All eyes on Fed

An analyst with a local brokerage tells StarBiz 7 that the late-week rally shows investors are positioning themselves ahead of the Fed’s rate decision.

AFTER a week of volatility, the Malaysian equity market ended on a more positive note yesterday. The modest rally came amid a flurry of global economic developments, with investors awaiting the US Federal Reserve’s (Fed) highly anticipated interest-rate cut in the week ahead.

The FBM KLCI closed at 1,652.15 yesterday, up 13.84 points from a day earlier, as solid gains on Wall Street and stabilising sentiment across Asian markets lifted investor confidence.