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Market Daily Report: Bursa Malaysia's Key Index Ends At Intraday High

KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
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WallStreet Update: US stocks rose

It hasn't been like this for a while but the US stocks saw a surge yesterday and rose across the board, supported by the jump in oil price while rally in Amazon.com just made S&P 500 to reach its best day in two months. Wall Street bullish All three major averages closed about 1.25 percent higher in high volume trade, with the Dow up about 222 points. S&P 500 jumped 1.25 percent to 2,084.39 while Nasdaq Composite added 1.26 percent to 4,809.88. Amazon.com jumped 3.43 percent to a record of $703.07, giving the biggest boost to the S&P 500 and the Nasdaq. All 10 major S&P sectors gained and seven of them were up over 1 percent, led by a 1.75 percent rise in the energy index. Oil rose over 4 percent as supply disruptions in Canada and elsewhere overshadowed fears of oversupply. International stock markets were helped by solid corporate earnings in Europe, progress on Greek debt talks, and a new pledge by Japan that it was prepared to weaken t...
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WallStreet Update: Dow closes above 18,000 for the first time since last July

Stocks advanced Monday, with the Dow Jones Industrial Average rising above the 18,000 level for the first time since July, as investors shook off oil’s losses on failed output talks and looked toward a bevy of corporate earnings this week. The index jumped about 100 points to close above 18,000 on Monday. It's a pretty sweet milestone considering the Dow plunged to just 15,451 in January, as Wall Street freaked out over the crash in oil prices and China's economic slowdown. Cooler heads eventually prevailed as investors realized the American economy is not collapsing and cheap oil is actually good for most Americans. The Dow is now up 16.5% from its 2016 low, and is within striking distance of its all-time record high of 18,351 set last May. The S&P 500 also closed at a fresh 2016 high on Monday. Even the Nasdaq is closing in on a key level: The tech index is now down just 1% on the year. That's impressive given the fact the Nasdaq was flirt...
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Wall Street Update: S&P 500 turns positive for 2016

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. One of the greatest comeback in the history 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...
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Wall Street Update: US market rallies and look to Fed for what's next

US stock market surged higher over the past month  and will be looking to Fed for what's next on the table. Just how fast will the Fed raise the interest rate is anybody's guess and it starts from next week. The bullish market is here to stay?  With the recent economic data showing a stronger US economy and relieved concerns of a recession, the S&P500 recovered strongly in February.  The S&P 500 rose 1.6% to 2,022, capping a fourth straight week of gains, the most since November. The gauge finished above its average price during the past 200 days for the first time this year, ending its longest streak below that threshold since 2011. The Dow gained 218 points. The S&P 500 has rebounded more than 10% since a Feb. 11 low and trimmed its 2016 drop to less than 1.2%, after losses of as much as 11% at one time amid concern over China’s economic slowdown and a deepening oil rout. Investor sentiment in the aftermath of the ECB’s announcements, swing...
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