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.
Confidence among US home builders increased in September for the first time in six months, just ahead of the Federal Reserve's anticipated interest rate cut from the current two-decade high. A measure of housing market conditions from the National Association of Home Builders (NAHB) and Wells Fargo climbed by two points to 41 this month, aligning with the median estimate of economists surveyed by Bloomberg. The index showed gains across all regions, signaling a broad improvement in sentiment. Metrics for prospective-buyer traffic and current sales rose from their 2024 lows, while an outlook index for the next six months jumped by four points to 53 , marking the largest increase since January. “With inflation moderating, the Federal Reserve is expected to start a cycle of monetary easing this week, which will create downward pressure on mortgage interest rates and reduce borrowing costs for land development and home construction,” said NAHB Chief Economist Robert Dietz . T...