Driven by China's economic recovery and a global tech stock rebound, Hong Kong's Hang Seng Index and Singapore's Straits Times Index rose by 1.5% and 1.0% respectively this week. The positive regional market performance provided external support for the Malaysian stock market.
This week, Southeast Asian and broader Asian markets generally presented a positive trend, providing a favorable external environment for the Malaysian stock market. Hong Kong's Hang Seng Index (HSI) recorded a 1.5% gain, closing at 16,850 points, primarily benefiting from better-than-expected economic data from China and a rebound in technology giants' stock prices. Singapore's Straits Times Index (STI) also performed strongly, rising 1.0% to 3,250 points, driven by banking stocks and Real Estate Investment Trusts (REITs). In the US market, despite cooling expectations for Federal Reserve rate cuts, the resilience of technology stocks continued to support the Nasdaq index. This regional and global optimism, particularly confidence in technology and export-oriented economies, positively influenced Malaysian investor sentiment, leading to capital inflows into the local market.
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