KUALA LUMPUR: BIMB Securities Research expects the local stock market to gain buying interest today, following a positive lead from Wall Street.
The research house expects the FBM KLCI to hover at around 1,630 - 1,640.
Overnight at Wall Street, markets closed higher as investors turned positive following the stabilisation in oil prices and high expectations for the Federal Reserve to hike rates.
The DJIA and S&P500 gained 0.90% and 1.06% respectively to end at 17,524.91 and 2,043.41.
Meanwhile in Europe, shares soared yesterday following the recovery in oil prices and positive data from the auto sector.
On the other hand, key regional markets were mixed ahead of the interest rate hike by the Fed. The FBMKLCI slipped 7.12 points or 0.44% to finish at 1,622.84.
Bursa’s market breadth was positive with 387 gainers against 386 losers while 389 counters were traded unchanged. TOPGLOV (+86sen), AJI (+62sen) and TAANN (+18sen) led the gainers. While BAT (-100sen), UTDPLT (-48) and GAB (-22sen) led the losers.
Trading participation shows net buying by local institutions and retail while foreign institutions were net sellers.
SET emerged as the top gainer, 2.60% up to close at 1,300.51 followed by JCI (+0.80%), TWSE (+0.41%), KOSPI (+0.27%), STI (+0.21). While N225 (-1.68%), PSEi (-0.66%), SCHOMP (-0.29%) and HSI (-0.17%) were the losers.
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