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US stock markets reached record levels as optimism over potential Iran negotiations drove oil prices down and Treasury yields lower. The Dow Jones hit an all-time closing high amid robust corporate earnings.
Shell's earnings jumped 70% in the first half, reaching US$16.75 billion, as the oil major capitalized on extreme market volatility triggered by regional tensions and geopolitical disruptions affecting global energy supplies.
Oil prices fell sharply to two-week lows as a pause in US-Iran hostilities raised prospects for diplomatic talks, though structural supply disruptions remain unresolved.
The US dollar climbed to a 39-year high of 163.24 yen on Wednesday, driven by geopolitical risks in West Asia and expectations of higher US interest rates, despite Japan signalling readiness to intervene in currency markets.
Bursa Malaysia opened weakly despite overnight oil price gains, with the FBM KLCI up just 3.01 points to 1,714.38. Brent crude surged past US$95 on Middle East tensions, but tech sector concerns and Fed meeting jitters kept investor sentiment muted.
Oil prices jumped Friday as US-Iran military strikes intensified and Iran signalled readiness to block the Red Sea shipping route through its Houthi allies, threatening global energy supplies.
Malaysia's Deputy Finance Minister Liew Chin Tong said the government sees no need to revise Budget 2027 fiscal projections based on first-half 2026 performance, though monitoring continues until the budget's October tabling.