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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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Intel and US Set to Finalize $8.5 Billion Chips Funding by Year-End

Intel Corp and the US government are expected to finalize $8.5 billion (RM35 billion) in direct funding for the chipmaker by the end of 2024, according to a report by the Financial Times. The discussions, while in advanced stages, have not yet guaranteed a final agreement by the year’s close, with potential risks arising from any takeover of Intel’s business.


The funding will be part of US President Joe Biden's push to enhance domestic semiconductor production, with Intel having already been awarded nearly $20 billion in grants and loans in March. This package includes $8.5 billion in grants and up to $11 billion in loans, aimed at supporting Intel's plans to build two new factories and modernize an existing one in Arizona.

The discussions come amid Intel's challenges in the chipmaking industry, having lost its edge to Taiwan Semiconductor Manufacturing Co (TSMC) and missed out on the booming market for generative artificial intelligence chips dominated by Nvidia and AMD. Additionally, Qualcomm has expressed interest in exploring a potential acquisition of part or all of Intel's business.

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