KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
Beijing’s Banking Stimulus Plan China to inject at least 400 billion yuan ($55B) into major banks as part of an economic stimulus package. The first batch includes Agricultural Bank of China and Bank of Communications , with the plan expected to be completed by June. Total capital injection could reach 1 trillion yuan ($138B), funded by special sovereign bond issuance. Market & Banking Sector Impact Agricultural Bank of China (+2.6%) and Bank of Communications (+2.2%) gained in Hong Kong following the news. China’s banking regulator first hinted at capital replenishment in September 2024 , with further confirmation from the Ministry of Finance. Despite Chinese banks exceeding capital requirements, they face shrinking margins, rising bad debt, and profit pressures. Economic Context & Policy Moves China has enacted broad economic stimulus measures , including: Mortgage rate cuts Lower key policy interest rates Encouraging more lending to support economic growth This is...