Energy Stocks Boost Bursa Malaysia as U.S. Markets Slide on Global Concerns
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U.S. stock markets closed lower, with $道瓊斯指數 (.DJI.US)$ falling by 0.44% to 33,585.00. The day’s losses were driven by declines in key sectors such as healthcare and aerospace, with $默沙東 (MRK.US)$ down 1.70%, $波音 (BA.US)$ losing 1.55%, and $亞馬遜 (AMZN.US)$ declining 1.52%. Meanwhile, technology stocks managed to post gains, with $賽富時 (CRM.US)$ rising 0.51% and $雪佛龍 (CVX.US)$ climbing 0.20%. The mixed performance reflects investor caution amidst global uncertainties, including inflation concerns and the Fed’s interest rate policy.
$標普500指數 (.SPX.US)$ and $納斯達克綜合指數 (.IXIC.US)$ also saw minor losses, closing lower by 0.17% and 0.05%, respectively. Meanwhile, U.S. oil futures rose significantly, with $WTI原油主連(2501) (CLmain.US)$ increasing by 5.25% to USD 73.78 per barrel, and $布倫特原油(現金)主連(2501) (BZmain.US)$ crude advancing by 5.09% to USD 77.66 per barrel.
$標普500指數 (.SPX.US)$ and $納斯達克綜合指數 (.IXIC.US)$ also saw minor losses, closing lower by 0.17% and 0.05%, respectively. Meanwhile, U.S. oil futures rose significantly, with $WTI原油主連(2501) (CLmain.US)$ increasing by 5.25% to USD 73.78 per barrel, and $布倫特原油(現金)主連(2501) (BZmain.US)$ crude advancing by 5.09% to USD 77.66 per barrel.
Bursa Malaysia Rebounds After Early Losses
Bursa Malaysia’s $富時馬來西亞指數 (.KLSE.MY)$ reversed earlier losses, ending the day 2.24 points higher at 1,641.55, representing a 0.14% increase. The index had fluctuated throughout the session, trading between a high of 1,643.82 and a low of 1,630.45. In total, 3.3 billion shares worth RM2.5 billion were traded.
Bursa Malaysia’s $富時馬來西亞指數 (.KLSE.MY)$ reversed earlier losses, ending the day 2.24 points higher at 1,641.55, representing a 0.14% increase. The index had fluctuated throughout the session, trading between a high of 1,643.82 and a low of 1,630.45. In total, 3.3 billion shares worth RM2.5 billion were traded.
The market showed mixed sentiment, with 473 gainers outnumbered by 504 decliners, while 545 counters remained unchanged. Among the top gainers were $F&N (3689.MY)$ and $PANAMY (3719.MY)$, both climbing 50 sen. Conversely, $PERTAMA (8532.MY)$ plunged to a two-year low, hitting its limit down, losing 30% and closing at RM1.12.
Regional Market Performance and Ringgit Depreciation
Regionally, Asian markets showed a varied performance. Japan’s $日經225 (.N225.JP)$ surged by 1.97%, driven by optimism over global demand for Japanese exports, while Hong Kong’s $恒生指數 (800000.HK)$ fell by 1.47%, impacted by geopolitical tensions. The $富時新加坡海峽指數 (.STI.SG)$ in Singapore ended marginally higher, adding 0.04%.
Regionally, Asian markets showed a varied performance. Japan’s $日經225 (.N225.JP)$ surged by 1.97%, driven by optimism over global demand for Japanese exports, while Hong Kong’s $恒生指數 (800000.HK)$ fell by 1.47%, impacted by geopolitical tensions. The $富時新加坡海峽指數 (.STI.SG)$ in Singapore ended marginally higher, adding 0.04%.
The $美元/馬來西亞令吉 (USDMYR.FX)$ continued its downward trend, falling for a third consecutive session by 1.2%, hitting its lowest point since mid-September. The depreciation was influenced by rising demand for the U.S. dollar amidst escalating tensions between Iran and Israel, prompting investors to seek safe-haven assets.
Sectoral Insights and Market Movers
In the energy sector, $HENGYUAN (4324.MY)$ gained 26 sen to RM2.35, benefiting from the increase in crude oil prices. Other notable gainers included $AYER (2305.MY)$, which rose 30 sen to RM7, and $BLDPLNT (5069.MY)$, which gained 46 sen to close at RM11. In contrast, $MPI (3867.MY)$ dropped 36 sen to RM26.58, and $HEIM (3255.MY)$ slid 28 sen to RM23.42.
$Bursa能源行業指數 (0061I.MY)$-related stocks received a boost from rising oil prices, while profit-taking activities hit $Bursa工業產品與服務行業指數 (0002I.MY)$ and $Bursa金融服務行業指數 (0010I.MY)$ stocks. The broader market remained mixed, with profit-taking activities dominating some sectors.
In the energy sector, $HENGYUAN (4324.MY)$ gained 26 sen to RM2.35, benefiting from the increase in crude oil prices. Other notable gainers included $AYER (2305.MY)$, which rose 30 sen to RM7, and $BLDPLNT (5069.MY)$, which gained 46 sen to close at RM11. In contrast, $MPI (3867.MY)$ dropped 36 sen to RM26.58, and $HEIM (3255.MY)$ slid 28 sen to RM23.42.
$Bursa能源行業指數 (0061I.MY)$-related stocks received a boost from rising oil prices, while profit-taking activities hit $Bursa工業產品與服務行業指數 (0002I.MY)$ and $Bursa金融服務行業指數 (0010I.MY)$ stocks. The broader market remained mixed, with profit-taking activities dominating some sectors.
Outlook and Market Sentiment
Both U.S. and Malaysian markets remain under pressure from geopolitical concerns and economic uncertainties. In the U.S., investors are focusing on upcoming labor market data, including jobless claims and the JOLTS job report, as well as potential wage growth and unemployment data. These economic indicators will provide critical insights into the Federal Reserve’s monetary policy approach.
Meanwhile, in Malaysia, the market’s direction will largely depend on external factors, particularly global commodity prices and geopolitical developments in the Middle East. The weakening of the ringgit adds further caution to the local market, although selected sectors such as $Bursa能源行業指數 (0061I.MY)$ and $Bursa種植行業指數 (0025I.MY)$ may continue to see gains.
Both U.S. and Malaysian markets remain under pressure from geopolitical concerns and economic uncertainties. In the U.S., investors are focusing on upcoming labor market data, including jobless claims and the JOLTS job report, as well as potential wage growth and unemployment data. These economic indicators will provide critical insights into the Federal Reserve’s monetary policy approach.
Meanwhile, in Malaysia, the market’s direction will largely depend on external factors, particularly global commodity prices and geopolitical developments in the Middle East. The weakening of the ringgit adds further caution to the local market, although selected sectors such as $Bursa能源行業指數 (0061I.MY)$ and $Bursa種植行業指數 (0025I.MY)$ may continue to see gains.
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