Malaysia Stocks Point Higher as Fed Holds Rates; KLCI Near 1,615

Malaysia's Kuala Lumpur Composite Index is tipped to open higher on Thursday after gaining 2.02 points, or 0.13 percent, to close at 1,613.87 on Wednesday. The index traded between 1,609.44 and 1,615.87 during the session, extending a two-day run that has added nearly 10 points, or 0.6 percent. The global backdrop is cautiously optimistic after the Federal Reserve left interest rates unchanged at its latest meeting, though a spike in oil prices is expected to cap gains. European and U.S. markets closed slightly higher, and Asian bourses are likely to follow. Energy and industrial stocks led Wednesday's advance, offsetting weakness in financials and plantations. On Wall Street, the Dow rose 0.19 percent to 52,475.10, the NASDAQ added 0.27 percent to 26,549.85 and the S&P 500 gained 0.28 percent to 7,743.98. CME FedWatch shows an 85.0 percent chance of a quarter-point hike at the December 8-9 meeting. WTI crude jumped 3.12 percent to $103.02 a barrel on reports of possible U.S. strikes on Iran.