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 economy is forecasted to show a modest recovery in October, spurred by recent government stimulus efforts. Key economic indicators are anticipated to reflect this improvement when data is released on Friday, with industrial production expected to rise 5.6% from last year, marking the highest growth since May, and retail sales projected to increase by 3.8%.
Despite these signs of momentum, sustained growth remains uncertain. Concerns linger over a potential impact from President-elect Donald Trump’s tariff threats, which could significantly reduce China’s export earnings.
Highlights of the expected data include:
- Industrial output: Predicted to achieve the strongest growth rate in months.
- Retail sales: Boosted by October's holiday season, though still below pre-pandemic levels.
- Fixed-asset investment: Likely up by 3.5% year-to-date.
- Housing market: Early data shows a 7.1% rise in property sales in October, though prices and long-term investments remain challenged.
While initial improvements are evident, economists highlight that sustaining this rebound depends heavily on effective execution of fiscal, monetary, and housing policies to counteract ongoing challenges, particularly in property and consumer spending.
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