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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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Buffett Nears Milestone as Bank of America Sell-Off Approaches Regulatory Threshold

Warren Buffett's ongoing sell-off of Bank of America Corp shares is approaching a significant milestone, as Berkshire Hathaway Inc. reduces its stake to just above 10%. With the latest round of sales, Buffett’s holdings are set to dip below 10%, a regulatory threshold that would allow him to avoid the requirement of disclosing trades promptly and instead report them quarterly.


Berkshire now holds approximately 10.3% of Bank of America, following a 10-week selling spree. The most recent sale, disclosed in a regulatory filing, showed that Buffett liquidated US$461 million worth of stock over three days through Friday, bringing the total value of sales since mid-July to US$9.4 billion.

Despite these sales, Berkshire Hathaway retains a significant position in the bank, with its remaining stake valued at nearly US$32 billion as of Friday's close. Bank of America remains one of Berkshire's largest holdings, cementing Buffett's firm as the bank’s top shareholder. If Buffett continues at this pace, the conglomerate’s stake will soon fall below 10%, marking a shift in the transparency required for future trades.

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