KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 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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