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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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Dollar Under Pressure as Fed Credibility Gets Tested

Market Jitters

The US dollar slipped to multi-year lows against the euro and Swiss franc amid fears over the Federal Reserve's independence. Reports suggest that President Trump may announce a replacement for Fed Chair Jerome Powell as early as September, a move markets perceive as politically charged.



Why It Matters

  • Markets fear loss of Fed autonomy could erode policy credibility.

  • A weaker Fed stance may accelerate rate cut expectations.

  • The dollar index hit its lowest since early 2022, while the euro climbed near a four-year high at US$1.1710.

Rebalancing vs. Risk
Some analysts expect short-term dollar support from quarter-end flows, but geopolitical tension and tariff threats are adding pressure.

Market Implications

  • Trump’s comments labeling Powell as “terrible” coincided with Powell’s call for cautious policy due to inflation risks.

  • Markets are now pricing in 64bps of cuts by year-end, up from 46bps just a week ago.

MoneyMaster Take — Key Insights:

  1. Dollar sentiment is vulnerable to political influence over the Fed.

  2. Currency volatility is rising, especially in safe-haven assets like the franc and yen.

  3. Euro strength is underpinned by investment optimism in Europe.

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