FBM KLCI rises with S&P 500 futures ahead of US rate decision

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KUALA LUMPUR (June 14): The FBM KLCI rose 7.91 points or 0.4% with European shares and US equity futures ahead of the closely-watched US interest decision today.

At Bursa Malaysia, the KLCI closed at 1,792.35 points at 5pm on gains in stocks like CIMB Group Holdings Bhd and Genting Malaysia Bhd.

“The (KLCI's) performance was strong in the afternoon along with the rally around the world in the afternoon,” Etiqa Insurance and Takaful research head Chris Eng told theedgemarkets.com.

Bursa Malaysia saw 1.95 billion shares worth RM2.49 billion traded. There were 483 gainers and 381 decliners.

Malaysian stocks rose with European shares and the US' S&P 500 futures. The S&P 500 mini futures rose 2.25 points or 0.09% to 2,440.25 points at 5.35pm.

On European shares, Reuters reported that optimism about the global economy underpinned European equities where the pan-European STOXX 600 was up 0.6%, led by industrials and financials.

It was reported that global stocks rose on Wednesday, but worries about stretched valuations and caution before a near-certain rate hike by the US Federal Reserve kept their gains in check, while the dollar steadied against a basket of major currencies.