Malaysia Bourse May Extend Losing Streak
(RTTNews) - The Malaysia stock market has moved lower in back-to-back sessions, slipping almost a dozen points or 0.8 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,475-point plateau and it's tipped to take further damage on Monday. The global
(RTTNews) - The Malaysia stock market has moved lower in back-to-back sessions, slipping almost a dozen points or 0.8 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,475-point plateau and it's tipped to take further damage on Monday.
The global forecast for the Asian markets is soft on lingering concerns over the outlook for interest rates following the recent batch of data. The European markets were down and the U.S. bourses were mixed and the Asian markets also figure to open in the red.
The KLCI finished modestly lower on Friday following losses form the financials and plantations, while the telecoms came in mixed.
For the day, the index slipped 7.36 points or 0.50 percent to finish at 1,476.90 after trading between 1,473.15 and 1,484.76.
Among the actives, Axiata added 0.65 percent, while CIMB Group sank 0.55 percent, Dialog Group plummeted 5.04 percent, Digi.com improved 0.94 percent, Genting plunged 3.58 percent, Genting Malaysia tumbled 1.75 percent, IHH Healthcare climbed 1.18 percent, INARI tanked 2.32 percent, IOI Corporation retreated 1.04 percent, Kuala Lumpur Kepong dipped 0.19 percent, Maybank fell 0.23 percent, Maxis skidded 0.74 percent, Petronas Chemicals advanced 0.98 percent, Press Metal gained 0.57 percent, Public Bank lost 0.48 percent, RHB Capital dropped 0.72 percent, Telekom Malaysia declined 1.15 percent, Tenaga Nasional eased 0.10 percent and Sime Darby, Sime Darby Plantations, MISC, MRDIY and PPB Group were unchanged.
The lead from Wall Street is mixed as the major averages opened in the red on Friday, although the Dow managed to break into the positive territory and finish mildly in the green.
The Dow climbed 129.79 points or 0.39 percent to finish at 33,826.69, while the NASDAQ slumped 68.53 points or 0.58 percent to close at 11,787.27 and the S&P 500 fell 11.32 points or 0.28 percent to end at 4,079.09. For the week, the Dow eased 0.1 percent, the NASDAQ rose 0.6 percent and the S&P dipped 0.3 percent.
The early weakness on Wall Street reflected ongoing concerns about the outlook for interest rates following the week's batch of economic data, which has led to worries the Federal Reserve could raise rates higher than currently anticipated.
