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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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Malaysia's Domestic Tourism Surges 23.8% in 2Q2024

Malaysia's domestic tourism sector recorded a 23.8% jump in visitors during the second quarter of 2024, with 68.4 million visitors, according to the Department of Statistics Malaysia (DOSM). This marks a 16.8% increase from the first quarter of 2024, which saw 58.6 million visitors.

Tourism spending also surged, reaching RM28.1 billion in 2Q2024, a 28.6% increase from the same period last year and a 16.9% rise compared to the first quarter. The growth reflects a strong resurgence in domestic travel activity.

In 2023, Malaysia's domestic tourism experienced an "exceptionally strong" performance, with 213.7 million domestic visitors, a 24.6% increase from 2022. Domestic tourism receipts for 2023 rose 32.5% to RM84.9 billion, although still below pre-pandemic levels of 2019, with a 10.6% decline in arrivals and 17.7% lower receipts.

Key states driving domestic tourism receipts included Selangor, which led with RM11.1 billion, followed by Kuala Lumpur with RM11 billion. Sarawak and Pahang also showed significant growth.

Shopping was the primary driver of tourism receipts, contributing RM30.84 billion, with Kuala Lumpur leading at RM4.85 billion. Other important spending areas were food and beverages, accommodation, and automotive fuel.

The social profile of tourists indicated that the majority of visitors in nine states and federal territories came from households earning between RM5,001 and RM10,000 per month. Meanwhile, seven states saw most visitors from households earning between RM1,001 and RM3,000.

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