KLCI is expected to remain under pressure following Wall Street losses

The FBM KLCI closed the week down by 0.7%, reflecting weak global market sentiment, with Construction and Energy sectors leading the losses. Global markets also faced declines: US stocks dropped due to disappointing August jobs data, raising economic slowdown concerns, while European and Asian markets were weighed down by weak technology, mining stocks, and poor household spending data in Japan.

Under pressure KLCI

Looking ahead, the KLCI is expected to remain under pressure, following Wall Street‘s sharp losses. Investors are advised to stay defensive and focus on fundamentally strong stocks amid volatility. Given weaker job growth, gold-related stocks are preferred, anticipating a possible rate cut in upcoming central bank meetings, while the technology sector may face a pullback.

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Staff Writer

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