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 13): Malaysian stocks ended the week on a positive note today in line with regional markets as the US delayed a planned increase in its tariff on billions worth of Chinese-made goods.
The FBM KLCI closed up for the third consecutive day, gaining 3.82 points or 0.24% to settle at its intraday low of 1,571.16. The market was trading between 1,571.16 and 1,579.23 points throughout the day.
The top gainers on Bursa Malaysia were lead by Petronas Gas Bhd (+54 sen to RM16.94), Batu Kawan Bhd (+40 sen to RM17) and United Plantations Bhd (+38 sen to RM26.18). The top three laggards were Nestle Malaysia Bhd (-80 sen to RM144.60), Malaysia Airports Holdings Bhd (-34 sen to RM7.55) and QL Resources Bhd (-33 sen to RM7.55).
Trading volume increased to 2.94 billion shares worth RM2.51 billion compared with yesterday's 2.49 billion shares worth RM2.12 billion. Market breadth was positive with 425 gainers versus 368 losers, while 454 counters were unchanged.
According to Reuters, Southeast Asian shares were lifted today in response to the US agreeing to reduce existing tariffs on Chinese goods and delaying Sunday’s scheduled tariffs. Quoting sources, Reuters reported that China agreed to buy US$50 billion in US agricultural goods in 2020.
The Shanghai Composite Index posted a gain of 1.78% at 2,967.68 points. Meanwhile, Hong Kong’s Hang Seng index ended the day 2.57% higher at 27,687.76 points.
South Korea’s Kospi closed 1.54% higher at 2,170.25 points, while Japan's Nikkei 225 saw a 2.55% gain to 24,023.10 points.
Source: The Edge
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