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 look poised to open higher Wednesday, tracking Wall Street gains amid optimism that the record U.S. government shutdown could end within days, clearing a key uncertainty for investors and restoring access to delayed economic data.
Futures rose in Hong Kong and Australia, while Japan was little changed. The S&P 500 erased earlier losses to close up 0.2%, buoyed by expectations that a reopening of the government will release fresh liquidity into markets. The Nasdaq 100 fell 0.3%, pressured by a 3% drop in Nvidia Corp. after SoftBank Group Corp. sold its entire stake in the chipmaker to fund artificial intelligence investments.
The Senate passed a temporary funding bill that would reopen most of the government through Jan. 30, sending it to the House for final approval. President Donald Trump has already endorsed the measure, raising hopes the shutdown — the longest in U.S. history — could end as soon as Wednesday.
Despite the disruption, the S&P 500 has gained about 2% since the shutdown began, outperforming the average return during past shutdowns, data from CFRA Research show.
“We are buyers of this dip and maintain our tactical bullish call,” said Andrew Tyler, head of JPMorgan Market Intelligence. “Reopening the government should boost GDP forecasts and inject more liquidity — both supportive of equities.”
Treasury futures rallied during the Veterans Day holiday as ADP private payrolls data pointed to a softer U.S. labor market, pushing Fed rate-cut bets higher. Markets now price a 60% chance of a December cut, while the yen steadied around 154 per dollar after earlier gains.
Economists expect that once agencies reopen, a flood of delayed data — including the September jobs report — could be released within days. Most Bloomberg-surveyed economists still expect the Federal Reserve to deliver a quarter-point cut at its Dec. 9–10 meeting, though Chair Jerome Powell recently cautioned that no decision is locked in.
In corporate news, investors are now turning their focus to Nvidia’s earnings report on Nov. 19, a key test for the AI-fueled tech rally that has dominated global markets this year.
Oil edged higher as strong fuel margins offset signs of oversupply, while gold pared gains amid renewed risk appetite.
Key Takeaways
Asia opens firmer: Hong Kong and Australia futures point higher as Wall Street recovers on hopes of a U.S. government reopening.
Shutdown resolution in sight: Senate passes funding bill; House vote next could end the 40-day impasse.
Fed outlook shifts: Weak U.S. jobs data and shutdown resolution increase bets for a December rate cut.
Tech remains driver: Nvidia’s upcoming earnings on Nov. 19 will be pivotal for market sentiment.
Commodities mixed: Oil rises on stronger fuel margins; gold trims gains as risk appetite improves.
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