KUALA LUMPUR (Sept 2): The FBM KLCI rose 1.24 points or 0.1%, while the ringgit weakened ahead of release of the U.S.' employment data today.

The employment data is deemed a crucial indicator of the U.S.' interest rate direction, which could affect world markets.
 
At 5 p.m., the KLCI settled at 1,671.79 points, following tortuous intraday trades. The KLCI had earlier fallen to its intraday low at 1,668.87 points.

In currency markets, the ringgit weakened to 4.0845 against the U.S. dollar, after trading between 4.0795 and 4.0935 today.

Reuters reported Asian stock markets wobbled and the dollar was on the defensive on Friday, as investors awaited U.S. jobs data later in the day, which could give clues on whether the Federal Reserve will raise interest rates as soon as this month.

In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com that all eyes are on the U.S. employment numbers.

“Investors stayed on the sideline today and the past few days, as sentiment was being weighed down by the uncertainty of a U.S. interest rate hike, ahead of the release tonight, as the data is widely seen as an important indicator of the Federal Reserve's (Fed) decision.

“It is better if the Fed could provide a date or perhaps more clarity, rather than pinching the market’s nerve,” Wong said.

Bursa Malaysia saw a trading volume of 1.43 billion shares, worth RM1.53 billion. There were 469 gainers, versus 327 decliners.

Top gainer was Dutch Lady Milk Industries Bhd, while the biggest decliner was TAHPS Group Bhd.

AirAsia X Bhd was the most active counter, with some 50 million shares exchanging hands.

Meanwhile, shares of export-based rubber glove manufacturers, Top Glove Corp Bhd and Kossan Rubber Industries Bhd, were among top gainers, as these companies were seen gaining from a weaker ringgit.

Top Glove rose 22 sen to RM4.60, while Kossan climbed 17 sen to RM6.60 to become the third and fourth-largest gainers, respectively.