KUALA LUMPUR: Stocks on Bursa Malaysia are expected to extend their gains for the week starting Sept 14 on the latest data showing strength in the economic recovery following the latest industrial production index.
The gains could be limited to the big capitalised stocks and blue chips on institutional buying, mirroring the Sept 11 close when the 30-stock FBM KLCI closed at a fresh 14-month high.
However, investors could be more optimistic as the global economy makes a recovery, one year after the collapse of the Lehman Brothers Holdings and the resultant global financial crisis.
Despite the weaker close on Wall Street on Friday, after five days of gains, sentiment is still firm. October crude oil futures fell nearly 4% to settle at US$69.29 a barrel due to a higher-than-expected rise in refined fuel inventory, according to Reuters.
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