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...
Japanese equities opened lower on Friday, tracking the overnight decline on Wall Street, as fresh inflation data increased expectations that the Bank of Japan may move ahead with a rate hike in December.
The Nikkei 225 fell 1.1%, dropping 572.7 points to open at 49,251.26, with traders reducing risk exposure amid rising price pressures and shifting global sentiment.
Adding to market caution, the Japanese government is preparing a ¥17.7 trillion stimulus package, Bloomberg reported on Thursday, aimed at supporting households and businesses as the economy adjusts to sustained inflation and the likelihood of higher borrowing costs.
A more positive note came from S&P Global’s flash PMI, which showed Japan’s private-sector output hitting a three-month high, supported by firm business confidence. However, the report also highlighted accelerating cost pressures, keeping inflation concerns in focus.
Geopolitical tensions added another layer of uncertainty. The US ambassador reiterated Washington’s support for Japan amid its dispute with China following Prime Minister Takaichi’s comments on Taiwan.
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