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...
U.S. stocks traded mostly lower Monday despite a U.S.-E.U. trade deal, with individual names making big moves ahead of a jam-packed earnings week and key Fed decision.
Winners
Tesla (TSLA): +3.6% after the EU-U.S. trade deal capped auto tariffs at 15%. CEO Elon Musk also confirmed a $16.5B chip deal with Samsung for next-gen AI chips at a Texas fab.
AMD (AMD): +4% to $173.14 after UBS raised its price target to $210, citing AI growth momentum.
ASML (ASML): +4% as European semiconductor stocks jumped post-trade deal.
Nike (NKE): +4% to $79.34 after J.P. Morgan upgraded the stock to Overweight and hiked the target to $93, forecasting a multi-year recovery.
Cheniere Energy (LNG): +1.2% after the EU agreed to buy $750B in U.S. energy, including LNG.
Lockheed Martin (LMT): +0.3% as the EU pledged large U.S. military equipment purchases.
Boeing (BA): +0.5% despite labor tensions after workers rejected a contract offer, triggering a potential strike countdown.
Losers
Revvity (RVTY): -8.3% after mixed Q2 results and lowered earnings guidance.
Charter Communications (CHTR): -2.9%, extending Friday’s historic 18% plunge following subscriber losses.
RTX Corp (RTX): -0.6% despite initial gains from defense spending optimism.
Earnings Spotlight
Cadence Design Systems (CDNS), Welltower (WELL), Waste Management (WM), and Nucor (NUE) posted results Monday, while heavyweights including Microsoft, Apple, Amazon, Meta, Visa, Exxon Mobil, and Boeing are set to report later this week.
Takeaway
Tesla and AMD fueled gains in tech and AI-linked names, while Nike’s upgrade sparked a retail bounce. Revvity’s earnings warning weighed on health sciences, and markets are bracing for a critical week of megacap earnings and Fed commentary.
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