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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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China’s Home Prices See Sharpest Annual Drop in Nine Years Despite Support Measures

Key Takeaway: China’s new home prices fell 5.9% in October year-on-year, marking the steepest 

Official data revealed that China's new home prices dropped for the 16th consecutive month, falling 5.9% in October compared to the previous year. However, the month-on-month decline slowed to 0.5%, the smallest since March, from 0.7% in September.

The National Bureau of Statistics (NBS) noted narrowing price declines across tier-one, tier-two, and tier-three cities, hinting at potential stabilization. Additionally, 75.9% of respondents in an NBS survey expect home prices to stabilize or rise within the next six months, an increase of 17.6 percentage points from the previous poll.

Key Developments in the Property Sector:

  • Government Measures: Authorities have introduced tax incentives and lowered borrowing costs, including a 25 basis-point cut in benchmark lending rates in October.
  • Home Deliveries: Policymakers delivered 2.85 million pre-sold homes nationwide as of Nov 13, addressing a major concern for buyers.
  • Market Sentiment Shift: Three cities reported year-on-year home price growth in October, up from two in September.

Despite these measures, the property market’s recovery remains fragile, with ongoing efforts required to restore confidence and demand.

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