Malaysia, world shares seen taking cue from US-Mexico trade deal

-A +A

KUALA LUMPUR (Aug 28): Malaysia and world shares may today take cue from US equities' overnight rise after the S&P 500 and the Nasdaq closed at record highs. It was reported that US stocks rose after the US announced an agreement with Mexico to replace the North American Free Trade Agreement.

The deal led to anticipation of higher US and Mexico economic growth, the sentiment of which, may influence Asian share trades today.

At Bursa Malaysia yesterday, the FBM KLCI closed 3.01 points or 0.17% higher at 1,811.60. The ringgit was traded at 4.1003 against the US dollar.

Overnight, Reuters reported that a broad-based rally pushed the S&P 500 and the Nasdaq to record-high closes for the second straight session on Monday as a trade agreement reached between the US and Mexico buoyed investor sentiment. Technology stocks led the Nasdaq above the 8,000 mark for the first time and the sector provided the biggest boost to the S&P 500.

The Dow Jones Industrial Average rose 259.29 points, or 1.01%, to 26,049.64, the S&P 500 gained 22.05 points, or 0.77%, to 2,896.74 and the Nasdaq Composite added 71.92 points, or 0.91%, to 8,017.90.