KUALA LUMPUR, Jan 23 (Bernama) -- Bursa Malaysia’s benchmark index recouped earlier losses to settle higher, maintaining a more than six-year high, buoyed by continued buying interest in technology stocks, while the strengthening of the ringgit against the US dollar further lifted investor sentiment. At 2.27 pm today, the local currency strengthened to 3.9992 versus the greenback, its strongest level in more than seven years. It was last seen at this level on June 18, 2018, at 3.9960/9990. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.85 points or 0.17 per cent to 1,719.99 from yesterday’s close of 1,717.14. The index surpassed its previous peak of 1,719.00 recorded on Feb 26, 2019. The barometer index opened 1.30 points lower at 1,715.84 and moved between an intraday low of 1,711.89 in early trade and a high of 1,723.41 in late afternoon before slipping slightly toward the close. However, market breadth was negative with decl...
Asian equities fell for a third straight session as escalating geopolitical tensions tied to Greenland reignited fears of offshore selling of US assets, while volatility in global bond markets kept risk appetite fragile.
The renewed anxiety follows President Donald Trump’s repeated threats to acquire Greenland — including tariff warnings against Europe — ahead of his speech at the World Economic Forum in Davos.
Asia & Global Equity Snapshot
Risk sentiment remained weak across regions:
MSCI Asia-Pacific ex-Japan: -0.3%
Nikkei 225: -1.2%, fifth straight daily decline
EURO STOXX 50 futures: -0.4%
DAX futures: -0.4%
US equity futures stabilised modestly after Wall Street’s sharp selloff:
S&P 500 futures: +0.2%
Nasdaq futures: +0.2%
Overnight, the S&P 500 fell 2.06% and the Nasdaq Composite slid 2.4%, the steepest one-day drop in three months.
‘Sell America’ Trade Back in Focus
Investors revived the so-called “Sell America” trade, cutting exposure to US equities, the dollar and Treasuries — a theme last seen after Trump’s “Liberation Day” tariffs in April.
The US dollar suffered its biggest daily fall in over a month, while safe-haven demand pushed gold and silver to record highs.
Bonds: Rout Pauses, But Nerves Remain
The global bond selloff showed tentative signs of stabilisation:
US 10Y Treasury yield: 4.285%, down 1 bp after hitting a five-month high
Japan 40Y JGB yield: 4.145%, retreating 6 bps after a record spike
Japanese bond yields have surged on concerns that increased spending under Prime Minister Sanae Takaichi could further strain public finances. Liquidity remains thin across longer maturities.
A fresh warning sign emerged after Danish pension fund AkademikerPension said it would sell around US$100m of US Treasuries by month-end, citing concerns over US fiscal health.
FX & Commodities
US Dollar Index: steady at 98.56, after a 0.5% overnight drop
Yen: ~158.19 per dollar
Swiss franc: hit a record ¥200.19
Gold: US$4,806/oz, new all-time high
Silver: US$95.01/oz, near record
WTI crude: -1.31% to US$59.57/bbl
Oil prices eased as expectations of rising US inventories outweighed supply disruptions in Kazakhstan.
What Markets Are Watching
Trump’s Davos speech for any signal of escalation or de-escalation
The EU emergency summit in Brussels on Greenland
Bank of Japan policy meeting on Friday, where guidance could hint at tightening as early as April
Investor Takeaway
Risk sentiment remains fragile as geopolitics drive cross-asset volatility
Bonds and equities selling together signals systemic stress, not stock-specific issues
Safe havens continue to outperform, while liquidity is thinning in rates markets
Markets remain defensive, with investors reluctant to rebuild risk positions until clearer signals emerge from global policymakers.
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