ASEAN KEY DESTINATIONS
ASEAN Market Outlook
Asian Markets are set for a strong start to the week after Wall Street hit its highest point in four months on Friday.
Singapore and the ASX will continue to post good gains, Thailand will move toward 1000 and Malaysia, Philippines and Jakarta are set to post new record highs.
In New York the Dow Jones index rose nearly 2 per cent to end the week as economic data continued to show the prospect of a double-dip recession in the world's largest economy is weakening.
Durable Goods Figures showed orders for big-ticket items decreased in August at a slower than expected rate, and traders found comfort in the fact that orders of items such as household appliances rose by a more-than-expected 2 per cent.
The manufacturing industry is seen as one of the main engines pulling the US economy out of one of its worst recessions in decades.
The Dow gained 197.84 points, or 1.86 per cent, to 10,860.26, while the broader S&P 500 index added 2.12 per cent and the tech-rich Nasdaq composite index rose by 2.33 per cent.
Commodity prices also rose, as gold continues to hit record levels.
Ebeling Heffernan predict the strengthening economy was also likely have ''positive implications'' for the employment market, with an increase in the employment rate in 2011 leading to a boost in levels of disposable household wealth.
Investors will be watching for the release of a manufacturing conditions index in the US this week.