Malaysia Stock Market Due For Positive Bounce
RTTNews The Malaysia stock market has moved lower in back-to-back sessions, sliding almost 6 points or 0.4 percent in that span. The Kuala Lumpur Composite Index now sits just beneath the 1,455-point plateau although it may find support on Monday.
The global forecast for the Asian markets is cautiously optimistic, with bargain hunting expected to support the more oversold bourses. The European and U.S. markets were up and the Asian markets figure to open in similar fashion.
The KLCI finished modestly lower on Friday following losses from the financial shares, plantation stocks and telecoms.
For the day, the index dipped 5.12 points or 0.35 percent to finish at 1,454.95 after trading between 1,454.70 and 1,460.23.
Among the actives, Axiata stumbled 0.81 percent, while Celcomdigi slumped 0.68 percent, CIMB Group declined 0.87 percent, Dialog Group plummeted 3.67 percent, Genting and Petronas Gas both slid 0.23 percent, IHH Healthcare dipped 0.17 percent, Kuala Lumpur Kepong skidded 0.66 percent, Maxis jumped 1.70 percent, Maybank lost 0.33 percent, MISC fell 0.28 percent, MRDIY rallied 1.33 percent, PPB Group retreated 0.88 percent, Press Metal dropped 0.61 percent, RHB Capital sank 0.35 percent, Sime Darby added 0.46 percent, Sime Darby Plantations tumbled 1.38 percent, Telekom Malaysia advanced 0.78 percent, Tenaga Nasional eased 0.10 percent, Westports Holdings plunged 2.04 percent and Petronas Chemicals, Public Bank, AMMB Holdings, IOI Corporation, Genting Malaysia, Nestle Malaysia and Hong Leong Bank were unchanged.
