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...
Market Overview
U.S. stocks extended their rally for a third consecutive session on Tuesday, with all three major indexes — S&P 500, Dow Jones, and Nasdaq Composite — setting fresh record closing highs.
The bullish momentum was driven by optimism over a potential U.S.–China trade agreement, expectations of a Federal Reserve rate cut, and robust gains in mega-cap tech names.
| Index | Close | % Chg | Note |
|---|---|---|---|
| S&P 500 | 6,890.89 | +0.23% | New record close |
| Dow Jones IA | 47,706.37 | +0.34% | Third straight record |
| Nasdaq Composite | 23,827.49 | +0.80% | All-time high |
All three benchmarks also notched intraday records, underscoring the strength of current market sentiment.
Macro Highlights
- U.S.–China Trade Hopes:Investors remain optimistic ahead of Thursday’s Trump–Xi meeting at the South Korea summit. Reports suggest potential easing of rare-earth and software trade curbs, and a U.S. proposal to halve tariffs from 20% to 10%if China curbs fentanyl-related chemical exports.
- Federal Reserve Outlook:Markets price in a 25 bps rate cut to a 3.75%–4.00% range at the FOMC meeting. A lower benchmark rate typically channels liquidity from bonds into equities, fueling risk appetite.
Tech Takes the Lead
The “Magnificent Seven” megacaps once again powered Wall Street gains — with Nvidia and Microsoft leading the pack.
| Stock | Move | Catalyst |
|---|---|---|
| Nvidia (NVDA US) | +5% to US$201.03 | Record high after CEO Jensen Huang’s GTC keynote and a US$1 B investment in Nokia to co-develop AI-RAN and data-center networking. Intraday high US$203.15. |
| Microsoft (MSFT US) | +2% | Gains after confirming a 27% stake in OpenAI’s for-profit arm following recapitalization. |
| Apple (AAPL US) | +0.07% | Touched US$269.89 intraday record on iPhone 17 demand optimism. |
| Alphabet (GOOGL US) | –0.7% | Pulled back after intraday all-time high of US$270.73. |
Investor Sentiment Poll (Moomoo):
72% of respondents expect Nvidia to outperform its Big Tech peers over the next 12 months.
Sector & Stock Movers
📈 Top Gainers
- Nokia (NOK US) +28.8%Soared to its highest level in over 20 years after announcing the US$1 B Nvidia investment and AI partnership.
- Cameco (CCJ US) +23.4%Rallied on reports of an US$80 B U.S. government deal to promote new nuclear power projects. Other nuclear plays — UEC (+14.3%), NXE (+12%), SMR (+8.8%) — gained in sympathy.
- Beyond Meat (BYND US) +9.1%Continued volatile trading following its 1,400% rally and sharp pullback earlier this month.
📉 Top Decliners
Strive (ASST US) –12.2% — Gave back part of Monday’s +49% gain linked to investor Mike Alfred’s stake.
Ondas (ONDS US) –9.8% — Extended losses from its early-October high (+1,950% from March lows).
Quantum Computing Stocks: IONQ –9%, QBTS –8.7%, RGTI –7.9%, QUBT –5.2% — Profit-taking after speculation of possible U.S. government stakes in the sector.
Market Takeaway
The AI-driven tech rally continues to underpin U.S. equity momentum, with Nvidia’s leadership reaffirmed amid a wave of AI infrastructure deals.
Investors now await Wednesday’s Fed decision, which could validate the soft-landing narrative.
With corporate earnings strong and monetary policy still supportive, sentiment toward risk assets remains constructively bullish into year-end.
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