Wall Street jumped last night

Wall Street jumped last night. Key U.S. equity indices rose between 3.0% and 4.3% chiefly on the expectations that the Federal Reserve chairman could be announcing fresh policy responses to stimulate the struggling U.S. economy at a gathering of central bankers later this week.

This may provide a temporary boost to investment sentiment around the region today. On the chart, the benchmark FBM KLCI will probably climb towards its technical resistance level of 1,495 ahead. Meanwhile, among the slew of corporate financial result announcements out yesterday evening, banking heavyweight CIMB’s report card came in within expectations (which may lead to a rebound in its share price after dropping 4.4% in three days) while Axiata and MAS posted disappointing earnings.