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.
Wall Street closed higher after Trump unveiled a reciprocal tariff plan, boosting tech stocks like Nvidia, Apple, and Tesla. Meanwhile, Malaysia’s FBM KLCI dropped 0.67% below the key 1,600-point level as market caution persisted.
📊 Wall Street Highlights
🔹 S&P 500: 6,115.07 (+1.04%)
🔹 Dow Jones: 44,711.43 (+0.77%)
🔹 Nasdaq Composite: 19,945.46 (+1.50%)
📌 Key Movers:
- Intel (INTC): +7%, highest close YTD.
- Nvidia (NVDA): Gained as HP Enterprise shipped Nvidia’s Blackwell AI system; earnings on Feb 26.
- Robinhood (HOOD): +14% after earnings doubled estimates; revenue surged 115% y-o-y.
- Tesla (TSLA): +5% on news of a $400M State Dept. budget for armored Cybertrucks.
📌 Tariff Impact: Trump’s plan aims for reciprocal tariffs, creating both optimism and caution in global markets.
🇲🇾 Bursa Malaysia Market Insight
🔹 FBM KLCI: 1,592.28 (-0.67%)
🔹 Top Gainer: MISC (RM7.41, +2.35%)
🔹 Top Loser: MR DIY (RM1.58, -4.24%)
🔹 USD/MYR: 4.4370 (-0.43%)
📌 Market Sentiment:
- Decliners outpaced gainers (573 vs 422) with 2.56 billion shares traded (RM2.22B total value).
- Investors remain cautious amid external uncertainties, including the looming trade war triggered by Trump’s tariff plans.
📌 Stocks to Watch in Malaysia
🔹 Sunway (5211.MY): Finalized a RM2.6B mixed-use development in Johor, near the JB-Singapore RTS Bukit Chagar station.
🔹 Airport (5014.MY): Applied for delisting from Bursa with shares suspended from Feb 20, 2024.
🔹 Maybank (1155.MY): Stable Q4 net interest income with growing loans and improving net interest margins (NIM).
🔍 What’s Next?
✔️ Investors eye US tariff developments and their impact on Malaysian exports.
✔️ Sunway’s Johor project could boost its property and construction segments.
✔️ Maybank’s stable earnings outlook provides confidence amid global uncertainties.
📌 While Wall Street rallies on tariff news, Malaysian markets remain cautious, balancing growth potential with global trade risks.
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