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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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ByteDance Secures Record US$10.8 Billion Corporate Loan in Asia

ByteDance Ltd, the Chinese tech giant behind TikTok, is set to sign a US$10.8 billion (RM44.7 billion) corporate loan, marking the largest-ever dollar-denominated corporate facility in Asia, excluding Japan. The deal, funded by about 20 international and Chinese banks, exceeds the initial target of US$9.5 billion, highlighting continued lender confidence despite the company's challenges.


The loan, coordinated by Citigroup, Goldman Sachs, and JPMorgan, has a three-year tenure, extendable to five years, with part of the proceeds used to refinance a previous US$5 billion facility raised in 2021. This financing comes as ByteDance navigates US scrutiny and competition in the AI race.

Founded in 2012, ByteDance is leveraging its Douyin platform in China to expand into e-commerce, while TikTok continues its international growth, including plans to introduce its live shopping platform across more European markets. Additionally, the company's venture into generative AI and large language models demands substantial capital investment.

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