Business News

Banks Drive FBM KLCI Higher as Global Markets Stay Supportive

Banks lifted the FBM KLCI as global markets rose on softer US data, while investors stayed cautious amid Fed uncertainty, geopolitics, and mixed sector performance across Asian bourses regionally.

Malaysian equities ended the week on a stronger footing, with the FBM KLCI rising 1.02% to 1,686.54, supported mainly by gains in heavyweight banking stocks. Market breadth was positive as advancers outnumbered decliners, reflecting improved risk appetite following firmer regional cues. Technology, Finance and Energy led sectoral gains, while Property, Construction and Utilities lagged slightly.

KLCI Higher

Globally, sentiment improved after US nonfarm payrolls came in softer than expected, reinforcing expectations that the Federal Reserve could move toward policy easing. Wall Street closed higher across all major indices, while European markets followed suit. Asian equities also advanced, led by Japan’s Nikkei.

Looking ahead, Malaysian equities are likely to trade within a range as investors balance easing rate expectations against lingering geopolitical risks. Policy uncertainty surrounding US foreign strategies and Middle East tensions may continue to cap upside, keeping sentiment selective rather than outright bullish.

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