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...
Wall Street ended the week higher, with the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all gaining ground as Amazon’s strong earnings and Tesla’s rebound boosted investor sentiment.
Index Performance
Nasdaq Composite rose 143.81 points (+0.6%) to 23,724.96
S&P 500 added 17.86 points (+0.3%) to 6,840.20
Dow Jones Industrial Average inched up 40.75 points (+0.1%) to 47,562.87
Amazon Leads Tech Surge
Amazon (AMZN) was the standout performer, climbing 9.6% after delivering robust third-quarter results and an upbeat outlook. Shares reached an intraday record of $255.50 before easing slightly.
Tesla (TSLA) rebounded 3.8%, recovering from a 4.6% decline the previous day, while Netflix (NFLX) gained 2.7% after announcing a 10-for-1 stock split.
In a market poll, Amazon was voted the top buy choice with 63% of votes, followed by Tesla at 25% and Netflix at 12%.
Meta, Microsoft Drag the “Magnificent Seven” Lower
Despite broad market gains, only Amazon and Tesla finished higher among the “Magnificent Seven.”
Meta Platforms (META) extended its losses, falling 2.7% after disappointing earnings. Microsoft (MSFT) slipped 1.5%, Apple (AAPL) edged down 0.4%, Nvidia (NVDA) was 0.16% weaker, and Alphabet (GOOGL) fell 0.1%.
Big Movers of the Day
Top Gainers:
AMTD Digital (HKD) surged 74.6% following strong half-year results, briefly soaring more than 200% intraday.
Strive (ASST) advanced 9.9% amid continued volatility in Bitcoin-linked stocks.
Quantum Computing (QUBT) jumped 11.6% ahead of its Nov 14 earnings report, leading gains in the quantum computing sector.
Top Decliners:
Getty Images (GETY) dropped 6.5%, reversing early gains despite announcing a licensing deal with AI search engine Perplexity.
Rare-earth metals stocks retreated following the U.S.–China trade truce, which reduced urgency for non-Chinese supply sources. Energy Fuels (UUUU) fell 6%, MP Materials (MP) slid 2.8%, and USA Rare Earth (USAR) declined 1.2%. Nova Minerals (NVA) bucked the trend with a 21.2% gain, while Ramaco Resources (METC) added 2.4% after signing a research and development agreement with the U.S. Energy Department.
Summary
Wall Street wrapped up October on a positive note. Amazon’s record-breaking performance anchored market gains, while Tesla and Netflix added support. However, caution from the Federal Reserve and weakness in Meta and Microsoft tempered overall enthusiasm.
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