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.
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 US$83.34/oz
The rebound follows sharp declines after President Donald Trump nominated Kevin Warsh to lead the Federal Reserve—a pick seen as favoring a smaller Fed balance sheet, which pressures non-yielding metals.
Key driver: The selloff went beyond fundamentals, as leveraged positions were forcibly unwound across commodities and equities.
Wall Street Steadies
US PMI: Factory activity expanded for the first time in a year
10-year Treasury: ~4.28%, little changed
S&P 500: +0.5% overnight, led by chipmakers and AI stocks
Alphabet: Hit a record high ahead of earnings
Disney: -7.4% on softer international tourism and media earnings
Earnings to watch: Advanced Micro Devices and Super Micro Computer after the close.
FX & Macro Check
Euro: US$1.18, below late-January highs
Yen: 155.54/USD, retracing earlier gains
Australia: Markets eye a 25 bp rate hike at today’s central bank meeting
Japan politics: Polls suggest a strong mandate for PM Sanae Takaichi, raising bond and yen sensitivity to fiscal loosening
Energy & Geopolitics
Brent crude: -6% to US$66.30/bbl on easing US–Iran tensions
A US–India trade deal cutting tariffs in exchange for halting Indian purchases of Russian oil is seen as rupee-positive
Bottom Line
Markets are stabilising after a leverage-driven shakeout.
With metals rebounding, Asian equities rallying, and focus shifting to earnings and policy, volatility may ease—though Fed balance-sheet expectations remain a key risk for gold and bonds.
Quick Takeaways
Asia stocks rebound strongly
Gold and silver recover after forced selling
US data supports risk assets
Central banks and earnings drive the next moves
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