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Market Daily Report: Bursa Malaysia Closes Higher On Strong Buying Of Blue Chips

KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage.   At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session.  Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
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US Morning Call: Trump Names Kevin Warsh as Fed Chair, Markets Jolt, Gold Crashes


Quick Summary

  • Trump officially picked Kevin Warsh to replace Jerome Powell as Fed chair

  • US stock futures fell, while gold and silver plunged sharply

  • Crypto markets saw US$1.7B liquidations amid policy shock

  • Apple and SanDisk delivered strong earnings, led by China recovery and pricing power

Key Market Developments

Trump Picks Kevin Warsh as Fed Chair

President Donald Trump confirmed he will nominate Kevin Warsh to succeed Jerome Powell when Powell’s term ends in May.

Market interpretation:

  • Warsh is supportive of lower rates, but

  • Cautious on heavy stimulus and Fed balance-sheet expansion

This reinforced expectations of tighter liquidity, even if rate cuts resume later in the year.

Before the Bell: Market Reaction

  • Nasdaq 100 futures: -0.39%

  • S&P 500 futures: -0.27%

  • Dow futures: -0.22%

  • US dollar: +0.21%

Precious metals were hit hard:

  • Gold: -4.62%, briefly below US$5,000

  • Silver: -10.17%, briefly below US$100

Crypto Shock: US$1.7B Liquidations

Trump’s Fed pick triggered a sharp risk unwind:

  • US$1.7 billion in crypto liquidations

  • 270,000 traders affected

  • Leveraged bulls lost ~US$1.6 billion

  • Bitcoin: -2.12% to US$82,853

  • Ethereum: -3.04% to US$2,737

Key point: Liquidity expectations, not fundamentals, drove the selloff.

Politics: Shutdown Averted

Trump and Senate Democrat Chuck Schumer struck a bipartisan deal to:

  • Fund most of the government through September

  • Replace a controversial DHS bill with a two-week stopgap

  • Avoid a broader government shutdown

Corporate Highlights

Apple Earnings Impress

Apple posted a strong quarter:

  • China revenue beat expectations for the first time in nine quarters

  • Gross margin hit a record high

  • Net profit exceeded US$40B for the first time

SanDisk Smashes Estimates

SanDisk:

  • Revenue: US$3.03B, +61% YoY

  • Gross margin: 51.1%, far above guidance

  • Driven by higher pricing and datacentre demand

OpenAI Prepares for IPO

OpenAI is planning a Q4 2025 IPO, holding informal talks with Wall Street banks and strengthening its finance team ahead of a potential listing.

What to Watch Today

Data

  • US PPI (Dec) at 8:30am ET

Earnings (Before Market)

  • Exxon Mobil

  • Verizon

Bottom Line

Trump’s choice of Kevin Warsh has reset market expectations.
The focus has shifted from how fast rates will fall to how tight liquidity may become, triggering sharp moves across equities, metals, and crypto.

Volatility is likely to stay elevated as markets recalibrate to a more disciplined Fed regime.

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