The FBM KLCI closed marginally higher by 0.15% at 1485.30 points on Friday, though it registered a slight weekly decline. Investors remained cautious ahead of the Chinese New Year holidays, leading to subdued trading. Banking stocks showed resilience, while broader regional markets faced pressure, awaiting further economic data for direction.
The FBM KLCI showed resilience in Friday's trading session, edging up 2.23 points to close at 1485.30, despite a cumulative weekly decline of 0.3%. Market sentiment remained cautious ahead of the Chinese New Year holidays, resulting in relatively subdued trading volume, with a total turnover of approximately RM2.5 billion for the day. Analysts noted that while broader regional markets faced pressure, the Malaysian market demonstrated some resilience, supported by banking stocks. Blue-chip counters like Maybank and CIMB contributed significantly to the index's gains. Investors are closely monitoring upcoming macroeconomic data for clues on future market direction. Trading activity is expected to further slow down next week due to the holidays.
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