The FBM KLCI closed marginally higher by 0.15% at 1548.75 points on Monday. Strong performance from banking counters offset declines in energy and technology stocks. Investors remained cautious ahead of upcoming economic data releases, contributing to a mixed market sentiment.
The FBM KLCI closed marginally higher on Monday, gaining 2.32 points to settle at 1548.75. Market sentiment was mixed, with a total of 3.8 billion shares worth RM2.5 billion traded. Banking stocks were the primary drivers, with Maybank rising 0.5% to RM9.45 and Hong Leong Bank increasing 0.8% to RM19.80. However, the gains were partially capped by weakness in energy and technology counters, as Tenaga Nasional fell 0.3% to RM11.20 and Frontken Corp declined 1.2% to RM3.25. Analysts noted that despite a lacklustre performance in regional markets, sustained interest from local institutional investors in the banking sector provided support for the KLCI. Investors are now keenly awaiting Malaysia's manufacturing PMI data later this week for further cues on economic recovery.
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