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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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Hyundai Appoints First Foreign CEO Amid Trump-Era Uncertainty

Key Takeaway: Jose Munoz, Hyundai’s US chief and COO, becomes the first non-Korean CEO, tasked with strengthening global competitiveness and navigating potential challenges from Trump's second presidency.

Hyundai Motor has appointed Jose Munoz as co-CEO, marking a historic shift for the South Korean conglomerate. Munoz, a Spanish native and US citizen, joins the automaker’s leadership team alongside existing co-CEOs Euisun Chung, Lee Dong-seok, and Chang Jae-hoon, who will also serve as group vice chair.

This leadership reshuffle comes as Hyundai, the world’s third-largest automaker (with Kia), braces for policy challenges under Donald Trump’s presidency, including potential tariffs on imports and the rollback of EV subsidies.

Munoz’s Role and Impact

  • Boosted Hyundai’s US presence since joining in 2019, focusing on electrification and increasing sales across categories.
  • Will enhance global management systems and steer Hyundai’s response to trade and policy uncertainties under Trump, including tariffs and tax credit reductions.

Hyundai's Strategic Moves

  • Invested $12.6 billion in Georgia, Hyundai’s largest investment outside South Korea, for EV and battery cell production.
  • Hired former US diplomat Sung Kim to oversee global external affairs, reinforcing its Global Policy Office to address trade and geopolitical risks.

Challenges Ahead

  • Trump’s proposed 200% tariffs on Mexican imports, which could impact Kia’s production in Mexico.
  • End of the $7,500 EV tax credit, which may affect Hyundai’s EV sales strategy.

Hyundai’s decision to appoint Munoz highlights its commitment to global leadership and adapting to shifting geopolitical landscapes while solidifying its position as a key player in the EV market.

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