The Malaysian stock market saw a strong rebound today, with the Composite Index (KLCI) successfully breaking through the 1,500 psychological barrier, hitting a new high in nearly three months.
The technology sector was the biggest gainer today, benefiting from the strong rebound in global tech stocks. The US Nasdaq index rose for three consecutive days, driving Asian tech stocks higher collectively.
Market analysts pointed out that investors' expectations for the Federal Reserve to possibly cut interest rates next year have strengthened, pushing up risk asset prices. At the same time, Malaysia's economic data continues to improve, also providing support for the stock market.
Today's trading volume reached 4.5 billion shares, the highest level in three months, indicating a significant increase in market participation. Foreign investors net bought RM250 million today, marking the fifth consecutive trading day of net inflows.
Looking ahead, analysts generally believe that if the KLCI can hold above 1,500 points, it is expected to further challenge the resistance level of 1,550 points. Investors should pay attention to the upcoming quarterly corporate earnings and global central bank monetary policy trends.