(RTTNews) – Malaysia’s stock market closed consecutive trading days lower, falling more than a dozen pages or 0.7pc in the period. The Kuala Lumpur Composite Index is now actually unreliable about the 1630 level, although the reality is that it will simply hurt the bleeding on Monday.
Regional forecasts for Asian markets are optimistic, with strong expectations for growth driven by technology and oil stocks. European markets fell while US stocks rose, with Asian markets expected to see the latter benefit.
The KLCI was modestly lower on Friday as losses in financials, telecoms and plantations eased the red meat from industrials.
For the day, the index slipped 3.41 points, or 0.21 percent, to 1,629.46 after trading between 1,626.04 and 1,636.08.
Among many actives, Ninety 9 Depart Mart Retail fell 1.63 percent while Axiata added 0.42 percent, Celcomdigi gained 1.37 percent, CIMB Crew shed 0.25 percent, IHH Healthcare slipped by 0.27 percent, IOI Company lost 0.52 percent, Kuala Lumpur Kepong sank 0.74 percent. pc, Maybank misplaced 0.39pc, MISC down 0.13pc, MRDIY up 1.07pc, Nestle Malaysia down 1.72pc, Petronas Chemicals up 2.67pc pc, Petronas Dagangan rose 4.39pc, PPB Crew rose 0.16pc, Press Metal won 0.41pc, Public Monetary Institution down 0.88pc, QL Resources down 0.84pc, RHB Monetary institution down 0.31pc, Sime Darby down 0.85pc, SD Guthrie down 0.20pc , Sunway declined 1.27pc, Telekom Malaysia declined 1.18pc, Tenaga Nasional weakened 1.08pc, YTL Company jumped 3.40 percent, YTL Vitality jumped 1.59 percent, and Maxis and Gamuda were unchanged.
Wall Boulevard management is bullish as the major averages started higher on Friday and remained in the inexperienced range throughout the day, ending near session highs.
The Dow jumped 339.83 points, or 0.80 percent, to 42,732.13, while the NASDAQ added 340.88 points, or 1.77 percent, to end at 19,621.68 and the S&P 500 climbed 73, 92 pages or 1.26 percent to a total of 5,942.47.
In the week interrupted by the holiday, the Dow slipped 0.6 percent, while the NASDAQ and S&P 500 both fell 0.5 percent.
The energy on Wall Boulevard came as traders got stocks at fairly reduced levels after fresh weakness. Some traders additionally stayed away from their desks after the modern year day holiday on Wednesday.
In US economic papers, the Institute for Supply Management acknowledged that manufacturing output contracted more slowly in December.
Oil prices rose sharply on Friday on optimism over the outlook for new documents showing a drop in U.S. crude inventories. West Texas Intermediate Uncouth crude futures for February were up $0.83, or 1.13pc, at $73.96 a barrel.
The views and opinions expressed herein are those of the author and do not necessarily convey the intentions of Nasdaq, Inc.
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