The Kuala Lumpur Composite Index (KLCI) closed 0.35% higher on Friday at 1,528.45 points, buoyed by positive sentiment in the banking and technology sectors. Investors remained optimistic about corporate earnings prospects, driving market sentiment despite regional cautiousness. Volume was moderate as traders squared positions ahead of the weekend.
The Kuala Lumpur Composite Index (KLCI) showed a robust performance in Friday's trading, closing up 5.35 points at 1,528.45. Banking giants like Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd led the gains, while technology stocks also saw a boost amid expectations of a rebound in global semiconductor demand. Total trading volume for the day reached 3.2 billion shares, valued at RM2.8 billion. Despite cautious regional market performances, local investors maintained confidence in Malaysia's economic recovery, anticipating strong corporate earnings reports. Market analysts noted that the KLCI found strong support above 1,520 points and is poised for further upside in the short term, driven by domestic institutional buying.
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