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
Malaysian Prime Minister Datuk Seri Anwar Ibrahim expressed that China’s principle of a shared future has resonated strongly across Asia, Africa, Latin America, and the Global South, leading Malaysia to pursue participation in BRICS (Brazil, Russia, India, China, and South Africa). Speaking at the 7th China International Import Expo (CIIE), Anwar praised President Xi Jinping’s recent BRICS address in Kazan, which emphasized unity against discord and protectionism.
Anwar noted the importance of China's commitment to global peace and economic cooperation. “We must build a community with a shared future to uphold global peace, security, and share expertise and technologies globally,” he stated, referencing Xi’s vision. Recognizing Malaysia as the “Country of Honour” at this year’s CIIE, Anwar spoke after Chinese Premier Li Qiang, followed by other global leaders, commending China’s inclusive trade policies.
Highlights from Anwar’s Address:
China's Global Role: He acknowledged China’s success in balancing governance and economic policies, contrasting it with other global powers' approaches. Anwar celebrated China’s efforts to promote fair trade and avoid “unfair trading practices.”
CIIE’s Impact: Anwar lauded CIIE as a significant platform allowing businesses, especially SMEs, to showcase their capabilities. “This exhibition is a key opportunity for global companies to attract investments and build partnerships,” he said.
Asean Chairmanship Goals: As Malaysia prepares to lead Asean next year, Anwar outlined plans for inclusive regional cooperation. He highlighted Malaysia's goal to reciprocate China's “shared future” principle, noting plans for an expanded Asean-GCC plus China Summit in 2025.
Anwar concluded by underscoring Asean’s role in driving sustainable growth, emphasizing Malaysia’s commitment to governance, anti-corruption, and socio-economic reforms inspired by China’s achievements in poverty reduction.
Comments
Post a Comment