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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.

Trump Downplays Market Selloff, Confident in U.S. Economic Future

President Donald Trump  has dismissed the recent  market selloff , stating that it’s part of the natural market cycle and that both ups and downs are expected. Despite the downturn, Trump is  optimistic about the U.S. economy , insisting that the country is on the path to  revitalization . Key Points: Market Cycles : Trump acknowledged the market fluctuations but stressed that they are normal, with markets going  up and down . He believes the focus should be on rebuilding the country. Rebuilding U.S. Industry : Trump highlighted the importance of  rebuilding American factories  and  creating jobs , criticizing the state of many old factories and the lack of utilization of existing resources. Economic Policy : Trump emphasized that the key to the country’s economic future lies in  taxing policies  and  incentives . He’s working to bring incentives back to the U.S., encouraging businesses to invest in the country rather than offshore ...

Small-Cap Stocks Struggle as Investor and Executive Sentiment Worsens

Russell 2000 Extends Decline Amid Policy Uncertainty The  Russell 2000 Index, which tracks small-cap stocks, has fallen about 10% from its late-2024 peak , as optimism over  US President Donald Trump’s policies fades . Corporate leaders are also growing increasingly pessimistic, with  Bank of America’s analysis showing the most negative sentiment on small-cap earnings calls since 2004 . Reality Check for Small-Cap Optimism Small-cap stocks initially surged post-election on hopes that  Trump’s pro-business policies and tariffs would boost US-based companies . However, reality has set in, as  higher-for-longer interest rates, economic uncertainty, and potential trade war risks pressure earnings and balance sheets . Sectors vulnerable to  trade tariffs, including autos, capital goods, and transportation, make up 15% of the Russell 2000 , compared to just 9.1% in the  S&P 500 , according to Bloomberg Intelligence. Inflation, Growth, and Interest Rate P...

Recession Fears Rise as US Consumer Confidence Plunges

Sharpest Drop Since 2021 as Economic Pessimism Spreads US consumer confidence  fell 7 points in February to 98.3 , marking the  third consecutive decline  and the largest drop since August 2021. The report, released by  The Conference Board , showed  worsening perceptions of labor conditions, future incomes, and business outlook . Stocks and bond yields  declined following the data , as  recession fears intensified . Consumers Cutting Back on Major Life Plans A  Wells Fargo study found over half of Americans are delaying major financial decisions , citing  economic uncertainty and Trump’s tariff threats . Key postponements include : Home purchases  (one-third of respondents) Education plans  (one in six) Retirement plans  (one in eight) Wall Street Selloff Deepens The  Magnificent 7 stocks tumbled into correction territory , with a  $1.6 trillion market value loss  since December. Tesla led the declines, plunging...

Trump Proposes US$5 Million 'Gold Card' as New Path to U.S. Citizenship

Gold Card to Replace EB-5 Visa Program Trump announced plans to replace the EB-5 investor visa program with a new "Gold Card" priced at US$5 million  as a  route to U.S. citizenship . The  EB-5 program currently grants green cards  to foreign investors who create or preserve U.S. jobs. The  new Gold Card would offer green card privileges  and a direct  path to U.S. citizenship . Trump’s Justification for the Change Trump called the  EB-5 program "full of nonsense, make-believe, and fraud" , arguing it was a  cheap way to obtain U.S. residency . Commerce Secretary Howard Lutnick said the  new plan would ensure only wealthy investors  gain U.S. entry. Potential Eligibility & Controversy When asked if  Russian oligarchs  could qualify, Trump responded,  "Yeah, possibly. I know some Russian oligarchs that are very nice people." Critics may question whether the  policy favors ultra-wealthy elites over job-creating...

Bitcoin Drops Below $87K: Trump’s Policies Shake Crypto Confidence

  Bitcoin’s Rally Stalls Amid Market Uncertainty Bitcoin (BTC/USD) hit an all-time high of $109,225 on Jan. 20  following Trump’s inauguration, fueled by  hopes of deregulation and a U.S. bitcoin reserve . Since then,  BTC has fallen over 20%  to  $87,080 , with a  7.3% drop on Tuesday alone . Support levels now sit at $70,000 - $75,000 , according to market analysts. What’s Driving the Decline? Regulatory Uncertainty: Optimism over a  Trump-led pro-crypto environment  has been priced in, but  no concrete policy changes have materialized . A  crypto working group  has been formed but won’t submit recommendations for  another 180 days . Scandals & Hacks: Argentina’s President Javier Milei  faced backlash after a meme coin he promoted,  Libra , crashed. Bybit, a top crypto exchange, suffered a $1.4 billion hack , raising security concerns. Trump’s Trade Policies & Inflation Fears: New tariff threats —especi...