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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
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AirAsia X Passenger Growth Soars 41% in 2024, Expands into Africa

AirAsia X Bhd recorded a 41% surge in passenger numbers in 2024 , carrying  over 4 million travelers , while  seat capacity grew 35% year-on-year (y-o-y) to 4.8 million . The airline’s  passenger load factor (PLF) improved to 83% , reflecting  strong demand for travel . 📈 Strong Growth in Passenger Traffic & Capacity 🔹  Total passengers in 2024:   4 million  (+41% y-o-y) 🔹  Total flights:   13,262  (+35% y-o-y) 🔹  Available seat per kilometre (ASK) capacity:   20.37 billion  (+31% y-o-y) 📌  4Q2024 Performance: Passengers carried:   1.1 million  (+20% y-o-y) Seat capacity:   1.3 million seats  (+20% y-o-y) PLF:   82%  (unchanged y-o-y) ASK capacity:   5.79 billion  (+21% y-o-y) Revenue seat per kilometre (RPK):   4.71 billion  (+23% y-o-y) 💬  AirAsia X:   "Demand for travel remains robust, supporting continuous growth in our network expansion." ✈️ Ex...
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Nigeria's Dangote Oil Refinery Begins Gasoline Production, Poised to Transform Market

Africa's largest oil refinery, the Dangote Oil Refinery near Lagos, Nigeria, is on the verge of producing significant volumes of gasoline, a development that could reshape the global fuel market. The facility, owned by Dangote Industries Ltd., is set to produce substantial amounts of road fuel, with the plant's initial output expected to start by the end of the week. Key Points: Production Capacity and Impact : The Dangote refinery, when fully operational, will have the capacity to process 650,000 barrels of crude oil per day, with more than half of that amount converted into gasoline. This could account for around 1% of global gasoline demand, which stands at about 27 million barrels per day. Initial production levels are forecasted at 90,000 barrels per day in the fourth quarter, rising to nearly 250,000 barrels per day in the second half of 2025. Strategic Importance for Nigeria : The refinery's ramp-up comes at a critical time for Nigeria, whose state oil company has fa...
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