The FBM KLCI rose by 0.2%, recovering in the final hour of trading despite concerns about a potential economic slowdown following a drop in US consumer confidence data. While lower liners were weaker, the plantation sector performed well, gaining 1%.
The market is expected to consolidate, with the FBM KLCI remaining range-bound between 1,635 and 1,680. Selling pressure from foreign investors may limit gains from local funds. Volatility is likely to persist due to a lack of fresh catalysts.
Lower liners are also expected to soften due to weaker sentiment. Investors will focus on key economic data, including Malaysia’s PPI and the US Q2 GDP. Moving forward, the REIT sector may gain traction due to its defensive nature, while the consumer discretionary sector looks appealing, supported by a stronger Ringgit and upcoming salary adjustments for civil servants.
Paris Baguette Malaysia is now fully integrated under Singapore HQ, enhancing operations and regional strategy…
Malaysian enterprises must modernize infrastructure strategically to harness AI, enhancing resilience and reducing costs effectively.
Vertiv opened its Johor manufacturing facility to expand AI infrastructure production, strengthen regional supply chains,…
Malaysia's manufacturing sector returned to expansion in June as stronger orders and production lifted PMI…
Southern Cable secured a RM403.6 million TNB contract extension, lifting its order book above RM1…
Malaysia's benchmark index fell for a third session as cautious sentiment ahead of US payrolls…
This website uses cookies.