The KLCI index rose 0.35% on Friday, closing at 1,515.20 points. Banking stocks showed strong performance, notably Maybank and CIMB, but overall trading volume remained subdued as investors exercised caution ahead of key economic data releases.
The FBM KLCI gained 5.30 points on Friday, closing the week at 1,515.20, marking a modest weekly gain of 0.8%. The primary impetus came from the financial sector, with Malayan Banking Bhd (Maybank) rising 1.2% to RM9.40 and CIMB Group Holdings Bhd increasing 0.8% to RM6.35. Analysts noted that while sentiment improved slightly due to rising expectations of US rate cuts later this year, overall trading volume remained thin, suggesting cautious positioning among institutional investors. Key resistance remains at the 1,525 level, with support firmly placed at 1,500. Market focus this week will be on regional macroeconomic indicators and crude oil price movements, which heavily influence energy counters.
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