Renewed Support Anticipated For Malaysia Shares

RTTNews | 567 ngày trước
Renewed Support Anticipated For Malaysia Shares

(RTTNews) - The Malaysia stock market headed south again on Wednesday, one day after ending the three-day losing streak in which it had fallen almost 10 points or 0.6 percent. The Kuala Lumpur Composite Index now sits just above the 1,455-point plateau although it's likely to bounce higher again on Thursday.

The global forecast for the Asian markets is upbeat on continued optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

The KLCI finished modestly lower on Wednesday following losses from the financial shares, plantation stocks and telecoms.

For the day, the index shed 7.51 points or 0.51 percent to finish at 1,455.89 after trading between 1,454.52 and 1,460.59.

Among the actives, Axiata tumbled 1.63 percent, while CIMB Group was down 0.35 percent, Dialog Group sank 0.94 percent, Genting surrendered 1.58 percent, Genting Malaysia slipped 0.39 percent, IHH Healthcare shed 0.68 percent, IOI Corporation skidded 1.00 percent, Kuala Lumpur Kepong slid 0.46 percent, Maxis slumped 1.22 percent, Maybank eased 0.11 percent, MISC stumbled 1.23 percent, MRDIY rallied 1.27 percent, Petronas Chemicals plunged 1.76 percent, PPB Group dropped 0.97 percent, Press Metal retreated 1.42 percent, RHB Capital fell 0.53 percent, Sime Darby added 0.42 percent, Sime Darby Plantations declined 1.35 percent, Telekom Malaysia dipped 0.40 percent, Tenaga Nasional lost 0.57 percent, Westports Holdings jumped 1.72 percent and Celcomdigi, Public Bank and Hong Leong Bank were unchanged.

The lead from Wall Street is positive as the major averages opened higher on Wednesday and remained in the green throughout the session.

The Dow jumped 184.74 points or 0.53 percent to finish at 35,273.03, while the NASDAQ gained 65.88 points or 0.46 percent to end at 14,265.86 and the S&P 500 rose 18.43 points or 0.41 percent to close at 4,556.62.

The strength on Wall Street came as continued optimism about the outlook for interest rates contributed to renewed buying interest following the previous day's pullback.

While the minutes of the latest Federal Reserve meeting failed to provide any indications the central bank plans to cut interest rates in the near future, CME Group's FedWatch Tool suggests the next move will be a rate cut in mid-2024.

In economic news, the Labor Department said first-time claims for unemployment benefits fell more than expected last week. Also, the Commerce Department said new orders for U.S. manufactured durable goods pulled back by much more than expected in October.

Crude oil futures settled lower Wednesday after data showed a notable increase in crude inventory in the U.S., and after OPEC postponed a key meeting by four days. West Texas Intermediate Crude oil futures for January ended down $0.67 or 0.86 percent at $77.10 a barrel.

read more
U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
RTTNews | 1h 51phút trước
U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th. The report said initial jobless claims in at 248,000, unchanged from the previous week's revised level. Economists had expected jobless claims to dip to 240,000 from the 247,000 originally reported for the previous week.
RTTNews | 1h 54phút trước
Bay Street Likely To Open On Negative Note

Bay Street Likely To Open On Negative Note

Canadian shares are likely to open with a negative bias on Thursday as trade concerns, and Middle East tensions may weigh on sentiment. A lack of specifics in the framework agreed to by U.S. and Chinese officials on Tuesday has raised uncertainty about the two nations reaching an agreement anytime soon.
RTTNews | 2h 38phút trước
U.S. Producer Prices Inch Up Less Than Expected In May

U.S. Producer Prices Inch Up Less Than Expected In May

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May.
RTTNews | 3h 4phút trước
Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Co. shares are currently down around 8 percent in the pre-market activity on the NYSE after an Air India aircraft headed to London with 242 people onboard crashed immediately after take-off in the Indian city of Ahmedabad. The plane, a Boeing 787-8 Dreamliner headed to Gatwick Airport in the UK, crashed in a civilian area near the Sardar Vallabhbhai Patel International Airport.
RTTNews | 3h 23phút trước
FTSE 100 Recovers After Weak Start, Up Marginally

FTSE 100 Recovers After Weak Start, Up Marginally

After opening on a negative note amid trade tensions and data showing a contraction in the nation's GDP growth in April, U.K. stocks recovered some lost ground on Thursday. Still, amid uncertainty about China and the U.S. agreeing on a concrete trade deal anytime soon, and lingering concerns about the European Union finalizing a trade deal before the July 8 deadline, the mood in the market remain
RTTNews | 3h 33phút trước
GameStop Shares Plunge After Plan To Raise $1.75 Bln

GameStop Shares Plunge After Plan To Raise $1.75 Bln

Shares of GameStop Corp. plunged around 11 percent in the extended trading on Wednesday and are currently trading 13 percent lower in the pre-market activity on the NYSE, after the company announced plan to raise $1.75 billion again in private offering, probably for Bitcoin purchase. GameStop's shares had declined sharply in March after the firm announced a $1.3 billion private offering.
RTTNews | 4h 34phút trước