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...
Key Takeaways
Wall Street rallies: S&P 500, Nasdaq, Dow & Russell 2000 all closed at fresh highs after Fed’s first rate cut since 2024.
KLCI dips: Index fell 0.79% to 1,598.93, staying below the 1,600 mark.
Sunway deal: RM2.42B acquisition of MCL Land to expand regional property footprint.
Glove sector pressure: China-backed capacity in Indonesia & Vietnam weighs on Malaysia’s exports.
Ringgit outlook: Expected to end year at 4.10–4.15 vs USD.
Wall Street Recap
S&P 500 +0.5%, Nasdaq +0.9%, Dow +0.3%, Russell 2000 +2.5%.
Fed cut benchmark rate to 4%-4.25%, signaling another 50 bps by year-end.
Intel surged 22.8% on Nvidia’s $5B investment; Nvidia rose 3.5%.
Bursa Malaysia
FBM KLCI closed at 1,598.93 (-0.79%), with mixed breadth (494 gainers vs 515 losers).
Top gainer: MR DIY (+2.53%).
Top loser: Nestlé (-2.96%).
USD/MYR: 4.2035 (+0.18%).
Sector Spotlight
Gloves: Malaysia’s share of US exports slipped to 45% in July (from 75% in June). RHB keeps Underweight on the sector.
Property: Sunway to buy MCL Land for RM2.42B, boosting regional growth.
Utilities: Tenaga dropped judicial review on RM1.4B tax bill, seeks incentives under ITA.
Stocks to Watch
Sunway (5211.MY): Expanding property portfolio via MCL Land acquisition.
MPI (3867.MY): To buy Infineon Thailand for $78M, strengthening manufacturing ties.
EcoWorld (8206.MY): Beat FY25 sales target with RM3.84B.
UMCCA (2593.MY): Q1 profit doubled to RM37.8M.
Magna (7617.MY): Triggered takeover offer at 73 sen/share.
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