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...
US stock futures rose in early Asian trading as upbeat earnings from Amazon.com and Apple Inc. helped lift sentiment following a volatile session that saw sharp declines in major technology names.
Tech Earnings Drive Overnight Turnaround
Amazon surged up to 15% in after-hours trading after reporting its fastest AWS growth in nearly three years, while Apple advanced following a better-than-expected quarterly revenue and a bullish holiday outlook.
Futures tied to the S&P 500 and Nasdaq 100 gained, partly offsetting Thursday’s broad selloff driven by concerns over heavy AI spending and the Federal Reserve’s cautious tone on rate cuts.
Meta Platforms tumbled 11% after unveiling a US$30 billion bond issuance and rising AI-related costs, dragging the Nasdaq 100 down 1.5% and the S&P 500 down 1% earlier in the day.
“The AI bubble isn’t about to burst, but short-term pullbacks are likely,” said Matt Maley of Miller Tabak.
Fed’s Message: Rate-Cut Optimism Overdone
Treasury yields climbed across the curve, with the 10-year yield up two basis points to 4.1%, as investors reacted to Fed Chair Jerome Powell’s warning that a December rate cut is not guaranteed.
The Fed voted 10–2 to lower rates by 25 basis points for a second consecutive meeting — but dissenting voices signalled internal divisions, tempering expectations for further easing.
“The decision was hawkish because moderates are pushing back,” said Andrew Brenner of NatAlliance Securities.
Trade Truce Brings Some Relief
Markets also digested the outcome of a Trump–Xi summit, which yielded an agreement to extend a tariff truce, ease export controls, and reduce trade barriers.
While the deal fell short of a full economic accord, it signaled a pause in recent trade escalations.
“Both sides are stepping away from confrontation but remain locked in long-term competition,” said Paul Christopher, Wells Fargo Investment Institute.
Sector Highlights
Microsoft slipped after earnings disappointed despite robust cloud growth.
Nvidia declined after Trump clarified that Blackwell AI chips were not discussed with Xi, cooling speculation about export approvals to China.
The US dollar strengthened 0.4%, while gold jumped 2.4% as investors sought safety after Thursday’s selloff.
Investor Takeaway
The market’s near-term direction hinges on whether AI investments translate into profits and how the Fed’s December decision shapes sentiment.
For now, Wall Street’s megacaps remain in focus — the AI race continues, but investors are becoming more selective on who can turn spending into sustained earnings growth.
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