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KLCI Slides as Profit-Taking Hits Blue Chips, Ringgit Holds Firm

Malaysia’s benchmark index retreated as  profit-taking in key heavyweights  weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI :  1,684.93 (-0.83%) FBM Mid 70:  -0.00% (flat) FBM Small Cap:  -0.23% FBM ACE:  +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume:  3.54 billion shares Total value:  RM4.19 billion Gainers:  456 Losers:  678 Unchanged:  550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY)   +1.54% Petronas Gas (6033.MY)   +1.18% Sunway (5211.MY)   +1.15% Losers Hong Leong Bank (5819.MY)   -3.29% Maybank (1155.MY)   -3.02% CIMB (1023.MY)   -2.47% Banking sector weakness was the main ...
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Markets Close Mixed: Nasdaq Falls 200+ Points, Tesla Drops Below $1 Trillion

 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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