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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
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Robinhood Rockets 15% as S&P 500 Inclusion Sparks Record Highs; Options Activity Heats Up

Key Takeaway:  Robinhood shares soared over 15% to a record high after news broke that the trading app will join the S&P 500, fueling a surge in options activity and broader market momentum. The Nasdaq extended its rally, climbing 0.45% to close at 21,798.70 — a fresh record after hitting a new intraday high. Gains were led by chipmakers, with  Broadcom (AVGO)  up 3% and  NVIDIA (NVDA)  rebounding nearly 1% from recent steep losses. Tech giants  Amazon (AMZN)  and  Microsoft (MSFT)  also ended higher. The spotlight, however, was on  Robinhood (HOOD) , which spiked more than 15% on Monday after S&P Dow Jones Indices announced the stock would be added to the  S&P 500  in the next rebalancing on September 22.  AppLovin (APP) and  EMCOR Group (EME)  will also join the benchmark, replacing  MarketAxess (MKTX) ,  Caesars Entertainment (CZR) , and  Enphase Energy (ENPH) . Meanwhile, unusual op...
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AppLovin, Robinhood, and Emcor Enter the S&P 500: Who’s In, Who’s Out

 Key Takeaway AppLovin (APP), Robinhood (HOOD), and Emcor (EME) will join the S&P 500 on Sept. 22 , replacing MarketAxess, Caesars Entertainment, and Enphase Energy. Their inclusion underscores shifting sector weightings and signals strong investor momentum, especially for fintech and tech platforms. The New Entrants AppLovin (APP) Market Cap:  $169B  (largest U.S. company not already in the S&P 500) Focus: Mobile marketing & app monetization Stock Reaction:  +6.3% after-hours to $521.01 Robinhood (HOOD) Market Cap:  $91B Focus: Zero-commission retail trading, democratizing finance Stock Reaction:  +6.4% after-hours to $107.75 CFO Jason Warnick: “We remain focused on our mission to democratize finance for all.” Emcor (EME) Market Cap:  $28B Focus: Mechanical & electrical construction services Stock Reaction:  +2.2% after-hours to $639 Moving up from the S&P MidCap 400 Who’s Out MarketAxess (MKTX) ,  Caesars Entertainment (...
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Robinhood Joins S&P 500: A Big Win for US Fintech

Key Takeaway Robinhood Markets (HOOD.US) is set to replace Caesars Entertainment in the  S&P 500  on Sept 22. The move marks a  watershed moment for fintech , cementing Robinhood’s transformation from a pandemic-era trading disruptor into one of the most influential players in U.S. financial markets. What Happened S&P Dow Jones Indices  announced that Robinhood will officially join the benchmark before market open on Sept 22. Other additions include  AppLovin (APP.US)  and  Emcor (EME.US) , replacing MarketAxess (MKTX.US) and Enphase Energy (ENPH.US). Shares of Robinhood surged  7.3% in after-hours trading  on the news. Why It Matters Index Funds Boost:  Inclusion forces passive funds and ETFs tracking the S&P 500 to buy Robinhood shares, creating immediate demand. Credibility Upgrade:  Joining the S&P 500 signals financial stability and could draw more  institutional investor interest . Fintech Validation: ...
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Bitcoin Selloff Presents Buying Opportunity for Coinbase and Crypto Stocks

  Bitcoin’s Drop & Market Impact Bitcoin has plunged over 20%  since Inauguration Day, from nearly  $110,000 to around $87,000 . Coinbase (COIN) tumbled more than 20%  over the past five days, while  Robinhood (HOOD) dropped 24% . Crypto miners like Riot Platforms (MARA), Core Scientific (CORZ), and CleanSpark (CLSK) also saw sharp declines. Why This Could Be a Buying Opportunity SEC dropped investigations  into Coinbase & Robinhood, easing regulatory concerns. Trump’s SEC nominee, Paul Atkins, is seen as a pro-crypto advocate , signaling an end to "regulation by enforcement." Analysts see strong upside potential: Oppenheimer's Owen Lau: Coinbase price target at $388 (85% upside). Daiwa’s Steven Nie: Coinbase target at $400 , citing  resilient trading volumes despite Bitcoin’s correction. Crypto Miners May Rebound Cantor Fitzgerald analyst Brett Knoblauch believes the crypto bull market could last another 12-16 months , supporting Bitcoin minin...
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Bitcoin Hits Three-Month Low, Dragging Crypto Stocks Down

  Bitcoin Drops Below $90K, Crypto Stocks Follow Bitcoin fell 3.9% to $87,903 on Tuesday , touching a  three-month low of $86,050.99 . MicroStrategy (MSTR) dropped 11%, Coinbase (COIN) fell 6.4%, and Robinhood (HOOD) declined 8% , reflecting the crypto market downturn. MicroStrategy's Latest Bitcoin Purchase Loses Value MicroStrategy bought 20,356 BTC for $1.99 billion last week at an average price of $97,514 per Bitcoin. With BTC now below $88K,  this investment has already lost around $200 million in value. Despite this short-term drop,  MicroStrategy's overall Bitcoin holdings (499,096 BTC) were acquired at an average of $66,357 per coin , still  well below the current price . Company’s Bitcoin holdings were worth $50 billion last Friday, now down to $44 billion. Market Volatility & Investor Impact The crypto selloff highlights Bitcoin’s volatility and its impact on crypto-related stocks. Crypto stocks like MicroStrategy, Coinbase, and Robinhood remain hi...
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Robinhood, Kraken, and Others Launch Global Stablecoin Network

A group of fintech and cryptocurrency companies, including Robinhood, Kraken, and Galaxy Digital, has launched the Global Dollar Network , introducing a new US dollar-pegged stablecoin named USDG. Issued by Paxos from Singapore, USDG aims to broaden stablecoin usage worldwide and offer economic benefits to its partners. Key Points: Global Dollar Network : Formed to promote stablecoin adoption, this network’s goal is to make stablecoins widely accessible and beneficial. Participants, including Anchorage Digital, Bullish, and Nuvei, will help govern USDG through a committee structure. Competitive Market : USDG enters a market dominated by Tether and USD Coin, which together hold nearly 90% of the stablecoin market cap. Its backers hope to boost USDG by incentivizing global stablecoin use. Stablecoin Benefits : Stablecoins like USDG provide a steady value, typically backed by traditional currencies such as the USD or euro, making them a reliable bridge between crypto and fiat currencies. ...
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