(RTTNews) – The Malaysia stock market on Friday wrote a finish to the five-day winning streak in which it had gained more than 45 points or 2.7 percent. The Kuala Lumpur Composite Index now sits just above the 1,710-point plateau and the losses may accelerate on Monday.
The global forecast is soft amidst ambiguity over the outlook for interest rates and ongoing geopolitical issues. The European and U.S. markets were slightly lower and the Asian bourses are expected to follow that lead.
The KLCI finished slightly lower on Friday following losses from the plantations and mixed performances from the financial shares and telecoms.
For the day, the index dipped 2.42 points or 0.14 percent to finish at 1,712.74 after trading between 1,708.03 and 1,721.48.
Among the actives, 99 Speed Mart Retail slumped 1.03 percent, while Axiata gained 0.40 percent, Celcomdigi gathered 0.29 percent, CIMB Group sank 0.47 percent, Gamuda slipped 0.21 percent, IHH Healthcare dropped 0.59 percent, Kuala Lumpur Kepong stumbled 2.63 percent, Maxis perked 0.25 percent, Maybank collected 0.54 percent, MISC skidded 0.76 percent, MRDIY advanced 0.58 percent, Petronas Chemicals fell 0.30 percent, Petronas Dagangan slid 0.19 percent, Petronas Gas rose 0.32 percent, PPB Group retreated 1.43 percent, Press Metal jumped 0.83 percent, Public Bank lost 0.42 percent, QL Resources surged 2.74 percent, RHB Bank added 0.49 percent, Sime Darby tumbled 1.90 percent, SD Guthrie and Sunway both eased 0.18 percent, Telekom Malaysia declined 0.90 percent, Tenaga Nasional shed 0.43 percent, YTL Corporation rallied 0.89 percent, YTL Power expanded 0.85 percent and AMMB Holdings, IOI Corporation and Nestle Malaysia were unchanged.
The lead from Wall Street is weak as the major averages opened higher on Friday but quickly faded, hugging both sides of the line before ending slightly lower.
The Dow shed 83.07 points or 0.17 percent to finish at 49,359.33, while the NASDAQ slipped 14.61 points or 0.06 percent to close at 23,515.39 and the S&P 500 fell 4.46 points or 0.06 percent to end at 6,940.01. For the week, the NASDAQ slid 0.7 percent, the S&P dipped 0.4 percent and the Dow eased 0.03 percent.
The choppy trading on Wall Street followed remarks from President Donald Trump suggesting National Economic Council Director Kevin Hassett may not be his choice to become the next Federal Reserve chair.
Hassett had been seen as the frontrunner to replace Fed Chair Jerome Powell, whose term expires in May, but predictions now show former Fed Governor Kevin Warsh has surged into the lead following Trump’s remarks – causing some uncertainty about the outlook for interest rates.
Trump’s threats to take control of Greenland continue to attract attention, with the president suggesting he may impose tariffs on countries that don’t go along with his plans for the territory.
Crude oil moved higher on Friday as traders weighed the continuing risks after reports that the U.S. is consolidating its forces in the Middle East. West Texas Intermediate crude for February delivery was up $0.40 or 0.68 percent at $59.59 per barrel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
(RTTNews) – The Malaysia stock market on Friday wrote a finish to the five-day winning streak in which it had gained more than 45 points or 2.7 percent. The Kuala Lumpur Composite Index now sits just above the 1,710-point plateau and the losses may accelerate on Monday.
The global forecast is soft amidst ambiguity over the outlook for interest rates and ongoing geopolitical issues. The European and U.S. markets were slightly lower and the Asian bourses are expected to follow that lead.
The KLCI finished slightly lower on Friday following losses from the plantations and mixed performances from the financial shares and telecoms.
For the day, the index dipped 2.42 points or 0.14 percent to finish at 1,712.74 after trading between 1,708.03 and 1,721.48.
Among the actives, 99 Speed Mart Retail slumped 1.03 percent, while Axiata gained 0.40 percent, Celcomdigi gathered 0.29 percent, CIMB Group sank 0.47 percent, Gamuda slipped 0.21 percent, IHH Healthcare dropped 0.59 percent, Kuala Lumpur Kepong stumbled 2.63 percent, Maxis perked 0.25 percent, Maybank collected 0.54 percent, MISC skidded 0.76 percent, MRDIY advanced 0.58 percent, Petronas Chemicals fell 0.30 percent, Petronas Dagangan slid 0.19 percent, Petronas Gas rose 0.32 percent, PPB Group retreated 1.43 percent, Press Metal jumped 0.83 percent, Public Bank lost 0.42 percent, QL Resources surged 2.74 percent, RHB Bank added 0.49 percent, Sime Darby tumbled 1.90 percent, SD Guthrie and Sunway both eased 0.18 percent, Telekom Malaysia declined 0.90 percent, Tenaga Nasional shed 0.43 percent, YTL Corporation rallied 0.89 percent, YTL Power expanded 0.85 percent and AMMB Holdings, IOI Corporation and Nestle Malaysia were unchanged.
The lead from Wall Street is weak as the major averages opened higher on Friday but quickly faded, hugging both sides of the line before ending slightly lower.
The Dow shed 83.07 points or 0.17 percent to finish at 49,359.33, while the NASDAQ slipped 14.61 points or 0.06 percent to close at 23,515.39 and the S&P 500 fell 4.46 points or 0.06 percent to end at 6,940.01. For the week, the NASDAQ slid 0.7 percent, the S&P dipped 0.4 percent and the Dow eased 0.03 percent.
The choppy trading on Wall Street followed remarks from President Donald Trump suggesting National Economic Council Director Kevin Hassett may not be his choice to become the next Federal Reserve chair.
Hassett had been seen as the frontrunner to replace Fed Chair Jerome Powell, whose term expires in May, but predictions now show former Fed Governor Kevin Warsh has surged into the lead following Trump’s remarks – causing some uncertainty about the outlook for interest rates.
Trump’s threats to take control of Greenland continue to attract attention, with the president suggesting he may impose tariffs on countries that don’t go along with his plans for the territory.
Crude oil moved higher on Friday as traders weighed the continuing risks after reports that the U.S. is consolidating its forces in the Middle East. West Texas Intermediate crude for February delivery was up $0.40 or 0.68 percent at $59.59 per barrel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
