KLCI continues recovery, up 20 points at midday

KUALA LUMPUR: The gloom seems to have lifted as the local stock market continues to build on Wednesday’s reverse of negative downtrend when the FBM KLCI gained 7.96 points to close at 1,681.9. By midday today, the index had climbed 20.3 point to 1,702.2 – a gain of 1.21%.

There were cheers – and impetus – from across the Pacific, where the S&P 500 had its best day since October 2013 after the Federal Reserve gave an optimistic take on the US economy and said it would be patient in raising interest rates.