MARKET PULSE AM AUG 14, 2025
Bursa Malaysia opened higher today, tracking Wall Street's bullish momentum on hopes of a Federal Reserve rate cut.
The FBM KLCI climbed near the 1,590 mark, buoyed by bullish regional markets.
The index is seen testing the 1,600 level soon, which could boost overall trading volume on the local bourse.
Buying momentum is expected to persist, with the index likely to hover in the 1,580 to 1,600 range today.
In the crypto market, Bitcoin rose to RM513,381.
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Free Malaysia Today
16 hours ago
- Free Malaysia Today
Ringgit ends lower amid profit-taking
KUALA LUMPUR : The ringgit closed lower today, snapping three consecutive days of gains as profit-taking emerged, with traders opting to lock in earlier gains. Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said the ringgit recorded a sharp rise earlier in the day, reaching as high as RM4.1860 during the morning session, before the US dollar–ringgit pair climbed to RM4.2088 later in the day. He noted that the US dollar/ringgit had crossed the psychological threshold of RM4.20, but profit-taking activities may have emerged as traders sought to lock in gains. 'At the current juncture, enthusiasm for an interest rate cut by the US Federal Reserve (Fed) has gained momentum, and it is taking a toll on the US dollar. 'The impression that the Fed might be behind the curve in managing the monetary policy could also have contributed to the weakness in the US dollar,' he told Bernama. At 6pm, the local note slipped to 4.2090/4.2145 from yesterday's close of 4.2040/4.2085. At the close, the ringgit ended mostly lower against major currencies, except the euro, against which it appreciated to 4.9170/4.9234 from 4.9305/4.9357. It fell versus the Japanese yen to 2.8703/2.8742 from yesterday's close of 2.8554/2.8586 and decreased vis-a-vis the British pound to 5.7146/5.7220 from 5.7078/5.7139. The ringgit traded mostly higher against regional peers. It strengthened versus the Singapore dollar to 3.2849/3.2895 from 3.2864/3.2902 at yesterday's close, rose versus the Thai baht to 13.0004/13.0238 from 13.0276/13.0476, and was higher against the Philippine peso to 7.39/7.41 from 7.41/7.42. However, the local note depreciated against the Indonesian rupiah to 261.1/261.6 from 259.4/259.8.
Malay Mail
19 hours ago
- Malay Mail
Bursa Malaysia aims for 1,590 next week as US tariff signals and Budget 2026 drive investor momentum
KUALA LUMPUR, Aug 16 — Bursa Malaysia is expected to rise next 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
Malaysian Reserve
a day ago
- Malaysian Reserve
Bursa Malaysia expected to rise towards 1,590 level next week
KUALA LUMPUR — Bursa Malaysia is expected to rise next 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
