The KLCI ended Friday 0.45% higher at 1,532.89 points, buoyed by strong performance in banking stocks. Investor optimism over corporate earnings prospects drove positive market sentiment. Total trading volume reached 4.2 billion shares.
The Kuala Lumpur Composite Index (KLCI) closed 0.45% higher on Friday, settling at 1,532.89 points, reversing earlier losses. The banking sector was a significant contributor, with Malayan Banking Bhd (Maybank) rising 1.2% to RM9.25 and CIMB Group Holdings Bhd gaining 0.9% to RM6.55. Analysts noted that market sentiment was bolstered by positive regional market performances and improved domestic corporate earnings expectations. Despite strong US jobs data potentially influencing the timing of Federal Reserve rate cuts, local investors remained focused on domestic fundamentals. Total trading volume for the day reached a robust 4.2 billion shares, indicating active market participation.
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