KLCI up 18.05pts on US markets, crude oil

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KUALA LUMPUR (Dec 18): The FBM KLCI rose 18.05 points or 1.1% in line with Asian markets. World equities rose, following strong overnight finish in US markets.

Reuters reported Asian share markets rallied on Thursday, after U.S. stocks enjoyed their strongest session this year, when the Federal Reserve sounded upbeat on the economy and promised to be patient in removing policy stimulus.

Malaysia's KLCI settled at 1,699.95 points at 5pm. The KLCI had extended gains from yesterday's 7.96 point or 0.48% rise.

Today, a remisier said the KLCI rose, as global crude oil prices, advanced while the ringgit strengthened against the US dollar.

He said the stronger close in US markets also supported the better market sentiment across Asia.

"Oil prices are seen stabilising,” he said.

Bursa Malaysia saw some 1.91 billion shares, valued at RM1.93 billion, traded. Gainers beat decliners at 761 against 180, while 193 counters were unchanged.

The top gainer was Hong Leong Financial Group Bhd, while British American Tobacco (M) Bhd led decliners.

Sumatec Resources Bhd was the stock with the highest number of trades.

In Asia, Japan’s Nikkei rose 2.32%, Hong Kong’s Hang Seng gained 1.09%, while South Korea’s Kospi fell 0.14%.

Reuters reported the jitters of recent days also calmed a touch, as Russia managed to stabilise its rouble, if only for now, and oil prices stopped plunging. As risk aversion ebbed, U.S. bond yields rose and the dollar regained some lost ground.