Win Streak May Continue For Malaysia Stock Market

(RTTNews) - The Malaysia stock market has moved higher in four straight sessions, collecting more than 20 points or 1.4 percent along the way. The Kuala Lumpur Composite Index now sits just beneath the 1,555-point plateau and it may add to its winnings on Wednesday.

The global forecast for the Asian markets is positive on optimism over the outlook for interest rates. The European and U.S. markets were up and the Asian markets are tipped to at least open in similar fashion.

The KLCI finished modestly higher on Tuesday following gains from the financial shares, plantations and telecoms.

For the day, the index gained 9.85 points or 0.64 percent to finish at 1,554.56 after trading between 1,541.36 and 1,556.71.

Among the actives, Axiata skyrocketed 3.64 percent, while Celcomdigi jumped 1.63 percent, CIMB Group improved 0.75 percent, Genting tumbled 1.57 percent, Genting Malaysia rose 0.34 percent, IHH Healthcare added 0.66 percent, IOI Corporation advanced 1.01 percent, Kuala Lumpur Kepong and RHB Capital both gathered 0.18 percent, Maxis soared 2.25 percent, Maybank perked 0.10 percent, MRDIY slumped 1.33 percent, Petronas Chemicals climbed 1.02 percent, PPB Group accelerated 1.57 percent, Press Metal gained 0.65 percent, Public Bank collected 0.23 percent, QL Resources eased 0.17 percent, Sime Darby Plantations rallied 1.38 percent, Telekom Malaysia surged 2.65 percent, Tenaga Nasional spiked 2.14 percent, YTL Power dipped 0.27 percent and MISC, YTL Corporation, Sime Darby, Petronas Dagangan and Hong Leong Bank were unchanged.

The lead from Wall Street is upbeat as the major averages opened flat on Tuesday but quickly moved solidly to the upside and finished comfortably in the green.

The Dow soared 235.83 points or 0.61 percent to finish at 39,005.49, while the NASDAQ surged 246.36 points or 1.54 percent to end at 16,265.64 and the S&P 500 rallied 57.33 points or 1.12 percent to close at 5,175.27.

The strength on Wall Street reflected a positive reaction to the Labor Department's highly anticipated report on consumer price inflation in February.

While core price growth slowed slightly less than expected, the slowdown still seems to have added to optimism about the Federal Reserve lowering interest rates in June.

The Labor Department is scheduled to release a separate report on Thursday on producer price inflation for February.

Oil futures settled lower again on Tuesday on the U.S. inflation data and persisting worries about the outlook for demand. West Texas Intermediate Crude oil futures for April sank $0.37 at $77.56 a barrel.