Banking and technology sectors showed strong performance on Friday, driving the KLCI higher. However, the property sector faced headwinds, exhibiting weaker performance due to persistent high interest rates and rising construction costs, impacting investor sentiment and demand.
Malaysia's stock market displayed a bifurcated trend on Friday, with the banking and technology sectors emerging as market highlights. The rise in banking stocks, such as Maybank and CIMB, reflected market confidence in financial stability and future earnings growth. The technology sector benefited from expectations of a global semiconductor cycle recovery. However, the property sector underperformed, with several major developers seeing their share prices decline, such as Sime Darby Property which fell 0.5%. The persistent high-interest rate environment and rising construction material costs pose significant challenges to the sector, leading to cautious buyer sentiment and squeezed project margins. Analysts anticipate continued pressure on the property sector in the short term.
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