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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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Oracle Corp has projected that its annual revenue will rise to at least $104 billion (RM447.68 billion) by fiscal 2029, signaling strong growth prospects for its cloud infrastructure business. This optimistic forecast was presented by Executive Vice President Doug Kehring during Oracle’s annual financial analysts' briefing.

Oracle also raised its sales outlook for fiscal 2026 to at least $66 billion, up from its previous target of $65 billion. This revised forecast exceeds analysts' average estimate of $64.5 billion for 2026, according to a Bloomberg survey.

The Austin-based software giant, best known for its database software, is aggressively expanding its presence in the cloud infrastructure market—a space where it competes with Amazon.com Inc, Microsoft Corp, and Alphabet Inc's Google by renting out computing power and storage. Oracle's cloud platform has gained recognition for its performance with generative artificial intelligence (AI) workloads, with notable customers including Reka and Elon Musk’s xAI.

Following the announcement, Oracle’s shares surged by about 5% in extended trading. The company has been one of the top-performing software stocks this year, with a rally of 53% through Thursday’s close.

Oracle has also made strategic deals with its larger cloud infrastructure rivals to facilitate the integration of its database software on their platforms. Despite the push to the cloud, most of Oracle’s database customers have yet to make the transition. Kehring highlighted that moving these on-premise database customers to the cloud will be a key driver of Oracle's future revenue growth.

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