The KLCI traded slightly above the 1,500 psychological level, gaining 0.15%, primarily driven by financial heavyweights. However, the Technology Index faced pressure, dropping 1.2% following weakness in the Nasdaq overnight.
The FTSE Bursa Malaysia KLCI (FBM KLCI) closed up 2.25 points, settling at 1501.88, maintaining its position above the critical 1,500 level. Market sentiment remained cautious with trading volume slightly below average. The main support came from financial heavyweights, with Malayan Banking Bhd (Maybank) rising 0.8% to RM9.25 and CIMB Group Holdings Bhd gaining 1.1% to RM6.40. Conversely, the technology sector lagged, with the Bursa Malaysia Technology Index dropping 1.2%, pressured by renewed concerns over US interest rate hikes. Investors are keenly awaiting next week's Purchasing Managers' Index (PMI) data for further clues on the pace of economic recovery.
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