Key Takeaways Renewed US-Iran tensions pushed Brent crude briefly above US$80 , reigniting concerns over global energy supplies. Despite geopolitical uncertainty, Wall Street avoided a sharp sell-off , suggesting investors believe the conflict remains manageable for now. Higher oil prices have revived expectations of a Federal Reserve rate hike , as markets worry about renewed inflation. Technology stocks remained relatively resilient , showing that AI continues to provide underlying support for equities. The next move in oil prices could determine whether market volatility returns. Market Insight When news broke that the US had launched fresh strikes on Iran , investors immediately rushed into the oil market. Brent crude briefly climbed above US$80 a barrel , as fears grew that escalating tensions could disrupt supplies through the Strait of Hormuz , one of the world's busiest energy shipping routes. Yet the reaction in equities was far more measured. Although the S...
KUALA LUMPUR (Sept 29): Bursa Malaysia finished at its intra-day high for the second consecutive day on Wednesday, lifted by late buying in selected financial services as well as industrial products and services counters amid concerns over the local and global economic outlook, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.83 of-a-point or 0.05% to 1,547.65 from Tuesday’s close of 1,546.82. The index, which opened 4.86 points lower at 1,541.96, moved as low as 1,528.69 during the day. Meanwhile, market breadth was negative with decliners surpassing gainers 581 to 398, while 455 counters were unchanged, 870 untraded and 85 others suspended. Turnover declined to 3.67 billion units worth RM2.71 billion from Tuesday’s 5.45 billion units worth RM3.29 million. A dealer said investors’ sentiment turned cautious on Wednesday over the World Bank’s move to revise Malaysia’s 2021 economic growth projection downwards to 3.3% from the 4.5%...