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Market Daily Report: Bursa Malaysia Ends Higher On Positive Sentiment, CI Up 0.83 Pct

KUALA LUMPUR, Nov 6 (Bernama) -- Bursa Malaysia closed higher today, buoyed by supportive local economic policies, positive sentiment from strong technology stocks earnings, and a favourable United States (US) market outlook, an analyst said. Add to that, Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 3.0 per cent is poised to encourage domestic spending and investment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.47 points, or 0.83 per cent, to close at its intraday high of 1,634.17, compared to Tuesday’s close of 1,620.70. The benchmark index opened 3.71 points higher at 1,624.41 and subsequently hit a low of 1,623.52 in early trade before trending upwards toward the closing session. Market breadth was positive, with advancers trumping decliners 849 to 352, while 428 counters were unchanged, 765 untraded, and nine suspended. Turnover expanded to 3.39 billion units
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Key Corporate Updates from Malaysia

 Key Business Announcements on October 24:

  1. Rexit Bhd - Two major shareholders, Datuk Seow Gim Shen and Kong Chien Hoi, were sentenced to 14 weeks in jail in Singapore for their involvement in a conspiracy to illegally obtain personal data of over 9,000 individuals, linked to cybercrime for gambling operations.

  2. Nestlé (Malaysia) Bhd - The company's net profit for 3QFY2024 fell 36.12% to RM85.41 million due to lower domestic sales and cautious consumer spending. Nestlé halved its dividend to 35 sen per share, down from 70 sen a year ago.

  3. ViTrox Corp Bhd - Net profit for 3QFY2024 dropped 32.5% to RM22.45 million, impacted by foreign exchange losses and slow demand recovery for automated board inspection systems.

  4. Pavilion Real Estate Investment Trust - 3QFY2024 net property income increased 8.65% to RM131.86 million, driven by lower operating expenses and higher rental income. The distribution per unit rose to 2.38 sen.

  5. CapitaLand Malaysia Trust - 3QFY2024 net property income grew 6.3% to RM61.99 million, with higher revenue from its properties. It announced a 1.07 sen distribution per unit.

  6. DXN Holdings Bhd - Net profit for 2QFY2025 dropped 13.2% to RM65.97 million, due to higher shipping costs and foreign exchange losses, despite record-high revenue of RM488.43 million.

  7. Luxchem Corp Bhd - 3QFY2024 net profit fell 26% to RM6.67 million due to higher administrative expenses, although revenue rose 18.29% to RM196.09 million.

  8. AWC Bhd - The company secured a RM9.4 million contract from the Melaka Public Works Department for facilities management at the Sungai Melaka immigration complex.

  9. SC Estate Builder Bhd - The termination of a RM4.3 million contract with Merchant Esteem Sdn Bhd was attributed to low demand and uncertainties in the commercial property market.

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