Barefoot Investor: Asian markets soar after firm close at Wall Street -

The FBM KLCI advanced in early trade on Thursday, Dec 2 in tandem with the strong gains at key regional markets following the firm overnight close at Wall Street.

US stocks rose yesterday as several factors, including reports on improving US payrolls and manufacturing, as well as a 17% rise in November auto sales, pointed to a gradual but steady return in consumer demand.

The Institute of Supply Management’s factory index was fairly little changed at 56.6 in November from 56.9 in October, signaling growth was still intact.

Investor sentiment across the region had since earlier yesterday given a slight nudge upwards as China, the UK and Germany also showed marked improvements in their respective purchasing managers’ index, indicating growth in factory output.

The FBM KLCI rose 11.86 points to 1,497.28 at 10am, lifted by gains including at BAT, Petronas Gas, PPB and Petronas Chemicals.

Gainers led losers by 377 to 90, while 171 counters traded unchanged. Volume was 218.88 million shares valued at RM304.35 million. (The Edge Online Malaysia)


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