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 saw an uneven recovery on Tuesday, following overnight gains on Wall Street after signs that U.S.-China trade talks remain on track.
The MSCI Asia-Pacific ex-Japan Index rose 0.5%, while S&P 500 futures advanced 0.3%, extending Monday’s rally in New York where major indexes climbed up to 2.2%, led by semiconductor stocks. The rebound came after U.S. President Donald Trump signaled a softer stance on trade, with Treasury Secretary Scott Bessent confirming plans for Trump to meet Chinese President Xi Jinping in South Korea later this month.
Regional Performance
Taiwan: Stocks led gains, rising 2.2%, after Samsung Electronics projected a 32% YoY increase in Q3 operating profit, outperforming expectations.
South Korea: The Kospi climbed 1%, boosted by chipmakers and technology shares.
Japan: The Nikkei fell 1.2% as markets reopened post-holiday, while Australia’s ASX 200 edged down 0.1%.
Citi analysts noted that further escalation in U.S.-China tensions appears unlikely, citing China’s stronger bargaining position in negotiations.
Currencies and Commodities
The U.S. dollar rose 0.1% to ¥152.40, while the Dollar Index stood at 99.289.
Traders priced in a 97.8% chance of a 25-basis-point rate cut by the Federal Reserve at its Oct 29 meeting, according to the CME FedWatch Tool.
The euro was steady at US$1.1566, as French President Emmanuel Macron rejected resignation calls amid political pressure.
Brent crude edged up 0.4% to US$63.56 after OPEC’s latest report suggested global supply and demand would likely balance in 2026.
Gold gained 0.7% to US$4,138.39, continuing its record-breaking run, while Bitcoin fell 0.9% to US$114,789.90and Ether slipped 1.5% to US$4,223.14.
Outlook
Global investors are cautiously optimistic that easing trade tensions and expected Fed rate cuts will stabilize markets after recent volatility. However, uneven regional performances highlight persistent concerns over monetary policy shifts, political risks in Europe, and the sustainability of the rally in precious metals.
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