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...
Key Market Highlights
- Wall Street: S&P 500 +0.23%, Nasdaq +0.80%, Dow +0.34%U.S. equities extended gains for a third straight session, supported by renewed U.S.–China trade optimism and expectations of a Fed rate cut.
Nvidia (NVDA.US): +4.96% → US$201.03 (record high) after CEO Jensen Huang unveiled new AI partnerships and guided for US$500 billion cumulative chip revenue by 2026. Stock rose further +1.7% after hours.
Apple, Microsoft, Alphabet: Tech rally broadened; $MSFT$ climbed on OpenAI stake expansion, $AAPL$ touched new highs on iPhone 17 demand.
Fed Watch: Market expects a 25 bps rate cut (to 3.75–4.00%) at Wednesday’s FOMC.
Bursa Malaysia Overview
- FBM KLCI: 1,613.56 (−0.30%)Market tracked regional weakness on profit-taking ahead of the Fed decision.Breadth: 751 losers vs 331 gainers; Volume: 3.86 bn shares worth RM 3.03 bn.
| Indicator | Movement |
|---|---|
| USD/MYR | +0.06% to 4.2006 |
| Top Gainer | YTLPOWR +1.56% RM 3.90 |
| Top Loser | QL −2.10% RM 4.20 |
Corporate Highlights
Nestlé (M) Bhd (4707.MY)
Net profit: +34% YoY → RM 114.0 m (Q3 FY25)
Revenue: +22% → RM 1.76 b, driven by strong domestic & export sales
Dividend: 60 sen interim, payable 10 Dec 2025
Takeaway: Solid consumer spending and cost efficiency underpin continued earnings resilience.
Sunway REIT (5176.MY)
To divest Sunway Hotel Seberang Jaya (RM 60 m) to parent $SUNWAY$, proceeds reinvested in new hotel atop Sunway Carnival Mall.
Move signals asset recycling toward higher-yield tourism assets.
Bursa Malaysia Bhd (1818.MY)
Adopting new regulatory fee structure from FY26; annual RM 28 m fixed + 37.5% derivative levy (capped RM 35 m → RM 45 m by 2028).
CGS International: ‘Add’ rating; TP RM 9.39, citing earnings uplift from fee revision & trading volume growth.
EPF Update:
RM 14.13 b voluntary top-ups (Jan–Aug 2025) from 1.12 m members; i-Saraan contributions +74% YoY to RM 2.8 b, reflecting rising retirement-savings awareness.
Other Notable Movers
Yinson (7293.MY): Secured New Zealand investment approval for renewables.
Mah Sing (8583.MY): Seeking new data-centre partners after Bridge DC talks lapsed.
Dufu Tech (7233.MY): Returned to profit (RM 10.5 m vs loss RM 3.2 m YoY).
LPI (8621.MY): Net profit −7.4% YoY → RM 114.8 m amid higher costs.
Kitacon (5310.MY): Won RM 86.6 m contract for The Mines Resort City project.
Investor Outlook
Global: AI optimism and potential Fed cut keep risk sentiment constructive.
Local: Short-term consolidation likely ahead of Fed decision; mid-term bias remains positive given strong earnings momentum (Nestlé, YTL Group).
Stocks to Watch: NESTLE, SUNREIT, YTLPOWR, BURSA, DUFU.
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