The FBM KLCI gained +0.14% after bargain hunting, with the Energy sector (+0.8%) leading due to rising oil prices amid Middle East tensions, while the Technology sector (-1.3%) lagged. Global markets faced declines, with US and European stocks down due to higher-than-expected jobless claims and concerns over the Middle East. In Asia, Japan’s market rose, but Hong Kong saw profit-taking.
Local Market
Looking ahead, the local market is expected to trade sideways as investors await US unemployment data. The Energy sector is likely to continue outperforming, driven by oil price increases amid supply concerns.
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