KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
The S&P 500 and Nasdaq Composite opened at fresh record highs Monday after the US and European Union struck a trade pact slashing tariffs, setting a bullish tone for a week filled with megacap earnings, a Fed meeting, and a looming tariff deadline.
S&P 500: +0.08%
Nasdaq Composite: +0.28%
Dow Jones: -0.10% at 44,855.92, roughly 215 points from its record.
Trade Deal Boosts Confidence
President Donald Trump and European Commission President Ursula von der Leyen agreed to cut EU import tariffs to 15%, half the initially threatened 30%. The move follows a series of deals with Japan, Indonesia, and the Philippines last week, fueling hopes that a global trade war may be avoided.
Markets Brace for Key Earnings & Fed Meeting
The rally faces a critical test as Meta, Microsoft, Amazon, and Apple—four of the “Magnificent Seven”—report earnings this week.
Alphabet recently sparked AI optimism with a major capex boost.
Tesla edged up 0.4% after inking a US$16.5B chip deal with Samsung for next-gen AI hardware.
Traders are also watching the Fed’s two-day policy meeting starting Tuesday, with rates expected to stay steady. Odds of a September cut stand at 63%, according to CME FedWatch.
Other Movers
Nike: +2.1% after a JPMorgan upgrade to Overweight.
Ether-linked stocks: GameSquare and BTCS +4% as Ethereum prices hit a seven-month high.
Key Data Ahead
Markets are eyeing the PCE inflation report and non-farm payrolls to assess tariff impacts on prices and employment.
Bottom Line: The US-EU deal has given Wall Street another confidence boost, but with megacap earnings, Fed policy, and global trade talks all converging, this week could determine whether the market’s record-setting momentum holds.
Comments
Post a Comment