Day: July 29, 2024

KUALA LUMPUR, Bursa Malaysia opened higher on Monday, in sync with Wall Street’s strong performance last Friday after the latest United States (US) personal consumption expenditure (PCE) for June came in within market expectations. According to the US Commerce Department, the PCE price index increased by 0.1 per cent month-on-month and up 2.5 per cent year-on-year in June, in line with the market consensus. At 9.12 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.89 points to 1,618.77 from last Friday’s close of 1,612.88. The index opened 4.28 points higher at 1,617.16. On the broader market, gainers led losers

KUALA LUMPUR, Local institutions bolstered Bursa Malaysia last week with a net purchase of RM256.4 million, following two weeks of selling, according to MIDF Amanah Investment Bank Bhd (MIDF). In its weekly fund flow report, the investment bank said the local retailers also ended their three-week net selling streak by buying RM167.0 million last week. Conversely, foreign investors reversed their three weeks of net buying, selling RM423.5 million worth of domestic equities. “Tuesday was the only day with a net foreign inflow, totalling RM151.1 million, while the rest of the week saw foreign funds exiting the market,” it said. The

KUALA LUMPUR, U Mobile Sdn Bhd and Time dotCom Bhd have established a strategic partnership in anticipation of the accelerated deployment of its 5G network under the government’s dual network model. U Mobile said the partnership will see it tap into Time’s extensive fibre backhaul network to prepare for its second 5G network rollout. “Through this collaboration, U Mobile further strengthens its ability to ensure a superior 5G experience that is highly reliable, supports massive capacity and delivers ultra-fast speeds,” the mobile and digital services provider said in a statement today. U Mobile chief technology officer Woon Ooi Yuen said