Bursa Malaysia Rises Amid Foreign Outflows as U.S. Stocks Slip
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The U.S. stock market closed lower as $Dow Jones Industrial Average (.DJI.US)$ fell by 0.41% and $S&P 500 Index (.SPX.US)$ dropped 0.93%, weighed down by declines in technology and semiconductor stocks. $Intel (INTC.US)$, $Apple (AAPL.US)$, and $Microsoft (MSFT.US)$ were among the biggest losers, with $Intel (INTC.US)$ falling by 3.28%, $Apple (AAPL.US)$ by 2.91%, and $Microsoft (MSFT.US)$ by 2.23%. However, energy stocks like $Chevron (CVX.US)$ and $ConocoPhillips (COP.US)$ managed to gain 1.65% and 3.88% respectively, benefiting from the rebound in crude oil prices. $Crude Oil Futures(JAN5) (CLmain.US)$ delivery rose 3.67%, helping oil-related stocks outperform the broader market.
Meanwhile, futures trading was marginally lower as investors focused on economic data, including JOLTS (Job Openings and Labor Turnover Survey) and the ISM manufacturing data, which are expected to offer insights into the U.S. labor market and manufacturing sector trends. The market remains cautious ahead of key speeches from Federal Reserve Chairman Jerome Powell, who is expected to provide more clarity on the Fed’s interest rate trajectory.
Meanwhile, futures trading was marginally lower as investors focused on economic data, including JOLTS (Job Openings and Labor Turnover Survey) and the ISM manufacturing data, which are expected to offer insights into the U.S. labor market and manufacturing sector trends. The market remains cautious ahead of key speeches from Federal Reserve Chairman Jerome Powell, who is expected to provide more clarity on the Fed’s interest rate trajectory.
Bursa Malaysia Sees Gains Despite Foreign Fund Outflows
In Malaysia, $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ ended 7.48 points higher at 1,656.39, supported by buying in key index-linked counters such as $PCHEM (5183.MY)$, $PBBANK (1295.MY)$, and $MAYBANK (1155.MY)$. Despite the gains, trading volume was mixed with a total of 2.55 billion shares valued at RM2.4 billion, and foreign funds were net sellers at RM251 million, while local institutions and retail investors stepped in as net buyers.
Top gainers included $MPI (3867.MY)$, which rose 60 sen to RM27.20, $NESTLE (4707.MY)$ adding 60 sen to RM104.60, and $KLK (2445.MY)$, which gained 46 sen to RM21. Meanwhile, $HLBANK (5819.MY)$ and $KLCC (5235SS.MY)$ were among the top losers, falling by 18 sen and 17 sen, respectively.
Despite the overall positive market sentiment, the ringgit depreciated by 1.18% against the U.S. dollar, slipping to 4.1720 $USD/MYR (USDMYR.FX)$, after reaching a three-and-a-half-year high earlier this week. The local currency also weakened against other major currencies, declining by 0.66% against the pound sterling $GBP/MYR (GBPMYR.FX)$ and 0.65% against the Singapore dollar $SGD/MYR (SGDMYR.FX)$.
In Malaysia, $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ ended 7.48 points higher at 1,656.39, supported by buying in key index-linked counters such as $PCHEM (5183.MY)$, $PBBANK (1295.MY)$, and $MAYBANK (1155.MY)$. Despite the gains, trading volume was mixed with a total of 2.55 billion shares valued at RM2.4 billion, and foreign funds were net sellers at RM251 million, while local institutions and retail investors stepped in as net buyers.
Top gainers included $MPI (3867.MY)$, which rose 60 sen to RM27.20, $NESTLE (4707.MY)$ adding 60 sen to RM104.60, and $KLK (2445.MY)$, which gained 46 sen to RM21. Meanwhile, $HLBANK (5819.MY)$ and $KLCC (5235SS.MY)$ were among the top losers, falling by 18 sen and 17 sen, respectively.
Despite the overall positive market sentiment, the ringgit depreciated by 1.18% against the U.S. dollar, slipping to 4.1720 $USD/MYR (USDMYR.FX)$, after reaching a three-and-a-half-year high earlier this week. The local currency also weakened against other major currencies, declining by 0.66% against the pound sterling $GBP/MYR (GBPMYR.FX)$ and 0.65% against the Singapore dollar $SGD/MYR (SGDMYR.FX)$.
Sectoral Performances and Global Influence
In the Malaysian market, $Bursa Energy (0061I.MY)$, $Bursa Technology (0005I.MY)$, and $Bursa Plantation (0025I.MY)$ sectors were mixed as investors weighed global commodity prices and external economic factors. $Bursa Energy (0061I.MY)$ sector saw some resilience, as oil prices rebounded with Brent crude oil futures climbing 3.65% to USD 74.32 per barrel. $Bursa Technology (0005I.MY)$ stocks in the U.S. faced heavy selling pressure, with companies such as $Super Micro Computer (SMCI.US)$ losing over 90% after reporting weaker-than-expected earnings.
Regionally, markets in China, Hong Kong, and South Korea were closed due to public holidays, leaving the $Nikkei 225 (.N225.JP)$ in Japan to lead regional gains with a 1.93% increase to 38,651.97. Taiwan’s Taiex Index also saw a 0.75% rise, buoyed by strength in tech stocks.
Outlook for U.S. and Malaysian Markets
Looking ahead, U.S. stock markets are expected to remain volatile as investors digest economic data and anticipate further developments in the Federal Reserve’s monetary policy. The upcoming U.S. non-farm payroll report and Powell’s speech will be critical in guiding market expectations around future rate cuts.
In the Malaysian market, $Bursa Energy (0061I.MY)$, $Bursa Technology (0005I.MY)$, and $Bursa Plantation (0025I.MY)$ sectors were mixed as investors weighed global commodity prices and external economic factors. $Bursa Energy (0061I.MY)$ sector saw some resilience, as oil prices rebounded with Brent crude oil futures climbing 3.65% to USD 74.32 per barrel. $Bursa Technology (0005I.MY)$ stocks in the U.S. faced heavy selling pressure, with companies such as $Super Micro Computer (SMCI.US)$ losing over 90% after reporting weaker-than-expected earnings.
Regionally, markets in China, Hong Kong, and South Korea were closed due to public holidays, leaving the $Nikkei 225 (.N225.JP)$ in Japan to lead regional gains with a 1.93% increase to 38,651.97. Taiwan’s Taiex Index also saw a 0.75% rise, buoyed by strength in tech stocks.
Outlook for U.S. and Malaysian Markets
Looking ahead, U.S. stock markets are expected to remain volatile as investors digest economic data and anticipate further developments in the Federal Reserve’s monetary policy. The upcoming U.S. non-farm payroll report and Powell’s speech will be critical in guiding market expectations around future rate cuts.
For Bursa Malaysia, local institutions and retail investors are expected to continue providing support as foreign funds remain cautious. However, the weakening ringgit could add pressure to sectors dependent on imports, while export-oriented sectors might see gains. Key sectors to watch include $Bursa Energy (0061I.MY)$, $Bursa Plantation (0025I.MY)$, and $Bursa Technology (0005I.MY)$, as these are likely to be influenced by external global factors, including oil prices and geopolitical developments.
In conclusion, both the U.S. and Malaysian markets experienced mixed performances, with gains in select sectors being overshadowed by broader market concerns. As global economic uncertainties persist, both markets will continue to react to upcoming data releases and policy decisions.
In conclusion, both the U.S. and Malaysian markets experienced mixed performances, with gains in select sectors being overshadowed by broader market concerns. As global economic uncertainties persist, both markets will continue to react to upcoming data releases and policy decisions.
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