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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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Taiwan Stocks Drop Amid Export Slowdown Concerns; Emerging Market Currencies Subdued

Key Takeaway: Taiwan's stock market hit a two-week low on concerns over moderating export growth and risks tied to potential US tariff hikes under President-elect Donald Trump.



Taiwan Market Highlights

  • Stocks in Taipei: Fell 1.1%, led by a 1% decline in Taiwan Semiconductor Manufacturing Co and an 8.5% drop in Foxconn Technology.
  • Taiwan Dollar: Weakened by 0.2% against the US dollar.
  • October Exports: Estimated to grow 3.8% YoY, down from 4.6% in September, signaling slower growth in export demand.

Semiconductor Sector Risks:

  • Strong demand for AI and high-performance computing chips has likely peaked, according to analysts at DBS.
  • Trump’s proposed tariffs and technology restrictions pose a significant challenge for Taiwan’s trade-dependent semiconductor industry.

Regional Market Snapshot

  • South Korea:
    • Equities surged 2.2%, driven by Samsung Electronics’ buyback plans.
  • Thailand and Malaysia:
    • Bangkok: Gained 0.8%.
    • Kuala Lumpur: Rose 0.7%.

Philippines:

  • Stocks up 1% following the launch of a new interest rate swap market to enhance liquidity and bond trading. The peso remained stable.

Indonesia:

  • Rupiah flat ahead of Bank Indonesia’s rate decision later this week.
  • Jakarta stocks dipped 0.2%.
  • Mandiri Sekuritas revised its 2025 rate cut forecast from 100 basis points to 50 basis points, expecting the central bank to maintain a cautious stance.

Global Context

The movements in Asian equities follow last week’s global sell-off, triggered by concerns over:

  • Trump’s inflationary fiscal policies.
  • Strong US retail sales data, which raises expectations that the Federal Reserve might pause rate cuts in 2025.

Outlook for Taiwan

  • Taiwan’s export-heavy economy, particularly its semiconductor sector, faces risks from US trade policies and a cooling global electronics demand.
  • The October export data, due Wednesday, will provide key insights into the trajectory of Taiwan's trade performance and broader economic outlook.
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