Additional Support Expected For Malaysia Stock Market

The Malaysia stock market has finished higher in two of three trading days since the end of the two-day slide in which it had stumbled almost 30 points or 1.8 percent. The Kuala Lumpur Composite Index now rests just above the 1,615-point plateau and it’s looking at another green light again on Friday.

The global forecast for the Asian markets is broadly positive as markets continue to recover from recent heavy selling thanks to solid economic data and a surge in crude oil prices. The European and U.S. markets were sharply higher and the Asian bourses are tipped to follow suit.

The KLCI finished modestly higher on Thursday following gains from the financial shares, plantation stocks and industrials.

For the day, the index advanced 11.32 points or 0.71 percent to finish at 1,616.02 after trading between 1,605.84 and 1,620.65. Volume was 2.1 billion shares worth 1.5 billion ringgit. There were 520 gainers and 285 decliners.

Among the actives, Sime Darby Plantations surged 4.68 percent, while Press Metal soared 2.34 percent, Axiata spiked 2.25 percent, RHB Capital accelerated 2.20 percent, IOI Corporation jumped 2.15 percent, Genting Malaysia climbed 1.57 percent, Sime Darby gathered 0.93 percent, Hartalega Holdings dropped 0.79 percent, Public Bank collected 0.66 percent, Top Glove sank 0.66 percent, Dialog Group perked 0.59 percent, Genting advanced 0.49 percent, added 0.40 percent, Kuala Lumpur Kepong gained 0.34 percent, Maybank rose 0.23 percent, Petronas Chemicals was up 0.14 percent and Hong Leong Financial, Hap Seng Consolidated, CIMB Group, IHH Healthcare, Tenaga Nasional and MISC all were unchanged.

The lead from Wall Street is upbeat as stocks opened higher on Thursday and stayed that way throughout the session, accelerating into the close.

The Dow climbed 371.12 points or 1.43 percent to 26,378.19, while the NASDAQ jumped 176.33 points or 2.24 percent to

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