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...
Asian equities edged closer to record highs on Friday, buoyed by strong earnings from Amazon and Apple, which reignited risk appetite and sent US equity futures higher after a brief pause in the global stock rally.
Global Stocks Extend Gains
The MSCI Asia-Pacific Index rose 0.6% at the open, led by gains in Japan’s Nikkei 225, while S&P 500 futures climbed 0.6% and Nasdaq 100 futures added 1.2% following overnight weakness in Wall Street.
The rebound came as Apple beat revenue expectations and issued a bullish holiday forecast, while Amazon shares surged 13% in extended trading after posting its fastest cloud growth in nearly three years.
Market sentiment also improved on signs of easing US-China trade tensions, even as the Federal Reserve signaled that a December rate cut is not guaranteed.
Tech Optimism vs. AI Cost Concerns
Mega-cap tech stocks found relief after Thursday’s sell-off, which was triggered by concerns over rising AI infrastructure costs.
Meta Platforms fell 11% following a US$30 billion bond sale, weighing on indices that had collectively added US$17 trillion in market value since April.
“This doesn’t mean the AI bubble will burst,” said Matt Maley of Miller Tabak. “But it raises the odds of a short-term pullback.”
Microsoft also declined after underwhelming results, while Nvidia slipped amid uncertainty over chip export approvals to China.
Macro Factors: Fed Signals Caution
Bond yields steadied after a rise across the curve, while the US dollar eased and the yen strengthened following faster inflation in Tokyo.
Fed Chair Jerome Powell urged investors to moderate expectations for future cuts, warning that “the bar for employment gets raised” if inflation pressures persist.
The Fed voted 10–2 to cut rates by 25 basis points — the second straight cut — though dissent among policymakers signaled a more hawkish tone.
“If the Fed skips December, expect fewer cuts next year,” said Andrew Brenner of NatAlliance Securities.
Trade Tensions Cool
US Treasury Secretary Scott Bessent said Washington could return to formal trade talks with Beijing within a year.
This followed a landmark summit between Donald Trump and Xi Jinping, where both sides agreed to extend the tariff truce, roll back export controls, and ease trade barriers.
“Both sides are stepping back from escalation, though long-term competition remains,” said Paul Christopher at Wells Fargo Investment Institute.
Corporate Highlights
Intel Corp is in talks to acquire AI chip start-up SambaNova Systems.
ANZ Group Holdings expects a A$1.1 billion hit to second-half profit due to one-off items.
Netflix is exploring a bid for Warner Bros Discovery, per Reuters, and also announced a 10-for-1 stock split.
BYD Co reported another quarterly profit decline amid rising competition in China’s EV market.
Hitachi Ltd surged as much as 12% after posting strong AI-driven earnings.
Market Snapshot (as of 9:54 a.m. Tokyo time)
Stocks
S&P 500 futures: +0.7%
Nasdaq 100 futures: +1.2%
Nikkei 225 (OSE): +1.7%
Topix: +1.3%
Hang Seng futures: –0.3%
S&P/ASX 200: +0.5%
Currencies
Dollar Index: Flat
Euro: US$1.1576
Yen: 153.98 per dollar
Offshore yuan: 7.1087 per dollar
Australian dollar: US$0.6558
Bonds
US 10-year yield: 4.10%
Japan 10-year yield: 1.655%
Australia 10-year yield: 4.31%
Commodities
WTI crude: US$60.28/barrel (–0.5%)
Gold: above US$4,000/oz
Bitcoin: US$109,298 (+1.7%)
Ether: US$3,836 (+2.1%)
Investor Takeaway
Investor sentiment is stabilizing after a volatile week for mega-cap techs. Strong earnings from Amazon and Applereaffirm the resilience of corporate earnings, though AI spending concerns and Fed uncertainty could keep markets choppy in the near term.
Short-term traders may look to ride the tech rebound, while long-term investors should watch for signals from Fed policy and US-China trade talks that could determine the next leg of the global equity rally.
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