KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
US equity futures climbed as investors shrugged off the federal government shutdown and priced in stronger odds of further Fed rate cuts. Meanwhile, gold surged past the $3,900 mark to a new record high, supported by safe-haven demand and expectations of easing monetary policy.
Market Overview
| Index | Last | Change |
|---|---|---|
| E-mini S&P 500 (Dec) | 6,789.75 | +0.38% |
| Nasdaq 100 Futures (Dec) | – | +0.62% |
| Dow Futures (Dec) | – | +83 pts (+0.18%) |
Both the S&P 500 and Nasdaq have advanced in four of the past five weeks, reflecting investor confidence despite policy uncertainty from Washington.
Key Highlights
AMD Surges on Multi-Billion Dollar OpenAI Partnership
$AMD (AMD.US)$ rallied 35% after OpenAI agreed to deploy up to 6GW of AMD Instinct GPUs, starting 2026.
The partnership includes a warrant for up to 160 million shares, potentially giving OpenAI a 10% stake in AMD.
The deal highlights AMD’s rising competitiveness in the AI infrastructure market, long dominated by $NVIDIA (NVDA.US)$.
Analyst view:
The deal could add significant long-term earnings visibility for AMD, reinforcing its position as a top AI hardware beneficiary.
Gold Rallies to Record on Rate-Cut Bets, Shutdown Risks
Gold futures jumped 1.2% to US$3,958, briefly touching US$3,969, amid strong demand for safe-haven assets.
Fed cut probability: 95.7% (October), 84.1% (December).
YTD performance: +50%, driven by central bank buying and ETF inflows.
Outlook:
Market participants are positioning for a dovish Fed and potential volatility from delayed US data releases during the shutdown.
Nikkei Hits All-Time High as Takaichi Wins LDP Leadership
Japan’s Nikkei 225 gained 4.75% to close at a record 47,944.76, after Sanae Takaichi secured the Liberal Democratic Party leadership.
Gains led by: Yaskawa +20%, Japan Steel Works +14%, Mitsubishi Heavy +13%.
Investors expect continued BOJ accommodation, with a mild rate hike only likely in early 2026.
European Markets Slide on French Political Uncertainty
The CAC 40 fell 2% after Prime Minister Sebastien Lecornu resigned, sparking renewed fears of snap elections in France.
The Stoxx 600 slipped 0.4%, retreating from last week’s record highs.
Turkey Eyes Rare-Earth Partnership with US
Ankara is negotiating with Washington to co-develop rare-earth reserves near Beylikova, following stalled talks with China and Russia.
The move signals a potential strategic shift toward Western alignment in critical minerals supply.
Tesla Teases “10/7” Launch
$TSLA (TSLA.US)$ slipped 1.4%, though a teaser hinting at an Oct 7 announcement stirred speculation of either the next-gen Roadster or a mass-market EV reveal.
TikTok Reinstated in Indonesia
Jakarta reinstated TikTok’s local license after the company met regulatory data disclosure requirements, ending a temporary suspension.
Crypto Watch
| Token | Last | % Chg |
|---|---|---|
| Bitcoin (BTC) | US$124,126 | +0.85% |
| Ethereum (ETH) | US$4,578 | +1.41% |
Bitcoin briefly hit a new record at US$125,264, supported by US$3.25B ETF inflows and risk-off sentiment.
JPMorgan target: US$165K
Citi target: US$133K
Bull case: US$200K
Corporate Watch
Constellation Brands (STZ.US) reports Q2 earnings after market close.
Consensus: EPS US$3.38 (-28% YoY), Revenue US$2.46B (-16% YoY).
Key Economic Events
10:00 AM ET: US CB Employment Trends Index
All week: Government shutdown delays major data including the September jobs report.
Strategy Comment
Markets are entering a policy-driven rally mode, supported by easing expectations and solid risk appetite.
However, investors should monitor potential volatility spikes tied to:
US fiscal impasse
October Fed rate cut outcomes
Earnings revisions from major AI and tech names.
Preferred sectors: AI hardware, semiconductors, precious metals, Japanese equities.
Cautious on: European financials, energy.
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