Wall St gives Bursa, Asian markets much needed boost
KUALA LUMPUR: The strong overnight close on Wall Street gave key Asian markets including Bursa Malaysia a much needed boost early Wednesday.
At 9.16am, the FBM KLCI was up 2.87 points or 0.17% to 1,739.71. Turnover was 250.06 million shares valued atr RM122.71mil. There were 289 gainers, 72 losers and 144 counters unchanged/.
Reuters said upbeat US earnings reports drove a rebound on Wall Street and helped restore a little confidence in emerging market stocks and currencies.
Japan's Nikkei jumped 1.3% but still has a long way to go to recoup the past week's losses. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.5% and South Korea 1.5%.
At Bursa, KESM was the top gainer, up 40 sen to RM13.30, HLFG added 36 sen to RM19.36 and Lion Forest Industries 26.5 sen to 75.5 sen.
Carlsberg rose 14 sen to RM17.40. CIMB Research has a hold call with a target price of RM20.20. Heineken lost 12 sen to RM17.50. Then research house has a target price of RM20.50.
The government raised the the legal age to purchase alcoholic drinks to 21 from 18, effective Tuesday.
BAT added 12 sen to RM33.34 as the prices of cigarettes are expected to rise with the Sales and Service Tax and manufacturers have been given three weeks to propose new prices.
Top Glove gained 10 sen to RM11.70 and Merge Energy bounced up 9.5 sen to 81.5 sen.
At 9.16am, the FBM KLCI was up 2.87 points or 0.17% to 1,739.71. Turnover was 250.06 million shares valued atr RM122.71mil. There were 289 gainers, 72 losers and 144 counters unchanged/.
Reuters said upbeat US earnings reports drove a rebound on Wall Street and helped restore a little confidence in emerging market stocks and currencies.
Japan's Nikkei jumped 1.3% but still has a long way to go to recoup the past week's losses. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.5% and South Korea 1.5%.
At Bursa, KESM was the top gainer, up 40 sen to RM13.30, HLFG added 36 sen to RM19.36 and Lion Forest Industries 26.5 sen to 75.5 sen.
Carlsberg rose 14 sen to RM17.40. CIMB Research has a hold call with a target price of RM20.20. Heineken lost 12 sen to RM17.50. Then research house has a target price of RM20.50.
The government raised the the legal age to purchase alcoholic drinks to 21 from 18, effective Tuesday.
BAT added 12 sen to RM33.34 as the prices of cigarettes are expected to rise with the Sales and Service Tax and manufacturers have been given three weeks to propose new prices.
Top Glove gained 10 sen to RM11.70 and Merge Energy bounced up 9.5 sen to 81.5 sen.
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