to comment on the impact. Meanwhile, Ryanair CEO Michael O’Leary has already cautioned that up to 10 jet deliveries expected in the first half of 2024 may be pushed to the second half due to the strike.
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