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Market Daily Report: Attractive Valuations Drive Buying, Bursa Malaysia Ends Higher

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.
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Asian Tech Stocks Rebound After US Market Dips

Quick Summary:

Asian tech shares bounced back early Thursday, tracking a recovery in US tech stocks after buyers stepped in during a late-session rebound on Wall Street.

 Key Highlights

  • Asian Tech Recovery:

    • 2 gainers for every 1 decliner in the MSCI Asia Pacific Tech Index.

    • TSMC gained 0.9% after a sharp fall on Wednesday.

    • Samsung Electronics and Advantest Corp also rose.

    • Nasdaq 100 futures dipped slightly (-0.1%) after recovering off the day’s lows.

  • Market Mood:
    Investors are cautious ahead of the Jackson Hole Symposium, where Fed Chair Powell is expected to speak about inflation and interest rates.

 Expert Views

“Markets may be pricing in too much optimism about a Fed pivot,”
said Kyle Rodda, Capital.com.

“Tech needs to stay strong to avoid a broad sell-off,”
warned Matt Maley, Miller Tabak.

 US Market Snapshot

  • Nasdaq 100 and Magnificent Seven tech stocks fell for the second and fourth straight days, respectively.

  • S&P 500 closed down for the fourth session.

  • Oaktree’s Howard Marks warned: “We may be in the early days of a bubble.”

 Fed Updates

  • FOMC minutes show most Fed officials see inflation risks as more serious than job market weakness.

  • Still, many believe the Fed is well-positioned to act if conditions shift.

  • Trump continued pushing for Fed Governor Lisa Cook to resign amid controversy, but she plans to stay on.

 Asia-Pacific Market Overview (10:35 AM Tokyo Time)

  • S&P 500 futures: -0.1%

  • Japan’s Topix: -0.6%

  • Australia’s ASX 200: +0.7%

  • Hang Seng: Flat

  • Shanghai Composite: +0.3%

Currency & Crypto

  • US Dollar Index, Euro, Yen, Yuan: All little changed

  • Bitcoin: -0.1% to US$114,260.92

  • Ether: -0.9% to US$4,318.15

Bonds & Commodities

  • 10-Year Treasury Yield: 4.29% (flat)

  • Japan 10Y Yield: 1.605% (unchanged)

  • WTI Oil: +0.6% to US$63.06

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