KUALA LUMPUR, April 8 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) erased earlier gains to close marginally lower on Tuesday as mild bargain hunting activities were offset by cautious mode over ongoing global uncertainties. At 5 pm, the benchmark index slipped 0.24 of-a-point, or 0.02 per cent, to 1,443.56 from yesterday’s close of 1,443.80. The benchmark index opened 7.63 points firmer at 1,451.43 and climbed to as high as 1,454.58 in early trade before retreating to a low of 1,440.89 towards the end of the morning trading session. It then moved in a yo-yo mode during the afternoon session. In contrast, the broader market was positive with gainers outpacing decliners 669 to 367, while 419 counters were unchanged, 894 counters untraded, and nine others suspended. Turnover dwindled to 3.32 billion units valued at RM2.83 billion against 5.35 billion units valued at RM4.67 billion on Monday.
Key Takeaway:
Crypto-related equities saw modest gains in overnight trading as Bitcoin stabilized above $83,250, with risk sentiment returning selectively across digital asset proxies. Meanwhile, GameStop shares rallied nearly 3% following an increased stake by CEO Ryan Cohen, reigniting interest in retail-driven meme stocks.
Crypto Equity Snapshot:
Hut 8 (HUT): +3.1%
MicroStrategy (MSTR): +2.2%
Marathon Digital (MARA): +1.4%
CleanSpark (CLSK): +1.2%
Bitcoin (BTC): +0.5% to $83,250
Ethereum (ETH): +0.3% to $1,815
The move follows broader flight-to-alternatives activity, with investors parsing volatility across traditional asset classes after U.S. tariff announcements.
Meme Stock Watch:
- GameStop (GME): +2.9%CEO Ryan Cohen’s additional share purchase has fueled speculative momentum, drawing renewed attention from retail forums and options markets.
Market Perspective:
Despite broader risk-off sentiment, these gains reflect selective positioning in alternative and speculative assets, potentially as short-term hedges or opportunistic trades.
What to Watch:
Crypto sentiment remains fragile amid macro uncertainty; options positioning in BTC and ETH shows elevated implied volatility.
GameStop’s move may invite short-term retail interest, but sustained performance will hinge on fundamental updates and broader market mood.
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