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...
As 2024 comes to a close, it’s clear this has been a year of remarkable financial milestones and volatility. From historic gains in tech stocks and cryptocurrencies to significant geopolitical and economic shifts, these events reshaped global markets.
1. Trump and Musk: The Power Duo
Trump's Return:
- Donald Trump became the first non-consecutive two-term U.S. president since 1892, sweeping Congress.
- Shares of $Trump Media & Technology (DJT.US)$ saw extreme volatility, with the DJT index surging 120% in October alone.
Musk’s Gains:
- Elon Musk supported Trump, donating $250 million to his campaign and was appointed head of the new "Department of Government Efficiency."
- $Tesla (TSLA.US)$ shares soared 75% post-election, hitting $488, while Musk’s net worth grew by $200 billion.
2. Bitcoin’s Meteoric Rise
- Price Milestones: Bitcoin surged 130% in 2024, surpassing $100,000 and becoming the 7th largest global asset.
- Key Catalysts:
- January: Approval of Bitcoin spot ETFs.
- April: Halving event.
- November: Trump’s election and pro-crypto policies, including appointing a crypto advocate as SEC chair.
- Bitcoin ETFs amassed $100 billion in assets within 10 months, reaching 82% of U.S. gold ETF levels.
3. Black Monday: Global Market Turmoil
- On August 5, financial markets were rocked by:
- S&P 500: Fell 3%, with the CBOE Volatility Index (VIX) spiking 180%.
- Nikkei 225: Dropped 12%, its largest single-day decline ever.
- KOSPI: Declined over 8%, triggering trading halts.
- Trigger:
- Japan’s unexpected 15-basis-point rate hike spurred a yen appreciation, unwinding carry trades and fueling sell-offs.
4. Nvidia: The Stock Market King
- Historic Growth:
- Nvidia’s stock surged 160% in 2024, driven by explosive growth in its AI-powered data center division.
- Achieved a $3 trillion market cap by June 5, surpassing Microsoft and Apple.
- Record Gains: On February 22, Nvidia added $277 billion in market value, the largest single-day gain in U.S. market history.
5. Chinese Stocks: A Policy-Driven Rally
- Stimulus Impact:
- Beijing’s National Day stimulus measures boosted U.S.-listed Chinese stocks and indices like the Nasdaq Golden Dragon China Index (+38%).
- Top Performers:
- $KE Holdings (BEKE.US)$ and $Bilibili (BILI.US)$ (+70%).
- $JD.com (JD.US)$, $PDD Holdings (PDD.US)$, and $Kanzhun (BZ.US)$ (+50%).
- Monetary Policies:
- The People’s Bank of China announced rate cuts, reduced reserve requirements, and property market support.
- The Politburo’s emphasis on "moderately loose monetary policy" marked a shift not seen since 2010.
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