KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
Key Market Movements
- Nasdaq Composite (-1.35%) fell sharply, dragged by tech stocks.
- S&P 500 (-0.41%) recorded its fourth straight losing session.
- Dow Jones (+0.37%) ended higher, bucking the broader downtrend.
Major Stock & Crypto Updates
- Tesla (TSLA) plunged over 9%, bringing its market cap below $1 trillion.
- Solventum (SOLV) soared 10% after Thermo Fisher Scientific (TMO) announced a $4.1 billion acquisition of its purification and filtration unit.
- Bitcoin dropped to $87,000, a three-month low, as the crypto market saw an overall 10% decline.
- VIX spiked to 21.28, the highest since Jan. 27, indicating growing market volatility.
Bond Market & Earnings Watch
- 10-year Treasury yield fell below 4.3%, its lowest level since December, signaling recession fears.
- Upcoming Earnings:
- After the bell: Intuit (INTU), CAVA Group (CAVA), Maplebear (CART), Workday (WDAY).
- Wednesday: Nvidia (NVDA) earnings—market watchers anticipate a major impact.
Summary:
- Nasdaq led the market decline, down over 200 points, while Dow gained slightly.
- Tesla slid 9%, losing its $1 trillion market cap.
- Bitcoin fell to $87K amid a broader crypto selloff.
- 10-year Treasury yields dropped, fueling recession concerns.
- Nvidia’s earnings on Wednesday could be a major market driver.
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