KUALA LUMPUR: Key regional markets and Bursa are expected to extend their upward trend on Wednesday, Sept 9 after US stocks advanced, spurred ob by a rise in corporate deal activity while the weak dollar led to gains in commodities.
The Dow Jones industrial average closed up 0.59%, at 9,497.34. The Standard & Poor's 500 Index rose 0.88% at 1,025.38. The Nasdaq Composite Index gained 0.94% at 2,037.77.
On Sept 8, Asian markets rallied while the 30-stock FBM KLCI crossed the 1,200-psychological barrier which could see more technical buying on big cap PLANTATION [ ] stocks, banks and selected trading stocks.
Strong commodity prices are expected to keep regional stocks higher. Crude palm oil futures for the third month delivery rose RM85 per tonne to RM2,197 while crude oil prices moved above the US$71 per barrel level.
Wednesday, September 9, 2009
Bursa expected to extend upward trend (ext: Edge)
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