The Malaysia stock market on Friday halted the three-day slide in which it had stumbled more than 55 points or 3.2 percent. The Kuala Lumpur Composite Index now rests just above the 1m555-point plateau, and it may add to its winnings on Monday.
The global forecast for the Asian markets is firm following strong employment data from the United States. The European and U.S. bourses were up and the Asian markets are expected to open in similar fashion.
The KLCI finished modestly higher on Friday as gains from the financials and telecoms were tempered by weakness from the plantations.
For the day, the index climbed 15.76 points or 0.91 percent to finish at 1,756.38 after trading between 1,737.72 and 1,760.46. Volume was 2.9 billion shares worth 2.8 billion ringgit. There were 560 gainers and 377 decliners.
Among the actives, MISC surged 5.45 percent, while Maybank soared 3.93 percent, CIMB Group spiked 3.39 percent, Digi.com jumped 1.36 percent, Genting climbed 1.25 percent, YTL Corporation advanced 1.05 percent, Petronas Chemicals perked 0.99 percent, Axiata was up 0.92 percent, Tenaga Nasional added 0.69 percent, Genting Malaysia gained 0.60 percent, Public Bank collected 0.59 percent, Telekom Malaysia picked up 0.54 percent, Sime Darby rose 0.41 percent, IOI Corporation lost 0.22 percent, IOI Corporation fell 0.16 percent and IHH Healthcare was unchanged.
The lead from Wall Street is broadly positive as stocks showed a strong move to the upside on Friday as traders reacted to upbeat employment data – allowing the NASDAQ to hit its best closing level in two months.
The Dow added 219.37 points or 0.90 percent to 24,635.21, the Nasdaq spiked 112.21 points or 1.51 percent to 7,554.33 and the S&P surged 29.35 points or 1.08 percent to 2,734.62. For the week, the Dow fell 0.5 percent, the NASDAQ jumped 1.6 percent