The Kuala Lumpur Composite Index (KLCI) closed down 0.45% at 1,542.30 points on Monday, dragged by cautious regional sentiment and a pullback in banking stocks. Investors remain wary about the timing of the US Federal Reserve's interest rate cuts.
The Kuala Lumpur Composite Index (KLCI) closed down 6.94 points, or 0.45%, at 1,542.30 points on Monday, reflecting a cautious sentiment prevalent across Asian markets. Trading volume stood at 3.85 billion shares valued at RM2.73 billion. Banking stocks were the primary drag, with Maybank and CIMB experiencing notable declines. Regional markets were subdued due to ongoing uncertainties surrounding the timing of interest rate cuts by the US Federal Reserve. Analysts noted that while local economic fundamentals remain robust, global macroeconomic factors continue to be a key driver of market sentiment. The KLCI is expected to trade within a range of 1,530 to 1,550 points in the near term, awaiting fresh catalysts.
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