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...
Global markets steadied on Thursday after US President Donald Trump walked back tariff threats and ruled out using force to seize Greenland, easing fears that had rattled risk assets earlier this week.
Equities: Relief Rally Takes Hold
Wall Street jumped after Trump’s comments, sparking a rebound across global equities.
S&P 500: +1.16%, biggest daily gain in two months
European futures: +1.3% in Asian trade
Australia & Japan: benchmarks up ~1%
South Korea: KOSPI crossed 5,000 for the first time
Investors trimmed worst-case geopolitical scenarios, but remained cautious about fully unwinding defensive positions.
Gold & Dollar: Haven Trades Unwind — Partially
As risk appetite improved, traditional safe havens eased.
Gold: slipped about US$100/oz to ~US$4,790, from a record US$4,887
US dollar: strengthened, pushing the euro back below US$1.17
Despite the pullback, traders noted that gold’s longer-term bull case remains intact amid policy and geopolitical uncertainty.
Volatility & Bonds: Tail Risks Fade
Cboe Volatility Index: fell sharply toward baseline levels
US 10Y Treasury yield: eased to ~4.24%, as bonds caught a bid after a heavy selloff earlier in the week
Markets pared hedges against a US–NATO confrontation, though few declared the risk fully resolved.
Asia FX & Rates Watch
Yen: steady near 158.24 per dollar as the Bank of Japan began its policy meeting (rates seen on hold; hawkish tone possible)
Australian dollar: hit 15-month highs after strong jobs data, also reaching an 18-month high versus the yen
What’s Next
US core PCE inflation later today
Earnings: Intel, General Electric, Freeport-McMoRan, Procter & Gamble
Markets still price two US rate cuts this year
Investor Takeaway
Headline risk remains high, but immediate tail risks have eased
Relief rallies are swift, yet conviction is cautious
Gold and volatility hedges are being trimmed, not abandoned
Markets are calmer — for now — but traders remain alert to the next policy pivot.
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