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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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Emerging Market Stocks Rally; Manila and Bangkok Surge on Rate-Cut Expectations



Key Takeaway: Emerging Asian stocks surged on Tuesday, with Thailand and the Philippines gaining on rate-cut hopes, while Singapore's market hit a 17-year high driven by financials.

Market Highlights

  • Thailand:

    • Stock Market: Rose 1.3%, reaching its highest since Nov. 8.
    • Rate Outlook:
      • Slowing private consumption in Q3 has increased pressure on the Bank of Thailand to lower rates.
      • Analysts at TISCO Securities foresee a 25-basis-point cut in Q1 2025.

  • Philippines:

    • Stock Market: Increased 1.1%, marking its highest since Nov. 12.
    • Rate-Cut Signals:
      • BSP Governor Eli Remolona hinted at a possible third rate cut at the December meeting or in early 2025, with further cuts expected throughout the year.
      • Citi analysts project a 25-bp rate cut in December and a total of 75 bps in 2025.

Singapore: A 17-Year High

  • Stock Market:

    • The Straits Times Index rose 0.9%, fueled by gains in financial stocks.
    • Analysts expect continued momentum as the central bank introduces stimulus measures to boost trading liquidity and valuation multiples.

  • Outlook:

    • Measures to strengthen Singapore's equity market will be rolled out through 2025, according to Morgan Stanley.

Other Regional Performers

  • Taipei: Rebounded from Monday’s losses, gaining 1.3%.
  • Jakarta: Increased 1.1%.
  • Mumbai: Up 1.3%.

Currency Movements

  • Winners:
    • Malaysian Ringgit: Gained 0.3%.
    • Indonesian Rupiah: Up 0.2%.
    • South Korean Won: Increased 0.2%.

Broader Context

  • Impact of Trump Presidency:

    • Losses in emerging markets had widened since Donald Trump’s election, with expectations of tariffs and a rallying dollar slowing interest rate cuts globally.

  • Outlook for Emerging Markets:

    • Analysts remain optimistic about Southeast Asia’s performance in 2024, with ongoing rate cuts and stimulus measures likely to support growth into 2025.

Conclusion

Emerging Asian markets are rallying on rate-cut optimism and strategic reforms, with Thailand and the Philippines leading the charge. Meanwhile, Singapore’s 17-year high signals long-term bullishness, as the region prepares for a boost in trading liquidity and market reforms through 2025.

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