KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Quick Summary Stamp duty for homes above HK$100m raised to 6.5% (from 4.25%) Targets only 0.3% of transactions Luxury sales surged in late 2025 Home prices rose 3.3% in 2025 , first annual gain in four years What Changed? Hong Kong will increase stamp duty on luxury residential properties valued above HK$100 million to 6.5% , up from 4.25%, according to Financial Secretary Paul Chan. The measure: Takes effect Thursday Still requires Legislative Council approval Expected to generate around HK$1 billion annually The policy mainly affects the ultra-luxury segment , accounting for just 0.3% of total transactions . Why Now? The move comes after a strong rebound in high-end sales: 81 deals above US$10 million in Q4 2025 — the highest since late 2021 Home prices rose 3.3% in 2025 , ending a four-year decline Luxury momentum has been driven by: Renewed investor confidence Improving economic outlook Expectations of further price g...