New York Ebola scare curbs KLCI rebound

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KUALA LUMPUR (Oct 24): The FBM KLCI rose 1.22 points or 0.1% in volatile trade as news of a fresh Ebola case in New York curbed gains across Asian stock markets.

At 12.30pm, Malaysia's KLCI settled at 1,811.90 on gains in stocks like Kuala Lumpur Kepong Bhd (KLK) and Sime Darby Bhd. The KLCI had earlier reached an intraday high of 1,814.46 and a low of 1,810.20.

Yesterday, the KLCI rose 14.46 points or 0.81% to close at 1,810.68 on local institutional fund buying, according to analysts.

Today, Reuters reported that US stock futures tumbled while safe-haven assets such as the yen and US bonds gained after media reported that a doctor who returned to New York City from West Africa had tested positive for Ebola.

S&P mini futures fell as much as 0.7% to 1,931.75, slipping from two-week highs hit the previous day on budding optimism on corporate earnings and the global economy.

In Malaysia, Bursa Malaysia saw 1.06 billion shares worth some RM814 million changed hands. There were 91 gainers versus 227 decliners.

The top gainers included KLK and Malaysia Airports Holdings Bhd while leading decliners included Narra Industries Bhd and CIMB Group Holdings Bhd.

The most active stock was Malaysian Airline System Bhd.

Across Asia, Japan's Nikkei 225 rose 0.81% while Hong Kong's Hang Seng fell 0.14%.

South Korea's Kospi dropped 0.55% while Singapore's Straits Times was 0.44% lower.