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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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Japan Machinery Orders Fall Unexpectedly in September 2024

Key Takeaway: Japan’s core machinery orders fell unexpectedly by 0.7% in September, signaling a pause in recovery, though growth is anticipated in the coming quarter.

September Highlights

  • Month-on-Month Decline:

    • Core machinery orders dropped 0.7%, missing economists’ expectations for a 1.9% increase.
    • This marks the second consecutive monthly decline.

  • Year-on-Year Decline:

    • Orders fell 4.8% YoY, sharply underperforming forecasts of a 2.2% rise.

  • Sector Performance:

    • Manufacturers: Orders were flat month-on-month.
    • Non-Manufacturers: Orders rose 1.5%, showing resilience in some areas.

Economic Outlook

  • Government Stance:
    The Cabinet Office maintained its assessment that the recovery is pausing.
  • Quarterly Projections:
    • Machinery orders are expected to grow 5.7% in Q4 2024, indicating potential improvement in capital spending.

Implications

Core machinery orders, a volatile but critical gauge of capital expenditure over the next 6-9 months, reflect uncertainty in Japan’s economic recovery. While flat manufacturing orders and weak YoY figures highlight challenges, the positive outlook for Q4 suggests business confidence may rebound. Policymakers and investors will closely watch upcoming data for signs of sustained recovery.

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