KUALA LUMPUR: The FBM KLCI managed to finish Thursday higher by 0.89% to 1,485.26 although it gave up almost half of its earlier gains.
Dealers said investors took profit as there was still no clear solution to the debt problems faced by the West.
Still, Asian markets ended Thursday stronger taking their cue from the overnight strong performance in overseas markets.
Key U.S. equity bourses ended higher by between 4.2% and 4.3% after central banks in the US, Europe, UK, Canada, Japan and Switzerland took coordinated actions to lower the cost of US dollar borrowings. "Such a powerful rally on Wall Street will surely reverberate across Asia today," Hwang DBS told clients ahead of the opening bell in Asia.
The benchmark FBM KLCI will likely build on its two-day cumulative gains of 40.6-point or 2.8%, possibly overcoming the immediate resistance level of 1,475 ahead, it said. Crude palm oil 3-month futures were up RM51 to RM3,069 per tonne.
Nymex crude oil added 32 cents to US$100.69 per barrel.
Dealers said investors took profit as there was still no clear solution to the debt problems faced by the West.
Still, Asian markets ended Thursday stronger taking their cue from the overnight strong performance in overseas markets.
Key U.S. equity bourses ended higher by between 4.2% and 4.3% after central banks in the US, Europe, UK, Canada, Japan and Switzerland took coordinated actions to lower the cost of US dollar borrowings. "Such a powerful rally on Wall Street will surely reverberate across Asia today," Hwang DBS told clients ahead of the opening bell in Asia.
The benchmark FBM KLCI will likely build on its two-day cumulative gains of 40.6-point or 2.8%, possibly overcoming the immediate resistance level of 1,475 ahead, it said. Crude palm oil 3-month futures were up RM51 to RM3,069 per tonne.
Nymex crude oil added 32 cents to US$100.69 per barrel.
