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...
Global Markets
Wall Street ended lower for a second straight session on Wednesday as losses in AI-linked stocks weighed on sentiment. Nvidia and Oracle led the declines, while Micron fell despite upbeat AI-driven growth guidance. Alibaba, by contrast, surged after unveiling its most advanced AI model, Qwen3-Max, alongside new overseas data centers and a partnership with Nvidia.
Investor confidence was tempered by Fed Chair Jerome Powell’s cautious tone. Powell warned that rate cuts must proceed carefully to avoid reigniting inflation, moderating expectations for additional easing following last week’s 25 bp reduction. Attention now turns to Thursday’s Q2 GDP figures and Friday’s PCE inflation data for policy cues.
The Dow Jones shed 0.37%, the S&P 500 slipped 0.28%, and the Nasdaq dropped 0.33%. US Treasury yields firmed, with the 10-year at 4.14%.
Malaysia Markets
The ringgit weakened, with USD/MYR rising 75 pips to 4.2080 as uncertainty over Fed policy direction pressured sentiment. The 10-year MGS yield was steady at 3.48%.
The FBM KLCI ended marginally lower by 3.89 points at 1,599.66, with mixed sectoral performance. Gains were seen in property (+1.21%), technology (+0.91%), industrial production (+0.82%), small caps (+1.00%) and REITs (+1.03%). Losses came from construction (-0.72%), telecommunications (-0.41%), and healthcare (-0.11%).
Stock in Focus – Capital A
Capital A aims to complete its airline disposal by October, paving the way for a PN17 exit by year-end. Management highlighted restructuring momentum, diversified business growth, and dual-listing prospects as key drivers positioning the group for post-pandemic recovery.
Nomura: Reduce, TP RM0.60 (Sep 19)
TA Securities: Buy, TP RM1.60 (Sep 23)
Kenanga: Market Perform, TP RM0.88 (Aug 28)
Commodities & Crypto
Gold pulled back after a three-day rally, pressured by a stronger US dollar and Powell’s measured comments. Safe-haven demand, however, remains supported by central bank buying and ETF inflows.
Crude oil extended gains on concerns over supply disruptions following Ukrainian strikes on Russian facilities and US inventory draws.
Bitcoin steadied near two-week lows after heavy liquidations earlier in the week. Traders are now awaiting Friday’s PCE inflation release for policy signals.
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