FBM KLCI higher after Wall Street share gains

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KUALA LUMPUR (April 15): The FBM KLCI finished 1.16 points or 0.07% higher today, taking cue from US share gains on Friday at Wall Street.

At 5pm today, the KLCI settled at 1,631.33 after rising to its intraday high at 1,638.87. In the US on Friday, the Dow Jones Industrial Average closed up 1.03%, S&P 500 rose 0.66% while the Nasdaq Composite was 0.46% higher.

Reuters reported that US stocks closed near record highs on Friday after the largest US bank, JPMorgan Chase & Co, soothed worries that the first-quarter earnings season would dampen Wall Street's big rally back from last year's slump.

In Malaysia today, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com the KLCI gained after taking cue from the positive US share sentiment across Wall Street on Friday.  

“Bursa Malaysia's small cap (index) declined as energy shares retreated on the fall in crude oil prices, coupled with some selling into news in some construction stocks on the finalisation of East Coast Rail Link contract,” Leong said.

The small-cap index closed down 119.38 points or 0.89% to 13,246.24 while the construction gauge fell 2.34 points or 1.14% to 203.32.

Across Bursa Malaysia, 3.13 billion shares worth RM1.75 billion were traded.

Top gainers included Inari Amertron Bhd and LPI Capital Bhd. Most-actively traded stocks included Sapura Energy Bhd and Prestariang Bhd.