FBM KLCI rises on dovish Fed remarks, ahead of BNM OPR

KUALA LUMPUR: The FBM KLCI continued its rally as Wall Street stocks continued to pile on gains following dovish remarks from the Federal Reserve chair.

"In the US, comments from Jerome Powell in the two-day testimony, where he expressed concerns that the higher-for-longer interest rate environment may slow down the economic growth, have boosted appetite in the stock markets," said Malacca Securities Research in its market review.