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.
The S&P 500 and Nasdaq ended Friday at record highs, supported by optimism over a potential US-European Union trade deal and a strong earnings report from Deckers Outdoor, the maker of UGG boots and Hoka sneakers.
Market Highlights:
S&P 500: +0.40% to 6,388.64
Nasdaq: +0.24% to 21,108.32
Dow Jones: +0.47% to 44,901.92
European Commission President Ursula von der Leyen is set to meet US President Donald Trump on Sunday, with EU officials indicating that a trade framework could be finalized soon. Trump said the odds of a deal were “50-50.”
Company Movers:
Deckers Outdoor: +11% after beating quarterly estimates with strong international demand.
Intel: -8.5% after forecasting deeper losses and announcing more job cuts.
Charter Communications: -18% on worse-than-expected broadband subscriber losses.
Centene: +6.1% on improved profitability outlook for 2026.
Paramount Global: -1.6% after regulators approved its US$8.4B merger with Skydance Media.
Weekly Performance:
S&P 500: +1.5%
Nasdaq: +1%
Dow: +1.3%
The S&P 500 logged a record close every day this week, marking its first “perfect week” since November 2021.
Sector Moves:
9 of 11 S&P 500 sectors rose.
Materials led with a +1.17% gain, followed by Industrials at +0.98%.
Fed and Rates:
Investors are now focused on next week’s Federal Reserve meeting, where policymakers are expected to hold rates steady while assessing tariff impacts. Traders are pricing in about a 60% chance of a September rate cut.
Earnings Season Ahead:
Upcoming reports from Microsoft, Apple, Amazon, and Meta could set the tone for the next leg of the market rally. S&P 500 companies are expected to post 7.7% earnings growth for Q2, driven largely by tech giants.
Key Takeaways:
Optimism around trade deals and strong earnings are fueling new market highs.
Deckers’ performance highlights continued consumer strength in premium footwear.
Intel’s weak forecast underscores challenges in the semiconductor sector.
All eyes now turn to the Fed’s rate decision and big tech earnings to see if the market can sustain its record-breaking run.
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