The FBM KLCI advanced 0.54% to close at 1,757 on Wednesday, supported by improving investor sentiment following easing tensions in West Asia. Market breadth turned positive with 795 gainers against 493 decliners. Technology (+3.12%), Construction (+2.55%) and Utilities (+2.15%) led the gains, while Healthcare (-0.93%), Energy (-0.46%) and Plantation (-0.44%) lagged.
Investor sentiment
Global equities rallied as easing geopolitical concerns boosted risk appetite. Wall Street climbed to fresh highs, led by the Nasdaq (+2.02%) and S&P 500 (+1.46%), amid renewed strength in semiconductor stocks and reports of potential progress in US-Iran negotiations. Oil prices retreated sharply, easing inflation concerns and improving sentiment across major markets.
Locally, the KLCI’s breakout above its symmetrical triangle formation signals further upside towards 1,777 after extending gains for a third straight session. Immediate support is seen at 1,735. Technology remains favoured, while Energy and Plantation stay supported by commodity-linked developments.
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