KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25. The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended. Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.
Market Overview
- US equity futures bounced back on Wednesday, as investors shifted focus to Nvidia's highly anticipated Q4 earnings and evaluated the impact of Trump’s evolving trade policies.
- The rebound follows a volatile session, where major indices extended their declines amid concerns over rising tariffs and inflationary risks.
Nvidia Earnings in Focus
- Nvidia (NVDA), a key driver of AI sector growth, is set to report earnings later today.
- Key expectations:
- Revenue surge fueled by AI demand
- Guidance on next-gen GPU launches
- Competition with China's DeepSeek and regulatory challenges
- Investors will assess CEO Jensen Huang's comments on AI infrastructure and potential market risks.
Tech Stock Movers
- Super Micro Computer (SMCI) and Palantir (PLTR) saw pre-market gains, reflecting positive sentiment toward AI-linked stocks.
- Tesla (TSLA) continued its slide, with Elon Musk’s wealth taking a major hit as investor concerns mountover demand and competition.
Trump’s Trade Policies and Market Sentiment
- Markets remain cautious over Trump's proposed tariffs and regulatory shifts.
- Investors are watching for updates on US-China trade relations, which could impact tech stocks and semiconductor supply chains.
- The US dollar and Treasury yields have stabilized after recent declines.
Other Key Market Developments
- Amazon unveils its first quantum computing chip, marking a major step into the AI and cloud computing race.
- Hedge funds face fresh regulatory scrutiny, as global watchdogs monitor leveraged bets on interest rates and bond markets.
- Crude oil prices hold steady, while Bitcoin continues its selloff, trading near three-month lows.
Investor Watchlist
- Nvidia’s earnings call and AI sector outlook
- Federal Reserve commentary on inflation and rate cuts
- Trump’s tariff impact on corporate earnings and global trade
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