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.
UK salaries grew at their slowest pace in three-and-a-half years in September, indicating a loosening labor market ahead of Chancellor Rachel Reeves’s first budget on Oct. 30, according to a survey by the Recruitment & Employment Confederation (REC) and KPMG . The survey revealed that an increase in available candidates and reduced demand for staff contributed to weaker pay growth for permanent hires , the slowest since February 2021. Wages for temporary staff even declined . The Bank of England (BOE) is closely monitoring wage inflation as it debates a possible interest-rate cut in November . Governor Andrew Bailey has suggested that the BOE might take a more aggressive stance on rate cuts if inflation trends continue to be positive. Neil Carberry , CEO of REC, noted that pay is moderating and falling below its long-term trend, which could push the BOE to cut interest rates sooner. The findings come as businesses grow increasingly concerned about tax hikes and spending...