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Market Daily Report: Buying In Consumer Stocks Helps Bursa Malaysia Close Slightly Higher

KUALA LUMPUR, June 18 (Bernama) -- Bursa Malaysia’s key index finished marginally higher, supported by strong buying interest in consumer-related counters, amid mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 1.40 points, or 0.08 per cent, to 1,711.39 from Tuesday's close of 1,709.99.  The key index opened 12.36 points firmer at 1,722.35 and moved between 1,711.31 and 1,722.63 throughout the session. Market breadth was negative, with losers leading gainers 678 to 493, while 549 counters were unchanged, 1,016 untraded and 34 suspended. Turnover increased to 4.50 billion units worth RM3.45 billion from 3.93 billion units worth RM3.45 billion on Tuesday.
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BlackRock Advocates for Bitcoin Allocation in Multi-Asset Portfolios

BlackRock (BLK.US), the world’s largest asset manager, is recommending a 1% to 2% allocation of Bitcoin (BTC)within multi-asset portfolios, as detailed in a report by the BlackRock Investment Institute. The firm emphasizes that while Bitcoin can enhance diversification, exceeding the 2% threshold could significantly amplify portfolio risk.

Key Insights:

  1. Bitcoin’s Role in Portfolios:

    • A 1%-2% allocation to Bitcoin offers a risk-return profile comparable to the "Magnificent Seven" tech stocks when integrated into a traditional 60/40 equity-bond portfolio.
    • Bitcoin’s low correlation with other assets can provide diversification benefits, but its inherent volatilitymimics the risk of highly concentrated tech equity investments.

  2. Risk Management:

    • Allocations exceeding 2% may disproportionately increase portfolio risk, underscoring the need for careful balancing.
    • Historical Bitcoin drawdowns, ranging from 70%-80%, highlight its extreme volatility despite its current performance.

  3. Recent Market Developments:

    • Bitcoin’s price has surged 140% in 2024, recently trading at record highs above $100,000.
    • The introduction of U.S. spot Bitcoin ETFs has significantly fueled inflows, attracting over $113 billion in assets since their January launch, with $10 billion pouring in since November.

  4. Impact of Policy and ETFs:

    • Crypto-friendly policies under President-elect Donald Trump and pro-crypto leadership appointmentshave created a favorable environment for cryptocurrencies.
    • BlackRock’s Bitcoin ETF is among those benefitting from heightened institutional and retail interest.

Expert Commentary:

  • Samara Cohen, Chief Investment Officer of ETF and Index Investments at BlackRock, remarked:
    • “Bitcoin’s low asset correlation can aid diversification, but its volatility aligns it with high-risk tech stocks.”
    • A small allocation can boost returns without significantly compromising risk management, while excessive exposure could exacerbate portfolio volatility.

Takeaway for Investors:

  • Balanced Allocation: A 1%-2% Bitcoin allocation can enhance portfolio diversification without disproportionately increasing risk.
  • Cautious Optimism: Despite its potential, Bitcoin’s volatility demands a disciplined approach to prevent overexposure.
  • Market Evolution: The rise of spot Bitcoin ETFs and favorable policy shifts are key drivers in integrating Bitcoin into mainstream investment strategies.

Bitcoin's increasing institutional adoption and its alignment with evolving market dynamics make it a compelling asset for diversification, albeit with caution.

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