Malaysian bourse likely to open lower as global cues weigh ahead of U.S. jobs data

The Malaysian equity market has slipped for two consecutive sessions, shedding roughly 20 points, or about 1.2%, to hover just above the 1,640‑point level. The Kuala Lumpur Composite Index could face additional declines on Friday.

Asian markets are forecast to trade largely flat as investors await pivotal U.S. employment data later in the session. European and U.S. equities were weaker, suggesting a similar downtick for Asian bourses.

The KLCI managed a modest gain on Thursday, boosted by strength in the financial sector, while industrials and telecoms posted mixed results.

Gaining 2.24 points, or 0.14%, the index closed at 1,641.55, after oscillating between 1,630.45 and 1,643.82.

Active stocks showed mixed performance. Sunway surged 1.94%, followed by Petronas Chemicals (+1.23%) and Public Bank (+0.88%). Genting (+0.48%), Maybank (+0.76%) and MRDIY (+0.49%) also advanced. Conversely, YTL Power fell 1.65%, Petronas Dagangan dropped 1.43%, and PPB Group retreated 1.08%, while Celcomdigi slipped 0.80%, Maxis lost 0.26%, MISC declined 0.63%, Sime Darby (-0.82%), YTL Corporation (-0.81%), Tenaga Nasional (-0.14%) and several others such as Genting Malaysia, IHH Healthcare, IOI Corporation, Kuala Lumpur Kepong, Telekom Malaysia, SD Guthrie and Hong Leong Bank closed unchanged.

Wall Street’s lead remained weak as major U.S. indices opened lower on Thursday and stayed largely in negative territory, ending the session with modest losses.

The Dow declined 184.93 points, a 0.44% drop, to close at 42,011.59. The NASDAQ slipped 6.65 points, or 0.04%, finishing at 17,918.47, while the S&P 500 fell 9.60 points, or 0.17%, to 5,699.94.

The muted sentiment on Wall Street reflected traders’ caution ahead of the Labor Department’s highly anticipated monthly jobs report scheduled for Friday.

The upcoming data is expected to shape the outlook for the U.S. economy and influence expectations for Federal Reserve interest‑rate cuts.

Markets also monitored escalating tensions in the Middle East, where heightened conflict has driven a sharp rise in crude‑oil prices.

Oil prices jumped sharply on Thursday amid Middle‑East tensions, as the conflict between Israel and Iran heightened supply‑disruption concerns. West Texas Intermediate crude for November rose $3.61, or 5.2%, to $73.71 a barrel.

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