Oil breaks US$100, Wall Street retreats and bond yields rise, inflation is becoming the market’s biggest risk again Global markets are starting Thursday in a more defensive position. Brent crude has broken above US$100 a barrel , U.S. Treasury yields are pushing higher, and Wall Street fell for a third straight session as investors reassess whether central banks may need to keep tightening rather than easing. For Malaysian investors, the key chain today is increasingly clear: Oil → inflation → interest rates → bond yields → USD/MYR → Bursa valuations. 30-second market snapshot Market / Asset Latest 🇺🇸 S&P 500 7,636.36, -0.48% 🇺🇸 Dow Jones 52,380.66, -0.77% 🇺🇸 Nasdaq 26,253.34, -0.64% 🇲🇾 FBM KLCI 1,714.34, virtually flat 💵 USD/MYR ~4.06 🇺🇸 U.S. 10Y Treasury ~4.84% 🇺🇸 U.S. 2Y Treasury ~4.42% 🥇 Gold ~US$4,396/oz 🛢️ Brent crude US$101.21/bbl 🛢️ WTI crude US$96.05/bbl ₿ Bitcoin ~US$79,300 🇯🇵 Nikkei ~64,760, -0.6% this morning Brent jumped about 3.4% Wednesda...
Global Market Overview
Trump’s Broad Tariffs Now in Force
U.S. markets were mixed overnight as Trump's sweeping tariff package officially took effect at midnight. While the Dow Jones fell 0.51% and the S&P 500 slipped 0.08%, the Nasdaq edged up 0.35% on gains in chip stocks, supported by optimism over waiver eligibility for companies investing in U.S. manufacturing.
Intel shares fell following renewed pressure over CEO ties to China.
Apple and other domestic chip manufacturers gained on expectations of tariff exemptions.
The EU moved to formalize a 15% cap on semiconductor tariffs, a step toward stabilizing transatlantic trade.
New Executive Order Boosts Alternative Investments
President Trump signed an order allowing 401(k) plans to invest in private equity, cryptocurrencies, and other alternative assets — a potential catalyst for digital and alternative investment firms. Bitcoin, Ether, XRP, and Cardano all posted gains.
Malaysia Market Snapshot
KLCI Ends at High Amid Sector Rotation, Policy Optimism
The FBM KLCI rose 7.63 points (+0.49%) to close at 1,549.11, its intraday high, driven by gains in utilities, technology, and positive macroeconomic signals. Investor sentiment was buoyed by:
Prime Minister Anwar Ibrahim’s Budget 2026 preview session, which emphasized fiscal support for semiconductors, energy transition, and the Islamic economy.
A stronger-than-expected Industrial Production Index (IPI) reading of +3.0% YoY for June.
Despite index gains, the broader market weakened with 517 decliners vs 424 gainers. Turnover fell to 2.21 billion shares worth RM2.35 billion.
Stocks to Watch
SD Guthrie (SDG)
Q2 net profit up 21.7% YoY to RM505M, supported by stronger CPO and kernel prices.
Revenue grew 4.1% to RM5.17B.
Declared interim dividend of 7.75 sen/share.
Mah Sing Group (MAHSING)
Acquired Corus KLCC Hotel land for RM260M.
Plans to redevelop into premium freehold serviced apartments with a GDV of RM1.28B.
Sentral REIT (SENTRAL)
Q2 net property income down 2.5% YoY to RM36.97M, driven by lower rental from Menara Shell.
Declared interim distribution of 3.16 sen/unit.
ITMAX System (ITMAX)
70%-owned Selmax Sdn Bhd secured smart parking & enforcement contract from Shah Alam City Council.
Revenue-sharing model: 50% of parking-related proceeds to Selmax.
Parkson (PARKSON)
HK-listed unit to terminate lease in Beijing to reduce losses.
RM127.1M in derecognized assets, RMB11.7M penalty involved.
Mayu (MAYU)
Subject of MACC investigation over alleged steel scrap smuggling.
Denies involvement in import/export activities; operations remain domestic.
Ramssol (RAMSSOL)
Abandoned RM25M deal to sell 40% stake in Rider Gate to SAGTEC Global.
Exploring legal action after counterparty failed to obtain board approval.
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