MALAYSIAN shares could extend the week’s gains today, as strong US data raised hopes of a sustained economic recovery.
However gains could be limited by an uninspiring performance on US stockmarkets overnight and by profit-taking in oil and commodities markets, a trader said.
US stocks rose for a fourth straight day yesterday as an upbeat report on home sales bolstered hopes for an economic recovery as well as shares in construction companies. But a sell-off in financials on worries about the dilutive impact of recent stock offerings limited a broader advance.
The Dow Jones industrial average added 19.43 points, or 0.22 per cent, to 8,740.87. The Standard & Poor’s 500 Indexgained 1.87 points, or 0.20 per cent, to 944.74. The Nasdaq Composite Index rose 8.12 points, or 0.44 per cent, to 1,836.80.
-- Reuters
Wednesday, June 3, 2009
Malaysian stocks may extend gains (BT)
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