KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
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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