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KLCI Slides as Profit-Taking Hits Blue Chips, Ringgit Holds Firm

Malaysia’s benchmark index retreated as  profit-taking in key heavyweights  weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI :  1,684.93 (-0.83%) FBM Mid 70:  -0.00% (flat) FBM Small Cap:  -0.23% FBM ACE:  +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume:  3.54 billion shares Total value:  RM4.19 billion Gainers:  456 Losers:  678 Unchanged:  550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY)   +1.54% Petronas Gas (6033.MY)   +1.18% Sunway (5211.MY)   +1.15% Losers Hong Leong Bank (5819.MY)   -3.29% Maybank (1155.MY)   -3.02% CIMB (1023.MY)   -2.47% Banking sector weakness was the main ...
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024’s Market Winners: Bitcoin, Tech Stocks, and Gold Dominate Amid Global Shifts

The year 2024 was marked by transformative shifts in global financial markets, with standout performances from Bitcoin, U.S. equities, and gold, while other assets, like crude oil, faced challenges.

Key Market Highlights

1. Bitcoin’s 136% Surge: A Digital Gold Rush

  • Performance: Bitcoin soared 136.88%, becoming the top-performing asset of 2024.
  • Drivers:
    • Institutional Investment: Increased adoption for its inflation-hedging properties.
    • Bitcoin ETFs: Approval in the U.S. improved liquidity and accessibility.
    • Technological Advancements: Lightning Network upgrades attracted long-term investors.
    • Trump’s Re-Election: Analysts expect lenient crypto policies, including potential tax reductions and compatibility initiatives with the U.S. dollar.
  • Outlook: Analysts warn of potential regulatory scrutiny in 2025, but Bitcoin’s appeal may strengthen if inflationary pressures persist globally.

2. U.S. Equities Soar on Tech Leadership

  • Nasdaq: +32.74%
  • S&P 500: +26.86%
  • Key Drivers:
    • Generative AI Boom: Companies like Nvidia and Microsoft fueled the tech sector's exponential growth.
    • Federal Reserve Policy: A dovish stance mid-year bolstered liquidity.
    • Shareholder Returns: Stock buybacks and dividends drove prices higher.

3. Asia-Pacific Markets: Mixed Performance

  • Nikkei 225: +17.95%, supported by Japan’s ultra-loose monetary policy.
  • Hang Seng Index: +16.48%
  • FTSE China A50: +15.86%, recovering late in the year due to supportive policies.

4. Commodities: Gold Shines, Oil Stumbles

  • Gold: +28.68%, driven by geopolitical tensions and inflows into gold ETFs amid a weaker dollar.
  • Natural Gas: +30.88%, rebounding due to global cold waves and supply disruptions.
  • Crude Oil: -3.31%, impacted by the faster transition to renewables, reducing demand.
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