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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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Markets Close Mixed: Nasdaq Falls 200+ Points, Tesla Drops Below $1 Trillion

 Key Market Movements

  • Nasdaq Composite (-1.35%) fell sharply, dragged by tech stocks.
  • S&P 500 (-0.41%) recorded its fourth straight losing session.
  • Dow Jones (+0.37%) ended higher, bucking the broader downtrend.

Major Stock & Crypto Updates

  • Tesla (TSLA) plunged over 9%, bringing its market cap below $1 trillion.
  • Solventum (SOLV) soared 10% after Thermo Fisher Scientific (TMO) announced a $4.1 billion acquisition of its purification and filtration unit.
  • Bitcoin dropped to $87,000, a three-month low, as the crypto market saw an overall 10% decline.
  • VIX spiked to 21.28, the highest since Jan. 27, indicating growing market volatility.

Bond Market & Earnings Watch

  • 10-year Treasury yield fell below 4.3%, its lowest level since December, signaling recession fears.
  • Upcoming Earnings:
    • After the bell: Intuit (INTU), CAVA Group (CAVA), Maplebear (CART), Workday (WDAY).
    • Wednesday: Nvidia (NVDA) earnings—market watchers anticipate a major impact.

Summary:

  • Nasdaq led the market decline, down over 200 points, while Dow gained slightly.
  • Tesla slid 9%, losing its $1 trillion market cap.
  • Bitcoin fell to $87K amid a broader crypto selloff.
  • 10-year Treasury yields dropped, fueling recession concerns.
  • Nvidia’s earnings on Wednesday could be a major market driver.
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