Investors will lock in gains (ext: Edge)

With market sentiment firmer, especially with the buying spreading out to small cap stocks including property counters, gains could extend on Aug 14 after the firmer close on Wall Street.

However, with the weekend ahead, there could also be pockets of selling on some stocks which had run up as investors lock in gains and await fresh news.

Small cap property stocks have had a good run on Aug 13 and there could be rising interest as investors view an economic recovery would be an opportunity to pick up the laggards and companies with strategic landbanks. These stocks include E&O and SP Setia.

On Wall Street, Stocks rose on Thursday as better-than-expected earnings by Wal-Mart Stores Inc  helped offset disappointing government numbers on retail sales and jobs.

The Dow Jones industrial average rose 36.58 points, or 0.39 percent, to 9,398.19. The Standard & Poor's 500 Index gained 6.92 points, or 0.69 percent, to 1,012.73. The Nasdaq Composite Index added 10.63 points, or 0.53 percent, to 2,009.35.

Financial stocks were among the bright spots, a day after hedge fund manager John Paulson -- who had made a fortune betting against financial companies after foreseeing the credit crisis -- disclosed that he had bought large stakes in several banks, including Bank of America.