Market expected to start off on a strong note (ext: Edge)

Asian markets and Bursa Malaysia are expected to start off on a strong note on Aug 10, underpinned by the firm sentiment on Wall Street as an upbeat US July jobs data drove Wall Street higher.

The Dow Jones industrial average closed 1.23% higher at 9,370.07. The Standard & Poor's 500 Index advanced 1.34% to 1,010.48 while the Nasdaq Composite Index rose 1.37% to 2,000.25.

Equities are expected to attract more investors, following up from the previous week. According to EPFR Global, Asia ex-Japan Equity Funds remained the biggest money magnets among the four major EPFR Global-tracked emerging market equity fund groups during the first week of August.

EPFR said the diversified Global Emerging Markets (GEM) Equity Funds absorbed US$424 million, Latin America Equity Funds US$203 million and EMEA Equity Funds US$105 million.

"While flows into BRICs (Brazil, India and Russia) markets and BRIC Equity Funds remained solid, China ’s role was not as pronounced in early August, with China Equity Funds taking in a net US$18 million compared to US$45 million for Russia Equity Funds, US$89 million for Brazil Equity Funds and US$125 million for India Equity Funds.

"The inflow streak for dedicated BRIC Equity Funds, meanwhile, now stands at 20 weeks and US$2.43 billion," it said.

EPFR tracks traditional and alternative funds domiciled globally with US$10 trillion in total assets.