KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia closed marginally lower on Friday, as cautious sentiment persisted, with investors remaining on the sidelines amid ongoing conflicts in West Asia, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.80 points, or 0.16 per cent, to 1,695.50 from Thursday’s close of 1,698.30. The benchmark index opened 5.82 points higher at 1,704.12, and moved between 1,693.65 and 1,708.12 throughout the day. However, market breadth remained positive, with gainers outnumbering losers 634 to 415, while 521 counters were unchanged, 1,077 untraded and 10 suspended. Turnover improved to 3.38 billion units worth RM2.95 billion from yesterday’s 3.20 billion units worth RM3.50 billion.
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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