KUALA LUMPUR, May 11 (Bernama) -- Late selling pressure dragged Bursa Malaysia into negative territory at the close, reversing earlier gains as profit-taking in heavyweight banking and transportation counters dampen overall market sentiment. At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.75 points to 1,745.31 from Friday’s close of 1,748.06. The benchmark index, which opened 5.94 points firmer at 1,754.0, moved between 1,744.99 and 1,754.0 during the trading session. Market breadth was positive with gainers leading losers 562 to 558. A total of 636 counters were unchanged, 897 untraded, and 12 suspended. Turnover increased to 4.20 billion units worth RM3.17 billion compared with 3.31 billion units worth RM3.00 billion on Friday.
Thailand's Social Security Fund (SSF), worth $77 billion, plans to invest $11.6 billion in global private assets as part of a significant strategic overhaul aimed at improving its historically low returns. The fund, which supports healthcare, unemployment benefits, and pensions for 25 million workers, has struggled with average returns of less than 3% over the past decade, far below its potential.
Petch Vergara, a member of the SSF’s investment board and a former Goldman Sachs executive, emphasized that the fund's reliance on low-risk domestic investments is unsustainable. If the current strategy continues, the fund risks bankruptcy by 2051.
The move comes as Thailand’s population continues to age rapidly, with one-fifth of its 66 million people now over 60. The SSF’s new board, composed of elected members for the first time, approved an investment framework that will reduce the weighting of low-risk assets from 70% to 60% and increase higher-risk investments from 30% to 40% by 2027.
Of the higher-risk investments, 15% will be allocated to global private assets such as private equity, credit, and hedge funds. The fund aims to generate higher long-term returns and improve the fund’s sustainability in light of Thailand’s growing elderly population and rising pension demands.
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