Asian stocks rose due to higher confidence among U.S. homebuilders, a surge in oil prices and a drop in bank borrowing costs. At the break, Japan market surged by 2.81%, Hong Kong 2.56% and Singapore 2.90%.In local bourse, blue chips rebounded in early trade in line with regional markets. The major gainers were Axiata, BCHB, Petra Perdana and plantation stocks. The KL Composite Index hiked gradually to end at 1,024.85 gained 12.81 pts or 1.27%. Volume increased slightly by 57 mln shares to 879 mln shares.
The Intra-Day Sentiment Oscillator though was bullish but failed to edge higher due to subdued volume. The Oscillator finished flat at 1,187.75 lost 903.09 points when compares with the starting point.
This afternoon, market sentiment has the potential for improvement due to the persistent and strong performance of other Asian markets. It will augur well for future market if total volume increases close to 2 thousand million shares today. (Constructed and shared by Smartbiz)
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