KUALA LUMPUR, Dec 16 (Bernama) -- Bursa Malaysia extended its positive performance, closing higher for a fourth consecutive session, supported by improving local market sentiment underpinned by a firm domestic macroeconomic backdrop. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.59 points, or 0.28 per cent, to 1,648.31, from Monday’s close of 1,643.72. The index had opened 0.95 of a point lower at 1,642.77, and moved between 1,636.50 and 1,648.71 throughout the trading session However, on the broader market, decliners beat gainers 699 versus 408. A further 520 counters were unchanged, 1,149 untraded and 12 suspended. Turnover rose to 2.59 billion units worth RM2.27 billion from 2.50 billion units worth RM2.16 billion on Monday.
Key Takeaway
Asian markets tracked Wall Street higher on Friday as investors grew more confident the Federal Reserve will cut rates on Sept 17. Treasury yields slipped to multi-month lows, while traders braced for the U.S. August non-farm payrolls report later in the day.
Market Highlights
Wall Street: S&P 500 closed +0.8% at a record high; Nasdaq gained 1%. Futures point to more modest gains.
Asia:
Japan’s Nikkei +0.8%, nearing record highs
Taiwan benchmark +0.8%
Hong Kong Hang Seng +0.4%
China blue chips +0.4%
Australia +0.3%
Bonds & Rates
U.S. Treasury yields eased to four-month lows:
10-year: 4.15%
2-year: 3.58%
30-year: 4.84%
Japanese 30-year JGB: 3.235%, retreating from record high.
Fed funds futures: Markets price in 25 bps cut in September and ~60 bps of easing by year-end.
Currencies & Commodities
Dollar Index: Down 0.1% to 98.095; still up 0.3% for the week.
Gold: Steady at US$3,552/oz, off recent record highs.
Oil: Brent -0.3% to US$66.77, WTI -0.3% to US$63.29. Both down ~3.5% this week ahead of Sunday’s Opec+ meeting, where members may consider raising production.
Jobs Data Watch
Economists expect +75,000 jobs in August, just above July’s 73,000.
Unemployment claims have ticked up, and private hiring slowed, reinforcing bets the Fed will move.
Analysts caution: a weak print cements the cut, but an ugly number could trigger risk aversion and volatility.
Investor Angle
Markets are in “sink or swim” mode. A steady but weak jobs number likely fuels the rally on rate-cut hopes, while signs of a deeper slowdown could spook risk appetite.
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