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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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Citigroup Under US Probe Over Ties to Sanctioned Russian Billionaire

Key Takeaway: US authorities are investigating Citigroup’s relationship with Suleiman Kerimov, a sanctioned Russian billionaire, focusing on anti-money laundering practices and client vetting.

Citigroup is under scrutiny from the US Department of Justice (DOJ), FBI, and IRS over its connections to Delaware-based Heritage Trust, which reportedly holds assets linked to Russian oligarch Suleiman Kerimov, according to a Barron’s report.

Kerimov, sanctioned by the US in 2014 and 2018 for Russia's actions in Syria and Ukraine, remains a central figure in the investigation. US enforcement actions in 2022 imposed restrictions on Heritage Trust due to Kerimov's interests.

Citigroup, in a statement, emphasized its commitment to compliance with laws and regulations while actively winding down most of its institutional banking business in Russia. The bank is also working to close its Russian consumer banking division, retaining only operations necessary to meet legal obligations.

The probe is expected to examine Citigroup's anti-money laundering processes and client vetting systems. Neither the DOJ, FBI, nor IRS has commented on the investigation so far.

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