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...
Asian markets were mixed on Thursday after Oracle’s disappointing earnings triggered a selloff in AI-related stocks, while the US dollar weakened and bonds strengthened following the Federal Reserve’s latest rate cut.
Oracle Shock Pulls Down AI Stocks
Oracle shares plunged over 11% after hours as its profit and revenue outlook missed expectations. Executives also warned of higher spending — raising concerns that AI infrastructure costs are rising faster than profits.
In Asia:
SoftBank Group dropped 5%, weighing on Japan’s Nikkei
Tokyo’s AI-linked stocks were the biggest losers
Nasdaq and S&P 500 futures fell 0.5% and 0.3% respectively
Fed Cuts Rates, Dollar Slides
The Fed lowered interest rates by 25bps to 3.5%–3.75%, but Chair Jerome Powell struck a balanced tone, reassuring markets that no official sees rate hikes as the base case.
This pushed:
S&P 500 up 0.7%
Dollar lower, sending the euro above US$1.17
Yen stronger at 155.66 per dollar
The Fed also announced it will buy short-term Treasuries to improve liquidity, giving bonds another lift:
10-year yield dipped to 4.14%
2-year yield fell to 3.54%
Asia Equities Mixed
Hang Seng up 0.8%, helping MSCI Asia ex-Japan rise 0.5%
Nikkei traded flat as AI names dragged
Oil Prices Rise on Geopolitical Concerns
Oil gained for a second session after the US seized a sanctioned Venezuelan tanker, heightening supply risk:
Brent: US$62.53
WTI: US$58.85
What’s Next for the Dollar?
Analysts say the next major trigger will be the US non-farm payrolls on Dec 16. A softer jobs number could keep expectations for more 2026 Fed cuts alive.
ING analysts noted:
“Seasonally, the dollar tends to weaken into year-end. With Fed risk out of the way, EUR/USD could run toward 1.1800.”
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