KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Asian stocks inched higher on Thursday, cautiously tracking Wall Street’s overnight gains — but markets remain on edge ahead of two critical catalysts: the US June payrolls report and the possible final passage of Trump’s $3.3 trillion tax and spending bill.
What Moved the Market?
Wall Street Rally: S&P 500 and Nasdaq closed at record highs after Trump announced a new trade deal with Vietnam, boosting hopes for deals with India and others.
Asia Mixed:
MSCI Asia ex-Japan: +0.2%, just below a 4-year high
China blue chips: +0.2%
Nikkei: flat
Hang Seng: -0.6% after weak China services PMI
Dollar Still Weak: Fed credibility concerns and rate-cut pressure from Trump kept the dollar near 3.5-year lows.
MoneyMaster Take:
Markets are walking a tightrope — Trump’s policy blitz is bullish short-term, but it’s raising big fiscal and inflation questions. Meanwhile, investors are holding their breath for US payrolls data that could force the Fed’s hand on rates.
What to Watch Next
🔶 US Non-Farm Payrolls (Tonight)
Forecast: +110K jobs, jobless rate: 4.3%
A spike to 4.4% could bring a July rate cut back into play.
🔶 Trump’s $3.3T Tax Bill
Heading to the House for approval
Will slash taxes and cut social programs — but adds big debt risk.
🔶 Fed Pressure Builds
Trump again calls for Powell’s resignation
Markets now price just 25% chance of a cut this month, down from 70% if jobs data disappoints.
Smart Moves
✅ Stay nimble in Asia ex-Japan — the upside is limited by tariff jitters, but volatility = opportunity.
✅ Keep an eye on US yields and gold — rising unemployment + Fed tension = safe-haven rally risk.
✅ If payrolls disappoint, tech and rate-sensitive stocks could rebound fast. Watch S&P futures and 2Y yield moves.
Bottom Line
Asian equities are holding ground, but we’re at a make-or-break moment for global risk assets. A weak US jobs report could trigger a rate cut rally, but Trump’s chaotic policies and fiscal worries may cap gains. Volatility is back — be ready for the swing.
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