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Market Daily Report: Bursa Malaysia Ends On Softer Note Amid Profit-taking

KUALA LUMPUR, June 22 (Bernama) -- Bursa Malaysia ended on a softer note today as investors engaged in profit-taking following the recent rebound in the local market, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 0.65 per cent, or 11.19 points, to 1,700.84 from last Friday's close of 1,712.03. The benchmark index opened 1.56 points lower at 1,710.47 and moved between 1,699.94 and 1,712.32 throughout the trading session. Market breadth was negative, with decliners outnumbering gainers 560 to 481.  A total of 608 counters were unchanged, 1,649 untraded, and 14 suspended. Turnover slipped to 3.29 billion units worth RM2.40 billion from 3.45 billion units worth RM3.79 billion on Friday.
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Thailand Stocks Surge on Surprise Rate Cut; Baht Holds Steady

BOT’s Unexpected Move Spurs Market Rally

  • The Bank of Thailand (BOT) cut its interest rate by 0.25 percentage points, surprising economists.
  • The move aims to support economic growth and weaken the baht to boost exports.
  • 16 out of 26 economists in a Reuters poll had expected no change in policy.

Market Reactions

  • Thai stocks jumped 2%, rebounding after two consecutive sessions of losses.
  • The baht remained flat, despite expectations of further rate cuts later this year.
  • Other Asian markets gained:
    • Philippines (+1.3%)
    • Malaysia (+1.2%)
    • China (+1%)

Regional Currency Movements

  • Singapore dollar, Malaysian ringgit, and Indonesian rupiah fell 0.2%.
  • Taiwan dollar traded flat after Taiwan revised down its 2025 GDP forecast to 3.14% from 3.29%.
  • US dollar index gained 0.3%, recovering from an 11-week low.

Outlook & Future Risks

  • Analysts expect one or two more rate cuts if the US imposes tariffs on Thailand or if global growth slows.
  • BOT joins South Korea in easing rates, while Indonesia and the Philippines kept theirs unchanged.
  • The Trump administration’s semiconductor restrictions on China remain a key global economic factor.

Summary:

  • BOT unexpectedly cut interest rates by 0.25%, boosting Thai stocks by 2%.
  • The baht remained stable, while regional currencies saw slight losses.
  • Further rate cuts are possible, depending on global risks.
  • Markets in China, the Philippines, and Malaysia also posted gains.
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