FBM KLCI Slips Amid Profit-Taking as China Blue-Chips Surge on Stimulus
Bursa Malaysia closed lower on Friday due to profit-taking in heavyweight stocks, with the FBM KLCI falling by 11.23 points to 1,660.09. Decliners outnumbered gainers, and turnover dropped compared to the previous day.
Regionally, global stocks remained strong, supported by China’s large economic stimulus measures. China’s blue-chip stocks surged 4.5%, marking their best weekly gain since 2008.
Meanwhile, the Japanese yen strengthened after former defence minister Shigeru Ishiba won a leadership contest, signaling support for the Bank of Japan’s policy normalization.
European stocks also edged higher, while global stocks reached near-record highs.
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