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...
US President Donald Trump and Chinese President Xi Jinping held their first conversation since last month’s tariff truce, covering a wide slate of geopolitical and economic issues — from trade and Taiwan to Russia’s war in Ukraine — while Trump confirmed plans to visit Beijing in April.
Trump described the call as “very good,” saying both sides discussed agricultural purchases, including soybeans, and stepped-up cooperation to curb illegal fentanyl shipments. He added that he invited Xi for a state visit to the US next year.
But Trump’s public readout avoided the topic that Beijing highlighted most: Taiwan. According to China’s Foreign Ministry, Xi stressed that the island’s “return” is central to the post-World War II order and urged the US to maintain the positive momentum gained after their October meeting in South Korea.
Beijing Pushes Taiwan Issue; US Stays Silent
Xi’s remarks came as tensions rise between China and Japan, a key US ally, following comments by Japan’s new Prime Minister Sanae Takaichi that Tokyo could respond militarily to a Chinese attack on Taiwan. China has lashed out with travel advisories, film suspensions, seafood bans, and expanded military drills.
The White House said the Trump–Xi call mainly focused on the evolving trade agreement, not Taiwan.
Trade Negotiations: Rare Earths and AI Chips
Both sides are still negotiating final terms for China’s pledge to open “general licences” for rare earth and critical mineral exports — materials vital for electronics, robotics and EVs. While details remain unresolved, the US has already rolled back some tariffs and national-security restrictions.
Another sensitive issue is whether Washington should allow export of advanced AI chips to China. Trump is weighing competing advice from aides, Commerce Secretary Howard Lutnick said. Some advisers warn that allowing sales risks eroding US leadership in critical technology.
Soybean Purchases Back on the Table
Trump said China is “in the process” of ramping up purchases of American soybeans, a key part of last month’s agreement. The remarks come as US soybean futures recently hit multi-month highs on expectations of renewed Chinese demand.
Geopolitical Dimension: Russia–Ukraine
China said Xi voiced hope that the US and China could help advance a binding peace agreement in Ukraine. The call lasted roughly one hour, according to the White House.
Key Takeaways for Markets
• US–China ties stabilising, with Trump confirming an April state visit.
• Taiwan remains the central geopolitical fault line, even as the two leaders emphasise cooperation.
• Rare earths deal still unresolved, posing risks to autos, consumer goods and high-tech supply chains.
• AI chip export decision pending, a potential catalyst for semiconductor stocks.
• China’s soybean purchases could support US agriculture prices.
• Geopolitical risks remain elevated, especially as Japan–China strains intensify.
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