The FBM KLCI fell by 0.7%, diverging from gains in regional markets due to Middle East geopolitical tensions. The Energy sector rose 4.1% thanks to rising oil prices, while the Telecommunication sector dropped 1.8%.
Globally, US stocks soared, with the Dow reaching a new record following a strong September jobs report, signaling economic resilience. European markets rose 0.5%, and most Asian markets, including Hong Kong’s Hang Seng Index (+2.8%), posted gains.
Looking ahead, a rebound in the local bourse is expected, driven by positive sentiment from the strong US jobs report. Focus will shift to the US inflation data, FOMC minutes, and China’s market re-opening, with the technology sector likely to outperform.
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