Malaysia Stock Market Poised To Extend Losing Streak

RTTNews | vor 820 Tagen
Malaysia Stock Market Poised To Extend Losing Streak

(RTTNews) - The Malaysia stock market has moved lower in four straight sessions, sinking more than 35 points or 2.6 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,420-point plateau and it's expected to open under pressure again on Tuesday. The global forecast for the Asian markets is mixed to lower on continuing fears of a financial crisis. The European markets were sharply lower and the U.S. bourses were mixed and little changed and the Asian markets figure to follow the latter lead. The KLCI finished modestly lower on Monday as losses from the telecoms and entertainment stocks were mitigated by support from the plantations and a mixed picture from the financials. For the day, the index shed 11.25 points or 0.79 percent to finish at 1,421.83 after trading between 1,409.93 and 1,423.66.

Among the actives, Axiata slumped 0.97 percent, while CIMB Group advanced 0.57 percent, Dialog Group fell 0.42 percent, Digi.com lost 0.46 percent, Genting eased 0.22 percent, Genting Malaysia stumbled 1.13 percent, IHH Healthcare spiked 1.70 percent, INARI declined 1.23 percent, IOI Corporation surged 2.63 percent, Kuala Lumpur Kepong rose 0.19 percent, Maybank collected 0.48 percent, Maxis tumbled 1.27 percent, MISC dropped 0.69 percent, MRDIY plunged 2.35 percent, Petronas Chemicals rallied 1.43 percent, Press Metal gained 0.40 percent, Public Bank was down 0.25 percent, RHB Capital shed 0.53 percent, Sime Darby Plantations added 0.47 percent, Telekom Malaysia retreated 1.21 percent, Tenaga Nasional sank 0.64 percent and PPB Group, Sime Darby, AMMB Holdings and Petronas Dagangan were unchanged.

The lead from Wall Street offers little clarity as the major averages spent most of Monday bouncing back and forth across the unchanged line before finally ending mixed and little changed.

The Dow dropped 90.50 points or 0.28 percent to finish at 31,819.14, while the NASDAQ added 49.96 points or 0.45 percent to close at 11,188.84 and the S&P 500 dipped 5.83 points or 0.15 percent to end at 3,855.76.

The weakness that emerged on Wall Street came on continued concerns over the fallout from the Silicon Valley Bank collapse - which triggered heavy selling, particularly in the banking sector.

Over the weekend, the U.S. Treasury, Federal Reserve, and Federal Deposit Insurance Corporation said they would "fully protect" depositors, including those with assets above the federally guaranteed $250,000 limit, but traders were not reassured.

Investors are also nervous ahead of the ECB meeting and key inflation data due out later this week.

Crude oil prices fell sharply on Monday amid worries that a U.S. banking debacle may follow last week's collapse of Silicon Valley Bank. West Texas Intermediate Crude oil futures settled lower by $1.88 or 2.4 percent at $74.80 a barrel.

read more
European Shares Seen Tad Lower At Open

European Shares Seen Tad Lower At Open

European stocks may drift lower on Wednesday as market participants assess the outcome of U.S.-China trade negotiations.
RTTNews | vor 2Std 43 Minuten
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | vor 3Std 54 Minuten
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
RTTNews | vor 4Std 55 Minuten
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.
RTTNews | vor 5Std 20 Minuten
Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | vor 5Std 49 Minuten
Thai Bourse May Extend Tuesday's Gains

Thai Bourse May Extend Tuesday's Gains

The Thai stock market on Tuesday ended the two-day slide in which it had slipped more than 5 points or 0.4 percent. The Stock Exchange of Thailand now rests just beneath the 1,140-point plateau and it may tick higher again on Wednesday.
RTTNews | vor 6Std 20 Minuten
Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.
RTTNews | vor 6Std 46 Minuten
Indonesia Shares May Open To The Upside

Indonesia Shares May Open To The Upside

The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
RTTNews | vor 6Std 50 Minuten