Positive performances in Singapore and Hong Kong stock markets bolstered regional sentiment, positively influencing the Kuala Lumpur Composite Index (KLCI), particularly in the technology and financial sectors.
Positive performances in major Southeast Asian and North Asian stock markets injected optimism into the Malaysian market on Friday. Singapore's Straits Times Index gained 0.8%, while Hong Kong's Hang Seng Index surged 1.2%, primarily driven by China's economic stimulus measures and a rebound in tech stocks. This regional positive sentiment had a spillover effect on the Kuala Lumpur Composite Index (KLCI), especially in the financial and technology sectors which are closely tied to regional economic health. Increased investor confidence in regional economic recovery led to buying interest in export-oriented and cyclical stocks. Analysts noted that despite lingering global economic uncertainties, the resilience of intra-Asian trade and investment, coupled with China's gradual economic stabilization, provided significant support for regional equities. However, potential US interest rate paths and geopolitical risks remain external factors to monitor.
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