KUALA LUMPUR (Aug 7): Malaysian shares may today take the cue from US share gains on Friday as stronger-than-expected US employment numbers lead to expectation of faster interest rate hikes there.

Investors closely watch US interest rate movements, which influence global fund flow and share-trade dynamics.

Last Friday, the FBM KLCI rose 2.63 points or 0.1% to close at 1,774.53 points. The ringgit strengthened to 4.2782 against the US  dollar.

In the US, Reuters reported that the Dow Jones Industrial Average rose 0.3% to end at 22,092.81 points, an all-time high. The S&P 500 gained 0.19% to 2,476.83 points and the Nasdaq Composite added 0.18% to 6,351.56 points.

It was reported that the Dow Jones Industrial Average ended at its eighth straight record high on Friday, with gains in JPMorgan Chase and other banks after data showed US employers hired more workers than expected in July. The Labor Department said nonfarm payrolls increased by 209,000 jobs last month, above the 183,000 rise expected by economists polled by Reuters.

In Malaysia today, investors may also take the cue from the ongoing corporate financial reporting season as Bursa Malaysia-listed companies announce their April-to-June quarterly earnings.

The financial reporting season had started in July although most companies annnounce their quarterly numbers in August.