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Market Daily Report: Bursa Malaysia Ends Higher As Easing US Treasury Yields Boost Risk Appetite

KUALA LUMPUR, Aug 20 (Bernama) -- Bursa Malaysia ended higher on Thursday as easing US Treasury yields improved risk appetite following the US Treasury’s announcement of increased buyback operations, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.39 points, or 0.31 per cent, to 1,736.71 compared with Wednesday’s close of 1,731.32. The benchmark index opened 0.79 of a point higher at 1,732.11, and fluctuated between 1,732.11 and 1,739.13 throughout the day. On the broader market, losers outpaced gainers 610 to 577, while 610 counters were unchanged, 1,075 untraded and 16 suspended. Turnover increased to 4.28 billion units valued at RM4.01 billion from 3.31 billion units valued at RM2.92 billion on Wednesday.   IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said lower yields helped ease pressure on growth stocks, with technology counters benefitting from renewed investor interest.
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US Economy Powers Ahead: Q3 Growth Revised to 3.1% Amid Consumer and Export Strength

The US economy grew faster in Q3 than previously estimated, driven by strong consumer spending and a surge in exports, according to revised figures from the Bureau of Economic Analysis released Thursday.

Key Highlights

GDP Growth

  • Gross Domestic Product (GDP) increased at a 3.1% annualized rate in Q3, up from the prior estimate of 2.8%.
  • Consumer spending, a key driver of the economy, was revised to 3.7% from 3.5%.

Exports Surge

  • Exports expanded by 9.6%, significantly higher than the previous estimate of 7.5%, with growth entirely attributed to services.

Inflation Metrics

  • The personal consumption expenditures (PCE) price index, excluding food and energy, was revised slightly higher to 2.2%.

Economic Resilience

  • The revised data reinforces that the economy remains strong, defying forecasters’ predictions of a slowdown.
  • This comes on the heels of the Federal Reserve signaling slower rate cuts in 2025, influenced by stronger-than-expected economic data.

Other GDP Components

  • Business investment, residential investment, and government spending also saw upward revisions, contributing to the stronger overall performance.
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