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...
Top U.S. and Chinese economic officials met in Stockholm on Monday for a crucial round of trade negotiations aimed at extending the tariff truce between the two nations. The meeting, lasting over five hours, signals both sides are racing to strike a deal before the August 12 deadline.
Key attendees: U.S. Treasury Chief Scott Bessent and Chinese Vice Premier He Lifeng.
Venue: Rosenbad, the Swedish prime minister’s office.
Negotiators left without comment; talks will resume Tuesday.
The aim: Extend the truce by another three months to avoid U.S. tariffs snapping back to higher levels.
President Donald Trump, speaking separately, urged China to further open its economy. Without an agreement, analysts warn of major disruptions to global supply chains.
Why It Matters:
The U.S. temporarily paused tech export restrictions to China to keep talks alive and pave the way for a potential Trump-Xi meeting later this year.
Semiconductor giants like Nvidia (NVDA) and AMD (AMD) could benefit if trade tensions ease, though U.S. national security concerns remain.
This is the third Bessent-He meeting in 2025, underscoring the urgency on both sides.
Context:
The talks come after Trump clinched a 15% tariff deal with the EU, cutting rates from a threatened 30% and easing market fears.
Trump also touted a $550 billion Japan trade deal, which includes reciprocal 15% tariffs and major Japanese investment in the U.S.
Next Steps:
Markets are now watching for signs of progress and whether the Stockholm talks will set the stage for a high-profile Trump-Xi summit, a potential turning point in the U.S.-China trade war.
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