KUALA LUMPUR, Dec 12 (Bernama) -- Bursa Malaysia’s key index closed higher today on bargain hunting, in line with positive investor sentiment across regional markets, consolidating at its highest level in more than two months — a level last seen on Oct 2, 2025. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 12.42 points, or 0.76 per cent, to 1,637.81, compared with Thursday’s close of 1,625.39. The benchmark index opened 2.83 points lower at 1,622.56, thereafter edged down to an early low of 1,622.03, before staging an uptrend to an intraday high of 1,640.36 in late trading. Market breadth was positive, with gainers trouncing decliners at 743 versus 387. Another 530 counters were unchanged, 1,108 untraded, and 16 suspended. Turnover increased to 3.09 billion units worth RM2.46 billion from 2.99 billion units worth RM2.35 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI ended higher on continued...
American Express recorded a strong start to the U.S. holiday shopping season, with retail consumer spending on its network rising 9% during the Thanksgiving-to-Cyber Monday period, CEO Stephen Squeri said on Wednesday.
Holiday Spending Picks Up Despite Economic Concerns
For payments companies, the final weeks of the year typically bring a surge in shopping, travel, and promotional spending. This year’s data eased worries of a softer season following the prolonged U.S. government shutdown and economic uncertainty.
During the Goldman Sachs US Financial Services Conference, Squeri highlighted:
9% growth in U.S. retail spending
13% growth in U.S. Platinum cardholder retail spending
Shares Rise as AmEx Outperforms Peers
American Express shares closed 3.2% higher, extending year-to-date gains to 26.5%, outperforming Visa, Mastercard, and the broader market.
Spending Growth Beats Market Trend
Holiday spending on AmEx’s network continues to run ahead of broader market estimates:
Adobe Analytics reported 7.7% growth in overall U.S. online spending during Cyber Week
AmEx’s more affluent customer base — known for higher incomes, travel plans, and big-ticket purchases — continues to support resilience in transaction growth.
Outlook Remains Positive
In October, AmEx raised the lower end of its 2025 profit and revenue guidance after beating third-quarter expectations.
Squeri added:
“The fourth quarter so far looks pretty much exactly like the third quarter. We’re pretty happy about that.”
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