Malaysia Stock Market Has Positive Lead

The Malaysia stock market has finished higher in seven straight sessions, gathering almost 75 points or 4.9 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,600-point plateau and it's looking at another green light for Thursday's trade.

The global forecast for the Asian markets is cautiously optimistic on easing concerns for the outlook for interest rates. The European markets were up and the U.S. bourses were mostly higher and the Asian markets are also tipped to open in the green.

The KLCI finished sharply higher on Wednesday following gains from the financial shares, telecoms and plantations.

For the day, the index jumped 16.47 points or 1.04 percent to finish at the daily high of 1,600.38 after moving as low as 1,581.81. Volume was 4.487 billion shares worth 3.337 billion ringgit. There were 577 gainers and 460 decliners.

Among the actives, CIMB Group rallied 1.76 percent, while Dialog Group surged 4.20 percent, Digi.com spiked 3.22 percent, Genting rose 0.38 percent, Genting Malaysia and Tenaga Nasional both improved 0.31 percent, Hartalega Holdings climbed 1.68 percent, IHH Healthcare gained 0.60 percent, IOI Corporation advanced 0.99 percent, Kuala Lumpur Kepong increased 0.35 percent, Maybank added 0.73 percent, Maxis gathered 1.50 percent, MISC jumped 3.04 percent, MRDIY perked1.37 percent, PPB Group was up 0.2 percent, Press Metal dipped 0.16 percent, Public Bank collected 0.72 percent, RHB Capital accelerated 3.06 percent, Sime Darby soared 3.95 percent, Sime Darby Plantations skyrocketed 4.46 percent, Telekom Malaysia sank 0.84 percent, Top Glove tumbled 1.41 percent and Axiata and Petronas Chemicals were unchanged.

The lead from Wall Street is mostly upbeat as the NASDAQ opened higher and remained solidly in the green. The Dow and S&P spent much of the day in negative territory, with the later managing to climb into positive territory and the former closing just under the line.

The Dow eased 0.53 points to finish at 34,377.81, while the NASDAQ jumped 105.71 points or 0.73 percent to close at 14,571.63 and the S&P 500 rose 13.15 points or 0.30 percent to end at 4,363.80.

The higher close on Wall Street came as a report from the Labor Department showed consumer prices rose by slightly more than expected in September, but the data was not seen as likely to accelerate the Federal Reserve's tapering plans.

Also, the minutes of the Fed's September meeting outlined the central bank's plans to gradually scale back its asset purchases. Participants generally agreed that a gradual tapering of asset purchases that concludes around the middle of next year would likely be appropriate if the economic recovery remained broadly on track.

Crude oil prices drifted lower on Wednesday, weighed down by concerns the slowdown in global economic growth could weaken the outlook for energy demand. West Texas Intermediate Crude oil futures for November eased $0.20 or 0.3 percent at $80.44 a barrel.

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