logo
MARKET PULSE AM JUNE 10, 2025 [WATCH]

MARKET PULSE AM JUNE 10, 2025 [WATCH]

KUALA LUMPUR: News on the latest moves on the stock and crypto markets.
Paradigm REIT opened flat on its Main Market debut today, unchanged against its IPO price of RM1 per unit.
In early trade, the REIT moved within a narrow range, between 99.5 sen and RM1.02, with over 11 million units changing hands.
Bursa Malaysia saw choppy trading earlier today, tracking Wall Street's mixed performance amid ongoing caution over the outcome of US-China trade talks.
The FBM KLCI is expected to trend within the 1,515 to 1,525 range.
In the cryptocurrency market, Bitcoin climbed to RM462,888.
Ethereum and Solana have followed suit, trading at RM11,374 and RM676, respectively.
That's it for Market Pulse.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

On the rise: Bursa Malaysia expected to move upwards to the 1,590 level this week
On the rise: Bursa Malaysia expected to move upwards to the 1,590 level this week

The Star

time7 hours ago

  • The Star

On the rise: Bursa Malaysia expected to move upwards to the 1,590 level this week

KUALA LUMPUR (Bernama): Bursa Malaysia is expected to rise this week towards the 1,590 resistance level, contingent on supportive global risk sentiment and incremental clarity over semiconductor tariff trajectories, said an analyst. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said that given the weekend timing of the meeting between US President Donald Trump and Russian President Vladimir Putin, Malaysia's equity market will absorb any geopolitical repricing effects when trading resumes next week. "Domestically, the investment narrative will be shaped by further disclosures on the 13th Malaysia Plan (13MP) project allocations, while the approach of Budget 2026 -- now under two months away -- will heighten focus on stakeholder engagement sessions as potential precursors to fiscal policy direction ahead of the Prime Minister's parliamentary tabling,' he told Bernama. On the inflation front, Mohd Sedek said Malaysia's July Consumer Price Index (CPI), due for release on Friday, Aug 22, will offer the first high-frequency read on the pass-through impact of the broadened Sales and Service Tax (SST) regime. "We project headline CPI at 1.2 to 1.3 per cent year-on-year, up from 1.1 per cent in June, with core inflation expected to remain contained,' he said. Globally, Mohd Sedek said, investor attention is set to converge on Wednesday's release of the Federal Open Market Committee minutes and the Jackson Hole Symposium (Aug 21-23) -- both considered potential catalysts for repricing policy-rate expectations if a pivot narrative gains momentum. "Pre-Jackson Hole signalling from Washington has intensified, with the Trump administration adopting a more assertive communications posture than the Federal Reserve's (Fed) measured, data-dependent stance. "Treasury Secretary Scott Bessent has escalated his call from a 50-basis-point cut to a cumulative 150-basis-point reduction, amplifying political pressure on the Fed. "This shift, combined with personnel changes at the Bureau of Labor Statistics and the nomination of dovish candidates to the Federal Reserve Board, reflects a coordinated strategy to influence Fed chair Jerome Powell's policy trajectory,' he said. He added that any eventual dovish recalibration could be positioned domestically as both a political and macroeconomic victory, reinforcing the administration's narrative of executive influence over monetary normalisation. On a weekly basis, the FTSE Bursa Malaysia KLCI rose 19.36 points to 1,576.34 on Friday from 1,556.98 a week earlier. The FBM Emas Index gained 129.27 points to 11,731.06, the FBMT 100 Index climbed 132.95 points to 11,512.86, the FBM Emas Shariah Index added 20.67 points to 11,654.85, the FBM 70 Index improved 155.15 points to 16,660.68, and the FBM ACE Index advanced 106.57 points to 4,713.45. By sector, the Financial Services Index rose 499.25 points to 18,080.07, the Plantation Index increased 77.91 points to 7,504.03, and the Energy Index went up 4.11 points to 740.83. Weekly turnover dropped to 11.10 billion units worth RM11.87 billion from 12.65 billion units worth RM11.65 billion in the previous week. The Main Market volume shrank to 7.16 billion units valued at RM11.06 billion compared with 7.66 billion units valued at RM10.61 billion previously. Warrants turnover declined to 3.37 billion units worth RM453.56 million from 3.62 billion units worth RM508.07 million in the preceding week. The weekly ACE Market volume grew to 1.64 billion units valued at RM593.87 million versus 1.37 billion units valued at RM529.84 million previously. - Bernama TAGS:

Dropping Formula One was a mistake, says Sepang boss
Dropping Formula One was a mistake, says Sepang boss

New Straits Times

time12 hours ago

  • New Straits Times

Dropping Formula One was a mistake, says Sepang boss

KUALA LUMPUR: Sepang International Circuit (SIC) chief executive officer Azhan Shafriman Hanif believes it was a mistake for Malaysia to stop hosting Formula One races here. Shafriman said it is now very difficult to bring back the race to Sepang as there is a long waiting list for a slot on the Formula One calendar. SIC is currently preparing to negotiate a contract renewal for MotoGP hosting rights with Dorna Sports. "We do not want to repeat the mistakes of the past. We let Formula One go and now it is very hard to get it back. I hope we don't make the same mistake with MotoGP," said Shafriman recently. "There is a waiting list to get back in (for Formula One) and of course, the costs are very expensive. We were quoted US$70 million race fees (by owners Liberty Media). "That is for each event (edition of Malaysian GP). That does not include our setup costs which are in the region of RM10 to RM20 million for each event. "In total, it would cost us more than RM300 million to bring back the race (annually). "A lot of people (countries) are queuing so it won't be easy. But if we are really serious about it, then maybe we can start the conversation." Sepang hosted Formula One between 1999 to 2017 but dropped the event due to high organising costs, dwindling global interest in the championship and disappointing ticket sales in Malaysia. Formula One has, however, been given a new lease of life since being taken over by current owners Liberty Media in 2017. The Drive to Survive Netflix series, which began airing in 2019, and the introduction of Saturday sprint races in 2021 has significantly boosted interest in the championship. Shafriman added there is strong interest in bringing back the event to Sepang and believes it could be successful if done the right way. "It is not just SIC that wants Formula One. Many other stakeholders from both the government as well as the corporate sector also want it back," said Shafriman. "We have to look at how Singapore is hosting it. They have everyone on board in making it a success, from the ministries to the corporate sector to the hotels. Everybody contributes. "It has to be like that if we bring it back here." Shafriman, however, stressed that it will take some time to turn a profit if Malaysia does once again host Formula One. SIC last week claimed that the highly popular Petronas Grand Prix of Malaysia (MotoGP Malaysia) provides 6.3 times return on investment for Malaysia based on an economic impact study conducted last year. "It will take time. Even with MotoGP, it took time for us to increase the ROI," said Shafriman. "The important thing is that everyone (stakeholders) comes together. "All this while people view MotoGP and Formula One as SIC's events, when they are actually national events. "We are at the forefront in terms of managing the thing, branding and so on, but essentially they are Malaysian events."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store