FBM KLCI climbs to four-month high on optimism

UOB Kay Hian Wealth Advisors' Mohd Sedek said the prospect of US monetary easing has directly influenced sectoral performance on Bursa Malaysia.

KUALA LUMPUR: Bursa Malaysia extended its winning streak to seven consecutive sessions, with the FBM KLCI closing at a four-month high, driven by US July inflation data that came in slightly below expectations at 2.7%, boosting hopes of a Federal Reserve (Fed) rate cut in September.

At 5pm, the FBM KLCI jumped 18.70 points, or 1.19%, to close at 1,586.60 from yesterday’s close of 1,567.90.