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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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Malaysia Halal Pavilion on JD.com to Boost MSME Access to Chinese Market

Key Takeaway: The Malaysia Halal Pavilion on JD.com provides a powerful platform for Malaysian MSMEs to tap into China’s growing demand for halal products, offering opportunities across diverse sectors.

Highlights of the Initiative

  1. Direct Access to Chinese Consumers:

    • Malaysian halal MSMEs can now connect directly with over one billion users on JD.com, one of China’s largest e-commerce platforms.

  2. Expanding Product Categories:

    • The Pavilion markets halal food, cosmetics, skincare, and other products, with plans to include packaging materials, electrical goods, and more.

  3. Sales Projections:

    • HYT Cross Border Sdn Bhd aims to market 380-400 products on the platform, targeting an estimated RM5 million in sales within the first year.

Market Potential

  • Top Performance: Malaysian products rank in the top five in sales on JD.com, reflecting their strong appeal and potential in the Chinese market.
  • High Demand: Growing interest in halal products in China, supported by Malaysia’s reputation as a leader in globally certified halal goods.

Comments from Stakeholders

  • Datuk Norman Muhamad (Malaysian Ambassador to China):

    • The Pavilion showcases Malaysia’s export capabilities and strengthens MSME presence in international markets.
    • Highlights the effort to broaden halal offerings beyond food to other sectors like manufacturing materials and electronics.

  • Datuk Danny Tan Eng Ching (HYT Managing Director):

    • Confident in the quality and appeal of Malaysian halal products.
    • Emphasized Malaysia’s leadership in halal quality, cleanliness, and safety standards as key factors for success.

Strategic Impact

  1. Boost for MSMEs:

    • Simplifies entry into the Chinese halal market, reducing barriers and fostering growth.

  2. Strengthening Malaysia’s Halal Brand:

    • Expands visibility and reputation of Malaysian halal certification globally.

  3. Broader Economic Benefits:

    • Positions Malaysia as a global halal hub, leveraging high demand in key international markets like China.

Future Outlook

With strong demand for halal products and Malaysia’s trusted halal certification, the Malaysia Halal Pavilion on JD.com is set to be a game-changer for Malaysian MSMEs, enabling them to grow and compete in one of the world’s largest consumer markets.

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