Malaysia Bourse May Add To Its Winnings On Monday

(RTTNews) - The Malaysia stock market has moved higher in back-to-back sessions, collecting almost 15 points or 1 percent along the way. The Kuala Lumpur Composite Index now sits just beneath the 1,450-point plateau and it's tipped to see additional support on Monday.

The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

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

For the day, the index improved 10.16 points or 0.71 percent to finish at 1,449.93 after trading between 1,444.79 and 1,453.19.

Among the actives, Axiata surged 2.62 percent, while Celcomdigi and Tenaga Nasional both rose 0.71 percent, CIMB Group perked 0.53 percent, Dialog Group accelerated 1.92 percent, Genting soared 2.22 percent, Genting Malaysia rallied 1.65 percent, IHH Healthcare increased 0.17 percent, IOI Corporation added 0.76 percent, Maxis gained 0.75 percent, Maybank was up 0.22 percent, MISC improved 1.25 percent, MRDIY climbed 1.33 percent, Petronas Chemicals advanced 0.84 percent, PPB Group jumped 1.73 percent, Press Metal increased 1.03 percent, Public Bank collected 0.24 percent, RHB Capital rose 0.18 percent, Sime Darby spiked 2.18 percent, Sime Darby Plantations strengthened 1.62 percent, Telekom Malaysia gathered 0.59 percent, Westports Holdings slumped 1.19 percent and Kuala Lumpur Kepong was unchanged.

The lead from Wall Street is broadly positive as the major averages opened higher on Friday and remained in the green throughout the session.

The Dow surged 222.22 points or 0.66 percent to finish at 34,061.32, while the NASDAQ jumped 184.08 points or 1.38 percent to end at 13,478.28 and the S&P 600 gained 40.56 points or 0.95 percent to close at 4,358.34.

For the week, the NASDAQ skyrocketed 6.6 percent, the S&P 500 soared 5.9 percent and the Dow spiked 5.1 percent.

The continued strength on Wall Street reflected a positive reaction to a Labor Department report showing U.S. employment rose less than expected in October.

The data added to optimism the Federal Reserve is done raising interest rates after the central bank left rates unchanged for the third time in four meetings last week.

Treasury yields also extended a recent slump following the release of the report, adding to the buying interest on Wall Street.

Crude oil moved sharply lower on Friday on worries about the outlook for energy demand. West Texas Intermediate for December delivery tumbled $1.95 or 2.4 percent to $80.51 a barrel.