KUALA LUMPUR: Bursa Malaysia looked shaky at the start of Friday trading but kept mostly to a sideways channel as nerves overtook the global tech sector amid fears the much-anticipated US December rate cut will not materialise.
Wall Street shares were seen diving overnight as the odds of a quarter-percentage reduction in the Federal Funds Rate shrank after policymakers made hawkish comments on the economy.
At present, there are nearly even odds in the year-end interest rate decision, with CME FedWatch indicating a 50.7% probability of a 25 basis points rate cut, and 49.3% of none.
On the domestic front, the quarterly gross domestic product (GDP) is scheduled for release at midday with expectations of 5.2% growth, higher than 4.4% recorded in the first half of the year.
...