KUALA LUMPUR, June 12 (Bernama) -- Selected blue-chip counters trading at attractive valuations helped Bursa Malaysia close higher on Friday, despite cautious market sentiment driven by developments in West Asia, volatility in crude oil prices and uncertainty over the global interest rate outlook. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 4.10 points or 0.24 per cent to 1,683.63 compared with Thursday's close of 1,679.53. The key index opened 5.34 points stronger at 1,684.87 earlier today and moved between 1,679.72 and 1,685.39 throughout the session. Market breadth was negative, with losers leading gainers 533 to 479, while 561 counters were unchanged, 1,130 untraded and 33 suspended. Turnover fell to 2.79 billion units worth RM2.31 billion from 3.32 billion units worth RM2.88 billion yesterday.
Global stocks climbed and the euro strengthened Monday after the U.S. secured a framework trade agreement with the EU, cutting the threatened tariffs in half and easing fears of a full-scale trade war.
🔹 Deal Details:
15% import tariff on most EU goods (down from the threatened 30%).
Europe agreed to buy U.S. energy and military equipment.
EU promised no retaliatory tariffs, a move analysts call “a big win for the U.S.”
🔹 Market Reaction:
S&P 500 futures: +0.4%
Nasdaq futures: +0.5%
European futures: +~1%
Euro: Firmed against USD, GBP, and JPY.
Asia: MSCI APAC index near a 4-year high; Nikkei slightly down after hitting a 1-year high last week.
Analysts say the deal with the EU, combined with the earlier Japan agreement and ongoing U.S.-China talks in Stockholm, has defused the risk of a prolonged global trade war ahead of the Aug 1 tariff deadline.
What’s Next:
Fed & BOJ Meetings: Both central banks expected to hold rates steady, but Powell’s comments on inflation and tariffs will be key.
Jobs & GDP Data: Could influence when the Fed starts cutting rates. ING predicts December for the first cut, possibly a 50 bps move.
Mega-Cap Earnings: Apple, Microsoft, and Amazon report this week; their outlook on AI and tariffs will guide market sentiment.
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