KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
Standard & Poor's 500 Index turns positive for 2016 in the wake of a dovish Federal Reserve that helped the gauge post its longest weekly winning streak since November.
The S&P 500 followed the Dow Jones Industrial Average to advance for the year, after a poor start to the year, with The Dow jumping by 12% in 24 days through Thursday, boosted by seven separate daily advances exceeding 1%. It's amazing given that 2016 has started with one of the worst performance so far but a stunning comeback with stocks pushing over the top as US Fed signaled a slower pace of interest-rate increase this week.
The S&P 500 added 0.4% to 2,049 and is now up 0.3% this year after falling as much as 11%.
According to a report from Bloomberg, Friday’s gains were braced by health-care companies, with the group on the way to ending the longest losing streak in two months. Banks were on pace to halt a three-day slide after also lagging a broader rally in the past two weeks.
The Dow average Thursday wiped out a year-to-date decline that swelled to as much as 10% in February. It’s the fastest that a retreat of that size or more has ever been reversed this early in a year, data compiled by Bloomberg show.
The S&P 500 has climbed 1.3% this week, and is less than 4% away from a record set last May.
Energy and raw-materials have led the S&P 500 over the last five weeks.
A tumble in the dollar Thursday brought on by a more dovish Fed helped push the two groups to three-month highs yesterday.
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| One of the greatest comeback in the history |
The S&P 500 added 0.4% to 2,049 and is now up 0.3% this year after falling as much as 11%.
According to a report from Bloomberg, Friday’s gains were braced by health-care companies, with the group on the way to ending the longest losing streak in two months. Banks were on pace to halt a three-day slide after also lagging a broader rally in the past two weeks.
The Dow average Thursday wiped out a year-to-date decline that swelled to as much as 10% in February. It’s the fastest that a retreat of that size or more has ever been reversed this early in a year, data compiled by Bloomberg show.
The S&P 500 has climbed 1.3% this week, and is less than 4% away from a record set last May.
Energy and raw-materials have led the S&P 500 over the last five weeks.
A tumble in the dollar Thursday brought on by a more dovish Fed helped push the two groups to three-month highs yesterday.
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