KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Muted Monday energy for Asia despite Wall Street’s historic highs
What’s Happening in Asia?
Asian stocks are expected to open cautiously flat to slightly up this morning after the US rally fizzled overnight.
🇭🇰 Hong Kong and 🇦🇺 Sydney point to small gains
🇯🇵 Tokyo looks flat — markets reopen after a public holiday and political shake-up
Wall Street Recap:
S&P 500 closed just above 6,300 (+0.1%) for the first time
Energy & chip stocks dragged, with Nvidia dipping
Treasuries rallied, especially long-term (30-year yield ↓ 4bps to 4.95%)
USD slipped against major currencies
Tariff Tension Builds
“Markets are bracing for impact.” – Matt Maley, Miller Tabak
- US President Trump may issue more unilateral tariff letters before Aug 1
- Philippine President Marcos Jr. is visiting Trump today to strike a last-minute deal
- EU is already preparing retaliatory measures if no deal is reached
Earnings Season: Game On
Tesla and Alphabet to report this week
Investors want more than numbers — AI spending updates are key
S&P 500 is trading at 22x expected earnings — room for error is thin
- UBS: “Bull market remains intact — we’re holding our S&P 500 target at 6,500 by June 2026.”
- Morgan Stanley: “Underappreciated tailwinds ahead.”
- Goldman Sachs: “Weak dollar offsets some tariff pain.”
- Nationwide: “Market volatility is eerily quiet... but calm can turn into complacency fast.”
Key Takeaway
Despite record highs, investor caution is creeping in.
Markets are waiting for corporate guidance, tariff clarity, and signs of how resilient the bull market really is.
Comments
Post a Comment