Velesto Energy: A Rising Star in Malaysia's Oil & Gas Industry - Photo Velesto
China. As for the FBM KLCI, after a couple of days consolidating, we believe the benchmark
index to reverse its direction and expect it to hover between the 1,610-1,620 range today attributed to
bargain hunting activities.
Again, outlook for corporate Malaysia is improving premised on the broad-based upward revision in earnings growth to 8.2% for 2025 following a respectable 16.1% growth for this year.
Meanwhile, crude oil prices rebounded as the Brent crude price trends closer to US$85/barrel underpinned by
improving demand outlook.
FBM KLCI closed lower amid ongoing cautious sentiment ahead of the long holiday. The benchmark index was down 0.18% or 2.85 pts to close at 1,607.32.
Majority of sectors were negative with energy (-2.4%), technology (-1.6%), and construction (-0.9%) leading the losses; while gainers were seen in transportation (+0.5%), and financial services (+0.1%). Market breadth was negative with 677 losers against 561 gainers. Total volume stood at 5.64bn shares valued at RM3.92bn.
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