KUALA LUMPUR, April 30 (Bernama) -- Last-minute buying lifted Bursa Malaysia’s benchmark index, reversing earlier losses as higher oil prices boosted sentiment for energy- and chemical-related counters. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional markets remained under pressure following negative cues from Wall Street, compounded by surging oil prices, mixed earnings, and a cautious US Federal Reserve stance. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 1.60 points, or 0.09 per cent, to 1,722.02 from Wednesday’s close of 1,720.42. The benchmark index opened marginally lower at 1,720.23 and moved between a low of 1,712.14 and a high of 1,722.03 throughout the day. Market breadth, however, was negative, with losers trouncing gainers 816 to 360. A total of 546 counters were unchanged, 950 were untraded, and 77 were suspended. Turnover declined to 2.91 billion un...
Quick Summary
Wall Street slid on AI recession fears and fresh Trump tariffs
Bursa Malaysia climbed, extending its post-CNY rebound
Ringgit surged to strongest level in 8 years vs USD
Government says stronger currency won’t derail exports
Wall Street Recap: AI & Tariff Shock
US markets fell sharply as investors reacted to:
A Citrini Research warning that AI could push US unemployment to 10% by 2028
President Donald Trump raising global tariffs from 10% to 15%
Growing geopolitical tension with Iran
Index Performance:
Nasdaq: -1.13%
S&P 500: -1.04%
Dow Jones: -1.66%
Major decliners included:
IBM (-13.1%)
American Express (-7.2%)
Visa (-4.5%)
JPMorgan Chase (-4.2%)
Salesforce (-3.8%)
Meanwhile, safe-haven metals surged:
Silver futures: +7.6%
Gold futures: +3.4%
Bursa Malaysia: Ringgit Steals the Show
The FTSE Bursa Malaysia KLCI rose 0.29% to 1,757.98, extending gains after the Chinese New Year rally.
Market Movers:
Top Gainer: PPB +2.76%
Top Loser: PCHEM -4.64%
Ringgit Strength:
USD/MYR: RM3.891 (-0.31%)
Strongest level in 8 years
Deputy Economy Minister Datuk Mohd Shahar Abdullah said the appreciation reflects:
Solid economic fundamentals
28 consecutive years of trade surplus
9.2% rise in trade balance to RM151.8 billion (2025)
Key message: Stronger ringgit is unlikely to significantly hurt exports.
Stocks to Watch
United Plantations (UTDPLT)
FY2025 net profit: RM830m (+15%)
Revenue: RM2.51b (+14%)
Boosted by record crude palm oil yields
Sunway Construction (SUNCON)
FY2025 net profit: +93.6% to RM361.8m
Revenue exceeded RM5b for the first time
Declared record 50.5 sen dividend
Petronas Chemicals (PCHEM)
Posted fourth straight quarterly loss
4QFY2025 net loss: RM754m
Expects challenging 2026 conditions
TSR Capital (TSRCAP)
Secured RM99m KL-Karak Highway widening contract
Gadang Holdings (GADANG)
Won second highway widening contract worth RM95.14m
Market Takeaway
Malaysia is diverging from Wall Street’s volatility.
While US markets wrestle with AI disruption fears and tariff uncertainty, Malaysia benefits from:
Currency strength
Resilient trade surplus
Commodity and construction momentum
The stronger ringgit signals confidence in Malaysia’s fundamentals — but export competitiveness remains a key variable to monitor.
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