Malaysia Stock Market Due For Support On Monday

RTTNews | Před 616 dny
Malaysia Stock Market Due For Support On Monday

(RTTNews) - The Malaysia stock market has moved lower in five straight sessions, slipping almost 15 points or 1 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,440-point plateau although it's expected to find traction on Monday.

The global forecast for the Asian markets is upbeat on an improved outlook for inflation. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion on Monday.

The KLCI finished barely lower again on Friday following losses from the telecoms, support from the financials and a mixed picture from the plantation stocks.

For the day, the index dipped 0.88 points or 0.06 percent to finish at 1,441.97 after trading between 1,441.09 and 1,446.13.

Among the actives, Axiata retreated 1.27 percent, while Celcomdigi plunged 1.69 percent, Dialog Group slumped 0.51 percent, Genting dipped 0.22 percent, IHH Healthcare added 0.69 percent, IOI Corporation rallied 0.76 percent, Kuala Lumpur Kepong was up 0.09 percent, Maxis tumbled 1.28 percent, Maybank collected 0.33 percent, Petronas Chemicals jumped 1.58 percent, PPB Group advanced 0.71 percent, Press Metal gained 0.42 percent, Public Bank dropped 0.47 percent, RHB Capital rose 0.18 percent, Sime Darby declined 0.84 percent, Sime Darby Plantations sank 0.45 percent, Telekom Malaysia fell 0.38 percent, Tenaga Nasional perked 0.10 percent and Westports Holdings, MISC, MRDIY, Genting Malaysia, CIMB Group and Petronas Gas were unchanged.

The lead from Wall Street ends up positive as the major averages overcame early choppiness on Friday, moving solidly higher in afternoon trade to finish in the green.

The Dow rallied 130.47 points or 0.36 percent to finish at 36,247.87, while the NASDAQ gained 63.97 points or 0.45 percent to close at 14,403.97 and the S&P 500 added 18.78 points or 0.41 percent to end at 4,604.37. For the week, the Dow inched marginally higher, the S&P 500 rose 0.2 percent and the NASDAQ added 0.7 percent.

The early volatility on Wall Street followed the release of a highly anticipated Labor Department report showing stronger than expected job growth in November.

The data raised concerns that strength in the labor market could lead the Federal Reserve to delay cutting interest rates, with investors hoping the central bank would pivot to rate cuts as early as March 2024.

But buying interest was generated in reaction to a University of Michigan report showing a pullback in consumers' inflation expectations in December.

Oil spiked sharply on Friday after Saudi Arabia and Russia urged the members of OPEC to join an output cut agreement. West Texas Intermediate Crude oil futures for January ended higher by $1.89 or 2.7 percent at $71.23 a barrel, snapping a six-day losing streak.

Closer to home, Malaysia will see October figures for industrial production later today, with forecasts suggesting an increase of 2.4 percent on year following the 0.5 percent decline in September.

read more
Lower Open Predicted For Taiwan Stock Market

Lower Open Predicted For Taiwan Stock Market

The Taiwan stock market rebounded on Friday, one day after ending the five-day winning streak in which it had rallied more than 910 points or 3.9 percent. The Taiwan Stock Exchange now sits just above the 24,330-point plateau although it may head south again on Monday.
RTTNews | Před 36 minutami
Little Movement Expected For Singapore Stock Market

Little Movement Expected For Singapore Stock Market

The Singapore stock market has moved lower in two straight sessions, falling more than 40 points or 0.9 percent along the way. The Straits Times Index now sits just above the 4,230-point plateau and it's likely to remain in that neighborhood again on Monday.
RTTNews | Před 1 h 6 min
New Zealand Services Index Improves To 48.9 - BusinessNZ

New Zealand Services Index Improves To 48.9 - BusinessNZ

The services sector in New Zealand continued to contract in July, albeit at a slower rate, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 48.9.
RTTNews | Před 1 h 19 min
Malaysia Bourse Likely To Remain Rangebound On Monday

Malaysia Bourse Likely To Remain Rangebound On Monday

The Malaysia stock market has moved lower in back-to-back sessions, slipping more than 10 points or 0.6 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,575-point plateau and it may tick lower again on Monday.
RTTNews | Před 1 h 36 min
Japan Shares Due For Profit Taking On Monday

Japan Shares Due For Profit Taking On Monday

The Japan stock market bounced higher again on Friday, one day after snapping the six-day winning streak in which it had surged more than 3,000 points or 7.3 percent. The Nikkei 225 now sits just beneath the 43,380-point plateau although investors are likely to lock in gains on Monday.
RTTNews | Před 1 h 51 min
South Korea Shares May Be Stuck In Neutral On Monday

South Korea Shares May Be Stuck In Neutral On Monday

Ahead of Friday's holiday for Liberation Day, the South Korea stock market had moved higher in back-to-back sessions, gathering more than 35 points or 1.1 percent along the way. The KOSPI now sits just above the 3,225-point plateau although it m ay spin its wheels on Monday.
RTTNews | Před 2 h 6 min
Singapore Export Data On Tap For Monday

Singapore Export Data On Tap For Monday

Singapore will on Monday release July figures for non-oil domestic exports, highlighting a light day for Asia-Pacific economic activity. In June, NODX was up 14.3 percent on month and 13.0 percent on year.
RTTNews | Před 3 h 6 min
Euro Higher Against Majors

Euro Higher Against Majors

The euro appreciated against its major counterparts in the New York session on Friday.
RTTNews | Před 2 dny