Electric Tower in Malaysia - Photo: Business News Malaysia
FBM KLCI: Dropped by -0.9%, marking five consecutive declines, with Utilities and Telecom sectors leading the losses.
Market Outlook: Local sentiment is under pressure due to foreign fund outflows to China. Bargain hunting may occur, though caution persists as investors await U.S. employment data and earnings reports. The Construction sector is expected to outperform due to local projects, the Energy sector may rebound with recovering oil prices, while the Plantation sector could see profit-taking due to weaker CPO and soybean prices.
Global Markets: U.S. markets were mixed, with the Nasdaq up and the Dow down. European markets closed slightly lower, while most Asian markets saw gains, led by China and Hong Kong.
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