Bursa jumps as Fed decision sends global equities rallying

KUALA LUMPUR: The domestic market surged after a strong showing on Wall Street overnight as the Federal Reserve raised rates by 50 basis points and assured investors that future rate hikes will likely not go any higher.

The major US indices surged between 2.8% and 3.2% on the decision as investors had braced for potential rate hikes of 75 basis points and more as the Fed attempts to rein in soaring inflation.