The Kuala Lumpur Composite Index (KLCI) rose 0.85% today, breaching the 1520-point level, driven by improved global sentiment and robust local institutional buying. Banking and plantation counters were among the top performers, contributing significantly to the index's upward trajectory, signaling renewed investor confidence in the Malaysian market.
The Kuala Lumpur Composite Index (KLCI) demonstrated a strong performance today, closing up 12.9 points, or 0.85%, at 1523.5 points. This rally was primarily attributed to an improvement in global market sentiment, coupled with aggressive buying from local institutional investors in key blue-chip stocks. Banking counters, such as Maybank, which rose 1.5%, and plantation stocks like Sime Darby Plantation, gaining 2.2%, were significant drivers of the index's ascent. Market volume also saw a notable increase, indicating renewed investor interest. Analysts anticipate that if global economic data continues to be favorable, the KLCI could challenge the 1530-point resistance level in the short term, maintaining its positive momentum.
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