Malaysia Stock Market Due For Consolidation

RTTNews | 1120 gün önce

(RTTNews) - The Malaysia stock market has moved higher in four straight sessions, gathering more than 40 points or 2.7 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,500-point plateau although it may run out of steam on Tuesday.

The global forecast for the Asian markets suggests mild consolidation amid concerns over growth and sinking oil prices. The European and U.S. markets were slightly lower and the Asian bourses are expected to follow that lead.

The KLCI finished modestly higher on Monday following gains from the plantation stocks and glove makers, while the financials and telecoms were mixed.

For the day, the index gained 9.84 points or 0.66 percent to finish at 1,502.07 after trading between 1,495.62 and 1,503.83. Volume was 2.385 billion shares worth 1.498 billion ringgit. There were 546 gainers and 355 decliners. Among the actives, CIMB Group collected 0.77 percent, while Dialog Group strengthened 1.81 percent, Digi.com dropped 0.83 percent, Genting rose 0.63 percent, Genting Malaysia added 1.03 percent, Hartalega Holdings increased 1.46 percent, IHH Healthcare improved 1.72 percent, INARI advanced 1.05 percent, IOI Corporation jumped 2.48 percent, Kuala Lumpur Kepong soared 2.65 percent, Maybank was up 0.11 percent, Maxis shed 0.54 percent, MRDIY climbed 1.80 percent, Petronas Chemicals gathered 0.79 percent, Press Metal perked 0.82 percent, Sime Darby rallied 2.56 percent, Sime Darby Plantations gained 0.92 percent, Telekom Malaysia retreated 1.58 percent, Tenaga Nasional surged 2.91 percent, Top Glove spiked 2.59 percent and Axiata, MISC, Public Bank, RHB Capital, PPB Group and Petronas Gas were unchanged.

The lead from Wall Street ends up mildly negative as the major averages opened lower on Monday and bounced back and forth across the unchanged line before finally ending slightly in the red.

The Dow shed 45.95 points or 0.14 percent to finish at 32,799.18, while the NASDAQ fell 21.71 points or 018 percent to close at 12,368.98 and the S&P 500 dipped 11.67 points or 0.28 percent to end at 4,118.62.

Worries about slowing growth weighed on sentiment, but fairly encouraging corporate earnings updates helped limit market's downside.

In addition, investors are looking ahead to the crucial non-farm payroll data due later in the week.

In economic news, the S&P Global US Manufacturing PMI was revised slightly lower in July, while the Commerce Department said U.S. construction spending fell more than expected in June. Also, the Institute for Supply Management's Manufacturing PMI was down slightly in July but not as much as feared.

Crude oil prices fell sharply on Monday amid concerns about outlook for energy demand and ahead of this week's OPEC+ meeting. West Texas Intermediate Crude oil futures for September ended lower by $4.73 or 4.8 percent at $93.89 a barrel.

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 15 dakika önce

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 45 dakika önce

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | 1s 0 dakika önce

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1s 15 dakika önce