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.
The UK government has confirmed a record allocation of £1.5 billion (US$1.9 billion or RM8.87 billion) to support new renewable power capacity in an upcoming auction, marking a significant step towards eliminating carbon emissions from its power grid. Key Allocations and Objectives The increased budget includes £1.1 billion specifically for offshore wind farms, as initially reported by Bloomberg News. This move follows a previous auction that failed to attract bidders due to the low guaranteed power price. “This will restore the UK as a global leader for green technologies and deliver the infrastructure we need to boost our energy independence, protect bill payers, and become a clean energy superpower,” stated Energy Secretary Ed Miliband. Strategic Importance The higher budget aims to kickstart projects that require several years to complete. The UK's newly elected administration has set an ambitious target to achieve a zero-carbon power grid by 2030. The previous government had...