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...
A federal judge in California has halted US President Donald Trump’s plan to lay off thousands of federal workersduring the ongoing partial government shutdown, intensifying tensions between the White House and unions representing public employees.
Court Blocks Layoffs During Shutdown
US District Judge Susan Illston granted an injunction requested by two major unions, blocking layoffs at over 30 federal agencies.
The move temporarily shields thousands of government employees from job losses, as the court reviews claims that the administration’s actions violate federal labor laws.
Illston cited statements from President Trump and budget officials suggesting layoffs were politically motivated—targeting “Democrat agencies.”
“You can’t do that in a nation of laws,” she said during the San Francisco hearing.
The ruling requires the White House to submit a full report by Friday, detailing any layoffs already made and steps taken to comply with the order.
Background: Trump’s Federal Workforce Cuts
The Trump administration has pursued a long-standing plan to reduce the size of the federal workforce, citing efficiency and budget constraints.
Last week, Trump extended a hiring freeze and confirmed that layoffs had begun across multiple agencies, sparing only military and political appointees.
So far, over 4,100 federal workers across eight agencies have received layoff notices.
White House Budget Director Russell Vought suggested on “The Charlie Kirk Show” that up to 10,000 positions could be eliminated.
Unions, including the American Federation of Government Employees (AFGE) and American Federation of State, County, and Municipal Employees (AFSCME), argued that these cuts breach federal law, as layoffs are not an “essential service” allowed during a funding lapse.
Political and Market Reactions
The court’s decision injects fresh political uncertainty into an already tense Washington landscape. The 15-day government shutdown has disrupted federal services and raised short-term risks for contractors, defense suppliers, and state-funded programs.
Markets, however, appeared largely unfazed as investors focused on earnings optimism and potential Fed rate cuts.
Still, analysts warn that prolonged political instability could erode confidence in US governance, with indirect spillovers into bond yields and the dollar if fiscal negotiations drag on.
Next Steps
The US Department of Justice argued that the unions must first bring their claims before a federal labor board, but Judge Illston rejected that stance, urging immediate compliance.
A government appeal is expected in the coming days.
Legal experts say the ruling may set a precedent for future executive workforce actions during shutdowns, constraining the White House’s flexibility in federal staffing.
“Playing games with civil servants’ livelihoods is both cruel and unlawful,” said Skye Perryman, president of Democracy Forward, which represents the unions.
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