KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
Asian stocks surged on Wednesday, and the yen experienced volatility after the Bank of Japan (BOJ) raised interest rates. Investors also digested mixed results from tech giants Microsoft and AMD, highlighting differing impacts within the AI sector.
Key Points:
- BOJ Rate Hike: The BOJ increased its overnight call rate target to 0.25% from 0%-0.1%. It also announced a quantitative tightening plan to reduce monthly bond buying to ¥3 trillion by early 2026.
- Market Reaction:
- Japan's Nikkei index saw choppy trading, ending down 0.19%.
- Japanese government bond yields fell slightly post-decision.
- The yen fluctuated but remained flat at 152.81 per dollar, marking over a 5% gain in July.
- MSCI's Asia-Pacific index outside Japan rose 0.9%.
- Chinese blue-chip stocks and Hong Kong’s Hang Seng index both increased by about 2%.
Influences on the Market:
- Oil Prices: Rose from seven-week lows due to Middle Eastern tensions after Hamas reported the killing of its leader Ismail Haniyeh in Tehran.
- China’s Economy: Data revealed a contraction in China’s manufacturing for the third month in July, sustaining expectations for further economic stimulus from Beijing amid ongoing property crises and job insecurities.
Tech Earnings and AI Sector:
- Microsoft and AMD: Microsoft’s disappointing earnings impacted its shares and other tech stocks. Conversely, AMD’s strong performance boosted chip stocks, with Nasdaq futures rebounding 0.7%.
Central Bank Focus:
- Federal Reserve: The Fed's decision is expected later on Wednesday, with markets anticipating a pause in rate hikes but looking for indications of a potential rate cut in September.
- Interest Rate Speculation: Markets fully price in a 25 basis point cut in September, with an overall 68 bps reduction anticipated for the year.
Currency and Commodity Movements:
- Dollar Index: The index, measuring the dollar against six other currencies, was at 104.41, down 1.36% for July.
- Australian Dollar: Dropped to a three-month low following a soft inflation report, reducing expectations for further rate hikes.
- Oil Prices:
- US crude rose 1.65% to US$75.98 per barrel.
- Brent increased 1.49% to US$79.80 per barrel.
Summary:
Asian markets experienced a robust session, with the BOJ's rate hike introducing volatility in the yen. Mixed tech earnings underscored the varied impact of AI investments, while oil prices surged on geopolitical tensions. Central banks remain in focus, with investor attention on the Fed's upcoming rate decisions.
Comments
Post a Comment