KUALA LUMPUR, Oct 20 (Bernama) -- Bursa Malaysia’s benchmark index edged higher at the close as bargain hunting emerged following Monday’s sharp sell-off, although it narrowly failed to reclaim the 1,600 level, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.83 points, or 0.24 per cent, to 1,599.58 from Monday’s close of 1,595.75. The index opened 3.18 points lower at 1,592.57, marking its intraday low, and reached an intraday high of 1,602.83 in early trading. On the broader market, decliners outnumbered gainers 751 to 331, while 499 counters were unchanged, 1,259 untraded and 10 suspended. Turnover rose to 2.86 billion units worth RM2.42 billion against Monday’s 2.49 billion units worth RM2.38 billion.
Hong Kong home prices rose for the 12th straight month in May, marking the longest growth streak since 2018. The recovery is driven mainly by strong demand from mainland Chinese buyers, though tighter capital controls could pose risks ahead. Hong Kong’s housing recovery is real, but heavily dependent on mainland demand. What’s Happening Prices continue rising +1.4% month-on-month in May +12% year-on-year Longest rally since 2018 12 consecutive months of gains First sustained recovery after years of decline Demand driven by mainland buyers Wealthy, educated migrants entering Hong Kong Attracted by low taxes and visa flexibility Transaction outlook improving Expected up to 80,000 deals in 2026 (highest since 2012) What’s the Risk China tightening scrutiny on cross-border funds Banks increasing checks on mainland buyers Potential impact on ability to fund property purchases Key Takeaway Hong Kong property is recovering but the key driver is external liquidity. Strong rebound su...