Day: September 9, 2024

KUALA LUMPUR, Shares on Bursa Malaysia retreated at the close on Monday, reflecting a lack of investor interest influenced by concerns regarding developments in the United States (US) and uncertainty about the magnitude of US interest rate cuts. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 1.63 points to 1,651.49, down from 1,653.12 at Friday’s close. The FBM KLCI had opened 5.92 points lower at 1,647.20 and fluctuated between 1,642.31 and 1,659.11 during the session. Across the broader market, decliners outpaced gainers, 738 to 333, with 439 counters unchanged, 944 untraded and 16 suspended. Turnover increased to

IPOH, The High Court today ordered two companies constructing a mini hydroelectric dam in Ulu Geruntum, Gopeng, to immediately vacate the Orang Asli customary land and halt the project. Judge Datuk Bhupindar Singh Gucharan Singh Preet also ordered Perak Hydro Renewable Energy Corporation Sdn Bhd and Conso Hydro R E Sdn Bhd to remove the equipment for the project from the area, granting them an interim stay of 30 days to remove large items such as pipes. The court also ordered the companies to pay a nominal compensation of RM10,000 for the ruined burial site and another RM10,000 for the

KUALA LUMPUR, Those with information about alleged misconduct by GISB Holdings Sdn Bhd are advised to report it to the Department of Islamic Development Malaysia (JAKIM) said Minister in the Prime Minister’s Department (Religious Affairs) Datuk Dr Mohd Na’im Mokhtar. He said detailed information is essential for JAKIM to conduct a thorough investigation into GISB’s activities. ‘I have directed JAKIM to meet with GISB’s top management. At the same time, anyone with information about GISB, whether current or former members, should come forward and file a report with JAKIM,’ said Mohd Na’im. He noted that determining whether a teaching is

KUALA LUMPUR, The ringgit ended the day lower against the US dollar as a risk-off mode emerged, with investors continuing to favour the safe-haven currency due to a cautious global growth outlook, an economist said. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the scenario could drive the US Federal Reserve to consider a cut of about 50 basis points next week. At 6 pm, the local note depreciated to 4.3700/3745 versus the greenback from last Friday’s close of 4.3275/3330. He also attributed the weaker ringgit performance to the US Dollar Index’s (DXY) rise to 101.482

KUALA LUMPUR, The Kuala Lumpur rubber market closed lower on Monday as worries about the outlook of US and China economic growth weighed on sentiment. However, Japanese rubber futures advanced for a second straight session today, buoyed by a weaker yen and worries over persistent wet weather in top producer Thailand. “In China, The National Bureau of Statistics reported that the country’s consumer price index (CPI) rose less than forecast by 0.6 per cent from a year earlier in August. “Its producer price index (PPI) slid 1.8 per cent from a year earlier, reigniting calls for further stimulus measures to