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...
India is fast-tracking negotiations with the United States to seal a long-awaited bilateral trade deal by November, according to Bloomberg, marking a renewed effort to strengthen ties after months of friction over energy imports from Russia.
Momentum Builds in Washington
Officials familiar with the matter said most trade issues have been resolved, with discussions this week in Washington focusing on final sticking points — notably India’s purchase of discounted Russian oil, which remains a sensitive topic. New Delhi is reportedly working on a plan to address the issue in a way that satisfies both sides.
Negotiations, which had stalled after the US doubled tariffs on Indian goods to 50%, resumed last month following a personal call from US President Donald Trump to Prime Minister Narendra Modi. The tone has since turned upbeat, with both governments describing recent talks as “positive.”
“The relationship with India will only strengthen in the months ahead,” said newly appointed US Ambassador Sergio Gor, following his meeting with Modi last week.
Trade and Currency Markets React
The Indian rupee surged nearly 1% in early trading Wednesday — its strongest performance in nearly four months — as optimism over the trade deal and central bank intervention boosted sentiment. The rupee briefly touched ₹88 per US dollar before paring gains, supported also by a weaker dollar and firmer regional currencies like the yuan.
Key Concessions and Strategic Shifts
India has reportedly offered several market-opening measures, including easing restrictions on genetically modified corn imports and increasing purchases of US defense and energy goods. These steps align with Washington’s push to diversify supply chains amid China’s tightening grip on rare earth exports.
Ajay Srivastava, founder of the Global Trade Research Initiative, noted that the speed of talks suggests an imminent breakthrough:
“The US needs reliable partners to build alternative supply chains — and India is stepping up to that role.”
Market Outlook
A successful deal could unlock new trade flows between the world’s two largest democracies and boost investor confidence in both markets. Analysts expect sectors such as agriculture, defense, and manufacturing to benefit most, while a stronger rupee could ease imported inflation pressures.
As the November deadline approaches, investors are watching closely to see whether New Delhi and Washington can turn diplomatic goodwill into a concrete economic win.
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