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.
Asian equities advanced on Thursday, tracking Wall Street’s gains as strong corporate earnings and continued AI momentum offset lingering concerns over escalating US-China trade frictions. Meanwhile, gold surged to a new record high and the yen strengthened, reflecting renewed demand for safe-haven assets.
Regional Markets Rally on AI and Earnings Momentum
Japan’s Nikkei 225 climbed 0.8%, led by chip and artificial intelligence-related stocks. Taiwan’s benchmark rose 1.4%, South Korea’s Kospi jumped 1.8%, and Australia’s market added 1.1%, with all three touching record highs.
Investors were upbeat ahead of TSMC’s Q3 earnings report, following ASML’s stronger-than-expected results and order book, driven by robust AI chip demand.
Hong Kong and mainland Chinese shares also recovered from early losses despite ongoing trade concerns.
Wall Street Strength Lifts Sentiment
US stocks ended higher overnight as optimism around earnings outweighed trade jitters.
S&P 500: +0.4%
Nasdaq: +0.6%
Philadelphia Semiconductor Index: +3%
Advanced Micro Devices and other chipmakers led gains, while solid results from Morgan Stanley and Bank of America supported broader sentiment.
Gold, Yen, and Oil React to Trade Uncertainty
Gold prices extended their record run, climbing 0.6% to US$4,234.41 per ounce, as investors sought safety amid geopolitical tensions.
The US dollar weakened for a third straight session, slipping 0.4% to ¥150.51 and 0.4% to 0.7943 Swiss franc, while the euro rose 0.2% to US$1.1667.
Oil rebounded from five-month lows after US President Donald Trump said India would stop buying Russian oil — a move that could tighten global supply.
Brent crude: +0.9% to US$62.48
WTI crude: +0.9% to US$58.81
Trade Tensions Still in Focus
Despite market gains, investors remain cautious. Trump confirmed the US is now “in a trade war with China,” though Treasury Secretary Scott Bessent hinted at extending the tariff reprieve and said Trump still expects to meet Chinese President Xi Jinping later this month in South Korea.
“The brinkmanship between the US and China hasn’t dissipated yet,” said Kyle Rodda, senior analyst at Capital.com. “Markets will stay on edge until both sides de-escalate tariff and export control threats.”
Investor Takeaway
AI-driven chip rally continues to power Asia’s markets.
Gold and yen gains highlight underlying caution amid trade uncertainty.
Oil stabilises on supply risk tied to US-Russia sanctions.
Outlook:
While the AI and earnings narrative fuels optimism, geopolitical tensions could keep volatility elevated — making defensive positioning and diversification key themes for investors in the near term.
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