Malaysia’s main stock index experienced minimal movement, while other markets in the region responded with mixed reactions to the latest statements from the US Federal Reserve regarding interest rates.
During the midday trading session, the FBMKLCI saw a slight increase of 0.35 points, reaching 1,576.32. Meanwhile, the overall market displayed a varied performance, with 555 stocks declining, 413 gaining, and 476 remaining unchanged.
Trading activity remained moderate, with a total share turnover of 2.36 billion shares valued at RM1.45 billion.
Despite expectations that the US lending rate would remain unchanged, remarks from Fed Chair Jerome Powell indicating a reluctance to implement rate hikes contributed to positive sentiment among investors towards equities.
