KUALA LUMPUR, Dec 12 (Bernama) -- Bursa Malaysia’s key index closed higher today on bargain hunting, in line with positive investor sentiment across regional markets, consolidating at its highest level in more than two months — a level last seen on Oct 2, 2025. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 12.42 points, or 0.76 per cent, to 1,637.81, compared with Thursday’s close of 1,625.39. The benchmark index opened 2.83 points lower at 1,622.56, thereafter edged down to an early low of 1,622.03, before staging an uptrend to an intraday high of 1,640.36 in late trading. Market breadth was positive, with gainers trouncing decliners at 743 versus 387. Another 530 counters were unchanged, 1,108 untraded, and 16 suspended. Turnover increased to 3.09 billion units worth RM2.46 billion from 2.99 billion units worth RM2.35 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI ended higher on continued...
Key Takeaways
Asian equities opened weaker on Monday, tracking Wall Street’s tech-led decline last Friday.
Samsung Electronics and SK Hynix fell after US Commerce Department restrictions on China-linked shipments.
Uncertainty grows after a US federal court ruled Trump’s global tariffs illegal, though duties remain in place.
China in focus: Alibaba surged 13% in New York on strong AI-driven revenues, but manufacturing remains in contraction.
Key US data ahead — jobs, inflation, and the Fed’s policy decision — will shape sentiment as September begins.
Equities
Japan & Korea: Indices opened lower, weighed by chipmakers after Washington revoked shipment licenses for certain goods tied to China’s semiconductor supply chain.
Australia: S&P/ASX 200 fell 0.2%, reflecting global risk-off tone.
MSCI Asia ex-Japan: Slid up to 0.4%, mirroring cautious sentiment.
Alibaba impact: Chinese equities will be in focus after Alibaba’s 13% rally in New York on AI-driven revenue growth, though weak PMI data underscores ongoing macro softness.
Macro & Policy Drivers
US tariffs: The federal appeals court ruling that Trump’s global levies were illegally imposed has raised fresh uncertainty. Tariffs remain in place for now, keeping pressure on Asia’s exporters.
Semiconductors: US restrictions on Samsung and SK Hynix highlight supply-chain risks in the world’s largest chip market.
Domestic politics:
Indonesia: President Prabowo canceled a China trip amid deadly unrest over living costs and inequality.
Thailand: Political uncertainty continues as parties maneuver following PM Paetongtarn Shinawatra’s disqualification.
Wall Street & Outlook
US stocks fell Friday, led by Nvidia and Dell Technologies, with investors questioning margins in AI infrastructure.
Analysts caution that September is historically the S&P 500’s weakest month, but few expect liquidation purely on seasonality.
The coming 14 trading sessions are critical: non-farm payrolls, inflation data, and the Fed’s decision will set near-term market tone.
Market Snapshot (9:30am Tokyo)
Equities: S&P 500 futures +0.2%; Euro Stoxx 50 futures +0.3%; Japan’s Topix flat; Australia’s ASX 200 –0.2%; Hang Seng futures +1.2%.
Currencies: USD steady; EUR at 1.1693; JPY –0.1% at 147.22; CNH flat at 7.1228; AUD steady at 0.6545.
Bonds: Japan 10Y +1.5bps to 1.615%; Australia 10Y +3bps to 4.30%.
Commodities: Brent –1.1% last Friday; WTI –0.1% to $63.92; Gold steady.
Crypto: Bitcoin –1.2% to $107,864; Ether –1.7% to $4,379.
Investor View
The combination of US trade uncertainty, Asia tech headwinds, and domestic political risks in Southeast Asia suggests volatility will remain elevated into September. Investors should watch US macro releases closely, as they will determine whether the equity rally extends or pauses amid tightening liquidity conditions.
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