Little Movement Expected For Malaysia Shares

(RTTNews) - The Malaysia stock market has moved lower in back-to-back sessions, slumping more than 15 points or 1 percent along the way. The Kuala Lumpur Composite Index now sits just beneath the 1,485-point plateau and it's likely to be rangebound again on Friday.

The global forecast for the Asian markets is mixed and flat to lower following U.S. inflation data. The European markets were down and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.

The KLCI finished slightly lower on Thursday as losses from the financials and industrials were offset by support from the plantations and telecoms.

For the day, the index slid 3.86 points or 0.26 percent to finish at the daily low of 1,483.00 after moving as high as 1,492.44.

Among the actives, Axiata gained 0.40 percent, while Genting plunged 3.90 percent, Genting Malaysia plummeted 5.96 percent, IOI Corporation rose 0.25 percent, Kuala Lumpur Kepong added 0.54 percent, Maxis slumped 0.78 percent, Petronas Chemicals tumbled 1.71 percent, PPB Group advanced 0.68 percent, Press Metal retreated 1.63 percent, Public Bank fell 0.23 percent, RHB Capital sank 0.54 percent, Sime Darby Plantations jumped 1.61 percent, Telekom Malaysia rallied 0.88 percent, Tenaga Nasional shed 0.38 percent, YTL Power lost 0.30 percent and MRDIY, Petronas Dagangan, Sime Darby, Celcomdigi, CIMB Group, Maybank, MISC, IHH Healthcare, YTL Corporation and Hong Leong Bank all were unchanged.

The lead from Wall Street offers little clarity as the major averages opened slightly higher on Thursday but quickly plummeted deep into the red before rallying to finish mixed and flat.

The Dow rose 15.29 points or 0.04 percent to finish at 37,711.02, while the NASDAQ perked 0.54 points or 0.00 percent to close at 14,970.18 and the S&P 500 slipped 3.21 points or 0.07 percent to end at 4,780.24.

The early downturn on Wall Street came as traders digested the Labor Department's highly anticipated report on consumer price inflation in December, which showed prices rose slightly more than expected.

A number of economists have said the data makes the Federal Reserve less likely to cut interest rates in March, with many predicting the central bank will hold off until its May meeting.

The late-day recovery attempt on Wall Street also came as treasury yields showed a notable move to the downside after showing a lack of direction for much of the day.

Oil futures settled higher on Thursday as prices rebounded on likely disruptions in trade and supplies after Iran seized a tanker with Iraqi crude marked for delivery to Turkey. West Texas Intermediate Crude oil futures for February ended higher by $0.65 at $72.02 a barrel.