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.
China's economy is showing mixed signals with strong industrial production but weak consumption amid a property slump, leading to the slowest quarterly growth in five quarters. However, President Xi Jinping's long-term strategy for technology-driven "high-quality growth" is beginning to pay off. Key Developments: Technology Advancements: Despite challenges, China's tech sector, including electric vehicles (EVs), solar panels, and semiconductors, is growing rapidly. This growth helps cushion the economy against the property market downturn. Economic Goals: China aims for a growth target of around 5%. Advances in high-tech sectors are helping maintain this pace, contrasting with the deep economic setbacks experienced by Japan and America during their housing market crises. Policy Focus: Third Plenum: Xi and top Communist Party officials are meeting in Beijing to chart long-term economic plans, emphasizing the importance of tech-driven growth. Consumer Confidence:...