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.
Bitcoin hit a record high, surging past US$112,000 for the first time as global risk appetite surged, ignoring renewed tariff tensions from President Donald Trump.
Key Highlights
BTC rose as much as 3.1% to US$112,009, bringing its year-to-date gain to nearly 20%.
The surge mirrors a wider rally in tech and risk assets, including Nvidia’s historic brush with a US$4 trillion valuation.
The S&P 500 is now hovering near its all-time high, helped by bullish momentum and strong ETF flows.
“Voracious demand from equity vehicles like ETFs and digital-asset Treasuries is driving this relentless bitcoin bid,” said Spencer Hallarn, GSR.
Why It’s Rallying
ETF inflows, rising institutional adoption, and macroeconomic support are fueling bitcoin’s breakout.
Post-election sentiment suggests that Trump’s return could bring lighter crypto regulation, encouraging investor optimism.
Institutional demand is now “structural, regulated, and sticky”, said Adam Guren, CIO of Hunting Hill Global Capital.
“BTC is benefiting from both a ‘gold-like’ hedge position and risk-on investor appetite,” Guren added.
Market Sentiment & Derivatives
On Deribit, short-term bullish options show heavy interest at the US$115,000 and US$120,000 strike levels.
Traders remain cautious, eyeing potential profit-taking or macro shifts, but sentiment is strongly bullish.
“The trend is bullish for now, but traders should remain alert for corrections,” warned Vincent Liu, CIO at Kronos Research.
Takeaway
Bitcoin’s record high reflects renewed confidence in digital assets amid market volatility, rising institutional exposure, and expectations of rate cuts. For many, it’s not just a trade — it’s a shift toward crypto as a mainstream store of value.
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