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 Expectations: Non-farm payrolls : +135,000 (vs +151,000 in February) Unemployment rate : Steady at 4.1% Range of estimates : 50,000 to 185,000 jobs Federal jobs cut : Up to 25,000 in March alone Key Drivers of the Slowdown: Mass federal layoffs under the Department of Government Efficiency (DOGE) , with Elon Musk’s cost-cutting campaign facing legal and administrative delays. Tariff Shock : President Trump’s sweeping 10% universal tariff plus targeted duties on 60 nations has raised the effective US tariff rate to a 100-year high. Businesses are pulling back on hiring, delaying capital expenditure, and preparing for margin pressures. Consumer Retrenchment : A wave of pre-tariff stockpiling in late 2024 has reversed, with spending slowing in Q1 2025. Retail and manufacturing payrolls expected to face pressure in April data. Economic Risks Rising: GDP : Q1 growth tracking below 0.5% annualized ; recession odds in...