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Market Daily Report: Bursa Malaysia Closes Lower Amid Renewed West Asia Tensions

 KUALA LUMPUR, July 9 (Bernama) -- Bursa Malaysia closed lower on Thursday as renewed geopolitical tensions in West Asia weighed on investor sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.97 points, or 0.36 per cent, to 1,677.64 from Wednesday's close of 1,683.61. The benchmark index opened 2.62 points lower at 1,680.99, and moved between 1,676.18 and 1,683.80 throughout the session. However, market breadth was slightly positive, with gainers leading losers 533 to 504, while 547 counters were unchanged, 1,112 untraded, and 12 suspended. Turnover slipped to 2.64 billion units valued at RM2.19 billion from 2.96 billion units valued at RM2.18 billion on Wednesday.
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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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