The KLCI closed marginally higher by 0.15% at 1552.30 points on Friday, buoyed by banking stocks, but recorded a weekly decline of 0.8%. Investors remained cautious amidst global economic uncertainties, influencing broader market sentiment.
The Kuala Lumpur Composite Index (KLCI) closed marginally higher by 2.33 points or 0.15% on Friday, settling at 1552.30 points, primarily supported by banking stocks. However, the index posted a weekly decline of 0.8% as investors remained cautious about a slowing global economy and the timing of potential US Federal Reserve interest rate cuts. Trading volume was relatively subdued, with approximately 3.5 billion shares traded throughout the day. Analysts noted that despite some blue-chip counters showing resilience, overall market sentiment remains wary. The market is expected to continue being influenced by external factors and upcoming corporate earnings reports next week.
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