Renewed support expected for the Malaysian Stock Exchange


(RTTNews) – Ahead of Thursday’s Diwali holiday, the Malaysian stock market had fallen again – one session after ending a nine-day losing streak in which it had fallen more than 75 points or 4, 8%. The Kuala Lumpur Composite Index now sits just above the 1,530 point plateau, although it is expected to rebound on Friday

Global forecasts for Asian markets suggest upside potential as optimism about interest rates is offset by weak crude oil prices. European markets were up and US markets were mixed and Asian markets were making a difference.

The KLCI ended slightly lower on Wednesday following losses from plantations and glove makers, while financial results were mixed.

For the day, the index slipped 6.30 points or 0.41% to end at 1,531.33 after trading between 1,530.35 and 1,543.87. The volume was 3.419 billion shares worth 2.353 billion ringgits. There were 647 declining and 322 winning.

Among assets, Axiata and Genting both fell 0.78%, while CIMB Group lost 0.39%, Dialog Group sank 0.69%, lost 1.18%, Hartalega Holdings slipped 0.70%, Hong Leong Bank collected 0.33%, IHH Healthcare rose 0.93%, IOI Corporation fell 1.53%, Kuala Lumpur Kepong fell 0.65%, Maybank rose 0.13%, Maxis plunged 1.93%, MISC fell 0.14%, MRDIY rose 1.97%, Petronas Chemicals gained 0.36%, PPB Group lost 0, 56%, Press Metal slipped 0.18%, RHB Capital added 0.75%, Sime Darby Plantations fell 1.88%, Telekom Malaysia fell 1.08%, Tenaga Nasional fell 0, 21%, Top Glove fell 3.49% and Genting Malaysia, Public Bank and Sime Darby remained unchanged.

Wall Street’s lead is inconsistent, as both the NASDAQ and the S&P 500 opened higher and stayed that way to hit new closing highs, while the Dow opened lower and remained in the red throughout. throughout the session.

The Dow lost 33.35 points or 0.09% to close at 36,124.23, while the NASDAQ jumped 128.72 points or 0.81% to close at 15,940.31 and the S&P added 19 , 49 points or 0.42% to end at 4,680.06.

Another batch of earnings news was a big factor, as good results from chipmaker Qualcomm (QCOM) helped push NASDAQ up, while losses from Dow Inc. (DOW), Goldman Sachs (GS ) and Travelers (TRV) contributed to the modest decline. by the Dow Jones.

Traders also continued to respond positively to the Federal Reserve’s latest monetary policy announcement, with the central bank announcing its intention to cut back on asset purchases but signaling that it would not be in any rush to start raising rates. interest.

In economic news, the Department of Labor noted a modest drop in initial claims for unemployment benefits in the United States last week. Additionally, the Commerce Department said the U.S. trade deficit widened much more than expected in September.

Crude oil prices fell and stabilized at their lowest level in nearly a month on Thursday after OPEC decided to stick to its plan to modestly and gradually increase oil production. West Texas Intermediate crude oil futures for December ended down $ 2.05 or 2.5% at $ 78.81 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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