Soft US jobs data lifts Asian stocks and the ringgit on Monday as Fed rate-rise bets fade
Most Asian markets rallied on Monday after the weak US payrolls figure (Qatar Tribune, Kuwait Times). The CME FedWatch tool put the chance of a Fed hike this month at just over 20%, from above 65% early last week. The ringgit opened at 4.0805, higher than Friday’s 4.0820 (The Star, Malay Mail, Bernama). The KLCI closed 0.88 point higher. Bank Negara’s 5pm rate was 4.085/4.090.
Lower odds of a US rate rise ease pressure on emerging-market currencies and stocks.
A softer dollar helps if you buy imports or travel, but Monday’s gain faded at the close on Bank Negara’s rate.
Weak US data supports Asian assets.
It also shows US growth weakening, which could cut demand for exports.
The ringgit gave back its early gain, so it is a small move. US inflation data later this week is the next test.
DailyDrop Malaysia edition No. 2 · Morning · TUE., OCT. 6, 2026