Latest news with #BursaMalaysiaFinancialServicesIndex
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New Straits Times
10-07-2025
- Business
- New Straits Times
MARKET PULSE PM JULY 10, 2025 [WATCH]
KUALA LUMPUR: News on stock, crypto and ringgit moves. Bursa Malaysia closed higher today, snapping a three-day losing streak. The rebound was led by banking stocks, which lifted the Bursa Malaysia Financial Services Index into positive territory. Consumer stocks among FBM KLCI constituents also extended their gains, supported by the central bank's rate cut, which is expected to lower borrowing costs and boost spending. Meanwhile, the ringgit strengthened against the greenback today to 4.2500. In the crypto market, Bitcoin jumped to RM467,553 amid Wall Street rally. Ethereum rose to RM11,726, while Solana rose to RM666. That wraps up today's Market Pulse.
New Straits Times
09-07-2025
- Business
- New Straits Times
Bursa Malaysia ends lower amid external trade pressures
KUALA LUMPUR: Bursa Malaysia ended lower on Wednesday, continuing its correction phase amid fresh external pressures. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 0.06 per cent or 0.90 points to close at 1,529.24, down from Tuesday's close of 1,530.14. Despite more gainers than losers, with 557 advancing and 371 declining while 527 counters were unchanged, overall market sentiment remained cautious due to rising geopolitical risks and uncertainties surrounding global trade. UOB Kay Hian Wealth Advisors Sdn Bhd investment research head Mohd Sedek Jantan said the introduction of a reciprocal 25 per cent tariff on certain Malaysian exports has significantly altered foreign portfolio investment trends. "Offshore investors turned net sellers as of yesterday's close, reversing the cumulative net inflows observed over the prior week. "The abrupt swing in foreign positioning underscores heightened sensitivity to trade policy volatility," he said. Sedek noted that the financial sector remained weak, with banking stocks declining for the third straight session. He added that this weighed on the Bursa Malaysia Financial Services Index, as concerns over margin compression re-emerged following Bank Negara Malaysia's unexpected 25 basis point rate cut. "The reduction in the Overnight Policy Rate to 2.75 per cent earlier than anticipated appears to be a pre-emptive measure in response to deteriorating global demand indicators and softening domestic growth momentum. "In contrast, technology, consumer discretionary, and utilities sectors saw moderate gains, supported by rotational interest in rate-sensitive and defensive plays," he said.
