KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Traders pulled out of Nasdaq-100 futures at the fastest rate this year, driven by a significant selloff in chipmakers after ASML Holding NV unexpectedly lowered its 2025 guidance. This led to a massive contraction in futures holdings.
Open interest in Nasdaq-100 futures fell by $5.7 billion, the biggest drop in 2024, according to Bloomberg data. Despite volume reaching 524,000 contracts, slightly above the 20-day average, traders moved out of the broader technology sector in response to ASML’s announcement, triggering declines across semiconductor shares.
Globally, chipmakers lost $420 billion in value, with the Philadelphia Semiconductor Index dropping 5.3%, the steepest fall since September. Major players like Nvidia Corp were caught in the wave of selloffs, as uncertainty around the chip market outlook extended beyond 2025.
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