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...
Oil prices climbed on Monday as optimism grew that the U.S. government shutdown—now in its 40th day—could soon end, potentially boosting demand in the world’s largest oil consumer.
Brent crude rose 0.61% to US$64.02 a barrel, while U.S. West Texas Intermediate (WTI) gained 0.72% to US$60.18by 0751 GMT.
The U.S. Senate is preparing to vote on a funding measure that would reopen the federal government, restoring pay to 800,000 furloughed workers and reviving key programs. Analysts say the move could lift consumer confidence and energy demand, especially in transportation and manufacturing.
“The imminent reopening is a welcome boost... This should also help improve risk sentiment across markets,” said Tony Sycamore, market analyst at IG, who expects WTI to rebound toward US$62 per barrel.
However, gains were capped by concerns over rising global oil supplies. The OPEC+ alliance agreed to a small output increase in December while pausing further hikes in early 2026. Meanwhile, U.S. crude inventories are climbing, and floating oil storage in Asia has doubled in recent weeks amid weaker Chinese demand due to import quota shortages.
Airlines also canceled over 2,800 U.S. flights on Sunday amid the shutdown, threatening to dent jet fuel demand.
Adding to the complex supply picture, Russian oil producer Lukoil faces disruptions as a U.S. sanctions deadlineapproaches on Nov 21, and a planned sale to trader Gunvor collapsed. Meanwhile, President Donald Trump granted Hungary a one-year exemption on importing Russian oil — a move analysts say could further add to global oversupply concerns.
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