ZLBT Morning Views >>> BURSA MALAYSIA

KL Stocks To Rise On Wall St. Overnight Gains
The Malaysian stock market has finished higher in two of three trading days since the end of the two-day losing streak in which it had retreated more than a dozen points or 0.8 percent. The Kuala Lumpur Composite Index finished just above the 1,530-point plateau, and now investors are anticipating continued support at the opening of trade on Thursday.

The global forecast for the Asian markets is broadly positive on solid earnings news and economic data. Technology stocks are expected to fuel the rally, along with energy producers - while financial shares could see some consolidation. The European and U.S. markets finished firmly higher, and the Asian bourses are also expected to track to the upside.

The KLCI finished modestly higher on Wednesday on gains from the financial shares, property stocks and plantations.
Testerday, the FBM KLCI collected 9.49 points or 0.62 percent to finish at the daily high of 1531.02 after falling as low as 1,525.90. Volume was 1.270 billion shares worth 1.809 billion ringgit. There were 473 gainers and 288 decliners.

Among the actives, Genting, IOI Corporation, Tenaga Nasional, Petronas Chemical and Digi.com all finished higher.

The lead from Wall Street is optimistic as stocks continued to perform well throughout the trading session after moving sharply higher in early trading on Wednesday. The markets benefited from a positive reaction to the latest batch of earnings news, further recovering from the sell-off seen on Monday. The considerable strength that was visible on Wall Street was largely due to better than expected quarterly results and upbeat guidance from big-name companies.

Wall St. major averages moved roughly sideways throughout the afternoon, closing firmly in positive territory. The Dow surged up 186.79 points or 1.5 percent to 12,453.54, the NASDAQ jumped 57.54 points or 2.1 percent to 2,802.51 and the S&P 500 climbed 17.74 points or 1.4 percent to 1,330.36. With the upward moves, the Dow reached its best closing level in almost three years and the NASDAQ reached a two-month closing high.

The U.S. market spinoff is expected to have a positive affect on Bursa Malaysia at the opening bell today.

In economic news, Malaysia's consumer prices rose at a faster annual pace in March, the Department of Statistics said on Wednesday. The consumer price index increased 3 percent year-on-year in March. In February, inflation was 2.9 percent. Economists were looking for an inflation figure of 3.1 percent. Month-on-month, prices edged up 0.1 percent in March. In February, the increase was 0.5 percent. During the January to March period, prices rose 2.8 percent from last year.

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