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Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
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Malaysian REITs Record 7% Increase Year-to-Date on Bursa REIT Index

The Malaysian Real Estate Investment Trusts (M-REITs) have achieved a 7% year-to-date increase on the Bursa Malaysia REIT Index, according to the Malaysian REIT Managers Association (MRMA). This growth has been attributed to peaking global benchmark interest rates and strong earnings growth fueled by sound fundamentals.

The announcement was made at the MRMA's fourth REIT Forum, which was attended by Deputy Investment, Trade and Industry Minister Liew Chin Tong. Leong Kit May, Chair of MRMA and CEO of Axis REIT Managers Bhd, noted that M-REITs' commercial sub-sectors were bolstered by government policies, including the 30-day visa exemption for visitors from China and India. In the first half of 2024, tourism arrivals grew by 30%, and tourism receipts increased by 50% compared to the same period last year.

Additionally, the industrial property sub-sector has benefited from stable occupancy rates and rising foreign direct investments (FDI). Johor Bahru has emerged as a fast-growing data center market in Southeast Asia, driven by favorable policies.

Office space demand has also improved as companies increasingly return their workforces to physical offices, and M-REITs have pursued expansion plans with acquisitions in the industrial, hospitality, and retail sectors.

M-REITs, first introduced to investors in 2005, have seen their market capitalization grow from RM9 billion in 2010 to RM41 billion as of Dec 31, 2023. The sector has rebounded sharply after the pandemic, with a strong focus on ESG initiatives, artificial intelligence, and proptech to optimize processes and reduce costs.

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