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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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Chennai-Penang Direct Flights by IndiGo to Launch on Dec 21: A Game-Changer for Tourism

Penang's tourism sector is set for a major uplift with the introduction of a new daily direct flight between Chennai, India, and Penang by IndiGo Airlines, starting Dec 21, 2024.

This move, announced by Penang State Tourism and Creative Economy Committee (Petace) chairman Wong Hon Wai, is expected to boost travel, business, and family visits, strengthening economic and cultural ties between India and Penang.

Key Highlights

  • Direct Connection: The Chennai-Penang route will be the only direct flight linking the two cities, offering a convenient travel option for passengers.
  • Tickets Available Now: Travelers can book flights on IndiGo’s official website.

Boost for Penang-India Ties

Wong Hon Wai emphasized the strategic importance of this route, citing Chennai’s position as the fifth-largest city in India, with a population exceeding 12 million, as a key market for Penang.

  • Strengthening Ties: Penang has significant economic and cultural connections with Tamil Nadu, especially Chennai.
  • Tourism Growth: The route is projected to quickly elevate India into Penang’s top 10 tourist source markets.

Tourism Diversification Strategy

Wong also highlighted Petace’s commitment to diversifying Penang’s tourism source markets.

  • Global Visibility: Attracting diverse international tourists enhances Penang’s global appeal.
  • Risk Mitigation: A broader tourist base reduces dependence on single-source markets, ensuring sustainable tourism growth.

Why It Matters

The new flight is expected to stimulate passenger traffic for business and leisure, while reinforcing cultural bonds between India and Penang.

Travelers, business stakeholders, and families looking to reconnect will all benefit from this new direct and efficient connection, marking a significant step in enhancing Penang’s position as a top international destination.

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