Bursa Malaysia remained higher in the middle of this morning, powered by bargain hunters after huge losses yesterday.
At 11 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.92 points to 1,537.84 from yesterday’s close of 1,530.92.
This opened 1.29 points higher at 1,545.87.
In the broader market, gains caused losses of 523 versus 302, while 373 meters remained unchanged, 1,077 unmarked, and 15 others suspended.
Turnover was 1.61 billion units worth 870.67 million RM.
Rakuten Trade Sdn Bhd said the unusual reaction to the 2022 budget led to a sharp decline in the FBM KLCI as the market weakened.
“We currently assume that the local stock market is under constant selling pressure as the outlook for the local stock market is generally so negative”.
“While there may be efforts to bargain, everything can be resolved by selling the business, as we expect capital releases to continue. We expect the index to rise in the range of 1,525-1,535,” he added.
Among higher stocks, Maybank, Public Bank, and IHH Healthcare added RMB 8.01, RM4 4.06, and Rs 6.50 each after two years, Tenaga earned RMB 6.50 a year and Petronas Chemicals declined a year to RMB 8.34.
Among active stocks, Exchange Trading gained 2.5 sen to 79.5 sen, Exchange Trading bonds rose half-a-sen to 5.5 sen, and Top Builder declined three sen to 2.5 sen, while Kanger International and TA Win remained unchanged, at four sen and 15.5 sen. , oz.
On the index board, the FBM gold index rose 58.34 points to 11,388.51, the FBMT 100 index rose 511.32 points to 11,010.82, the FBMT gold index rose 77.19 points to 15,046 points, and the FBMT 104 at 6195.04. 16. set 44.25 points for 7,094.48.
By sector, the industrial goods and services index rose 1.23 points to 203.37, the plantation index by 73.47 points to 6,786.88, and the financial services index by 47.08 points to 15,204.35 points.
Chinese Trade Has Set A New High For Malaysian Investment.
November 1 – China hopes trade and investment with Malaysia will reach a new level after the outbreak, said Zhan Yujing, China’s Ambassador to Malaysia.
According to Malaysia’s 12MP, China is ready to intensify trade and investment cooperation with Malaysia, use resources for cooperation in emerging fields, and promote China-Malaysia economic integration in the joint development of the two countries. he said.
There are potential areas of cooperation, such as the digital economy, power, and electronics manufacturing, advanced technology, and cybersecurity.
“Malaysia is the main hub of the 21st Century Silk Road, with a strategic location and a conducive business environment.”
“We are ready to open up with Malaysia, share our development experience and further deepen practical cooperation, strategic coordination, and cooperation planning to advance economic recovery and social development in the post-epidemic period.”
He said at the launch of the Kaino Aeropolis World Trade e-Platform (eWTP) here today, “We must turn the crisis into an opportunity, maximize our cooperation and deliver valuable and remarkable results.”
Owen said bilateral trade between China and Malaysia and non-financial investment from China to Malaysia increased by 43.9 percent and 76.3 percent respectively in the first half of this year.
China has been Malaysia’s largest trading partner for 12 consecutive years, making it the largest source of foreign direct investment in Malaysia’s industrial sector for five consecutive years.
Our two countries have always focused on enhancing cooperation in several areas, including industrial parks, infrastructure development, equipment manufacturing, ICT (information and communication technology), and the digital economy.
The signing of the Comprehensive Regional Economic Partnership Agreement has given a new impetus to the economic development of the Asia Pacific region, creating new sectors, new models, and new business models for our business collaboration.
“It plays an important role in supporting economic recovery and long -term well -being,” he said.
Awan said that the China-Malaysia “Regions and Roads” initiative would further enhance cooperation, harmonize development strategies, add new impetus to the development and set new milestones in cooperation.
He said the two countries would benefit from further enhancing bilateral economic cooperation.
For the past 47 years, China and Malaysia have enjoyed close ties, deep political trust, ever-expanding economic cooperation, and people-to-people ties and friendships.