KUALA LUMPUR, Dec 16 (Bernama) -- Bursa Malaysia extended its positive performance, closing higher for a fourth consecutive session, supported by improving local market sentiment underpinned by a firm domestic macroeconomic backdrop. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.59 points, or 0.28 per cent, to 1,648.31, from Monday’s close of 1,643.72. The index had opened 0.95 of a point lower at 1,642.77, and moved between 1,636.50 and 1,648.71 throughout the trading session However, on the broader market, decliners beat gainers 699 versus 408. A further 520 counters were unchanged, 1,149 untraded and 12 suspended. Turnover rose to 2.59 billion units worth RM2.27 billion from 2.50 billion units worth RM2.16 billion on Monday.
Market Setup
Futures: Mixed as traders await U.S. jobs data.
S&P 500 E-mini: +0.18%
Nasdaq 100 E-mini: +0.12%
Dow Futures: –0.07% (–30 pts)
Key Headlines
Trump: Tariffs as Income Tax Alternative?
Trump floated replacing income tax with tariffs, calling them “critical” to U.S. success.
Court challenges ongoing — federal appeals court ruled most tariffs illegal; Trump seeking Supreme Court hearing.
Claims success: e.g., India lowering barriers due to U.S. tariffs.
Trump Hosts Tech Titans Tonight
Dinner in the renovated Rose Garden with:
Mark Zuckerberg (Meta)
Tim Cook (Apple)
Bill Gates (Microsoft co-founder)
Sam Altman (OpenAI)
Sundar Pichai (Alphabet)
Aim: Showcase alignment with tech leaders amid regulatory and AI innovation debates.
Nasdaq Tightens IPO Rules (Small & Chinese Firms Targeted)
SEC filing proposes:
Raise public float threshold to $15M (from $5M).
Stricter delisting for firms < $5M market cap.
Chinese companies must raise $25M minimum via IPOs.
Goal: Reduce micro-cap manipulation risks and increase IPO transparency.
Nvidia Still in Demand
Alibaba, ByteDance eye Nvidia’s new B30A chip, priced 2x H20, but offering 6x power boost.
Suggests persistent AI chip appetite despite U.S. export restrictions.
Apple’s Siri Gets an AI Upgrade
Developing World Knowledge Answers, an AI-powered search tool.
Full integration with Safari & Spotlight by Spring 2026.
Uses large language models; testing with Google Gemini and others.
Tesla Opens Robotaxi App to Public
App now available to public riders beyond Austin beta users.
Aligns with Musk’s September timeline for rollout.
Key milestone in Tesla’s autonomous mobility push.
Market Watch
Jobs Report Friday: Traders nearly fully price in 25bp Fed cut Sept 17.
AI theme: Nvidia, Apple, Tesla dominate headlines — tech sentiment driver.
IPO tightening: Could weigh on Chinese ADRs, small caps.
Tariff rhetoric: Adds to trade uncertainty, but markets still focused on Fed easing.
Investor Takeaway: Stay overweight mega-cap tech as policy & AI dominate headlines. Watch IPO sentiment (esp. Chinese firms) after Nasdaq’s stricter rules. Near-term volatility hinges on Friday jobs data.
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