FKLI Related News

The FBM KLCI index gained 4.23 points or 0.26% on Friday. The

market traded within a range of 13.91 points between an intra-day

high of 1626.99 and a low of  1613.08  during  the  session.  Market

rose in tandem with  regional  bourses  performances  as  spurred  by

positive   China   trade   data.  However  volume  was  overall  lesser

transacted as retail investors were staying on  the  sideline,  away  for

long   lunar   New  Year  holidays.  FKLI  February  contract  closed

higher on Friday at 1616.50 after reaching the day’s low of 1600.50.

NEW YORK, Feb 8 (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures. The S&P 500 also posted a sixth straight week of gains for the first time since August. The technology sector led the day's gains, with the S&P 500 technology index up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.

Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government. "That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon. Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.

The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since Dec. 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon. The Dow Jones industrial average ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000. For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.

Signs of economic strength overseas buoyed sentiment on Wall Street. Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand. German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.

Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated. Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.

Volume was roughly 5.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion. Advancers outpaced decliners on the NYSE by nearly 2 to 1 and on the Nasdaq by almost 5 to 3.