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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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German Unemployment Rises More Than Expected as Labor Market Cools

German unemployment increased by 17,000 in September, exceeding economists' expectations of 13,500, according to a Bloomberg poll. Despite this rise, the unemployment rate remained steady at 6%. The increase signals that the economic slowdown is starting to affect the labor market more significantly.


While German companies have been hesitant to cut staff due to concerns about a shortage of skilled workers, there are now growing signs of a cooling labor market. Employment growth has slowed, and the number of job vacancies fell by about 15% in the second quarter compared to the previous three months. Recent business surveys from S&P Global and the Ifo institute have also shown an increasing willingness among firms to reduce staff.

According to Andrea Nahles, head of the Federal Labour Agency, the usual fall revival in the labor market is progressing more slowly than expected.

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