KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Japan has renewed calls for China to broaden its outbound investment scheme, highlighting growing demand among mainland investors for exposure to Japanese equities. Satoru Shibata, an adviser to Japan’s Financial Services Agency (FSA) on China matters, voiced the request during a Tokyo forum on Friday. Citing “strong enthusiasm” from Chinese investors, Shibata emphasized the need to expand the Qualified Domestic Institutional Investor (QDII) programme — a key channel that enables Chinese firms to invest in overseas assets within government-imposed limits. 🗣️ "Local demand for Japanese shares is strong. A further expansion of the quota is necessary," Shibata said, noting that the view was his own and not official policy. Growing Appetite Meets Limited Access Chinese interest in Japanese equities surged last year as China’s domestic stock markets faced headwinds. A buying frenzy of Japan-focused ETFs by Chinese investors triggered trading halts and all...