KUALA LUMPUR, Jan 27 (Bernama) -- Bursa Malaysia finished in the negative territory today dampened by subdued trading observed across the board ahead of the upcoming Chinese New Year (CNY) festive holidays, said an analyst. At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 14.76 points, or 0.94 per cent, to end at its intraday low of 1,558.97 compared to Friday’s close of 1,573.73. The benchmark index opened marginally lower by 0.42 of-a-point at its intraday high of 1,573.31 and moved in a downtrend path towards closing. Market breadth was negative with decliners thumping gainers 782 to 235, with 415 counters unchanged, 916 untraded and 60 suspended. Turnover narrowed to 2.76 billion units valued at RM2.38 billion compared to 3.0 billion units valued at RM3.06 billion registered last Friday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan noted that the thin trading volume today indicated a clear retreat by investors ...
Global markets kicked off the week with mixed moves as crude oil prices tumbled and US equity futures rose, with traders reassured by Israel’s targeted strikes on Iran that avoided key oil facilities. This development has eased immediate geopolitical fears, sending Brent crude prices down by more than 5% at one point.
US futures for the S&P 500 and Nasdaq 100 climbed, signaling a potential rebound for Wall Street following the S&P 500’s first weekly decline in seven weeks. European stock futures also gained, while Treasury yields jumped, with the 10-year yield hitting 4.28%, the highest level in over three months.
In currency markets, the yen dropped to its weakest level in three months after a snap election in Japan, while China’s stocks slipped following disappointing industrial profit data in September, raising concerns about economic momentum.
Meanwhile, this week is expected to be pivotal, with corporate earnings reports from five of the Magnificent Seven tech giants, key economic data from the US, Eurozone, and the UK, and the US presidential election on the horizon.
The weaker yen provided some relief for Japan's export-heavy economy, pushing the Topix Index up by as much as 1.8%. In contrast, Chinese shares edged lower after the release of weak industrial profit figures.
Adding to the excitement, Waaree Energies Ltd., India’s largest solar-panel maker, saw its shares surge nearly 75% in its debut following a $514 million initial public offering.
This week’s major events include US job openings, consumer confidence, goods trade data, and the UK budget announcement, as well as earnings from major companies such as Meta, Microsoft, Amazon, and Apple.
Key Market Moves:
- S&P 500 futures rose 0.5%
- Nasdaq 100 futures rose 0.7%
- Brent crude fell 4% to $72.97 per barrel
- 10-year Treasury yield advanced to 4.28%
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