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...
The White House rushed to calm fears over the weekend after President Trump shocked businesses by announcing a steep new fee on H-1B visas.
The Announcement
On Friday, Trump said companies would face a $100,000 fee per H-1B application starting Sunday at 12:01 a.m. ET.
The surprise move sparked panic at tech giants like Amazon, Google, and Microsoft, which rely heavily on H-1B workers.
HR teams scrambled to track employees abroad and book flights back to the U.S. before the deadline.
White House Clarifies
By Saturday, officials tried to calm the turmoil:
The fee applies only to new visas, not renewals or current holders.
It’s a one-time charge, not annual.
Existing visa holders can still travel in and out of the U.S.
But confusion lingered. Some H-1B workers said they still won’t risk leaving the country, fearing sudden changes.
Corporate Fallout
Microsoft told H-1B staff in the U.S. to remain stateside “for the foreseeable future.”
Cognizant urged workers abroad to fly back immediately.
Internal messages showed companies pulling staff from meetings and rushing them to airports.
Some workers even tried detours via Guam, Hawaii, or Abu Dhabi to clear U.S. immigration before arrival.
Worker Anxiety
Many H-1B holders described the move as a “travel ban in disguise.”
One worker said he feared choosing between visiting his ill mother in India or keeping his U.S. career.
Immigration lawyers said calls poured in from industries ranging from healthcare to manufacturing, all seeking clarity.
What’s Next
Experts warn this may only be the first step in broader changes to the H-1B program.
“We believe this is just step one on the government’s attack on the H-1B program,” said Shanon Stevenson of Fisher Phillips law firm.
For now, the sudden reversal capped a frantic 24 hours where companies, workers, and lawyers scrambled to adapt — a stark reminder of how quickly U.S. immigration policy can upend corporate life.
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