The Kuala Lumpur Composite Index (KLCI) successfully erased earlier losses in afternoon trading, closing up 0.35%. Investor confidence was bolstered by positive regional market performance, with technology and financial stocks leading the gains. Global sentiment improved, providing tailwinds for the local bourse.
The Kuala Lumpur Composite Index (KLCI) closed up 5.65 points today at 1,515.20, reversing earlier declines that followed an overnight dip on Wall Street. Trading volume reached 3.85 billion shares valued at RM2.78 billion. Key drivers included technology stocks, with Inari Amertron rising 1.5%, and solid performances from financial giants Maybank and CIMB. Positive openings in regional markets, particularly Singapore and Hong Kong, provided support for the local bourse. Analysts noted that despite lingering global economic uncertainties, expectations of a Fed rate hike pause and signs of China's economic recovery are gradually boosting investor sentiment.
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