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.
The coming week is packed with market-moving events as Wall Street watches earnings from major tech players, the Federal Reserve's policy meeting, and renewed U.S.-China trade negotiations.
Key Earnings to Watch:
Meta Platforms (META) – Expected to post its slowest sales growth in two years. AI-enhanced ad targeting supports revenue, but margins may face pressure from heavy AI investments.
Microsoft (MSFT) – Projected 14% revenue growth driven by cloud and AI. Investors are keen to see if Azure can sustain near 30% growth amid a recent cyberattack.
Apple (AAPL) – Analysts expect Greater China sales to rebound after two years, boosted by promotions. Services revenue is forecast to notch an eighth straight quarter of double-digit growth. Concerns remain over iPhone demand amid tariff headwinds and AI delays.
Amazon (AMZN) – Retail remains resilient under tariff pressure. Cloud revenue is expected to grow over 5% sequentially, with continued investment in AI and automation.
Coinbase (COIN) – Faces declining market share and its slowest trading volume growth in 18 months. Stablecoin growth may support subscription and service revenue.
Other notable names reporting include UnitedHealth, Visa, Qualcomm, Chevron, Robinhood, SoFi, and Arm Holdings.
Fed Meeting:
The Federal Reserve is widely expected to hold rates at 4.25%-4.50%. However, tensions over the central bank's independence are rising following President Donald Trump’s recent criticism and visit to the Fed’s headquarters. Powell’s Q&A session post-meeting will be closely scrutinized for policy signals.
US-China Trade Talks:
Negotiations in Stockholm aim to address:
China's heavy export reliance.
Calls to cut “excessive capacity” in sectors like steel and EVs.
Boosting domestic consumption to rebalance China’s economy.
Optimism for progress has grown after Trump announced trade deals with Japan, Indonesia, and the Philippines. However, the looming Aug 1 tariff deadline remains a source of market risk.
Market Context:
S&P 500 and Nasdaq are at record highs.
Valuations are stretched, with the S&P 500 trading at 22.6x earnings, well above its long-term average.
Volatility is low, but pockets of speculative activity hint at rising risk appetite.
Outlook:
This week’s results from the Magnificent Seven, combined with the Fed meeting and trade headlines, will set the tone for the next market move. Investors are especially focused on whether AI-driven capital spending can deliver near-term profitability or if the hype cools down.
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