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KUALA LUMPUR (Sep 25): Bursa Malaysia’s main index rose 0.53% in early trading on Friday after Malaysia remained on the FTSE’s World Government Bond Index (WGBI) Watch List, as of the September 2020 review, for a possible reclassification from Market Accessibility Level 2 to 1.
In the ranking published on September 24, FTSE Russell recognized the additional initiatives promoted by Bank Negara Malaysia (BNM) over the past twelve months to improve the accessibility of the Malaysian government bond market for foreign investors.
At 9.05am, the benchmark FBM KLCI index was up 8.01 points to 1,508.81.
The first winners were Hartalega Holdings Bhd, Kossan Rubber Industries Bhd, Top Glove Corp Bhd, Time Dotcom Bhd and Supermax Corp Bhd.
Bloomberg Stocks in Asia rose on Friday with US equity futures as investors weighed the chances of a new US stimulus package against a rally in global coronavirus cases.
The offshore yuan rose on optimism about inflows to Chinese assets, he said.
Rakuten Trade Sdn Bhd in its daily market report said that Wall Street closed slightly higher as it attempts to make a strong rally from its recent correction as news of new $ 2.4 trillion stimulus plans are back on negotiation, although in a smaller amount.
He said the Dow Jones closed 0.2% higher at 26,763.13 while the Nasdaq rebounded from an early slide to advance 0.37% to 10,672.27 while the S&P 500 rose 0.3% to 3,246.59.
“Regional markets are likely to follow the strongest close of US markets.
“Back on our home front, KLCI is expected to see a positive bias with a support level at 1,500 with possible window dressing activities, so investors should trade and embrace ‘buy the dips,” he said.
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