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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

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
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'Made in China' Targets Europe’s Luxury Car Market with High-Tech Features at Lower Prices


Chinese automakers are making aggressive moves into Europe's luxury car market, offering vehicles with high-tech features like digital dashboards, leather interiors, and champagne coolers, often at half the price of their European counterparts. While Porsche and Mercedes continue to dominate the luxury segment with their brand allure and heritage, Chinese manufacturers, led by companies like BYD and Xiaomi, are rapidly gaining ground.

Having tripled their market share in China's high-end segment in just two years, these manufacturers are now eyeing Europe. Xiaomi's SU7 sports car has even garnered praise from Ford CEO Jim Farley, who has been driving it for the past six months. Despite the allure, Chinese automakers are facing challenges, including tariffs on Chinese-made electric vehicles (EVs) set to be imposed by the European Union (EU) this week. These tariffs come after eight rounds of negotiations with Beijing failed to resolve key trade disputes.

The push into Europe comes as sales and profits of traditional automakers slump during the transition to the electric vehicle era. With high profit margins in the luxury segment, Chinese automakers are vying to establish themselves as serious contenders in a market that has long been dominated by European brands.


source: bloomberg

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