Malaysia's KLCI set for modest rise on tech rally and foreign inflows

The FBM KLCI is expected to trade between 1,710 and 1,740 in the coming weeks, supported by resilient corporate earnings and a steady flow of foreign capital. Analysts note that the August earnings season could boost sentiment if companies post results above expectations. Technology stocks led the recent market rally, jumping about 4.2%, while telecommunications and industrial products also posted gains. The broader market benefited from positive regional cues, including gains in Japan’s Nikkei and China’s Shanghai Composite, despite elevated U.S. Treasury yields and ongoing geopolitical tension in the Middle East that keep oil prices near US$88 a barrel. Investors will continue to watch U.S. labour data and any shifts in monetary policy for further market direction.