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...
Trump Unveils Fresh Tariffs Ahead of Oct 1 Deadline
Asian shares retreated on Friday after U.S. President Donald Trump announced a new round of tariffs set to take effect on Oct 1. The measures include:
100% duties on imported branded drugs
25% tariffs on heavy-duty trucks
50% tariffs on kitchen cabinets and bathroom vanities
30% tariffs on upholstered furniture
The sweeping levies rattled regional markets, with Japan’s Topix pharmaceutical index sliding 1.4% and Australian biotech giant CSL tumbling more than 3%.
Regional Market Reaction
Nikkei 225 fell 0.5%
MSCI Asia-Pacific ex-Japan index dropped 0.45%
Nasdaq futures eased 0.08%
- S&P 500 futures slipped 0.02%Meanwhile, European markets bucked the trend, with EUROSTOXX 50 futures up 0.37% and FTSE futuresgaining 0.25%.
“Right now, it adds to a shaky backdrop for risk assets,” said Tony Sycamore, market analyst at IG.
Fed Cut Bets Dialed Back After Strong U.S. Data
Optimism over aggressive Federal Reserve easing faded after Thursday’s data pointed to ongoing U.S. economic resilience. Updated GDP figures showed the economy remained robust in the first half of 2025.
Traders now expect about 39 bps of cuts by December, down from earlier forecasts of 40+ bps.
Wells Fargo economists said the “data deluge gives the U.S. economy a new lease on life.”
Fed’s newest policymaker Stephen Miran urged sharper cuts to avoid a labor market collapse, but most officials remain cautious.
Currency Moves and Commodities
The U.S. dollar hovered near ¥150, boosted by reduced Fed cut bets.
The euro traded at US$1.1668, down 0.6% from the prior session.
Sterling held steady at US$1.3344.
In commodities:
Brent crude rose 0.24% to US$69.59/barrel
U.S. crude gained 0.43% to US$65.26/barrel
Spot gold edged higher to US$3,751.69/oz
Geopolitical Note: Trump Presses Türkiye on Russian Oil
Trump said he expects Türkiye to stop buying Russian oil following talks with President Tayyip Erdogan. He added that the U.S. may lift sanctions on Ankara, potentially clearing the way for the country to purchase American F-35 jets.
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