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The FBM KLCI ended higher on Thursday following buying interest in selected heavyweights while Wall Street ended sharply higher in signs markets are revitalising.

The benchmark index increased 0.71% or 11.33 points to end at 1,597.31 with gainers led by PCHEM, PMETAL and RHBBANK. Market breadth was positive with 354 decliners against 584 advancers. Total volume stood at 2.29bn shares valued at RM2.19bn.

Regionally, key indices closed in positive territories. Nikkei 225 and STI gained 1.75% and 0.63% to end at 26,847.90 and 3,341.71 respectively. The SHCOMP and HSI climbed 0.58% and 1.65% to end at 2,975.48 and 20,276.17 respectively.

Wall Street ended sharply higher on Thursday post strong results from Meta Platforms. The DJIA and
S&P500 surged 1.85% and 2.47% to end at 33,916.39 and 4,287.50 respectively. Meanwhile Nasdaq inched 3.06% higher to end at 12,871.53.

Wall Street rebounded strongly buoyed by a slew of good corporate earnings in particular by Meta
Platforms.

Local markets

The DJI Average was up 614 points while the Nasdaq closed 383 points higher. Back home, the FBM KLCI rebounded to almost the 1,600 level from buying support by foreign funds. Meanwhile, the 10-year MGS inched higher to a 5-year high at above the 4.45% mark.

For today, we can expect some selling to emerging as the local bourse will be closed for three days next week for Hari Raya thus reckon the index to hover within the 1,590-1,600 range.

Crude prices ticked higher as airstrikes hit Kyiv as the Brent crude closed at almost US$108/barrel. – Rakuten