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
The Thai baht fell to a six-week low on Thursday, while most Asian currencies fluctuated in a narrow range and regional equities edged lower as traders adjusted their expectations for US Federal Reserve rate cuts and considered the impact of a potential second Trump presidency.
The baht dropped by 1% to 33.83 per US dollar, marking its lowest level since Sept 10, as the currency resumed trading after a holiday. Other regional currencies such as the Singapore dollar and Philippine peso gained 0.2%, while the South Korean won increased slightly by 0.1%.
The US dollar index, which tracks the currency against six rivals, remained close to a three-month high, buoyed by the perception that an outsized 50-basis-point rate cut from the Fed is now less likely. This sentiment was reinforced by rising treasury yields. Additionally, anticipation of a Trump victory in the US presidential election added to the dollar's strength, as his tax and tariff policies are considered inflationary, potentially keeping US rates high.
In Indonesia, the rupiah rose 0.2%, supported by investor confidence in the newly sworn-in cabinet, which includes Finance Minister Sri Mulyani Indrawati. However, equities in Jakarta slipped 0.4%.
In Malaysia, annual inflation came in slightly lower than expected at 1.8% in September. Analysts predict the Malaysian central bank will maintain its current policy stance through 2025, distinguishing it from other Emerging Asia central banks.
Meanwhile, Philippine equities and stock markets in Kuala Lumpur, Shanghai, and Bangkok fell between 0.2% and 0.9%, reflecting broader concerns over election anxiety in the US and changing monetary policy expectations. In contrast, Singaporean shares edged up 0.4%.
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