Bursa rises as Fed rate cut forecast spurs buying interest

KUALA LUMPUR: Projections by the US Federal Reserve that it would cut interest rates spurred on equities markets, including Bursa Malaysia, as investors snapped up stocks in light of the brighter prospects in 2024.

The US market surged overnight with the major indices picking up gains of 1.4% each and the Dow Jones hitting a record high of 37,090 points.