KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Key Takeaways: BLS revision: US employment from April 2024–March 2025 was revised down by 911,000 jobs , highlighting weaker labor momentum than initially reported. Broader context: The downgrade follows sharp downward revisions in May and June, when job losses totaled 258,000. Policy implications: Economists see limited impact on near-term Fed policy, with markets still expecting a rate cut next week . Political backdrop: Tensions rise as President Trump dismissed the BLS commissioner, raising concerns over the independence of US economic data. Major Payroll Revision Underscores Slowdown The Bureau of Labor Statistics (BLS) reported Tuesday that US payrolls expanded by 911,000 fewer jobs in the year through March than previously estimated. This adjustment, based on more comprehensive unemployment insurance tax records (QCEW), points to a labor market that was already stalling before the latest tariff-related disruptions. The previo...