KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
Market Snapshot
US equity futures moved lower Thursday morning as rising oil prices and renewed trade tensions weighed on investor sentiment.
Futures indicated a cautious start to the session:
Nasdaq 100 futures: -0.45%
S&P 500 futures: -0.49%
Dow futures: -0.61%
The decline comes as Brent crude prices surged, reflecting ongoing concerns about supply disruptions linked to the Iran conflict and tensions in the Strait of Hormuz.
Investors are also digesting new trade investigations launched by Washington, which could lead to the reinstatement of tariffs on several major economies.
US Targets 16 Economies in New Trade Probe
The Trump administration has launched Section 301 investigations into 16 major trading partners, citing alleged unfair trade practices that disadvantage US manufacturers.
The countries and regions under investigation include:
China
European Union
Japan
India
Singapore
Malaysia
Indonesia
Thailand
Vietnam
South Korea
Taiwan
Mexico
Switzerland
Norway
Cambodia
Bangladesh
Section 301 investigations allow the US government to impose retaliatory tariffs or trade restrictions if unfair practices are identified.
The move follows a Supreme Court decision striking down earlier reciprocal tariffs, prompting the administration to pursue alternative legal pathways to reinstate trade measures.
For global markets, the development raises concerns about renewed trade friction and supply chain disruptions, particularly in Asia.
Strategic Petroleum Reserve Release to Calm Oil Markets
In response to rising oil prices, the US Energy Department announced plans to release 172 million barrels of crude oil from the Strategic Petroleum Reserve (SPR).
The release will occur over roughly 120 days and forms part of a broader International Energy Agency initiative to inject 400 million barrels of oil and refined products into global markets.
The government also intends to replenish approximately 200 million barrels of the reserve within the next year.
The coordinated release aims to ease supply concerns and stabilise energy markets, which have been volatile following geopolitical tensions in the Middle East.
Tesla Expands Autonomous Vehicle Strategy
Tesla is accelerating production preparations for its Cybercab, an autonomous vehicle designed for its future ride-hailing network.
The company has begun early-stage production at its Austin facility, with plans to scale output to hundreds of units per week as manufacturing capacity expands.
The vehicle, which features no steering wheel or pedals, is expected to play a key role in Tesla’s long-term strategy to build a fully autonomous transportation ecosystem.
Tesla shares gained momentum in recent trading amid optimism around its robotaxi and autonomous mobility initiatives.
Apple Advances Foldable iPhone Plans
Apple is reportedly moving forward with its first foldable iPhone, adopting a book-style folding design.
Key features expected include:
An inner display similar in size to the iPad mini
A smaller external screen for quick interactions
Enhanced multitasking features in iOS
The device is currently targeted for a fall 2026 launch, signalling Apple’s entry into the foldable smartphone market, which is currently dominated by Samsung and other Android manufacturers.
Crypto Market Update
Cryptocurrencies edged lower ahead of the US market open.
Bitcoin: US$69,991 (-0.55%)
Ethereum: US$2,056 (-0.28%)
Meanwhile, investment firm Strive increased its exposure to digital assets, adding 179 Bitcoin to its holdings, bringing total reserves to 13,311 BTC.
The company also invested US$50 million in preferred stock issued by Strategy, reflecting continued institutional interest in crypto-linked assets.
Key Earnings to Watch
Markets will also focus on corporate earnings announcements.
Before Market Open
Dollar General
Expected revenue: US$10.82 billion (+5.05% YoY)
Expected net income: US$362 million (+89.5% YoY)
After Market Close
Adobe
Expected revenue: US$6.28 billion (+9.85% YoY)
Expected net income: US$1.88 billion (+4.03% YoY)
Results from these companies could provide insights into consumer spending trends and enterprise software demand.
Investor Takeaways
US stock futures declined as rising oil prices and trade tensions weighed on sentiment.
Washington launched Section 301 investigations into 16 economies, raising risks of new tariffs.
The US plans to release 172 million barrels of oil from the SPR to stabilise energy markets.
Tesla is ramping production of its autonomous Cybercab, reinforcing its robotaxi ambitions.
Investors will closely watch Dollar General and Adobe earnings for signals on consumer demand and tech spending.
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