KUALA LUMPUR, Sept 7 (Bernama) -- Bursa Malaysia traded higher on Monday, supported by renewed buying interest in selected banking and telecommunications heavyweights, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.69 points, or 0.39 per cent, to 1,714.79, compared with Friday’s close of 1,708.10. The benchmark index opened 1.60 points higher at 1,709.70 and fluctuated between 1,708.26 and 1,715.29 throughout the trading session. The broader market, however, was negative with losers outpacing gainers 611 to 488, while 580 counters were unchanged, 1,109 untraded and 25 suspended. Turnover declined to 3.60 billion units valued at RM2.45 billion from 4.33 billion units valued at RM2.98 billion on Friday.
China Vanke has secured creditor approval to extend repayment on a yuan-denominated bond , easing near-term default risks for one of the last major Chinese developers still standing amid the sector downturn. According to a filing with the Shenzhen Stock Exchange , 92.11% of bondholders who exercised a put option on Vanke’s 1.1 billion yuan bond voted in favour of a revised proposal that includes an upfront cash payment . Under the plan, Vanke will repay 40% of the 1.03 billion yuan owed by Jan 30 , with the remaining balance deferred until Jan 22, 2027 . Why the Vote Matters The approval gives China Vanke Co crucial breathing room as it navigates an unprecedented property slump while carrying nearly US$50 billion in interest-bearing liabilities . It also signals that holders of two other bonds originally due last month may be open to similar extensions, with votes scheduled later this month. ...