KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
US Federal Reserve (Fed) Chair Jerome Powell is facing an uphill battle to secure another large interest rate cut , especially as the labor market remains resilient . After the recent half-point rate reduction , which lowered the benchmark lending rate to 4.75%-5%, Powell emphasized the move was a recalibration to keep the labor market strong. This cut marked a break from the usual gradual approach of the Fed, with some officials supporting it based on inflation data showing that price growth was nearing the Fed’s 2% target . However, minutes from the meeting revealed that some officials preferred a more cautious 25-basis-point cut, indicating the Fed is not in a rush to cut rates quickly. Powell echoed this sentiment at a recent event, stating, "This is not a committee that feels like it’s in a hurry." Recent labor market data revealed a 254,000 increase in payrolls and a drop in unemployment to 4.1% , further supporting a measured approach. The Atlanta Fed’s GDP track