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 has broken through the US$120K mark, hitting a record high of US$121,344 — a 30% rally since December, fueled by:
✅ Fresh optimism after Trump’s re-election
✅ Strong inflows into spot Bitcoin and Ethereum ETFs
✅ Over US$1B in short positions liquidated last week
✅ Anticipation for “Crypto Week” in US Congress, with possible pro-crypto legislation on the table
“This shift signals Bitcoin is no longer just speculative — it’s becoming a macro hedge,” said George Mandres from XBTO Trading.
Still, not everyone’s convinced. Nansen’s Nicolai Sondergaard sees this as an isolated event, not a full macro-driven rally. But even he admits the current policy backdrop is favorable for Bitcoin.
BTC is up 30% YTD. Gold is steady. Stocks are near highs. Risk-on mood is back.
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