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...
Gapping Up:
- FedEx (FDX.US): Stock surged 8.6% after the company exceeded fiscal Q2 earnings expectations and announced plans to spin off its freight business.
- Eli Lilly and Co (LLY.US): Shares climbed 5.5%, buoyed by increasing confidence in its obesity treatmentscompeting in a high-demand market.
Gapping Down:
- Nike (NKE.US): Shares dropped 7.4% despite strong Q2 results, as the company highlighted guidance concernslinked to "severe issues."
- Novo-Nordisk A/S (NVO.US): Fell 18% after its next-gen obesity drug CagriSema delivered weight loss resultsbelow expectations in a late-stage trial.
- Tesla (TSLA.US): Declined 5%, impacted by a 40.9% drop in European Union registrations in November compared to last year.
- Trump Media & Technology (DJT.US): Slipped 5.5% after an SEC filing revealed Donald Trump transferred his stake in the company into a revocable trust.
- MicroStrategy (MSTR.US): Dropped 7.6%, and Coinbase (COIN.US) fell 6.6%, driven by a sharp decline in Bitcoin prices after recent highs.
Takeaway:
The market remains volatile, with significant movements driven by sector-specific headwinds and broader macroeconomic factors. Investors are closely monitoring performance and guidance adjustments, particularly in tech, retail, and healthcare sectors.
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