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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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Vietnam's President Warns Against Trade Wars in Response to Trump's Policies

Key Takeaway: Vietnam’s President Luong Cuong cautions that protectionism and trade wars could lead to recession and poverty, as Vietnam remains vulnerable to potential US tariffs under President-elect Donald Trump.

Speaking at the APEC CEO Summit in Peru, Vietnam President Luong Cuong criticized isolationist trade policies, emphasizing the need for international cooperation and adherence to WTO standards. He warned that imposing arbitrary tariffs without considering unique national circumstances could stifle innovation, reduce job opportunities, and hinder global economic growth.

Impact on Vietnam’s Economy:

  • Exports account for 85% of Vietnam’s GDP, with the US as its largest trading partner. Vietnam’s $100 billion trade surplus with the US last year makes it a potential target for Trump's tariff threats.
  • Analysts predict weaker growth prospects for Southeast Asia in 2025, with Vietnam particularly vulnerable to stalling foreign direct investment due to its reliance on trade.

Economic Resilience Amid Challenges:
Despite political shifts and an ongoing anti-corruption crackdown, Vietnam has maintained strong economic growth, projected at 6.5%-7% in 2025. The government is focusing on reducing logistical costs, improving infrastructure, and attracting investments from tech giants like Samsung and Intel.

Key Concerns for Vietnam:

  • Achieving recognition as a market economy by the US.
  • Progressing on the Comprehensive Strategic Partnership announced during President Joe Biden's visit.

President Cuong highlighted that Vietnam’s economic success depends on collaboration and balanced trade policies, urging global leaders to avoid policies that exacerbate economic divides.

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