KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
After a stellar year for U.S. stocks , with the S&P 500 up over 23% in 2024 , investors are cautiously optimistic about the "Santa Claus Rally" —a seasonal boost traditionally seen in the final days of December and early January. However, rising Treasury yields , a hawkish Federal Reserve , and narrowing market breadth suggest Santa might disappoint this year. Key Highlights 1. Historical Context The Santa Claus Rally period, comprising the last five trading days of December and the first two of January, has historically yielded an average 1.3% S&P 500 gain , according to the Stock Trader’s Almanac . Positive performance during this period is often seen as a harbinger of gains for the following year, with a 90% success rate when paired with other January indicators. 2. Market Challenges Biggest Drop Since August : The S&P 500 fell sharply on Wednesday after the Federal Reserve signaled fewer rate c...