U.S. 10Y touches 5%, AI stocks tumble and oil stays above US$105 markets brace for tomorrow’s Fed decision Global markets enter Tuesday with three pressure points converging: U.S. borrowing costs briefly crossed 5%, oil remains above US$100, and the AI trade suffered a sharp reset overnight . The S&P 500, Dow and Nasdaq all closed lower Monday, while the Philadelphia semiconductor index plunged 5.9% . For Malaysian investors, there was one encouraging counterpoint: the FBM KLCI rebounded 0.66% to 1,698.01 , snapping four consecutive losing sessions despite the difficult global backdrop. 30-second market snapshot Market / Asset Latest 🇺🇸 S&P 500 7,619.98, -0.48% 🇺🇸 Dow Jones 52,421.20, -0.29% 🇺🇸 Nasdaq 26,186.41, -0.56% 🇲🇾 FBM KLCI 1,698.01, +0.66% 💵 USD/MYR ~4.04–4.05 🇺🇸 U.S. 10Y Treasury briefly >5%; ~4.98% later 🥇 Spot gold ~US$4,313/oz, -0.8% 🛢️ Brent US$105.68/bbl, +~1% ₿ Bitcoin ~US$79,150, +~2% Monday The dollar strengthened Mo...
KUALA LUMPUR (April 30): The FBM KLCI closed up 27.48 points or 1.99% at 1,407.78 today after broad-based buying lifted share prices across Bursa Malaysia as global investors cheered encouraging early results of a Covid-19 treatment trial. In Malaysia, analysts and remisiers said, local shares also appeared to take their cue from International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali’s statement on Tuesday that realising the urgent need to tackle the current economic crisis, the government had agreed that the economic sectors that were allowed to operate during phases one, two and three of the movement control order (MCO) period be allowed to raise their operational capacity to the fullest and operate without time limits effective yesterday. Maybank Investment Bank Bhd remisier Jeffry Azizi Jaafar told theedgemarkets.com : "More businesses have been allowed to operate at full capacity, which creates a positive perception that th...