Weak U.S. Jobs Data Lifts Fed Pause Hopes

KUALA LUMPUR, Oct 5 — The FBM KLCI closed marginally higher on Friday, edging up 0.51 points, or 0.03%, to 1,630.87 from 1,630.36 the previous day. Market breadth turned positive, with 585 gainers against 541 losers, as valuations became more attractive following recent sell-offs.

Technology (+2.32%) and Telecommunications & Media (+1.53%) led the gainers, while Energy (-0.24%) and Construction (-0.20%) were the main laggards. Analysts said investors remain defensive amid elevated bond yields and crude oil prices, though selective accumulation is expected.

Jobs Data

Technical indicators suggest the broader outlook remains weak, with the index still capped by a descending trendline. Immediate support lies at 1,625, while resistance is seen at 1,650–1,660. A decisive break below 1,625 could expose the benchmark to further downside toward 1,600.

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