KUALA LUMPUR, Aug 20 (Bernama) -- Bursa Malaysia ended higher on Thursday as easing US Treasury yields improved risk appetite following the US Treasury’s announcement of increased buyback operations, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.39 points, or 0.31 per cent, to 1,736.71 compared with Wednesday’s close of 1,731.32. The benchmark index opened 0.79 of a point higher at 1,732.11, and fluctuated between 1,732.11 and 1,739.13 throughout the day. On the broader market, losers outpaced gainers 610 to 577, while 610 counters were unchanged, 1,075 untraded and 16 suspended. Turnover increased to 4.28 billion units valued at RM4.01 billion from 3.31 billion units valued at RM2.92 billion on Wednesday. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said lower yields helped ease pressure on growth stocks, with technology counters benefitting from renewed investor interest.
📈 Gapping Up
Pfizer (PFE)
- +2.9%
- Pfizer expects its 2025 profits to align with expectations as it focuses on cost control and debt reductionthrough the sale of non-core assets, rebuilding post COVID-19 sales slump.
Coinbase (COIN) & MicroStrategy (MSTR)
- COIN: +0.8% | MSTR: +0.7%
- Crypto stocks rally on Bitcoin surpassing $107,000, reflecting strong investor sentiment in the crypto market.
SolarEdge Technologies (SEDG)
- +13%
- Upgraded by Goldman Sachs to ‘Buy’ from ‘Sell’, citing 2025 as a turnaround year for the solar energy firm.
📉 Gapping Down
NVIDIA (NVDA)
- -1.6%
- Shares continue to slide, entering correction territory, as recent momentum in chip stocks cools.
Affirm Holdings (AFRM)
- -3.7%
- Shares fell after announcing a $750 million private note offering and plans to repurchase up to $300 million in common stock.
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