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
Global stocks climbed on Tuesday, with the MSCI World Index rising 1%. Meanwhile, US bond yields and the dollar pulled back from recent highs as investors awaited key announcements from President-elect Donald Trump’s cabinet and assessed the future of US interest rates.
Tech stocks led gains, reflecting Wall Street's recovery from last week’s sell-off. However, investors were cautious ahead of Nvidia’s earnings report on Wednesday.
Key Market Moves
- Global stocks: MSCI World Index up 1%, snapping a four-day losing streak.
- Regional performance:
- Europe: STOXX index rose 0.2%.
- Japan: Nikkei gained 0.5%.
- Australia: Equity benchmark up 0.8%, hitting a record intraday high.
- Taiwan: Shares advanced 1.3%.
- China: Mainland blue chips dropped 1.2%, weighed by uncertainty over potential Trump tariffs.
US futures edged higher, with S&P 500 futures pointing to a 0.1% gain after Monday’s 0.4% advance.
Fed Outlook and Trump's Policies in Focus
The market's outlook for a quarter-point rate cut in December has dropped to less than 59%, down from 62% just a day ago, according to CME FedWatch.
- Trump’s fiscal policies, including higher tariffs and tighter immigration, are seen as inflationary, potentially limiting Fed rate cuts.
Investors are also closely watching Trump’s Treasury Secretary and Trade Representative picks, which are yet to be announced.
“Markets are assessing how Trump’s policies will impact economic conditions, trade, and geopolitics,” said Kyle Rodda, senior analyst at Capital.com. Interest rate decisions remain critical for future market moves.
Dollar Slips While Gold and Bitcoin Gain
- The dollar index held at 106.23, close to Monday’s low, after touching a one-year high last Thursday.
- Gold rose 0.28% to $2,619, benefiting from dollar weakness and geopolitical concerns over the Russia-Ukraine conflict.
- Bitcoin climbed 0.37% to $91,688, inching closer to last week’s record high of $93,480, fueled by optimism for favorable cryptocurrency regulation under Trump.
Oil Steady After Gains
Oil prices remained stable after Monday’s $2-a-barrel rise.
- Brent crude: Down 0.2% to $73.14.
- WTI crude: Slipped 0.27% to $68.97.
Crude prices were supported by Norway’s Johan Sverdrup oilfield shutdown due to a power outage.
Geopolitical Tensions Escalate
Safe-haven assets like gold surged nearly 2% on Monday amid concerns over the Russia-Ukraine conflict. The Kremlin warned that the US’s decision to allow Ukraine to use American-made weapons for strikes deep into Russia could increase risks of a confrontation with NATO.
Investor Takeaway
- Stocks are rebounding, with tech leading the way.
- Interest rate speculation remains a major market driver.
- Geopolitical risks and Trump’s upcoming decisions could heavily influence the next moves in global markets.
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