KUALA LUMPUR, Dec 4 (Bernama) -- Bursa Malaysia rallied to close broadly higher on Wednesday amid strong buying interests mainly in utility and technology stocks, with the benchmark index gaining 0.44 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.13 points to 1,614.09 from Tuesday’s close of 1,606.96. The index opened marginally higher at 1,606.97 and moved between 1,606.53 and 1,616.03 throughout the day. Advancers thumped decliners 727 to 381 on the broader market, with 522 counters unchanged, 781 untraded and 10 suspended. Turnover advanced to 3.60 billion units valued at RM3.30 billion versus 3.32 billion units valued at RM3.30 billion on Tuesday.
Markets are pulling back slightly after hitting highs on Monday, with the S&P 500 and Nasdaq Composite edging lower in early trading.
Key Market Moves
- S&P 500 Index (.SPX.US): Down 0.17%
- Dow Jones Industrial Average (.DJI.US): Down 0.24%
- Nasdaq Composite Index (.IXIC.US): Down 0.14%
At just past 10:26 AM ET, investors were digesting mixed signals from the markets and economic data.
Sector Highlights
- Wall Street Bets Stocks: Shares of Palantir (PLTR.US) jumped 5% after the company received "FedRAMP High Authorization," enabling the U.S. government to process sensitive but unclassified data with its technology.
- Crude Oil Futures (JAN5): Held steady at $68.
- Bitcoin (BTC.CC): Rose slightly to $96,000.
- Gold and Silver: Both metals climbed amid market uncertainty.
- U.S. Treasury Yields: The 2-Year and 10-Year yields declined, signaling a cautious tone among bond investors.
Economic Data
The latest JOLTS report from the Bureau of Labor Statistics showed job openings at 7.74 million, a slight increase from last month but still at a three-year low since April. This suggests continued caution in the labor market despite overall resilience.
What Traders Are Watching
Yesterday's discussions among traders included interest in water-related stocks, particularly as speculation grows about the role of nuclear-powered AI energy generation and its potential reliance on water resources. While the concept is intriguing, it's unclear whether nuclear plants contract water suppliers or rely on direct sources like rivers.
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