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Market Daily Report: Bursa Malaysia Ends Lower as Investors Eye US Data, BOJ Decision

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...
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US Economy Powers Ahead: Q3 Growth Revised to 3.1% Amid Consumer and Export Strength

The US economy grew faster in Q3 than previously estimated, driven by strong consumer spending and a surge in exports, according to revised figures from the Bureau of Economic Analysis released Thursday.

Key Highlights

GDP Growth

  • Gross Domestic Product (GDP) increased at a 3.1% annualized rate in Q3, up from the prior estimate of 2.8%.
  • Consumer spending, a key driver of the economy, was revised to 3.7% from 3.5%.

Exports Surge

  • Exports expanded by 9.6%, significantly higher than the previous estimate of 7.5%, with growth entirely attributed to services.

Inflation Metrics

  • The personal consumption expenditures (PCE) price index, excluding food and energy, was revised slightly higher to 2.2%.

Economic Resilience

  • The revised data reinforces that the economy remains strong, defying forecasters’ predictions of a slowdown.
  • This comes on the heels of the Federal Reserve signaling slower rate cuts in 2025, influenced by stronger-than-expected economic data.

Other GDP Components

  • Business investment, residential investment, and government spending also saw upward revisions, contributing to the stronger overall performance.
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