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Drafting: @Jungle lee
In the month of October with the financial budget, the market had no expectations before the budget and even less vitality afterwards, leading to a significant 2.85% drop in the Malaysian stock market in October, marking the largest decline in two years. The lack of exciting factors domestically, coupled with external headwinds, makes it difficult to maintain the key level of 1600 points in the new month.
FTSE Bursa Malaysia KLCI Index $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ Although there was an initial rise on the first day of October, it was a 'peak on the first day,' followed by a downward trend for the entire month; after the budget announcement on the 18th, the next 8 trading days saw 7 declines, with the month closing just above 1600 points at 1601.88, marking a decrease of 47.03 points or 2.85% for the whole month. The last time it dropped by a larger margin was in September 2022, with a total decline of 7.77% for the month.
During the month of October, the market sentiment was mainly driven by the ongoing campaigning for the US presidential election, the launch of multiple economic revitalization plans in China, and the presentation of Malaysia's 2025 budget by Prime Minister Datuk Seri Anwar.
Wong Chun Sang, Retail Research Director at Fenglong Investment Bank, stated in an interview with the Nanyang Business Daily that, taking Malaysia as an example, the 2025 budget is basically a budget with a focus on the people, with no major surprises overall, mainly laying the foundation for the country's economy, and not having much impact on the stock market...
In the month of October with the financial budget, the market had no expectations before the budget and even less vitality afterwards, leading to a significant 2.85% drop in the Malaysian stock market in October, marking the largest decline in two years. The lack of exciting factors domestically, coupled with external headwinds, makes it difficult to maintain the key level of 1600 points in the new month.
FTSE Bursa Malaysia KLCI Index $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ Although there was an initial rise on the first day of October, it was a 'peak on the first day,' followed by a downward trend for the entire month; after the budget announcement on the 18th, the next 8 trading days saw 7 declines, with the month closing just above 1600 points at 1601.88, marking a decrease of 47.03 points or 2.85% for the whole month. The last time it dropped by a larger margin was in September 2022, with a total decline of 7.77% for the month.
During the month of October, the market sentiment was mainly driven by the ongoing campaigning for the US presidential election, the launch of multiple economic revitalization plans in China, and the presentation of Malaysia's 2025 budget by Prime Minister Datuk Seri Anwar.
Wong Chun Sang, Retail Research Director at Fenglong Investment Bank, stated in an interview with the Nanyang Business Daily that, taking Malaysia as an example, the 2025 budget is basically a budget with a focus on the people, with no major surprises overall, mainly laying the foundation for the country's economy, and not having much impact on the stock market...
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$Alphabet-C (GOOG.US)$ You should play microsoft after you finish playing tonight.![]()
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$Invesco QQQ Trust (QQQ.US)$ $Tesla (TSLA.US)$
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Hi mooers! ![]()
Two of the Mag 7 companies, $Apple (AAPL.US)$ and $Amazon (AMZN.US)$, are both set to release their last quarter earnings on October 31 after the bell. Who will win the market? Make your guess!
Rewards
● An equal share of 5,000 points: For mooers who correctly guess the winner who makes the biggest %gains in intraday trading on the first day after their earnings (e.g., If 50 mooers make a correct guess, each of them will get 100...
Two of the Mag 7 companies, $Apple (AAPL.US)$ and $Amazon (AMZN.US)$, are both set to release their last quarter earnings on October 31 after the bell. Who will win the market? Make your guess!
Rewards
● An equal share of 5,000 points: For mooers who correctly guess the winner who makes the biggest %gains in intraday trading on the first day after their earnings (e.g., If 50 mooers make a correct guess, each of them will get 100...
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1. GST is not dared to be reinstated, afraid that previous criticisms of GST will backfire, insisting on the need for a minimum salary of 3-4000 is all nonsense. It is obvious that allowances can be given to B40 to offset GST, which can also attract money from foreigners and foreign workers to spend. Now with SST, it's not certain if taxes from foreigners can be collected. Furthermore, with GST in place, there would be no need for e-invoices. Not reinstating GST has made everyone busier, requiring additional tasks. If SST is really so good, why do many other countries opt for GST instead of SST?
2. Making foreign workers contribute to EPF, does the Prime Minister feel that the country has too much money to do charity work? Our neighboring Singapore used to require foreign workers to contribute to CPF, but they made a U-turn after a few years, and recently they are even asking foreigners to close their accounts. Some may not think that requiring foreign workers to contribute to EPF is a big deal, but companies need to allocate an additional 13% of the foreign workers' wages to EPF, which ultimately will be borne by consumers. EPF also incurs annual interest, making it an unwise decision.
3. Minimum salary of 1700 per month, this policy is like treating a headache with a headache and a foot pain with a foot pain. The fundamental reason is not that the wages are insufficient, but rather the current market prices are too chaotic, and what needs to be rectified is not just the minimum wage, but the need to address the root causes. Of course, this also leads to increased costs, which will also be passed on to consumers.
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2. Making foreign workers contribute to EPF, does the Prime Minister feel that the country has too much money to do charity work? Our neighboring Singapore used to require foreign workers to contribute to CPF, but they made a U-turn after a few years, and recently they are even asking foreigners to close their accounts. Some may not think that requiring foreign workers to contribute to EPF is a big deal, but companies need to allocate an additional 13% of the foreign workers' wages to EPF, which ultimately will be borne by consumers. EPF also incurs annual interest, making it an unwise decision.
3. Minimum salary of 1700 per month, this policy is like treating a headache with a headache and a foot pain with a foot pain. The fundamental reason is not that the wages are insufficient, but rather the current market prices are too chaotic, and what needs to be rectified is not just the minimum wage, but the need to address the root causes. Of course, this also leads to increased costs, which will also be passed on to consumers.
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Happy weekend investors, it was moomoo's 12th Birthday this week! Welcome back to Weekly Buzz, where we discuss the top buzzing stock news on moomoo this week! Comment below to answer the Weekly Topic question for a chance to win an award!
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Weekly Buzz
The market fell during a heavy earnings week, and there is still more to come. There is less than two weeks to the U.S. election, and earnings reports from the largest companies in t...
Make Your Choice
Weekly Buzz
The market fell during a heavy earnings week, and there is still more to come. There is less than two weeks to the U.S. election, and earnings reports from the largest companies in t...
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$JTIASA (4383.MY)$ CPO prices have skyrocketed, but palm oil stocks are still sleeping.
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