KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25. The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended. Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.
Chinese & Asian Markets Overview
- Mainland China & Hong Kong stocks rebounded, with Chinese tech stocks up over 2%, led by Alibaba & JD.com.
- Asian markets traded mixed, reflecting uncertainty in the U.S. economy after weak consumer confidence data.
- Optimism in Chinese stocks persists, driven by AI advancements and President Xi Jinping’s engagement with corporate leaders.
Market Factors to Watch
- U.S.-China Trade Tensions: Trump's policies to decouple economic ties have unsettled global investors.
- Upcoming China Policy Meetings: Investors are watching for potential policy shifts or economic support measures.
- U.S. Fed Interest Rate Cuts: Markets are pricing in two rate cuts in 2025, as Treasury yields hit mid-December lows.
Global Market Reactions
U.S. Markets:
- S&P 500 futures up 0.2% after a four-day losing streak.
- Nvidia (NVDA) earnings on Wednesday could be a key driver for AI-related stocks.
Commodities:
- Copper rose after Trump ordered a review of potential tariffs.
- WTI crude steadied at $69.17/barrel, after dropping into the $60s range due to economic concerns.
- Gold retreated, while Bitcoin continued its decline, extending a 6% overnight drop.
Key Economic Events This Week
- Nvidia earnings (Wednesday) – A critical AI market barometer.
- U.S. PCE inflation report (Friday) – The Fed’s preferred inflation metric, expected to cool further.
- U.S. GDP & durable goods data (Thursday) – Market-moving economic indicators.
Summary:
- Chinese stocks rebound, led by tech, while U.S. markets remain cautious.
- AI and China’s policy direction remain key themes driving investor sentiment.
- Markets await Nvidia earnings and the Fed’s inflation report for further direction.
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