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...
Key Takeaways
Employment +10,400 in Q2, sharply higher than Q1’s +2,300.
Unemployment steady at 2.0% in June.
Retrenchments stable at 3,540, mainly from restructuring.
MOM cautions of slower hiring, moderated wage growth ahead.
Singapore’s labor market strengthened in the second quarter, expanding at a faster pace in line with robust economic growth.
Total employment (excl. domestic workers) grew by 10,400, above the ministry’s advance estimate of 8,400.
Both resident and non-resident employment rose.
Unemployment held at 2.0%, showing resilience.
Retrenchments remained largely unchanged at 3,540, driven mainly by corporate restructuring.
Outlook
The Ministry of Manpower warned that global uncertainty may weigh on hiring and wages. Adjustments could come through slower job growth, moderated wage gains, and a modest uptick in retrenchments.
Still, officials emphasized the labor market remains “on a stable footing,” with only early signs of easing.
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