KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
China's Deflation Worsens, Boeing Faces Crisis, and Singapore Becomes a Travel Hotspot for Chinese Tiger Moms
China’s deflationary problems deepened in September, sparking concerns over market volatility as officials announced further aid but refrained from putting a clear price tag on stimulus. Meanwhile, Boeing’s crisis continues with the planemaker announcing significant workforce cuts, and Singapore has emerged as a new travel hotspot for China’s tiger moms. Here’s what you need to know.
China’s Deflation Deepens
Chinese stocks are bracing for a volatile start to the week following a disappointing Finance Ministry briefing over the weekend. While officials promised more support for the struggling property sector and local governments, no major fiscal stimulus figures were released. Markets had hoped for more robust measures to combat entrenched deflation, which worsened last month.
Boeing Faces More Troubles
In the US, Boeing is in the spotlight as the company plans to cut 17,000 jobs and delays its much-anticipated 777X jetliner. Boeing’s ongoing challenges reflect deeper issues, with third-quarter sales expected to miss estimates, exacerbating the company’s long-standing crisis.
Singapore's Appeal to Chinese Tiger Moms
In travel news, Singapore is becoming a top destination for Chinese tiger moms, with visitations to the city-state’s college campuses surging during Golden Week. This trend is creating new business opportunities for hotels, buses, and travel operators as families flock to assess educational prospects.
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