PUTRAJAYA: Graft investigators have searched the house of FashionValet founders Datin Vivy Yusof and Datuk Fadzaruddin Shah Anuar and frozen several of their accounts with RM1.1mil in funds.
KUALA LUMPUR: The FBM KLCI rose in early Friday trade, following gains on Wall Street after the US Federal Reserve announced a 25-basis-point interest rate cut.
Overnight, the S&P 500 gained 44.06 points, or 0.74%, to 5,973.10 and the Nasdaq Composite gained 285.99 points, or 1.51%, to 19,269.46. The Dow Jones Industrial Average fell 0.59 point, or flat, to 43,729.34 Also, the interest rate spread between the US and Malaysia may support the ringgit, albeit at a more moderate pace.
“Besides, as we approach earnings season, we believe that earlier data center projects will begin contributing to earnings. As a result, we expect sectors such as construction, building materials, and property to perform well in the near term,” Malacca Securities said.
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