KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
While US Federal Reserve rate cuts are welcomed by manufacturers like Drew Greenblatt, president of Marlin Steel , they offer little relief from the bigger challenges faced by US factories , especially the intense competition from China . Greenblatt's Baltimore-based factory saw a surge in orders during the COVID-19 pandemic as a key client shifted production out of China, but those orders dried up this year when the customer moved back to China to cut costs. Despite a half-point rate cut by the Fed, Greenblatt's situation highlights deeper issues that lower rates can't solve, such as supply chain disruptions , rising material costs , and growing labor unrest . The fierce competition from China remains a significant hurdle for many US manufacturers, particularly as customers prioritize cost savings. Vice President Kamala Harris is set to introduce new economic policies aimed at helping Americans build wealth, with specific incentives for businesses. This comes ahead of...