Markets rally globally, echoing Wall Street

Speaking with StarBiz, Trident Analytics chief research officer Peter Lim Tze Cheng said the latest US inflation report is positive because there is a sign of inflationary pressures tapering off.

PETALING JAYA: Sentiment on Bursa Malaysia was lifted as inflation in the United States slipped from a 40-year peak, offering the US Federal Reserve (Fed) some room to slow down its pace of interest rate hikes.

Buying interest following slower inflation in the United States pushed the FBM KLCI up 13.23 points, or 0.89% to 1,505.56, its highest in a week.