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.
Chinese investors now have a new avenue to invest in Saudi Arabian stocks with the debut of two exchange-traded funds (ETFs) focused on equities in the oil-rich nation. These funds, launched today in Shanghai and Shenzhen, come as China and Saudi Arabia continue to deepen their economic ties. Key Highlights: ETF Listings: Shenzhen Listing: The China Southern Asset Management CSOP Saudi Arabia ETF QDII launched in Shenzhen, raising 634 million yuan (US$87 million or RM408.19 million). Shanghai Listing: The Huatai-PineBridge CSOP Saudi Arabia ETF QDII began trading in Shanghai after raising 590 million yuan. Performance: Both funds traded close to their listing prices as of 10:20 a.m. local time. Investment Opportunities: Diversification: These ETFs provide mainland investors with an opportunity to diversify their holdings internationally, particularly in sectors such as energy and oil. Strategic Timing: The launches come at a time when Beijing is strengthening its ties with Gulf na...