Malaysia Stock Market May End Losing Streak

RTTNews | 475 дней спустя
Malaysia Stock Market May End Losing Streak

(RTTNews) - Ahead of Monday's holiday for Agong's birthday, the Malaysia stock market had moved lower in six straight trading days, sinking almost 35 points or 2.1 percent along the way. The Kuala Lumpur Composite Index now sits just beneath the 1,600-point plateau although it's expected to stop the bleeding on Tuesday.

The global forecast for the Asian markets suggests mild upside ahead of key data later in the week, although slumping oil prices may cap the upside. The European and U.S. markets were mixed and little changed and the Asian markets are likely to open in similar fashion.

The KLCI finished modestly lower on Friday following losses from the plantation stocks and mixed performances from the financial shares and telecoms.

For the day, the index shed 7.58 points or 0.47 percent to finish at 1,596.68 after trading between 1,595.36 and 1,612.31.

Among the actives, AMMB Holdings added 0.71 percent, while Axiata rallied 1.08 percent, Celcomdigi surrendered 2.06 percent, Dialog Group tumbled 2.05 percent, Genting retreated 1.86 percent, Genting Malaysia plummeted 5.36 percent, Inari plunged 3.27 percent, IOI Corporation stumbled 1.29 percent, Kuala Lumpur Kepong tanked 2.80 percent, Maxis skidded 0.82 percent, Maybank gained 0.30 percent, MISC advanced 0.72 percent, MRDIY sank 0.55 percent, Petronas Dagangan jumped 1.96 percent, Petronas Gas was up 0.33 percent, PPB Group perked 0.14 percent, Press Metal and RHB Capital both rose 0.18 percent, Public Bank collected 0.49 percent, QL Resources declined 1.56 percent, SD Guthrie lost 0.23 percent, Telekom Malaysia dropped 0.80 percent, Tenaga Nasional slumped 1.06 percent and Petronas Chemicals, Sime Darby, CIMB Group, IHH Healthcare, Nestle Malaysia and Hong Leong Bank were unchanged.

The lead from Wall Street offers little guidance as the major averages opened higher on Monday but quickly turned lower and spent most of the day in the red before a late push saw them end mixed and little changed.

The Dow slumped 115.29 points or 0.30 percent to finish at 38,571.03, while the NASDAQ added 93.65 points or 0.56 percent to close at 16,828.67 and the S&P 500 rose 5.89 points or 0.11 percent to end at 5,283.40.

Investors locked in recent gains in the first half of the day, consolidating positions ahead of key data later in the week. Late bargain hunting boosted the averages going into the close.

In U.S. economic news, the Institute for Supply Management said that manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in May. Also, the U.S. Census Bureau said U.S. construction spending unexpectedly shrunk in April.

Oil prices fell to a four-month low on Monday after OPEC said it will begin phasing out voluntary production cuts over the next year. West Texas Intermediate Crude oil futures for July ended down by $2.77 or about 3.6 percent at $74.22 a barrel.

read more
Asian Shares Mixed As Investors Ponder Fed's Rate Path

Asian Shares Mixed As Investors Ponder Fed's Rate Path

Asian stocks turned in a mixed performance on Monday as investors wondered how U.S. President Donald Trump's crackdown on immigration will reshape the world's largest economy in the short and long term.
RTTNews | 18 минут назад
Dollar Edges Up After Fed's Cautious Rate Cut

Dollar Edges Up After Fed's Cautious Rate Cut

The six-currency Dollar Index which measures the U.S. dollar's strength against a basket of 6 currencies edged up during the week ended September 19 amidst a cautious rate cut by the Federal Reserve as well as status quo by Bank of England and Bank of Japan.
RTTNews | 46 минут назад
European Shares Seen Mostly Lower In Cautious Trade

European Shares Seen Mostly Lower In Cautious Trade

European stocks are seen opening flat to slightly lower on Monday as investors react to the Trump administration's immigration crackdown on H-1B visas and shift focus to a slew of U.S. economic data as well as speeches by Fed Chair Jerome Powell and other Fed officials due this week for additional clues on the future path of interest rates.
RTTNews | 3ч 22мин назад
China Leaves Key Interest Rates Unchanged

China Leaves Key Interest Rates Unchanged

The People's Bank of China left its benchmark interest rates unchanged for the fourth straight month despite key indicators suggesting economic slowdown. The PBoC kept its one-year loan prime rate unchanged at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The decision came in line with expectations.
RTTNews | 3ч 34мин назад
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Monday, but adding to the gains in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving above the 8,800.00 level, with gains across most sectors led by mining and financial stocks.
RTTNews | 5ч 30мин назад
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Monday, following the positive cues from Wall Street on Friday, as the recent interest rate cut decision by the US Fed and the forecast by Fed officials of two more rate cuts this year but just one next year, continue to lift market sentiment. However, major currencies in the region weakened against the US dollar. Asian markets closed mixed on Friday.
RTTNews | 5ч 51мин назад
Sensex, Nifty Set To Open Lower After Trump's Visa Crackdown

Sensex, Nifty Set To Open Lower After Trump's Visa Crackdown

Indian shares look set to open lower on Monday, with tech stocks likely to be in focus after U.S. President Donald Trump signed an executive order slapping an additional fee on H-1B visa holders, potentially impacting profitability and prompting companies to rethink hiring strategies.
RTTNews | 6ч 27мин назад