Asian Bourses Ended in Upbeat Note With Bets on Dovish Rate Hike

Kuala Lumpur, Nov 7 – Bursa Malaysia ended the day in mildly positive note with the barometer index FBM KLCI up 3.84 points or +0.27% at 1,442.12.

Asian bourses ended in upbeat note territory on Monday, following the broadly positive cues from global markets on Friday, with strength in resources and energy stocks boosting the markets amid the spike in commodity prices. Market participants’ mood were also supported by stronger-than-expected employment data as well as the less-hawkish commentary on interest rate guidance made by the Chicago Fed Federal Reserve (Fed) President Charles L. Evans.

Hong Kong’s Hang Seng Index extended its uptrend today and soared 2.69%. As the investors generally believe that the worst is over and with the initiatives taken by Beijing to spur economy again. On top of that fund inflows from mainland China has entered into the Hong Kong’s market after the HSI hit 13-year low, also propped up the index. Heavyweights of the technology, banking & finance, property made stellar gains in stock performance today.

** The FTSE BM KLCI opened at 1,441.18. The index fluctuated between 1,435.39 – 1,442.66.

** 441 counters are gainers, 380 counters are unchanged, while 438 counters are decliners.

** Total volume of 2,796,429,100 shares changed hands; while Turnover of RM 1.649 billion

** The Top 5 Gainers: DIN045801028 (102.00, +0.50); HEIM (23.60, +0.50); PPB (16.66, +0.46); RAPID (15.28, +0.40); CARLSBG (22.50, +0.32)

** The Top 5 Losers: HSI-HER (0.995, -0.405); KESM (7.10, -0.40); PETDAG (21.60, -0.40); HSI-HE8 (1.13, -0.33); HEXTECH (11.50, -0.32)

** The Top 5 Active : ASB (0.09, +0.025); TWL (0.03, -0.005); TANCO (0.44, +0.03); BORNOIL (0.02, UNCHANGED); TOPGLOV (0.79, +0.025)

* Singapore’s Straits Times Index (STI) gained 11.20 points or +0.36% to 3,141.31; Hong Kong’s HSI soared 434.77 points or +2.69% at 16,595.91; Japan’s Nikkei 225 Index climbed 327.90 points or +1.21% at 27,527.64; Shanghai’s SSE Composite Index up 7.02 points or +0.23% at 3,077.82; Korea’s Kospi Index rose 23.36 points or +0.99% at 2,371.79; Australia’s S&P/ASX 200 Index climbed 41.20 points or +0.60% at 6,933.70.

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