Malaysia Stock Market Due For Support On Monday

RTTNews | vor 610 Tagen

(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.

Singapore Bourse May Give Up Support At 4,200 Points

The Singapore stock market has finished lower in two straight sessions, slipping more than 25 points or 0.6 percent along the way. The Straits Times Index now sits just above the 4,230-point plateau and it may extend its losses on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | vor 23 Minuten

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in five straight sessions, collecting more than 35 points or 2.4 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,560-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | vor 53 Minuten

Win Streak May End For Japan Stock Market

Ahead of Monday's holiday for Mountain Day, the Japan stock market had moved higher in four consecutive sessions, advancing more than 1,580 points or 3.8 percent along the way. The Nikkei 225 now sits just above the 41,820-point plateau although investors are likely to lock in gains on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red. The Nikkei finished sharply higher on Friday with gains cross the board, especially among the finance, automobile and technology sectors. For the day, the index surged 761.38 points or 1.85 percent to finish at 41,820.48 after trading between 41,248.05 and 42,033.92. Among the actives, Nissan Motor accelerated 2.75 percent, while Mazda Motor spiked 4.91 percent, Toyota Motor jumped 3.47 percent, Honda Motor rallied 3.95 percent, Softbank Group skyrocketed 10.39 percent, Mitsubishi UFJ Financial collected 0.64 percent, Mizuho Financial advanced 1.02 percent, Sumitomo Mitsui Financial added 0.71 percent, Mitsubishi Electric fell 0.28 percent, Sony Group soared 3.50 percent, Panasonic Holdings climbed 1.16 percent and Hitachi rose 0.50 percent. The lead from Wall Street is negative as the major averages opened mixed on Monday, rallied midday but then slumped in the afternoon and finished under water.

RTTNews | vor 1Std 8 Minuten

Continued Consolidation Called For South Korea Shares

The South Korea stock market has finished lower in back-to-back sessions, sinking more than 20 points or 0.6 percent along the way. The KOSPI now sits just above the 3,200-point plateau and it may take further damage again on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | vor 1Std 23 Minuten

Australia Interest Rate Decision On Tap For Tuesday

The Reserve Bank of Australia will wrap up its monetary policy meeting this morning and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The RBA is expected lower its benchmark lending rate by 25 basis points, to 3.60 percent from 3.85 percent.

RTTNews | vor 2Std 23 Minuten

U.S. Dollar Firms Against Majors

The U.S. dollar strengthened against its major counterparts in the New York session on Monday.

RTTNews | vor 3Std 46 Minuten

Swiss Market Fails To Hold Early Gains, Ends Just Slightly Up

Despite opening on a firm note, the Switzerland market paring gains and even slipped into negative territory in late afternoon trades on Monday, but managed to end the day's session slightly up.

RTTNews | vor 6Std 38 Minuten

European Stocks Close On Mixed Note After Cautious Session

European stocks turned in a mixed performance on Monday after a cautious session as investors looked ahead to upcoming talks between the U.S. and Russia on the Ukraine war issue, and the ongoing tariff negotiations between the U.S. and China, as well as some crucial economic data, including a report on consumer price inflation in the world's largest economy.

RTTNews | vor 7Std 3 Minuten

EURUSD	1.16139	GBPUSD	1.34311	AUDUSD	0.65189
USDJPY	148.346	USDCAD	1.37762	USDCHF	0.81204