Malaysian equities closed broadly higher last Friday amid the strong buying interests across the region.
The FBM KLCI gained 0.50% or 7.10 points to end at 1,427.20 with gainers led by NESTLE, PETDAG and KLK. Marketbreadth was positive with 445 gainers against 343losers.
Total volume stood at 1.62bn shares valued atRM1.12bn.Key regional markets closed mixed. The Nikkei 225gained by 1.11% to end at 26,812.30. HSI and SHCOMPlost 2.77% and 1.27% to end at 21,124.20 and 3,313.58 respectively.
STI was closed for public holiday
Stocks fell on Monday as Wall Street braced for bigcompany earnings reports slated later in the weekwhich could signal how inflation is impactingbusinesses. The DJIA lost 0.52% to end at 31,173.74 TheS&P 500 and Nasdaq declined 1.15% and 2.26% to endat 3,854.43 and 11,372.60 respectively.
Wall Street declined overnight as traders bracedthemselves for the earnings season which is expectedto kick-off later this week.
The DJI Average was down164 points while the Nasdaq closed 263 points lowerdespite the US 10-year yield ended just below the 3%mark. Last Friday, the FBM KLCI closed higher due tosome bargain hunting activities and expect the indexto remain stuck in a consolidation mode.
Therefore,we anticipate the benchmark index to hover withinthe 1,415-1,430 range today. Meanwhile, crude palm oilstaged a mild rebound to RM4,140/tonne while theBrent crude jumped to above the US$107/barrel levelon concerns over the supply side, says Rakuten Trade.