Key Takeaways Renewed US-Iran tensions pushed Brent crude briefly above US$80 , reigniting concerns over global energy supplies. Despite geopolitical uncertainty, Wall Street avoided a sharp sell-off , suggesting investors believe the conflict remains manageable for now. Higher oil prices have revived expectations of a Federal Reserve rate hike , as markets worry about renewed inflation. Technology stocks remained relatively resilient , showing that AI continues to provide underlying support for equities. The next move in oil prices could determine whether market volatility returns. Market Insight When news broke that the US had launched fresh strikes on Iran , investors immediately rushed into the oil market. Brent crude briefly climbed above US$80 a barrel , as fears grew that escalating tensions could disrupt supplies through the Strait of Hormuz , one of the world's busiest energy shipping routes. Yet the reaction in equities was far more measured. Although the S...
Market Daily Report: Bursa Malaysia Ends At Intraday Low Despite Growing Optimism Over 13MP Announcement
KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia closed at its intraday low on Thursday, tracking weaker regional sentiment despite optimism on Malaysia’s strategic policy vision under the 13th Malaysia Plan (13MP) announcement. Prime Minister Datuk Seri Anwar Ibrahim tabled the 13MP at the Dewan Rakyat sitting today. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 11.25 points or 0.74 per cent due to late selling to settle at 1,513.25 from Wednesday’s close of 1,524.50. The benchmark index opened 0.51 of-a-point firmer at 1,523.99 and hit its highest level at 1,524.05 in the early session before trending downwards throughout the rest of the day. However, the broader market was slightly positive, with gainers outpacing losers 545 to 475, while 483 counters were unchanged, 992 untraded and 53 suspended.