The Kuala Lumpur Composite Index (KLCI) rose 0.85% to close at 1,505.20 points today, breaching the 1,500 mark for the first time this year. Strong performance from banking and technology counters fueled investor optimism, indicating a positive market sentiment heading into the weekend.
The Kuala Lumpur Composite Index (KLCI) demonstrated robust performance today, gaining 12.79 points or 0.85% to close at 1,505.20, successfully breaching the crucial 1,500 psychological barrier. This breakthrough was primarily driven by the solid performance of banking giants such as Maybank and CIMB, alongside the sustained growth momentum in the technology sector. Market analysts noted that investor sentiment has significantly improved, propelled by a general uptrend in regional markets and optimistic domestic economic recovery forecasts. Trading volume remained active today, indicating strong buying interest. The KLCI is expected to consolidate above the 1,500 level in the short term and may further challenge the 1,520 resistance level.
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