A minor birth is predicted for the Malaysian stock market

(RTTNews) – Malaysia’s stock market snapped a three-day losing streak on Tuesday, sliding more than 15 shares, or 0.9 percent. The Kuala Lumpur Composite Index is now effectively below the 1,630 plateau, although it will only peek at renewed selling stiffness on Wednesday.

The global outlook for Asian markets is hurt by renewed concerns about the interest rate outlook. European markets were mixed to hold, with US stocks falling and Asian markets expected to lag the latter.

The KLCI fared marginally better on Tuesday as features in financials, construction and plantation stocks capped weakness in telecoms.

On the day, the index added 4.32 shares, or 0.27 percent, to reach 1,629.99 after trading between 1,624.50 and 1,634.27.

Among actives, ninety-nine stocks Tempo Mart Retail fell 1.65 percent, while Axiata fell 2.49 percent, Celcomdigi rose 0.27 percent, CIMB Crew gained 0.87 percent, Gamuda jumped by 7.00 percent, IHH Healthcare shed 0.96 percent, Kuala Lumpur Kepong and YTL Corporation added. 0.37 percent, Maybank mute 0.59 percent, MISC sank 0.66 percent, Nestle Malaysia fell 0.70 percent, Petronas Chemicals improved 0.41 percent, Petronas Gasoline declined 0.11 percent, Press Metal fell 1.24 percent, QL Sources fell 0.43 percent, RHB Bank rose 0.16 percent, Sime Darby declined 1.29 percent, SD Guthrie rose 2.64 percent, Sunway rose 2.78 percent, Telekom Malaysia lost 0.61 percent, Tenaga Nasional fell 1.78 percent, YTL Energy grew by 1.35 percent, while the share of IOI Corporation, PPB Crew, Maxis, MRDIY and Public Bank remained flat.

The lead from Wall Avenue is gloomy as the major averages started Tuesday a bit better, but the fleet narrowed and took off deep into the purple.

The Dow stumbled 178.20 shares, or 0.42 percent, to settle at 42,528.36, while the NASDAQ tumbled 375.30 shares, or 1.89 percent, to end at 19,489.68 and the S&P 500 fell 66.35 parts or 1.11 percent to a total of 5,909.03.

The stock’s eye-catching pullback came right here amid a must-see rise in Treasury yields, with the yield on the benchmark 10-year bond jumping to its highest closing level in eight months.

The jump in Treasury yields, which raised concerns about the interest rate outlook, came on the heels of some upbeat US economic data.

The Institute for Supply Administration confirmed that stuttering in the US services sector rose better than expected in December. The story also confirmed that the price index rose to a one-year high, prompting concerns that inflation would remain flat. In addition, the Department of Labor confirmed that the number of vacancies in the United States increased without warning in November.

Oil prices edged higher on Tuesday as it looks likely to intervene in current shortages after China decided to cut imports from Iran and Russia, while unusually cold weather in the US also contributed to gains oil prices. West Texas Intermediate crude futures for February delivery were up $0.69, or 0.94 percent, at $74.25 a barrel.

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