KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
The worst start to the year just got crazier as global bear markets looks to worsen.
And the US stock market's decline continued as well. The stock markets closed lower on Thursday but way better off than their lows, as investors digested a massive global sell-off, falling oil prices, and chatter about a possible OPEC production cut.
The Dow briefly fell 400 points in afternoon trading as Boeing and Goldman Sachs weighed the most on the blue chips index before rebounding to close 254 points lower than previous closed. The rebound was due to a report that energy minister of the United Arab Emirates on Sky News Arabia saying OPEC members were ready to cooperate on a production cut. Suhail bin Mohammed al-Mazrouei also said low prices were already forcing non-OPEC members to cap production.
The S&P 500 dropped 1.23 percent as financials fell. The financial sector was on track for its first five-day losing streak since August. At session lows, S&P briefly broke below its Jan. 20 intraday low of 1,812.29 when it hit 1,810.01
The Nasdaq composite also dropped by 0.39%.
Overseas markets fell sharply on Thursday, as Chinese H shares falling about 5 percent, while the pan-European STOXX 600 closed 3.68 percent as banks in the region plunged On Wednesday, European banks soared, momentarily halting a massive plunge.
European markets were also surprised by the Swedish central bank cutting rates further into negative territory.
The sell-off in global equities sent traditional safe havens surging.
Gold futures for April delivery settled $53.20 to trade at $1,247.80, while U.S. 10-year note yields traded at 1.61 percent. The benchmark note yield also went below 1.55 percent momentarily.
Investors also kept an eye on falling oil prices, as WTI futures hit their lowest levels since 2003. U.S. crude closed down 4.5 percent, or $1.24, at $26.21 a barrel, before paring losses in after-hours trading. WTI prices have fallen sharply but have experienced several volatile sessions.
And the US stock market's decline continued as well. The stock markets closed lower on Thursday but way better off than their lows, as investors digested a massive global sell-off, falling oil prices, and chatter about a possible OPEC production cut.
The Dow briefly fell 400 points in afternoon trading as Boeing and Goldman Sachs weighed the most on the blue chips index before rebounding to close 254 points lower than previous closed. The rebound was due to a report that energy minister of the United Arab Emirates on Sky News Arabia saying OPEC members were ready to cooperate on a production cut. Suhail bin Mohammed al-Mazrouei also said low prices were already forcing non-OPEC members to cap production.
The S&P 500 dropped 1.23 percent as financials fell. The financial sector was on track for its first five-day losing streak since August. At session lows, S&P briefly broke below its Jan. 20 intraday low of 1,812.29 when it hit 1,810.01
The Nasdaq composite also dropped by 0.39%.
Overseas markets fell sharply on Thursday, as Chinese H shares falling about 5 percent, while the pan-European STOXX 600 closed 3.68 percent as banks in the region plunged On Wednesday, European banks soared, momentarily halting a massive plunge.
European markets were also surprised by the Swedish central bank cutting rates further into negative territory.
The sell-off in global equities sent traditional safe havens surging.
Gold futures for April delivery settled $53.20 to trade at $1,247.80, while U.S. 10-year note yields traded at 1.61 percent. The benchmark note yield also went below 1.55 percent momentarily.
Investors also kept an eye on falling oil prices, as WTI futures hit their lowest levels since 2003. U.S. crude closed down 4.5 percent, or $1.24, at $26.21 a barrel, before paring losses in after-hours trading. WTI prices have fallen sharply but have experienced several volatile sessions.
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