22.01.202603:55:19UTC+00Malaysia Shares Hit Over 7-Year High Ahead of Rate Decision

On Thursday afternoon, the FBM KLCI experienced a surge, climbing 10 points, or 0.6%, to reach 1,716. This upward movement marks the continuation of gains from the previous session, propelling the index to its highest point since February 2019. Investors are closely watching the interest rate decision expected later in the day. Market projections indicate that Bank Negara Malaysia will maintain its policy rate at 2.75% for the third consecutive meeting, despite December's inflation reaching its highest in 11 months. This comes even as the GDP growth for the fourth quarter shows the strongest performance since the second quarter of 2024. The broader index mirrored a rally seen on Wall Street on Wednesday, following US President Donald Trump's announcements at the World Economic Forum, where he signaled intentions to outline a deal on Greenland and eased off on imposing tariffs. Prominent sectors such as financials and technology posted gains, with notable early risers including Public Bank Bhd rising by 1.5%, CIMB Holdings by 1.0%, Maybank by 0.9%, RHB Capital Berhad by 0.8%, and Hong Leong Financial Group by 0.6%.