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Market Daily Report: Bursa Malaysia's Key Index Ends At Intraday High

KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
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Gold Edges Higher on Fed Cut and Bargain Buying, Set for Third Monthly Gain

Gold prices rose on Friday, extending their monthly winning streak as  bargain hunters  stepped in and the  US Federal Reserve’s rate cut  boosted demand for non-yielding assets, even as a stronger dollar capped gains. Market Snapshot Spot gold:  US$4,034/oz (+0.3%) US gold futures (Dec):  US$3,955/oz (–1.1%) Monthly gain:  +4.5% (third straight) The rally puts gold on track for its  best three-month stretch this year , supported by lower yields and sustained safe-haven demand amid geopolitical and trade uncertainties. Fed Policy and Rate Outlook The Fed cut its  benchmark rate by 25 basis points  this week to a range of  3.75%–4.00% , marking its  second cut of 2025 . While the move supported bullion,  Fed Chair Jerome Powell’s cautious remarks  tempered expectations of another reduction in December. According to the  CME FedWatch Tool , traders now see a  74.8% chance  of a further 25 bps cut in Decem...
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Dollar Pauses Rally Ahead of Fed Decision; Euro Eyes First Monthly Drop in 2025

The  US dollar index  slipped  0.13% to 98.77  on Wednesday, ending a four-day winning streak as traders turned cautious before the  Federal Reserve’s policy meeting . The pullback comes after a sharp rally driven by the US-EU trade deal earlier this week. Markets Await Powell and Jobs Data Investors are focused on  Fed Chair Jerome Powell’s remarks  amid ongoing tensions with the White House. A  September rate cut remains the base case , but upcoming economic data, including Friday’s US jobs report, will be critical in shaping expectations. The Fed is widely expected to keep rates unchanged at this meeting. “Markets will be paying attention to Powell’s tone and any signs of internal dissent within the committee,” said Julien Lafargue of Barclays Private Bank. Euro and Yen Move The  euro rose 0.15% to US$1.1562 , bouncing from a one-month low. Despite gaining  11.9% year-to-date , it is on track for its  first monthly decline since ...
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