Asian stock markets largely rose, buoyed by a strong rebound in US technology stocks on Wall Street. Malaysia's KLCI also gained, closing up 0.8%, as investors adopted a more optimistic outlook on the global economic prospects. Regional indices like Singapore's STI and Hong Kong's HSI also saw gains.
Asian stock markets broadly advanced on Friday, buoyed by a strong overnight rebound in US technology giants on Wall Street, which significantly lifted regional sentiment. Malaysia's Kuala Lumpur Composite Index (KLCI) also benefited from this positive spillover, closing up 0.8% at 1585.30 points. Singapore's Straits Times Index (STI) gained 0.7%, while Hong Kong's Hang Seng Index (HSI) surged an impressive 1.5%. Investors demonstrated increased confidence in the global economic outlook, particularly concerning the recovery of the technology sector. Recent positive economic data from the US, including better-than-expected manufacturing PMI, further supported market sentiment. Analysts highlighted the growing interconnectedness among major global economies, with the performance of the US market serving as a crucial indicator for Asia, especially for export-oriented economies like Malaysia.
Share: