Amidst a lack of fresh catalysts, Malaysia’s benchmark stock index relinquished earlier gains during the lead-up to the midday break. As trading paused, the FBMKLCI edged down by 0.35 points to 1,605.33, having fluctuated within a range of 1,603.29 and 1,610.25. Investor sentiment remained uncertain, resulting in sideways movement in the index.
The broader market followed suit, with 531 stocks witnessing selling pressure, while 464 stocks were bought, leaving 473 unchanged. The total share turnover amounted to 3.5 billion valued at RM1.7 billion.
The recent rally in Malaysia’s main index, fueled by the return of foreign funds and anticipation of interest rate reductions by the US Federal Reserve later this year, has seen a surge over the past three weeks.
