MALAYSIA'S stock market is expected to open higher today, with financial and plantation stocks leading the way, after US markets rose on optimism from the banking sector with Goldman Sachs posting higher than expected profits.
The Standard & Poor’s 500 Index gained 0.3 per cent and the Nasdaq Composite Index rose 0.1 per cent, though the Dow Jones industrial average dipped 0.3 per cent on Boeing’s profit warning.
“I think the market should still test the next resistance of 950 points before we see any pullback,” said a local dealer.
“I think the lead will be in the planters and the financials as Goldman Sachs reported better than estimates after the Dow (Jones) closed. So I think sentiment and confidence are starting to come back for the financial sector.
“Plantations, for the first half we have been getting very good data, so there should be a lot of trading ongoing in that sector as well.” - Reuters
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