MALAYSIAN shares are expected to open higher today, boosted by gains on Wall Street as private sector job losses slowed and a leaked bank stress report suggested most US banks needed less capital than thought.
“I think it’s pretty safe to say that our market will resume its uptrend today,” said a technical analyst at a local brokerage.
But the market’s rise could be punctuated by profit-taking as most stocks are at overbought levels, he said.
US stocks rose yesterday after a private-sector reading on the labour market signaled unemployment may be receding and leaked bank stress test results suggested most banks are healthier than previously thought.
The Dow Jones industrial average rose 101.63 points, or 1.21 per cent, to 8,512.28. The Standard & Poor’s 500 Index climbed 15.73 points, or 1.74 per cent, to 919.53. The Nasdaq Composite Index added 4.98 points, or 0.28 per cent, to 1,759.10. - Reuters
No comments:
Post a Comment