Malaysia Bourse Tipped To Open In The Green

(RTTNews) - The Malaysia stock market has moved higher in two straight sessions, advancing more than 20 points or 1.2 percent. The Kuala Lumpur Composite Index now sits just above the 1,750-point plateau and it may add to its winnings again on Tuesday. The global forecast for the Asian markets is cautiously optimistic amidst an extended rebound among technology companies and ahead of key U.S. data later this week. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The KLCI finished sharply higher on Monday following gains from the financial shares and industrials, while the plantations and telecoms were mixed. For the day, the index climbed 18.47 points or 1.07 percent to finish at 1,751.30 after trading between 1,736.32 and 1,752.13. Among the actives, 99 Speed Mart Retail skyrocketed 4.80 percent, while AMMB Holdings perked 0.30 percent, Axiata plummeted 8.37 percent, Celcomdigi and Public Bank both acceleraed 2.21 percent, CIMB Group increased 1.06 percent, Gamuda stumbled 1.71 percent, IHH Healthcare rallied 1.59 percent, Kuala Lumpur Kepong picked up 0.41 percent, Maxis added 1.04 percent, Maybank collected 1.01 percent, MISC advanced 1.25 percent, MRDIY spiked 2.23 percent, Nestle Malaysia sank 0.62 percent, Petronas Chemicals surged 4.75 percent, Petronas Dagangan improved 1.07 percent, Petronas Gas jumped 1.65 percent, PPB Group gathered 0.54 percent, Press Metal and RHB Bank both strengthened 1.47 percent, QL Resources rose 0.96 percent, Sime Darby soared 3.24 percent, Sunway was up 0.35 percent, Telekom Malaysia vaulted 1.52 percent, Tenaga Nasional climbed 1.43 percent, YTL Corporation expanded 1.50 percent, YTL Power gained 0.98 percent and IOI Corporation and SD Guthrie both were unchanged.

The lead from Wall Street suggests mild upside as the major averages opened lower on Monday but eventually moved up into the green to finish with modest gains.

The Dow rose 18.98 points or 0.04 percent to finish at 50,134.65, while the NASDAQ jumped 217.80 points or 0.95 percent to close at 23,249.02 and the S&P 500 added 34.13 points or 0.49 percent to end at 6,966.43.

The strength that has emerged on Wall Street reflected an extended rebound by tech stocks, which helped the strong upward move seen last Friday.

Software giant Oracle (ORCL) has helped lead the sector higher, spiking by 9.3 percent after D.A. Davidson upgraded its rating on the company's stock to Buy from Neutral.

The choppy trading came as traders were reluctant to make significant moves ahead of the release of several key U.S. economic reports in the coming days. The Labor Department's closely watched monthly jobs report, which was delayed due to the brief government shutdown last week, is likely to be in the spotlight.

Gold prices moved sharply higher on Monday, extending last week's gains. Gold for February delivery surged $99.70 or 2 percent to $5,050.90 an ounce. The continued advance by the price of gold came amid weakness in the value of the U.S. dollar, with the U.S. dollar index sliding 0.7 percent.