The FBM KLCI rose 0.45% to 1488.23 points on Thursday, primarily supported by banking counters. Investor optimism ahead of the corporate earnings season boosted market sentiment, with positive regional cues also playing a role in the day's gains.
The Kuala Lumpur Composite Index (KLCI) closed 0.45% higher on Thursday, settling at 1488.23 points, extending its upward trend for the week. Market volume remained active, with 3.85 billion shares traded. The banking sector was a standout performer, with Maybank rising 1.2% to RM9.35 and CIMB gaining 1.5% to RM6.48. Analysts noted that market sentiment was buoyed by optimistic expectations for the upcoming corporate earnings season, alongside positive cues from regional markets which provided additional support for local equities. Investors are closely monitoring global economic data and the direction of the US Federal Reserve's monetary policy for further market catalysts. The KLCI is expected to trade within the 1480 to 1500 range in the short term.
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