Malaysia Bourse Expected To Be Rangebound On Wednesday

RTTNews | hace 568
Malaysia Bourse Expected To Be Rangebound On Wednesday

(RTTNews) - The Malaysia stock market on Tuesday ended the three-day winning streak in which it had gathered almost 30 points or 2 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,465-point plateau although it may tick higher again on Wednesday.

The global forecast for the Asian markets suggests mild upside on continuing optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

The KLCI finished slightly lower on Tuesday following losses from the plantations and mixed performances from the financial shares and telecoms.

For the day, the index dipped 1.30 points or 0.09 percent to finish at 1,463.37 after trading between 1,458.66 and 1,465.55.

Among the actives, Axiata and Press Metal both gained 0.41 percent, while Celcomdigi tumbled 1.37 percent, Dialog Group shed 0.47 percent, Genting advanced 0.71 percent, Genting Malaysia lost 0.40 percent, IHH Healthcare added 0.67 percent, IOI Corporation stumbled 1.00 percent, Kuala Lumpur Kepong fell 0.27 percent, Maxis and Public Bank both slid 0.24 percent, Maybank collected 0.44 percent, MISC rose 0.27 percent, MRDIY spiked 3.27 percent, Petronas Chemicals slumped 0.82 percent, PPB Group declined 1.05 percent, RHB Capital was up 0.18 percent, Sime Darby plunged 2.10 percent, Sime Darby Plantations retreated 1.13 percent, Telekom Malaysia rallied 2.51 percent, Tenaga Nasional sank 0.50 percent, Westports Holdings dropped 0.60 percent and CIMB Group and Petronas Gas were unchanged.

The lead from Wall Street is mildly positive as the major averages shook off early weakness to quickly move higher and finish with modest gains.

The Dow added 56.74 points or 0.17 percent to finish at 34,152.74, while the NASDAQ jumped 121.08 points or 0.90 percent to end at 13,639.86 and the S&P 500 rose 12.40 points or 0.28 percent to close at 4,378.38.

Profit taking contributed to the initial weakness on Wall Street as traders looked to cash in on the recent strength in the markets. But selling pressure waned shortly after the start of trading, with continued optimism about the outlook for interest rates contributing to the rebound.

The rebound by stocks also came as treasury yields showed a notable move back to the downside after surging in the previous session.

Traders also looked ahead to speeches by Federal Reserve Chair Jerome Powell later today and Thursday. Powell is due to deliver opening remarks at the Division of Research and Statistics Centennial Conference and participate in a policy panel discussions.

Crude oil prices tumbled on Tuesday as concerns about the outlook for fuel demand offset recent decisions by Russia and Saudi Arabia to extend production cuts to the end of the year. West Texas Intermediate Crude oil futures for December sank $3.45 or 4.3 percent at $77.37 a barrel.

Closer to home, Malaysia will see unemployment data for September later today; in August, the jobless rate was 3.4 percent.

read more
Bank Of Korea Cuts Policy Rate By 25 Bps

Bank Of Korea Cuts Policy Rate By 25 Bps

The Bank of Korea lowered its benchmark rate by a quarter-point to mitigate downside pressure on the economy. The monetary policy board, governed by Rhee Chang Yong, unanimously decided to cut the Base Rate by 25 basis points to 2.50 percent. The bank had previously reduced the benchmark rate by a quarter-point in February.
RTTNews | hace 21 minutos
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Thursday.
RTTNews | hace 27 minutos
Sensex, Nifty Modestly Higher; IT Stocks Lead Gains

Sensex, Nifty Modestly Higher; IT Stocks Lead Gains

Indian shares opened on a firm note Thursday after technology giant Nvidia buoyed investors with a bullish outlook for the growth in artificial intelligence and the U.S. Court of International Trade blocked President Trump's proposed "Liberation Day" tariffs, saying he had overstepped his authority.
RTTNews | hace 59 minutos
Australian Market Slightly Trims Early Gains In Mid-market

Australian Market Slightly Trims Early Gains In Mid-market

The Australian market is slightly trimming its early gains in mid-market moves on Thursday, reversing the slight losses in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,400 level, with gains in energy and technology stocks partially offset by a mixed performance in mining and financial stocks.
RTTNews | hace 1h 56min
Asian Markets Mostly Higher

Asian Markets Mostly Higher

Asian stock markets are trading mostly higher on Thursday, despite the broadly negative cues from Wall Street overnight, after a U.S. federal court blocked US President Donald Trump's attempt to impose sweeping reciprocal tariffs against its global trading partners under emergency powers, saying he exceeded his authority. Asian markets closed mostly lower on Wednesday.
RTTNews | hace 2h 17min
Sensex, Nifty Seen Higher As US Court Blocks Trump's Tariffs

Sensex, Nifty Seen Higher As US Court Blocks Trump's Tariffs

Indian shares look set to open higher on Thursday as investors react to encouraging industrial output data, upbeat Nvidia earnings and a U.S. court ruling blocking President Trump's "Liberation Day" tariffs, citing overreach of power.
RTTNews | hace 2h 51min
Japanese Market Sharply Higher

Japanese Market Sharply Higher

The Japanese market is trading sharply higher on Thursday, extending the gains in the previous four sessions, despite the broadly negative cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights, exporters and technology stocks.
RTTNews | hace 3h 45min
Thai Shares May Take Further Damage On Thursday

Thai Shares May Take Further Damage On Thursday

The Thai stock market has tracked lower in two straight sessions, slipping almost 20 points or 1.5 percent along the way. The Stock Exchange of Thailand now rests just above the 1,160-point plateau and it's expected to open to the downside again on Thursday.
RTTNews | hace 3h 48min