MALAYSIA'S stock market is expected to open higher today, spurred by confidence in western markets that rose on the back of positive earnings from JPMorgan pointing to early signs of a financial stabilisation. “I think the market will follow through because the sentiment is there, even though they just ignore some economic data,” a local dealer said.
Malaysia released weak manufacturing sales data yesterday that showed sales fell 26.1 per cent in February and a revised 29.1 per cent in January. “But maybe because today is Friday in between there will be some profit-taking,” the dealer said.
The Dow Jones industrial average rose 95.81 points, or 1.19 per cent, to 8,125.43. The Standard & Poor’s 500 Index gained 13.24 points, or 1.55 per cent, to 865.30. The Nasdaq Composite Index jumped 43.64 points, or 2.68 per cent, to 1,670.44. - Reuters