Losing Streak May Continue For Malaysia Stock Market

RTTNews | 12 hari yang lalu

(RTTNews) - The Malaysia stock market has moved lower in three straight sessions, slipping more than a dozen points or 0.9 percent in that span. The Kuala Lumpur Composite Index now sits just beneath the 1,525-point plateau and it's looking at another soft start again on Thursday.

The global forecast for the Asian markets is soft amid continued uncertainty over U.S. trade policies. The European and U.S. markets were down and the Asian bourses figure to open in similar fashion.

The KLCI finished slightly lower on Wednesday following losses from the financial shares and plantations, gains from the industrials and a mixed picture from the telecoms.

For the day, the index slipped 2.68 points or 0.18 percent to finish at the daily low of 1,523.48 after peaking at 1,532.80.

Among the actives, 99 Speed Mart Retail jumped 1.40 percent, while Axiata spiked 1.97 percent, Celcomdigi lost 0.26 percent, CIMB Group sank 0.43 percent, Gamuda surged 2.40 percent, IHH Healthcare was up 0.14 percent, IOI Corporation plunged 2.69 percent, Kuala Lumpur Kepong stumbled 2.26 percent, Maxis rose 0.28 percent, Maybank fell 0.10 percent, MISC advanced 0.94 percent, MRDIY added 0.63 percent, Nestle Malaysia dropped 0.61 percent, Petronas Dagangan soared 2.02 percent, Petronas Gas slumped 0.99 percent, PPB Group shed 0.35 percent, Press Metal tumbled 1.77 percent, Public Bank retreated 1.14 percent, RHB Bank tanked 2.63 percent, Sime Darby plummeted 4.81 percent, SD Guthrie declined 1.07 percent, Sunway climbed 1.06 percent, Telekom Malaysia gained 0.44 percent, Tenaga Nasional improved 0.71 percent, YTL Corporation strengthened 1.12 percent, YTL Power rallied 1.92 percent and Petronas Chemicals, QL Resources and Hong Leong Financial were unchanged.

The lead from Wall Street is soft as the major averages shook off a mildly positive open and headed south through the balance of the session, ending at daily lows.

The Dow dropped 244.95 points or 0.58 percent to finish at 42,098.70, while the NASDAQ sank 98.23 points or 0.51 percent to close at 19,100.94 and the S&P 500 slumped 32.99 points or 0.56 percent to end at 5,888.55.

The choppy trading came as traders seemed reluctant to make significant moves ahead of the release of earnings news from AI darling and market leader Nvidia (NVDA) after Wednesday's close.

The earnings news after the bell showed that Nvidia beat the street on earnings and revenue, possibly lending support to technology shares going forward.

Lingering uncertainty about President Donald Trump's trade policies also kept some traders on the sidelines following recent volatility.

Crude oil prices moved sharply higher on Wednesday on news that OPEC will establish output quotas for 2027. West Texas Intermediate crude for July delivery climbed $0.87 or 1.43 percent to $61.76 per barrel.

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid easing trade war tensions between the US and China after the two superpowers began high-level trade talks in London, with negotiations expected to continue on Tuesday. The tariff war between the two countries has already rattled the global economy.

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Indian shares look set to open on a positive note Tuesday as top officials from the U.S. and China continue their trade talks for a second day today to resolve their differences and ease tensions over rare-earth minerals and technology shipments.

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Thai Bourse May Extend Losing Streak

The Thai stock market has ticked lower in back-to-back sessions, slipping more than 5 points or 0.4 percent along the way. The Stock Exchange of Thailand now rests just above the 1,135-point plateau and it may take further damage on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.

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Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Tuesday, extending the gains in the previous two sessions, following the mixed cues from Wall Street overnight, with the Nikkei 225 moving up to near the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks were the only weak spot.

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Lower Open Anticipated For Indonesia Stock Market

Ahead of the long holiday weekend for Eid-al-Adha, the Indonesia stock market had moved higher in back-to-back sessions, gathering almost 70 points or 1 percent along the way. The Jakarta Composite Index now rests just above the 7,110-point plateau although it's likely to open under pressure on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference. The JCI finished modestly higher on Thursday following gains from the financials and mixed performances from the resource and cement companies. For the day, the index added 44.39 points or 0.63 percent to finish at 7,113.42 after trading between 7,083.89 and 7,136.64. Among the actives, Bank CIMB Niaga sank 0.87 percent, while Bank Mandiri climbed 1.00 percent, Bank Negara Indonesia spiked 2.79 percent, Bank Central Asia shed 0.56 percent, Bank Rakyat Indonesia collected 0.49 percent, Indosat Ooredoo Hutchison added 0.48 percent, Indocement advanced 0.98 percent, Semen Indonesia tumbled 1.79 percent, Indofood Sukses Makmur dropped 0.91 percent, United Tractors perked 0.12 percent, Energi Mega Persada plunged 4.24 percent, Astra Agro Lestari retreated 1.26 percent, Aneka Tambang tanked 2.82 percent, Vale Indonesia plummeted 4.13 percent, Timah rallied 2.07 percent, Bumi Resources soared 2.50 percent and Astra International and Bank Danamon Indonesia were unchanged.

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Hong Kong Shares Tipped To Open In The Red On Tuesday

The Hong Kong stock market bounced higher again on Monday, one session after ending the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,180-point plateau although it may hand back those gains on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.

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Australian Market Notably Higher

The Australian stock market is trading notably higher on Tuesday, reversing some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,550 level, with gains across most sectors led by technology and energy stocks. Gold miners were the only weak spot.

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China Stock Market Due For Consolidation On Tuesday

The China stock market has finished higher in five straight sessions, advancing more than 50 points or 1.5 percent along the way. The Shanghai Composite Index now sits just beneath the 3,400-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.

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EURUSD	1.14009	GBPUSD	1.35413	AUDUSD	0.65247
USDJPY	144.852	USDCAD	1.37056	USDCHF	0.82262

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Losing Streak May Continue For Malaysia Stock Market