Malaysian shares seen higher on Wall St rally
MALAYSIAN shares are seen opening higher today, tracking Wall Street’s bull run last week on hopes of a better year ahead in spite of weak economic data.
The Dow Jones industrial average rose 2.88 per cent on Friday while the Standard & Poor’s 500 Index jumped 3.08 per cent, even as economic data showed
The benchmark Malaysian share index closed up 2.01 per cent at 894.36 points on Friday.
“I do see that the momentum may continue,” said a dealer with a local brokerage, adding that the duration of a rally was unclear.
“There could be some buying activities in the beginning of the year for portfolio balancing but later economic numbers could factor into the market,” he said. - Reuters
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