KUALA LUMPUR, Aug 10 (Bernama) -- Bursa Malaysia ended marginally lower on Monday, as investors largely stayed on the sidelines and adopted a wait-and-see approach amid uncertainties over US monetary policy and geopolitical developments, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.38 of a point to 1,735.37 compared with last Friday’s close of 1,735.75. The index opened 0.10 of a point higher at 1,735.85 and fluctuated between 1,730.35 and 1,738.97 throughout the day. However, on the broader market, gainers thumped losers 707 to 447, while 573 counters were unchanged, 1,046 untraded and 21 suspended. Turnover narrowed to 3.49 billion units valued at RM2.55 billion from 3.55 billion units valued at RM3.47 billion last Friday.
Quick Summary DBS, OCBC, UOB and CIMB among bidders HSBC Indonesia retail assets valued at >US$200m Binding bids reportedly due mid-March Move reflects Southeast Asia expansion push Major Banks Target HSBC’s Indonesia Exit Some of Asia’s largest lenders are preparing bids for HSBC Holdings ’s retail assets in Indonesia, according to Bloomberg sources. Potential bidders include: DBS Group Holdings Oversea-Chinese Banking Corp (OCBC) United Overseas Bank (UOB) CIMB Group Holdings Sumitomo Mitsui Financial Group The assets could fetch more than US$200 million (RM777m) . Key point: Indonesia’s banking sector is heating up as global lenders retreat and regional giants expand. Why HSBC Is Selling Under CEO Georges Elhedery , HSBC has: Streamlined operations Cut management layers and jobs Reorganised into four core divisions Conducted targeted reviews in Australia, Indonesia and Egypt HSBC Indonesia: ~2,300 employees 28 branches Serves c...