KUALA LUMPUR (July 10): The FBM KLCI rose 7.77 points or 0.5% on positive sentiment across Asian stock markets, following US equities' overnight rise. Reuters reported Asian shares sought to rally for a third session on Tuesday, as hopes for upbeat corporate earnings buoyed Wall Street.
At Bursa Malaysia, the KLCI settled at 1,680.40 at 12:30pm. Overnight in the US, the Dow Jones Industrial Average closed 1.31% higher, while the S&P 500 and Nasdaq Composite each rose 0.88%.
In Malaysia today, Frank Lin, a dealer’s representative at Hong Leong Investment Bank Bhd, told theedgemarkets.com: “Generally, this is due to the global market. It has been looking good over the last two days and the US market closed very strongly last night (overnight)."
“Asian markets aren't doing too bad” as the trade war between the US and China has “cooled down a little”, Lin said. Hong Kong’s Hang Seng was up 0.5%, while Japan's Nikkei 225 rose 1.01%.