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 retreated on Tuesday as rising geopolitical tensions and economic concerns weighed on investor sentiment. The focus remained on potential U.S. interest rate cuts, the upcoming earnings report from AI leader Nvidia, and escalating tensions in the Middle East, all of which contributed to a cautious market environment.
Key Takeaways:
Geopolitical Risks and Market Reactions: Investor anxiety heightened due to renewed conflict between Israel and Lebanon’s Hezbollah, coupled with supply concerns following Libya's announcement of oilfield closures. These developments drove a surge in oil prices, although they slightly eased in early trading on Tuesday. Gold, a traditional safe-haven asset, remained near record highs as investors sought stability amid the geopolitical turmoil.
Impact of Global Economic Policies: The market's attention is also focused on U.S. Federal Reserve Chair Jerome Powell’s recent indication of forthcoming interest rate cuts. Markets are anticipating a 25-basis-point cut in September, with the potential for further reductions depending on key economic data, including the U.S. personal consumption expenditure price index and the August payrolls report. This anticipation has led to volatility in currency markets, with the yen experiencing fluctuations and the U.S. dollar firming slightly.
Asian Market Performance and Investor Sentiment: The MSCI’s broadest index of Asia-Pacific shares outside Japan fell by 0.36%, pulling back from a one-month high. Japan's Nikkei, China’s CSI 300, and Hong Kong’s Hang Seng Index all posted losses, with the latter particularly affected by disappointing earnings from PDD Holdings, reflecting weaker consumer spending in China. Additionally, Canada’s decision to impose tariffs on Chinese electric vehicles, steel, and aluminum has further dampened market sentiment in the region.
In summary, Asian markets faced pressure from a combination of geopolitical tensions, economic uncertainty, and trade policy developments, leading to a cautious approach by investors as they await further clarity on global economic trends and corporate earnings.
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