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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

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
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Selangor Targets 60,000 Affordable Rumah Idaman Units by 2027, Says MB Amirudin

The Selangor government plans to build 60,000 affordable housing units under the Rumah Idaman initiative by 2027, according to Menteri Besar Datuk Seri Amirudin Shari. He stated that the construction momentum is progressing well, with 40,000 units currently awaiting planning and building permissions, and 10,000 units already under construction. Amirudin shared these updates during the Rumah Idaman , Putra Idaman , and Saujana Idaman groundbreaking ceremony. The Rumah Idaman initiative is designed to meet the increasing demand for affordable homes, particularly for Malaysians in the bottom 40% (B40) and middle 40% (M40) income groups, catering primarily to first-home buyers and small families. The Putra Idaman project, a collaboration between Oriental Interest Bhd (OIB) and Permodalan Negeri Selangor Bhd (PNSB) , will feature 502 semi-furnished units across two apartment blocks, each priced at RM250,000 . Completion is expected in 2028 , with units designed to be spacious a
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Incentives for Forest City to Bolster Iskandar Malaysia Real Estate Sector

The recently announced incentives for Forest City’s Special Financial Zone (SFZ) are expected to provide a significant boost to the real estate sector , particularly in the Iskandar Malaysia region, according to a note by RHB Research on Monday. RHB highlighted that the incentive package will have a positive spillover effect on property demand, commercial, and retail activities in the Iskandar region. Developers such as UEM Sunrise , Sunway Bhd , and Eco World Development Group Bhd are poised to benefit from the increase in real estate activity fueled by these incentives. The incentive package aims to position Forest City as a hub for family offices , attracting both local and international investments, and creating job opportunities in the long term. The strategic location of Forest City, being close to Singapore , a financial hub, is expected to attract asset management companies , financial institutions , and high-net-worth individuals . Several Singapore-based institutions ha
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New Urban Redevelopment Act to Tackle Safety of Aging Strata Buildings, Says Rehda Malaysia

The upcoming Urban Redevelopment Act in Malaysia will prioritize the safety of old strata residential buildings , many of which were constructed decades ago, according to the Real Estate and Housing Developers' Association (Rehda) Malaysia . "Due to their age, rundown buildings do not represent the image we want for our major cities. More importantly, these buildings may pose hidden dangers unknown to the residents. Rejuvenating them is the most sensible move to ensure nothing untoward happens," said Rehda Malaysia president Datuk Ho Hon Sang in a statement on Friday. Ho emphasized that while repairs can be done, there is a limit before renewal becomes essential . The new Act will provide a more structured approach to urban renewal efforts , focusing on rebuilding and modernizing urban areas. This initiative is expected to revitalize the property landscape in Malaysian cities, especially in regions with numerous old, dilapidated buildings. “Although the details of the i
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China Stocks’ 'Policy Put' is Breaking Down

Chinese officials appear relatively unconcerned about their country’s property market issues, as evidenced by their low prioritization of the sector in their recent policy goals. This lack of urgency is in stark contrast to market expectations and reactions. Key Highlights Policy Goals and Real Estate : Of the 60 policy goals outlined at the recent third plenum leadership summit, the real estate sector was not mentioned until item 44. The mention of the real estate sector was brief and lacked detailed plans to address the issues affecting the $17 trillion economy. Market Reactions : Investors have been repeatedly disappointed by short-lived rallies based on hopes of policy support for the real estate sector. President Xi Jinping’s crackdown on leverage has significantly impacted home prices, causing a confidence crisis among homebuyers and dragging down overall economic growth. Stock Market Performance : The CSI 300 stock benchmark has been flat since January, while Hong Kong's Han
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