KUALA LUMPUR, June 18 (Bernama) -- Bursa Malaysia’s key index finished marginally higher, supported by strong buying interest in consumer-related counters, amid mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 1.40 points, or 0.08 per cent, to 1,711.39 from Tuesday's close of 1,709.99. The key index opened 12.36 points firmer at 1,722.35 and moved between 1,711.31 and 1,722.63 throughout the session. Market breadth was negative, with losers leading gainers 678 to 493, while 549 counters were unchanged, 1,016 untraded and 34 suspended. Turnover increased to 4.50 billion units worth RM3.45 billion from 3.93 billion units worth RM3.45 billion on Tuesday.
European markets opened lower Thursday as investors locked in profits from recent record highs and weighed growing geopolitical risks, while gold prices held steady above US$4,000 amid continued safe-haven demand.
Market Overview
STOXX 600: -0.3% at 0903 GMT
FTSE 100: -0.3%, dragged by HSBC and Lloyds, offset by mining and tech gains
MSCI World Index: Flat
Investor sentiment turned cautious after Wall Street and Asian markets hit record highs on AI optimism. The ongoing U.S. government shutdown, political uncertainty in France and Japan, and warnings from global bankers added to the risk-off tone.
“The mood is fragile — we’re not getting much substance to market moves because U.S. data is missing,” said Fiona Cincotta, senior analyst at City Index.
Gold and Currencies
Gold: Steady at US$4,041.29/oz, supported by safe-haven flows and a weaker dollar.
Dollar Index: +0.1% at 99.97, still down nearly 9% YTD.
Euro: -0.1% at US$1.1615, extending a four-day decline.
Yen: Briefly hit an 8-month low of ¥153/USD, later firmed to ¥152.76.
A Japanese economic adviser told Reuters that yen weakness supports growth and could be offset by aggressive fiscal spending under incoming PM Sanae Takaichi.
Bonds and Commodities
French 10-year yield: 3.51%
German Bund yield: 2.69%
Oil: Steady as traders monitor the Israel–Hamas ceasefire announced by President Trump.
Global Macro
JPMorgan CEO Jamie Dimon warned of a potential “significant correction” in U.S. markets within six months to two years, citing geopolitical risks, high government spending, and global remilitarisation.
In France, optimism grew after President Emmanuel Macron pledged to appoint a new prime minister by Friday to stabilize the government and avoid snap elections.
The IMF projected a mild slowdown in global growth for 2025–26 but said the world economy remains “more resilient than expected.” Meanwhile, China tightened export controls on rare earth technology, expanding its April restrictions.
Key Takeaway
Global markets are showing signs of profit-taking and caution following an extended AI-driven rally. With political risks rising in Japan, France, and the Middle East — and limited U.S. data due to the government shutdown — traders are rotating toward safe-haven assets like gold and sovereign bonds.
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