Oil jumps above US$107 as Asia sells off, Fed and BOJ rate decisions now collide with a fresh energy shock Markets are opening the week under renewed pressure. Brent crude has jumped about 3% to above US$107 , Asian equities are falling sharply, and U.S. Treasury yields remain close to 5%. At the same time, investors are preparing for possible rate hikes from both the Federal Reserve and Bank of Japan this week . For investors, the central question has become: Can central banks contain inflation without causing a much larger slowdown when energy prices are surging at the same time? 30-second market snapshot Market / Asset Latest 🇺🇸 S&P 500 7,656.98, +0.86% Friday 🇺🇸 Dow Jones +0.98% Friday 🇺🇸 Nasdaq +0.96% Friday 🇲🇾 FBM KLCI 1,686.74, -1.10% Friday 🇯🇵 Nikkei -1.7% Monday morning 🇰🇷 Kospi -3.3% Monday morning 🌏 MSCI Asia ex-Japan -0.8% 🛢️ Brent crude ~US$107.36, +2.6% 🛢️ WTI crude ~US$102.48, +2.4% 🇺🇸 U.S. 10Y Treasury ~4.97% 🥇 Gold ~US$4,336...
KUALA LUMPUR (Dec 10): The FBMKLCI ended the day down 0.06% or 0.92 point lower at 1,561.79, tracking regional markets, as investors become anxious about whether the additional US tariffs on Chinese goods, scheduled to be imposed on Dec 15, will be implemented.
When contacted, Rakuten Trade Research vice-president Vincent Lau told theedgemarkets.com that the decline seen in the local benchmark index was in line with regional markets. “Regional markets were also down today, this is because of worries over uncertainties over US tariffs on Chinese imports,” he said.
Some 2.66 billion shares worth RM1.51 billion were traded across Bursa Malaysia today. A total of 407 counters declined versus 346 that climbed, while 426 counters were unchanged.
The top three most active counters on the local bourse were JAKS Resources Bhd, Sanichi Technology Bhd and TDM Bhd, while top gainers were led by Panasonic Manufacturing Malaysia Bhd, Petronas Dagangan Bhd and Heineken Malaysia Bhd. The top losers' list, on the other hand, were led by Dutch Lady Milk Industries Bhd, Hong Leong Industries Bhd and Kuala Lumpur Kepong Bhd.
According to Reuters, most Southeast-Asian markets saw declines today, as uncertainty surrounding the Dec 15 deadline for fresh US tariffs on Chinese imports looms.
If US President Donald Trump decides to maintain the tariffs, some US$156 billion worth of Chinese goods entering the US will be slapped with tariffs come Sunday (Dec 15).
That being said, both the US and China have made efforts to reconcile their differences. Chinese officials have said that the middle kingdom hopes to make a trade deal as soon as possible, while Trump said the US is doing well in crafting an agreement with China.
Markets in China meanwhile saw mixed results as the Shanghai Composite saw gains, while Hong Kong’s Hang Seng declined. The first closed the trading day at 2,917.32 points, up 0.10% or 2.84 points higher, while the latter lost 0.22% or 58.11 points to end the day at 26,436.62 points.
South Korea’s Kospi was 0.45% or 9.35 points higher at 2,098 points, while Japan's Nikkei 225 finished the trading day 0.09% or 20.51 points lower at 23,410.19 points.
Source: The Edge
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