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 ...
U.S. equities held steady on Friday, while Treasury yields edged lower and global markets were calm. Investors are in wait-and-see mode, watching for new corporate earnings, tariff headlines, and the Fed’s next move.
Macro Highlights
Consumer sentiment improved in July and inflation expectations declined, according to the University of Michigan.
But risks remain: U.S. single-family homebuilding fell to an 11-month low in June due to high mortgage rates and economic uncertainty.
Retail sales and jobless claims earlier in the week showed modest economic strength, helping push stocks to record highs — until Trump’s tariff talk brought fresh concerns.
Global Markets Snapshot
S&P 500: Flat (-0.01%)
Nasdaq: +0.05%
Dow: -0.32%
MSCI World Index: +0.13% (hit record intraday)
Europe (STOXX 600): Flat for the day, slightly down for the week
U.S. Tariff Concerns
Trump is reportedly pushing for a 15–20% minimum tariff on the EU, unmoved by EU offers on auto tariffs.
That news dampened market mood, triggering profit-taking into the weekend, especially in high-valuation names like Netflix (-5%) and Amex (-2.3%).
“Tariff headlines reminded investors that volatility is likely to persist into August,” said Lindsey Bell of 248 Ventures.
Earnings Season Incoming
Investors are positioning ahead of a busy earnings calendar, especially for tech and megacap stocks.
Options expiration on Friday added to trading flows — some bullish bets made out of fear of missing out, according to Granite Wealth’s Bruce Zaro.
FX & Rates
U.S. dollar dipped slightly, though it still logged a weekly gain.
Euro rose to $1.1626, but trimmed gains after tough U.S. trade stance emerged.
USD/JPY climbed to 148.73 amid political uncertainty in Japan.
Bond Market Moves:
10-year yield: Fell to 4.42% (down 3.9 bps)
2-year yield: Down to 3.87% (down 4.4 bps)
30-year yield: Fell to just below 5.00%
Declines were aided by Fed Governor Waller’s push for a rate cut, although most Fed officials still support holding rates steady. Market odds show a 95% chance of no change at the upcoming meeting.
Commodities
Oil:
WTI: $67.34 (-0.3%)
Brent: $69.28 (-0.35%)
Traders balanced EU’s sanctions on Russia with mixed U.S. data
Gold:
Rose 0.33% to $3,349.66 as investors sought safety amid weak dollar and geopolitical risks
Platinum:
Pulled back slightly after hitting 2014 highs
Money Master Takeaway
Market is calm on the surface, but uncertainty is building.
Investors are juggling:
Earnings expectations
Tariff risks
Fed divergence (Waller vs. the rest of FOMC)
Risk-on momentum may pause short-term, especially with valuations stretched and policy clarity lacking.
Comments
Post a Comment