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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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Dollar's Fate Hinges on Treasury Secretary Nominee: Bond Market Reaction Key

The U.S. dollar's trajectory may hinge on President-elect Donald Trump's forthcoming nomination for Treasury Secretary. Analysts suggest that appointing a candidate with limited experience or one who doesn't provide a strong counterbalance to some of Trump's economic proposals could lead to a sell-off in long-term U.S. Treasuries, potentially weakening the dollar. Conversely, a nominee with a proven track record and reliability is likely to be well-received by the bond market, supporting the dollar's strength.

Potential candidates for the Treasury Secretary position include:

  • Kevin Warsh: Former Federal Reserve Governor.
  • Marc Rowan: CEO of Apollo Global Management.
  • Howard Lutnick: CEO of Cantor Fitzgerald.
  • Scott Bessent: Hedge-fund manager.
  • Robert Lighthizer: Former U.S. Trade Representative.

The bond market's reaction to the nominee will be crucial in determining the dollar's near-term performance. A well-regarded appointment could bolster confidence, while a less favorable choice might prompt market volatility.

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