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Market Daily Report: Bursa Malaysia Ends Higher, Extends Gains On Improving Sentiment After US Tariff Update

KUALA LUMPUR, Feb 23 (Bernama) -- Bursa Malaysia ended the first trading day of the week higher, maintaining its momentum from last week amid improving investor sentiment following the latest United States tariff announcements. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.15 points, or 0.29 per cent, to 1,757.98, compared with Friday’s close of 1,752.83. The benchmark index had opened 4.14 points higher at 1,756.97, and moved between 1,752.48 and 1,760.03 throughout the trading session. The broader market was positive, with gainers outpacing losers 584 to 520, while 537 counters remained unchanged. A total of 1,139 counters remained untraded and 24 were suspended. Turnover widened to 2.47 billion units worth RM2.65 billion compared to 2.03 billion units worth RM2.20 billion last Friday.
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Asian Markets Waver as Tariff Confusion Weighs; Nvidia Set to Test AI Trade

Asian markets opened cautiously on Monday as investors grappled with renewed uncertainty over US tariffs, while all eyes turn to NVIDIA earnings — a key test for the global AI rally.

Tariff Chaos Clouds Outlook

Markets were rattled after the US Supreme Court struck down emergency tariffs imposed by Donald Trump, prompting the White House to announce:

  • A new 10% global tariff

  • Then a surprise increase to 15%

It remains unclear:

  • When tariffs take effect

  • Which countries are excluded

  • Whether all nations face the 15% rate

Key issue: Policy unpredictability is reviving “sell America” sentiment.

Market Snapshot

  • MSCI Asia-Pacific ex-Japan: +0.5% (thin trade)

  • South Korea: +2.0% (after +5.5% last week to record highs)

  • S&P 500 futures: -0.3%

  • Nasdaq futures: -0.4%

Japan markets were closed for a holiday.

Nvidia Earnings: AI Sentiment at Risk

Nvidia, which accounts for ~8% of the S&P 500, is expected to report:

  • EPS forecast: US$7.76 (+71% YoY)

  • Range of estimates: US$6.28–US$9.68

  • Options imply ±6% share move

A miss could shake the entire AI trade. A beat could reignite it.

Dollar & Rates

The dollar slipped amid trade-policy uncertainty:

  • USD/JPY: -0.4% to 154.36

  • EUR/USD: +0.4% to 1.1826

  • USD/CHF: -0.5%

Treasury futures softened after tariff confusion raised questions over potential US$170B revenue repayment, which could widen the fiscal deficit to ~6.6% of GDP.

June Fed rate-cut odds now stand near 52%, down from 60% last week.

Commodities

  • Gold: +0.8% to US$5,143

  • Silver: +2% (after 8% surge Friday)

  • Brent crude: -0.6% to US$71.29

  • WTI crude: -0.8% to US$65.95

Oil traders are watching US-Iran talks in Geneva, amid lingering military-strike risks if negotiations fail.

Bottom Line

Markets are caught between:

  • Tariff policy uncertainty

  • AI earnings risk

  • Mixed US macro signals

  • Geopolitical tensions

This week hinges on Nvidia.
If results disappoint, fragile sentiment could quickly unravel.

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