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The FBM KLCI declined by 0.5%, marking six consecutive sessions of losses, mainly driven by declines in Utilities and Energy. Only Consumer and Plantation sectors closed positive.
Globally, US and European markets ended higher as investors anticipate corporate earnings and economic data, while most Asian markets also gained, led by Japan’s Nikkei after election results reduced fears of aggressive rate policies.
Locally, sentiment is pressured by foreign outflows, though some bargain hunting may arise from Wall Street’s gains.
Investors are watching US employment data and corporate earnings, with the Energy sector facing pressure from stable oil prices. Construction remains the preferred sector due to progress in local projects.
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