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KUALA LUMPUR, Feb 4 (Bernama) -- Bursa Malaysia erased early gains to end lower today as profit-taking emerged following recent gains.  At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 5.44 points, or 0.31 per cent, to 1,742.82 from yesterday’s close of 1,748.26.  The market bellwether opened 1.84 points lower at 1,746.42, and subsequently hit an intraday high of 1,751.22 in early trade before slipping to its day’s low of 1,740.49 during the mid-afternoon session. In the broader market, losers outpaced gainers 602 to 462, with 558 counters unchanged, 1,013 counters untraded and six suspended. Turnover declined to 2.59 billion shares valued at RM2.86 billion from yesterday's 3.25 billion shares valued at RM3.34 billion.

Summary UBS expects the  ringgit to strengthen towards 3.80 against the US dollar by December , potentially reaching its strongest level in more than a decade. The outlook is supported by  strong capital inflows, AI-driven investments, a resilient trade surplus, and narrowing US–Malaysia interest rate differentials . Key Points Ringgit target: 3.80 per US dollar by December , last seen in 2015 Best-performing major Asian currency in early 2026 , up over  3% YTD More than 10% gain in 2025 , extending its recovery trend What’s Driving the Ringgit Higher Sustained foreign inflows  from multi-year investments into  data centres and the digital economy Global tech and AI demand  expected to remain strong into 2026, supporting Malaysia’s  trade surplus Narrowing interest rate gap  as the  US is expected to cut rates , while  Bank Negara Malaysia is likely to stay on hold This environment encourages  USD-to-ringgit conversions by corporate...

Asian markets weakened on  Feb 4  after a  tech-led selloff on Wall Street  reignited worries that  AI could squeeze software profitability , prompting a rotation into more cyclical sectors. What Happened Regional equities fell : MSCI’s Asia gauge slid up to  0.6% , with  Japan and Hong Kong  leading declines. Tech pressure spread : Losses followed a sharp drop in US software shares after  AI startup  Anthropic  rolled out a productivity tool for in-house lawyers, raising disruption fears. Guidance disappointment :  Advanced Micro Devices  added to the gloom with a  soft sales outlook . Market Color A  Goldman Sachs basket of US software stocks  sank  6% , the biggest one-day fall since April’s tariff shock. The  Nasdaq 100  dropped  1.6% , though  most S&P 500 stocks actually rose , highlighting rotation beneath the surface. Investors are increasingly betting the AI-led rally gi...

KUALA LUMPUR, Feb 3 (Bernama) -- Bursa Malaysia ended modestly higher today on bargain hunting, extending its recovery from last week’s pullback, although the upside momentum faded after an early peak, said an economist.   At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.38 points, or 0.42 per cent, to 1,748.26 from last Friday’s close of 1,740.88.  The market bellwether opened 15.21 points higher at 1,756.09, and subsequently hit an intraday high of 1,757.51 in early trade before slipping to its day’s low of 1,742.68 during the mid-morning session. In the broader market, losers led gainers 662 to 464, some 556 counters were unchanged, 953 counters were untraded and seven were suspended. Turnover expanded to 3.25 billion shares valued at RM3.34 billion from last Friday's 2.73 billion shares valued at RM3.43 billion. 

Summary PepsiCo  is planning  price cuts of up to 15%  on popular snacks like  Lay’s, Doritos and Flamin’ Hot Cheetos , responding to growing consumer frustration over high food prices. The move signals a broader shift among big food brands as shoppers trade down to cheaper alternatives. What’s Driving the Decision Consumers pushed back hard : PepsiCo received a surge of emails and voicemails complaining snack prices were too high Snack inflation has been steep : Salty snack prices were  ~38% higher in 2024 vs 2020 , according to Jefferies Sales momentum slowed  as shoppers increasingly chose  private-label brands “ Consumers told us they need more value ,” said Rachel Ferdinando, CEO of PepsiCo’s US food business. What Prices May Look Like Lay’s 8oz bag : from  US$4.99 → ~US$4.29 Doritos ~9.25oz bag : price cut by  ~80 cents to US$5.49 Same pack size , but clearly marketed as  lower price (Retailers set final prices, but PepsiCo expects...

Quick Summary US stock futures moved higher while  gold rebounded sharply  after recent losses. A  partial US government shutdown has delayed the  January jobs report , adding uncertainty to near-term data. Meanwhile, a  US–India trade deal ,  major AI investments , and  strong earnings from Palantir  shaped early market sentiment. Key Takeaways January US jobs report delayed  due to partial government shutdown US to cut India tariffs from 25% to 18%  under a  US$500bn+ trade deal Gold rebounds over 5%  after a two-day rout SpaceX acquires xAI , forming a vertically integrated AI ecosystem Big Tech ramps up AI spending ; earnings season remains in focus Markets Before the Bell Nasdaq 100 futures  +0.41% S&P 500 futures  +0.11% Dow futures  -0.11% Gold +5.43% , rebounding strongly Apple  +4.06% , Tesla  -2.00% Macro & Policy US–India trade deal : Tariffs on Indian goods cut to  18% from 25% ...

Summary Hongkong Land has launched its  first private real estate fund , seeded with  US$6.4 billion of prime Singapore commercial assets , marking a key step in its strategy to  recycle capital, expand third-party funds management , and scale towards  US$100 billion in assets under management by 2035 . Key Highlights First private fund launched : Singapore Central Private Real Estate Fund Seeded with S$8.2bn (US$6.4bn)  of Singapore CBD office assets Target size : At least  S$15bn gross asset value within five years Portfolio occupancy :  96% , reflecting  tight CBD office supply What’s Inside the Fund The perpetual, open-end fund holds interests in  office-led Marina Bay assets , including: Asia Square Tower 1 One Raffles Link Marina Bay Financial Centre Towers 1 & 2 Marina Bay Link Mall One Raffles Quay Strong Institutional Backing Hongkong Land remains  majority owner and fund manager Founding investors include: Qatar Investment ...

Summary Software stocks are facing  panic-level selling  as investors fear  AI will erode pricing power, margins and competitive moats . Even industry giants like  Microsoft  are not spared, pushing the sector into its  worst selloff since the 2008 crisis . While valuations now look cheap and technicals signal oversold conditions, investors remain unsure where the bottom is. What’s Driving the Selloff AI disruption fears  are accelerating, with new tools from  Anthropic  and  Alphabet  raising concerns that software products can be  replicated or replaced Traders describe the market as  “get me out” selling , with little regard for valuation The  S&P North American Software Index fell 15% in January , its worst monthly drop since  October 2008 Microsoft’s 10% plunge  last week showed that  even the strongest platforms are vulnerable Earnings Are No Longer Enough Only  71% of software firms beat...

Quick Summary Singapore stocks ended  higher on Tuesday (Feb 3) , supported by gains in  telecoms, property and industrial names .  Singtel  led the market, while  ThaiBev  lagged. Trading activity stayed healthy, with  DBS  topping the turnover chart. Key Highlights Singtel surged 4.74% to S$4.86 , making it the  top STI gainer Hongkong Land (+4.71%)  and  JMH USD (+2.99%)  also posted strong gains ThaiBev fell 1.04% , ending as the  top loser DBS  was the  most actively traded stock , with  S$235.21m turnover In REITs,  Acro HTrust USD rose 4.0% , while  KepPac Oak REIT USD slid 4.17% STI Top Gainers Singtel  +4.74% Hongkong Land USD  +4.71% JMH USD  +2.99% SATS  +2.95% DFI Retail Group USD  +2.91% STI Top Losers ThaiBev  −1.04% Wilmar International  −0.88% Mapletree Logistics Trust  −0.76% Mapletree Industrial Trust  −0.48% REITs Movers Top Gainer: ...

Simple Summary China’s key one-year bank funding rate has fallen to a record low PBOC charged some banks as little as 1.5% on policy loans in January Move lowers borrowing costs without headline rate cuts Signals continued, low-key support for economic growth What Happened China’s central bank, the  People’s Bank of China , allowed the interest rate on its  one-year medium-term lending facility (MLF)  to fall to  as low as 1.5% in January , down from  1.55% in December , according to people familiar with the matter. That compares with an  official MLF rate of 2% a year ago , before the PBOC stopped publishing a single benchmark rate. Why This Matters Lower funding costs for banks , encouraging lending Supports an economy facing  deflationary pressure  and a  prolonged property slump Helps stabilise  bank net interest margins , which have been under strain Key point:  This is another example of Beijing’s  “drip-feed” stimulus ap...

Simple Summary Rupee posts its biggest gain in over three years Indian stocks jump the most since 2021 US slashes tariffs on Indian goods to 18% Deal removes a major overhang on Indian markets What Happened Indian markets roared higher after US President  Donald Trump  announced a sharp  tariff cut on Indian goods to 18% , down from 25%, while also  scrapping an additional 25% levy  tied to India’s purchases of Russian crude. Market Reaction Nifty 50 Index:   +5% intraday  (biggest jump since 2021) Indian rupee:   +1.2% to 90.46/USD , its strongest move in more than three years The deal delivered  much-needed relief  to the rupee, which had been  Asia’s worst-performing currency in January . Why It Matters India sends a  large share of exports to the US Tariffs had weighed on  equities, currency and foreign inflows The agreement  lifts a key source of uncertainty  for investors “The deal finally provides some rel...

Simple Summary China’s grid investment hit a  record high in 2025  and is set to keep rising through 2030, as Beijing moves to  clear power transmission bottlenecks , support  AI-driven electricity demand , and integrate massive renewable capacity. What’s Happening China’s electricity grid spending climbed  5% to 639.5 billion yuan  in 2025, according to the  China Electricity Council . This contrasts with  slower investment in new power generation , where solar development has faced recent constraints. Who’s Driving the Spend China’s two dominant grid operators: State Grid Corp of China China Southern Power Grid Co have steadily lifted capital expenditure, with  combined budgets nearing 1 trillion yuan in 2026  and expected to grow through the end of the decade. Where the Money Is Going Key focus areas include: Ultra-high-voltage (UHV) transmission lines , linking over  420GW of capacity by 2030 Expansion of the  West-to-East ...

Summary Copper rebounded sharply on Tuesday after a two-day slump, as the broader metals selloff eased and  dip-buying emerged from China , the world’s largest copper consumer. While short-term momentum has softened, longer-term supply constraints are expected to keep prices elevated. What Happened Copper rose as much as 2%  to  US$13,148.50 per tonne This followed a  15% plunge from last Thursday’s record high Other industrial and precious metals also  recovered part of recent losses On the  London Metal Exchange , copper was up  0.5% at US$12,951 per tonne , while prices on the  Shanghai Futures Exchange  jumped  3.6% . Why Prices Rebounded The recovery was driven mainly by  renewed buying from China : Investors stepped in after the sharp correction Fabricators and manufacturers  restocked ahead of the Lunar New Year  (starting Feb 16) Physical demand returned after weeks of staying on the sidelines Why the Rally Has Slo...

Simple Summary Chinese tech stocks have fallen 20% from their October high Hang Seng Tech Index dropped as much as 3.4%  in the latest session Tax hike fears and weak sentiment  are weighing on the sector Global AI valuation concerns  added to the selloff What’s Happening A key gauge of Chinese technology shares extended its decline on Tuesday, with the  Hang Seng Tech Index  slipping into  bear-market territory , down about  20% from its October peak . Losses were led by heavyweight names: Kuaishou Technology Tencent Holdings Alibaba Group Holding The index reversed earlier gains as selling accelerated through the session. Why Investors Are Selling Several factors are pressuring sentiment: Policy worries:  Investors fear Beijing may  raise value-added tax (VAT) on internet services firms , after recently targeting telecom companies. Global tech jitters:  Renewed doubts over whether  AI giants can justify heavy spending and high val...

Quick Summary US cuts tariffs on Indian goods to 18% from as high as 50% India agrees to stop buying Russian oil , easing US–India tensions India pledges major US purchases , including energy and technology Markets rally : Indian equities and rupee surge on relief trade What Happened US President  Donald Trump  said he will  lower tariffs on Indian goods to 18%  after a call with Prime Minister  Narendra Modi , linking the move to India’s agreement to  halt purchases of Russian oil . Washington is also  removing an extra 25% duty  imposed earlier over India’s Russian crude imports, according to officials. Why It Matters Overall levies fall from ~50% to 18% , a major relief for Indian exporters Textiles, machinery and labor-intensive goods  benefit the most India sends  nearly 20% of its exports to the US , its largest market The deal eases pressure on  India’s manufacturing ambitions Trump said India would also  reduce tariffs ...

Asian equities and gold  bounced back on Tuesday , as markets steadied after last week’s violent swings triggered by shifts in US monetary expectations and forced unwinding of leveraged trades. Why Markets Are Calmer Asian stocks rallied sharply , led by Japan and South Korea Gold and silver rebounded  after deep, leverage-driven selloffs US factory activity surprised to the upside , supporting risk sentiment Investors are refocusing on  earnings and central bank decisions Asia Market Moves Japan’s Nikkei 225:   +2.5% , recouping prior losses South Korea’s Kospi:   +4.0% Hong Kong futures:  Pointing higher S&P 500 futures:   +0.3% Australian shares rose  1.3% , while the  Australian dollar  held firm near  US$0.6958 , after logging its  biggest monthly gain in three years  in January. Gold and Silver Bounce Gold:   +3%  to  ~US$4,800/oz , nearly  9% off Monday’s lows Silver:   +5%  to...