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...
The S&P 500 and Nasdaq Composite opened at fresh record highs Monday after the US and European Union struck a trade pact slashing tariffs, setting a bullish tone for a week filled with megacap earnings, a Fed meeting, and a looming tariff deadline.
S&P 500: +0.08%
Nasdaq Composite: +0.28%
Dow Jones: -0.10% at 44,855.92, roughly 215 points from its record.
Trade Deal Boosts Confidence
President Donald Trump and European Commission President Ursula von der Leyen agreed to cut EU import tariffs to 15%, half the initially threatened 30%. The move follows a series of deals with Japan, Indonesia, and the Philippines last week, fueling hopes that a global trade war may be avoided.
Markets Brace for Key Earnings & Fed Meeting
The rally faces a critical test as Meta, Microsoft, Amazon, and Apple—four of the “Magnificent Seven”—report earnings this week.
Alphabet recently sparked AI optimism with a major capex boost.
Tesla edged up 0.4% after inking a US$16.5B chip deal with Samsung for next-gen AI hardware.
Traders are also watching the Fed’s two-day policy meeting starting Tuesday, with rates expected to stay steady. Odds of a September cut stand at 63%, according to CME FedWatch.
Other Movers
Nike: +2.1% after a JPMorgan upgrade to Overweight.
Ether-linked stocks: GameSquare and BTCS +4% as Ethereum prices hit a seven-month high.
Key Data Ahead
Markets are eyeing the PCE inflation report and non-farm payrolls to assess tariff impacts on prices and employment.
Bottom Line: The US-EU deal has given Wall Street another confidence boost, but with megacap earnings, Fed policy, and global trade talks all converging, this week could determine whether the market’s record-setting momentum holds.
Comments
Post a Comment