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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

China’s Vision of a Shared Future Inspires Malaysia's BRICS Participation

 Malaysian Prime Minister Datuk Seri Anwar Ibrahim expressed that China’s principle of a shared future has resonated strongly across Asia, Africa, Latin America, and the Global South, leading Malaysia to pursue participation in BRICS (Brazil, Russia, India, China, and South Africa). Speaking at the 7th China International Import Expo (CIIE), Anwar praised President Xi Jinping’s recent BRICS address in Kazan, which emphasized unity against discord and protectionism. Anwar noted the importance of China's commitment to global peace and economic cooperation. “We must build a community with a shared future to uphold global peace, security, and share expertise and technologies globally,” he stated, referencing Xi’s vision. Recognizing Malaysia as the “Country of Honour” at this year’s CIIE, Anwar spoke after Chinese Premier Li Qiang, followed by other global leaders, commending China’s inclusive trade policies. Highlights from Anwar’s Address: China's Global Role : He acknowledged Ch

IMF Predicts Growth Shift Towards BRICS, Decline for G7 Economies

The International Monetary Fund (IMF) expects a significant shift in global economic growth, with the BRICS nations — China , India , Russia , and Brazil — playing a larger role in driving expansion over the next five years. This forecast, based on purchasing power parity (PPP) , highlights the growing reliance on emerging markets over wealthier G7 countries, such as the US , Germany , and Japan . According to the IMF’s latest outlook, China will contribute 22% of global growth through 2029, surpassing the combined total of all G7 nations. India is set to add nearly 15% , further solidifying its role as a global growth engine. The report also shows emerging economies like Egypt and Vietnam will contribute similar growth shares to advanced economies like Germany , Japan , France , and the UK . In contrast, Canada and Italy , the smallest G7 economies, are expected to contribute less than 1% each, lagging behind populous nations like Bangladesh and the Philippines . This pr

Russia Proposes BRICS Payment System to Reduce US Financial Dominance

Russia is pushing for the creation of a new multicurrency payment system within the BRICS group to reduce reliance on the US-dominated global financial system. This initiative comes as Russia seeks to protect its economy from Western sanctions and develop alternatives to traditional cross-border payment networks like SWIFT . A report prepared by Russia’s Finance Ministry , the Bank of Russia , and Moscow-based consultancy Yakov & Partners outlines proposals for the BRICS nations (Brazil, Russia, India, China, and South Africa) to conduct transactions in local currencies and establish direct links between central banks . The goal is to create a payment system that shields participants from extraterritorial sanctions and ensures their financial sovereignty. The proposal also includes the establishment of trade centers for key commodities such as oil, natural gas, grain, and gold to further strengthen economic cooperation within the bloc. In addition, Russia is advocating fo