Renewed Consolidation Called For Malaysia Shares

RTTNews | 69 dias atrás
Renewed Consolidation Called For Malaysia Shares

(RTTNews) - The Malaysia stock market bounced higher again on Wednesday, one session after ending the three-day winning streak in which it had picked up more than 30 points or 2 percent. The Kuala Lumpur Composite Index now sits just above the 1,525-point plateau although it figures to head south again on Thursday.

The global forecast for the Asian markets is negative after U.S. President Donald Trump outlined his plan to impose sweeping tariffs on U.S. trade partners. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the former lead.

The KLCI finished modestly higher on Wednesday following gains from the telecoms and mixed performances from the financial shares, plantations and industrials.

For the day, the index improved 12.87 points or 0.85 percent to finish at the daily high of 1,526.52 after trading as low as 1,514.08.

Among the actives, 99 Speed Mart Retail retreated 1.47 percent, while Axiata advanced 1.12 percent, Celcomdigi surged 4.02 percent, CIMB Group spiked 2.00 percent, Gamuda gained 0.48 percent, IHH Healthcare lost 0.43 percent, IOI Corporation rallied 1.64 percent, Kuala Lumpur Kepong slumped 1.35 percent, Maxis added 0.59 percent, Maybank jumped 1.98 percent, MISC fell 0.42 percent, MRDIY and Tenaga Nasional both soared 2.84 percent, Nestle Malaysia stumbled 2.21 percent, Petronas Chemicals declined 1.38 percent, Press Metal eased 0.20 percent, Public Bank sank 0.68 percent, QL Resources rose 0.43 percent, RHB Bank improved 0.88 percent, Sime Darby tumbled 2.26 percent, SD Guthrie dipped 0.41 percent, Sunway dropped 0.88 percent, Telekom Malaysia increased 0.61 percent, YTL Corporation shed 0.50 percent, YTL Power climbed 1.20 percent and PPB Group and Petronas Gas were unchanged.

The lead from Wall Street is positive as the major averages shook off a soft open on Wednesday and tracked generally higher throughout the session.

The Dow jumped 235.36 points or 0.56 percent to finish at 42,225.32, while the NASDAQ advanced 151.16 points or 0.87 percent to close at 17,601.05 and the S&P 500 improved 37.90 points or 0.67 percent to end at 5,670.97.

The early weakness on Wall Street came amid concerns about the impact of Trump's reciprocal tariffs on U.S. trade partners.

However, traders then saw the early slump as an opportunity to pick up stocks at reduced levels, leading to the subsequent rebound.

In U.S. economic news, payroll processor ADP said private sector employment in the U.S. increased more than expected in March. Also, the Commerce Department said factory orders increased more than anticipated in February.

Crude oil prices ticked higher again on Wednesday, despite data showing an unexpected increase by U.S. crude oil inventories last week. West Texas Intermediate crude for May delivery rose $0.51 or 0.7 percent to $71.71 a barrel.

read more
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

It's likely to be a mixed start for Canadian shares on Wednesday with investors reacting to the crucial U.S. consumer price inflation data, and the developments on the trade front where U.S. and Chinese official reached a framework to implement the Geneva consensus following two days of discussions in London.
RTTNews | 51 minutos atrás
CAC 40 Drifts Lower In Cautious Trade

CAC 40 Drifts Lower In Cautious Trade

The French market is down in negative territory Wednesday afternoon, with stocks moving in a narrow range as investors await further details on U.S.-China trade talks, and the crucial inflation data from the U.S. later in the day.
RTTNews | 2 h 0 min atrás
Euro Rises Amid Risk-on Mood

Euro Rises Amid Risk-on Mood

The euro strengthened against other major currencies in the European session on Wednesday amid increased risk-on mood, as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction. After two days of discussions in London, U.S. and Chinese officials have agreed on a limited framework to put their trade truce back on track.
RTTNews | 3 h 6 min atrás
Euro Rises Against Majors

Euro Rises Against Majors

The euro strengthened against other major currencies in the European session on Wednesday.
RTTNews | 3 h 15 min atrás
Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Indian shares eked out modest gains on Wednesday as markets assessed the outcome of high-level U.S.-China talks and awaited key U.S. inflation readings for additional clues on the Federal Reserve's rate trajectory.
RTTNews | 3 h 16 min atrás
Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22

Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22

Tesla Inc. shares were gaining around 2.4 percent in the pre-market activity on the Nasdaq following a 6 percent jump on Tuesday's regular trading, after the founder and CEO Elon Musk confirmed that the much awaited robotaxi service is tentatively set to launch in Austin, Texas, on June 22. In a post on his social media platform X, Musk said, "Tentatively, June 22. We are being super paranoid...
RTTNews | 3 h 19 min atrás