Little Movement Anticipated For Malaysia Shares

(RTTNews) - The Malaysia stock market has moved higher in back-to-back sessions, collecting almost 7 points or 0.5 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,455-point plateau although it may spin its wheels on Friday.

The global forecast suggests little movement ahead of the end of the year, although some profit taking is possible. The European markets were slightly lower and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.

The KLCI finished slightly higher on Thursday following mixed performances from the financials, plantations and telecoms.

For the day, the index perked 3.19 points or 0.22 percent to finish at 1,457.41 after trading between 1,453.06 and 1,459.10.

Among the actives, Celcomdigi dropped 0.72 percent, while CIMB Group climbed 0.69 percent, Genting advanced 0.43 percent, Genting Malaysia gained 0.37 percent, IHH Healthcare rose 0.33 percent, Kuala Lumpur Kepong fell 0.18 percent, Maxis slumped 1.03 percent, Maybank was up 0.11 percent, MISC, Petronas Chemicals and PPB Group all gathered 0.14 percent, Press Metal perked 0.21 percent, Public Bank collected 0.71 percent, RHB Capital jumped 1.30 percent, Sime Darby Plantations rallied 0.45 percent, YTL Power added 0.40 percent and IOI Corporation, Axiata, YTL Corporation, Telekom Malaysia, Tenaga Nasional, Sime Darby, Petronas Gas, MRDIY and QL Resources were unchanged.

The lead from Wall Street offers little clarity as the major averages opened higher on Thursday but faded as the day progressed, finishing mixed and little changed.

The Dow added 53.58 points or 0.14 percent to finish at 37,710.10, while the NASDAQ dipped 4.04 points or 0.03 percent to close at 15,095.14 and the S&P 500 rose 1.77 points or 0.04 percent to end at 4,783.35.

The choppy trading on Wall Street came after the Labor Department said first-time claims for U.S. unemployment benefits rose more than expected last week. Also, the National Association of Realtors said pending home sales were unexpectedly unchanged in November.

While the data added to optimism about the outlook for interest rates, traders remained reluctant to make significant moves going into the end of the year.

Crude oil prices fell sharply Thursday on easing concerns about trade disruptions after several shipping companies resumed transit via the Red Sea. West Texas Intermediate Crude oil futures for February ended down $2.34 or 3 percent at $71.77 a barrel.