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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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Oil Prices Inch Up as US Stockpile Draw Signals Strong Demand

Oil prices nudged higher early Thursday, with Brent crude at US$67.80 and WTI at US$65.12, following a bullish inventory report from the US.

Key Drivers

  • US crude inventories fell by 5.8 million barrels, far exceeding forecasts of a 797,000-barrel draw.

  • Gasoline stocks also dropped by 2.1 million barrels despite expectations of a build, with demand hitting its highest level since December 2021.

Geopolitical Watch

Market sentiment remains cautious due to ongoing uncertainty around the Iran-Israel ceasefire. While a tentative peace holds, traders are watching for developments.

Opec+ in Focus

Rosneft's CEO hinted that Opec+ may advance its production hikes, which could cap gains in the medium term.

Outlook & Forecast

Economists like Nomura's Yuki Takashima project WTI could stabilize between US$60-US$65, assuming Middle East tensions remain contained.

MoneyMaster Take — Key Insights:

  1. Stronger-than-expected US demand is boosting crude prices.

  2. Tightening inventories signal a healthy consumption trend.

  3. Geopolitical risks remain a wildcard for price direction.

  4. Opec+ policy changes could influence supply outlook.

Our Move:
Traders and investors may consider energy ETFs or oil-related equities for short- to mid-term plays, especially if inventory trends persist.

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