FKLI Related News (Mon, May 6)

NEW YORK, May 3 (Reuters) - The S&P 500 and Dow industrials hit intraday record highs on Friday and the benchmark S&P traded above 1,600 after U.S. employment rose more than expected in April. In addition, hiring was much stronger than previously thought in the prior two months, the Labor Department said, easing concerns that government spending cuts were dealing a blow to the economy. The Dow Jones industrial average rose 135.27 points or 0.91 percent, to 14,966.85, the S&P 500 gained 16.01 points or 1 percent, to 1,613.6 and the Nasdaq Composite  added 34.62 points or 1.04 percent, to 3,375.25.

The report eased investor concerns after a raft of soft data, particularly in the manufacturing sector, and sent the S&P 500 hurtling past what was viewed as its final resistance level of 1,600 to a fresh all-time closing high of 1,614.42. With little in the way of economic data on tap next week and earnings season moving into the home stretch, there appears to be little that could derail a move higher. But revenue remains disappointing, with only 46.3 percent of S&P 500 companies topping Wall Street expectations, well below the 62 percent beat rate since 2002 and shy of the 52 percent average for the past four quarters.

KUALA LUMPUR, May 6 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) opened at an all-time high of 1,771.6, up 76.85 points on strong buying interest after the ruling party maintained power in the just-concluded general election. The previous high of 1,718.44 points was registered on April 30. At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rocketed 121.5 points to 1,816.27 points with 362 gainers, 12 losers, 32 unchanged and 1,205 counters untraded including 32 others that are suspended. Turnover stood at 120.59 million shares worth RM335.44 million.

HwangDBS Vickers said with the incumbent Barisan Nasional coalition returning to federal power after the 13th General Election, the removal of a political overhang could spark a relief rally on the Malaysian stock exchange today. "The benchmark FBM KLCI may be on its way to plot fresh all-time highs," it said in a research note Monday. Among actives, CIMB added 99 sen to RM8.60, UEM Land garnered 41 sen to RM3.05, Astro gained nine sen to RM3.04, Tebrau Teguh earned 15 sen to RM1.39 and SapuraKencana chalked up 32 sen to RM3.37. Heavyweights, Maybank added 59 sen to RM10.18, Axiata gained 64 sen to RM7.24, Sime Darby earned 45 sen to RM 9.81, Petronas Chemicals added 31 sen to RM6.79 and Tenaga rose 36 sen to RM8.14.

FKLI spot month contract opened very high this morning at 1,721 following the election results last night saw the ruling coalition retaining power. Today’s Support and Resistance for May contract is located around 1,720 and 1,820 respectively.