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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

Govt committed to reducing fiscal deficit to 3.8% of GDP

The Malaysian government is making strides to reduce its fiscal deficit and maintain a debt-to-GDP ratio below 60%, as laid out in the Public Finance and Fiscal Responsibility Act 2023 (Act 850). For Budget 2025, the Ministry of Finance (MOF) aims to bring the fiscal deficit down to 3.8% of GDP, following a recent trend of decreasing national debt.

Key points include:

  1. Reduced New Debt: New debt fell from RM100 billion in 2022 to RM92.6 billion in 2023, with further reductions projected at RM84.7 billion for 2024 and RM80 billion by 2025.

  2. Debt Composition: Federal loans at the end of September totaled RM166.5 billion, down from RM182.5 billion the previous year, with major components including Malaysian Government Securities (MGS), Malaysian Government Investment Issues (MGII), and Treasury bills.

  3. Liabilities: The government’s liabilities reached RM369.3 billion by June, encompassing guarantee commitments of RM231.4 billion and other liabilities totaling RM137.9 billion.

  4. Foreign Debt Exposure: Only 2.5% of Malaysia’s debt is in foreign currency, limiting the country’s exposure to currency fluctuations. The strengthening of the ringgit is anticipated to reduce the interest on maturing debt, alleviating financial pressures.

These efforts underscore the government's focus on fiscal responsibility and stability while preparing for future economic challenges.

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