Friday, 5 October 2012

FKLI Related News
U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a fourth day, as reports on jobless claims and factory orders were better than forecast and the European Central Bank said it stands ready to buy bonds.
U.S. data showing the number of Americans filing new claims for unemployment benefits rose only slightly after a big drop the prior week added to the positive tone in equity markets. The data came a day before the government's closely watched monthly report on the job market.
Oil prices rallied 4 percent a day after registering a steep fall as Turkey's retaliatory strikes on Syria heightened tensions in the Middle East, while U.S. gasoline futures rallied following a fire at a refinery in Texas.
ECB President Mario Draghi, speaking after the bank held benchmark lending rates steady at 0.75 percent, said "the euro is irreversible." He also said the ECB is ready to buy the bonds of troubled euro-zone economies that ask for it.
Malaysia's KLCI reached a new all-time high, up 0.1% at 1662.53 midday break, amid gains in most Asian stock markets; the benchmark index earlier hit a high of 1668.32. Maybank IB says the KLCI is likely to head towards its target of 1683 however, it cautions that "volatility and profit-taking may emerge at these lofty price levels." Support is tipped at 1661.

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