Malaysia's equity market rallies for eight days in a row

The FBM KLCI closed 15.79 points higher to 1,753.07, making it the best-performing index yesterday. The index has been on an upward trend since last week, after it fell to its 18-month low of 1,663.86 points on July 6.

PETALING JAYA: The local equity market has rallied for eight days in a row, with investors picking up beaten-down stocks as concerns of a global trade war ease with United States economic growth taking a positive turn.

On Tuesday, the Federal Reserve (Fed) expressed confidence in the US economy, citing a strong job market and inflation figures which are in line with the Fed’s targets, despite fears of a global trade war.