The Malaysian stock market has finished higher in back-to-back sessions, collecting more than 20 points or 1.3 percent along the way. The Kuala Lumpur Composite Index finished just shy of the 1,500-point plateau, and now traders are expecting to see the market extend its gains when it kicks off trade on Tuesday.
The global forecast for the Asian markets is broadly positive on M&A news, with support expected from the telecom, property, finance and airline sectors. The European and U.S. markets finished firmly in the green, and the Asian bourses are expected to open in similar fashion.
The KLCI finished sharply higher on Monday following gains from the financial shares, industrial issues and plantation stocks.
For the day, the index jumped 16.07 points or 1.08 percent to finish at the daily high of 1,499.74 after dipping as low as 1,486.04. Volume was 1.07 billion shares worth 1.45 billion ringgit. There were 627 gainers and 190 decliners, with 233 stocks finishing unchanged.
Among the gainers, Petronas Dagangan, BAT, Kuala Lumpur Kepong, Hong Leong Bank and AirAsia all finished higher.
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