KUALA LUMPUR, Nov 12 (Bernama) -- Bursa Malaysia extended its losing streak for a fourth consecutive session, closing lower on Thursday amid continued broad-based selling that weighed on market sentiment, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 9.23 points or 0.57 per cent to 1,585.96 from Wednesday's close of 1,595.19. The benchmark index opened 3.61 points lower at 1,591.58 and fluctuated between an intraday low of 1,583.66 and a high of 1,592.89 throughout the day. Market breadth remained negative with losers thumping gainers 799 to 318, while 476 counters were unchanged, 1,181 untraded and 13 suspended. Turnover climbed to 3.06 billion units valued at RM2.56 billion compared with yesterday’s 2.90 billion units valued at RM2.33 billion.
Grab Holdings Ltd shares jumped up to 15% in US trading after the Southeast Asian ride-hailing and delivery giant raised its full-year earnings forecast to $308-313 million Ebitda, surpassing its earlier projection of $270 million. Grab’s third-quarter Ebitda reached $90 million , outpacing analyst expectations of $66.2 million, with the company reporting its second net profit ever. The stock climbed to $5.04 in after-hours trading, recovering from declines since its 2021 public debut. Revenue for 2024 is now forecast to reach up to $2.78 billion , slightly above previous estimates. Grab’s 42 million monthly users still represent significant growth potential in Southeast Asia’s population of 650 million. With a focus on balancing profitability and growth amid regional competition, Grab remains optimistic about the region’s long-term prospects.