FBM KLCI up 22.25 points with US equity futures

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KUALA LUMPUR (Oct 12): The FBM KLCI closed 22.25 points or 1.3% higher on bargain hunting and as Asian stock markets tracked US equity futures' rise.

At 5pm, the KLCI ended at 1,730.74 points as KLCI-linked stocks Petronas Gas Bhd, Tenaga Nasional Bhd and Malayan Banking Bhd ended among Bursa Malaysia top gainers. The KLCI closed higher today on bargain hunting after the 30-stock index fell 26.69 points or 1.54% yesterday.

Today, Asian stock markets tracked US equity futures' rise. Japan's Nikkei 225 closed up 0.46%, South Korea's Kospi increased 1.51% while Hong Kong’s Hang Seng rose 2.12%.

At 5:.04pm, the US' S&P 500 and Nasdaq futures rose 21.5 and 84 points respectively. At 5.05pm, the Dow Jones Industrial Average futures climbed 174 points.

In Malaysia, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew said the Malaysian stock market's direction next week depends on US stocks' performance today (Friday).

“You can’t really tell (what it will be) because tonight will determine what will happen next week. It is not so much of what the (US stock) futures are doing right now, but it is more on what happens tonight in New York itself,”
Pong told theedgemarkets.com.

Across Bursa Malaysia today, 2.22 billion shares worth RM2.49 billion changed hands.

Top gainer Petronas Gas rose RM1.24 to close at RM18.48 while Tenaga added 32 sen to RM14.60.