Win Streak May Continue For Malaysia Stock Market

RTTNews | 9h 2min ago
Win Streak May Continue For Malaysia Stock Market

(RTTNews) - The Malaysia stock market has finished higher in four straight sessions, collecting more than 30 points or 2 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,630-point plateau and it may add to its winnings on Thursday.

The global forecast for the Asian markets is upbeat following a clear result in the U.S. presidential election. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The KLCI finished modestly higher on Wednesday following mixed performances from the industrials, financials, plantations and telecoms.

For the day, the index advanced 13.47 points or 0.83 percent to finish at the daily high of 1,634.17 after moving as low as 1,623.52.

Among the actives, Axiata stumbled 1.69 percent, while CIMB Group climbed 0.99 percent, Genting increased 0.75 percent, Genting Malaysia improved 0.88 percent, IHH Healthcare dropped 0.68 percent, Kuala Lumpur Kepong lost 0.36 percent, Maxis plunged 3.22 percent, Maybank collected 0.57 percent, MISC jumped 1.83 percent, MRDIY gained 0.45 percent, Nestle Malaysia was up 0.10 percent, Petronas Chemicals sank 0.60 percent, PPB Group added 0.55 percent, Press Metal spiked 3.86 percent, Public Bank strengthened 1.35 percent, QL Resources fell 0.21 percent, RHB Bank dipped 0.16 percent, Sime Darby shed 0.42 percent, SD Guthrie slumped 0.99 percent, Sunway accelerated 3.84 percent, Telekom Malaysia rose 0.15 percent, Tenaga Nasional rallied 2.13 percent, YTL Corporation surged 5.71 percent, YTL Power soared 3.98 percent and Celcomdigi, IOI Corporation and Hong Leong Bank were unchanged.

The lead from Wall Street is broadly positive as the major averages opened higher and only accelerated as the day progressed, ending at session highs.

The Dow surged 1,508.05 points or 3.57 percent to finish at 43,729.93, while the NASDAQ rallied 544.29 points or 2.95 percent to close at 18,983.46 and the S&P 500 spiked 146.28 points or 2.53 percent to end at 5,929.04.

The extended rally on Wall Street came after former President Trump was declared the winner in the presidential election versus Vice President Kamala Harris.

The decisive victory helped avoid the uncertainty that would be created by a prolonged vote counting process and potential legal challenges.

Traders will turn their attention to the Federal Reserve, which is due to announce its latest monetary policy decision later today. The Fed is widely expected to lower interest rates by 25 basis points, but the accompanying statement could the impact the outlook for future rate cuts.

Oil prices drifted lower on Wednesday after data showed crude inventories in the U.S. rose more than expected last week, while a stronger dollar also weighed. West Texas Intermediate Crude oil futures for December closed down $0.30 or 0.42 percent at $71.69 a barrel.

read more
Japanese Market Notably Lower

Japanese Market Notably Lower

Reversing the gains in the previous two sessions, the Japanese stock market is notably lower on Thursday after opening in the green, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling well below the 39,300 level, with weakness in index heavyweights and technology stocks partially offset by gains in exporters and financial stocks.
RTTNews | 6h 2min ago
Thai Shares Tipped To Bounce Higher Again On Thursday

Thai Shares Tipped To Bounce Higher Again On Thursday

The Thai stock market turned lower again on Wednesday, one day after snapping the two-day slide in which it had eased just over 3 points or 0.2 percent. The Stock Exchange of Thailand now sits just above the 1,465-point plateau although it's expected to rebound on Thursday.
RTTNews | 6h 32min ago
Indonesia Bourse Likely To Reclaim 7,400-Point Level

Indonesia Bourse Likely To Reclaim 7,400-Point Level

The Indonesia stock market headed south again on Wednesday, one day after ending the two-day slide in which it had slumped almost 100 points or 1.4 percent. The Jakarta Composite Index now rests just above the 7,380-point plateau although it's likely to see renewed support on Thursday.
RTTNews | 7h 2min ago
Australian Market Notably Lower

Australian Market Notably Lower

The Australian stock market is trading notably lower on Thursday after opening in the green, reversing the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,200 level, with weakness in gold miners and financial stocks.
RTTNews | 7h 6min ago
Higher Open Expected For Hong Kong Stock Market

Higher Open Expected For Hong Kong Stock Market

The Hong Kong stock market on Wednesday snapped the three-day winning streak in which it had surged almost 700 points or 3.4 percent. The Hang Seng Index now sits just above the 20,530-point plateau and it's got a positive lead again for Thursday's trade.
RTTNews | 7h 17min ago
Rebound Predicted For China Stock Market

Rebound Predicted For China Stock Market

The China stock market on Wednesday ended the two-day winning streak in which it had spiked more than 110 points or 3.3 percent. The Shanghai Composite now sits just beneath the 3,385-point plateau although it's expected to bounce higher again on Thursday.
RTTNews | 7h 32min ago
Australia Building Approvals Rise 4.4% In September

Australia Building Approvals Rise 4.4% In September

The total number of building approvals issued in September was up a seasonally adjusted 4.4 percent on month, the Australian Bureau of Statistics said on Friday - coming in at 14,842.
RTTNews | 7h 49min ago