Renewed Selling Pressure Expected For Malaysia Stock Market

RTTNews | 16h 18min ago
Renewed Selling Pressure Expected For Malaysia Stock Market

(RTTNews) - The Malaysia stock market on Thursday halted the five-day losing streak in which it had plummeted more than 80 points or 5.3 percent. The Kuala Lumpur Composite Index now sits just above the 1,510-point plateau although it figures to head south again on Friday.

The global forecast for the Asian markets is soft thanks to ongoing tariff concerns and their effect on the world economy. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.

The KLCI finished sharply higher on Thursday following bargain hunting among the financial shares, telecoms, plantations and industrials.

For the day, the index rallied 25.20 points or 1.70 percent to finish at 1,510.03 after trading between 1,487.00 and 1,513.97.

Among the actives, 99 Speed Mart Retail climbed 1.52 percent, while Axiata surged 4.52 percent, CIMB Group soared 3.57 percent, Gamuda accelerated 3.45 percent, IHH Healthcare gathered 0.14 percent, Kuala Lumpur Kepong perked 0.10 percent, Maxis rose 0.62 percent, Maybank increased 1.18 percent, MISC fell 0.29 percent, MRDIY advanced 1.50 percent, Petronas Chemicals jumped 2.19 percent, Petronas Gas slumped 1.89 percent, PPB Group shed 0.34 percent, Press Metal strengthened 1.86 percent, Public Bank spiked 3.46 percent, QL Resources skidded 1.06 percent, RHB Bank collected 0.44 percent, Sime Darby sank 0.49 percent, SD Guthrie improved 1.26 percent, Sunway skyrocketed 5.76 percent, Telekom Malaysia stumbled 2.84 percent, Tenaga Nasional rallied 3.08 percent, YTL Corporation added 1.11 percent, YTL Power gained 0.67 percent and Celcomdigi, IOI Corporation and Nestle Malaysia were unchanged.

The lead from Wall Street is negative as the major averages opened in the red and continued to track lower throughout the session.

The Dow tumbled 537.36 points or 1.30 percent to finish at 40,813.57, while the NASDAQ dropped 345.44 points or 1.96 percent to close at 17.303.01 and the S&P 500 sank 77.78 points or 1.39 percent to end at 5,521.52.

The sell-off on Wall Street came amid ongoing concerns about President Donald Trump's trade policies after he suggested the U.S. would respond to the European Union's countermeasures with even more tariffs.

In economic news, the Labor Department said producer prices in the U.S. were unexpectedly flat in February. Also, the Labor Department unexpectedly saw a modest decrease by first-time claims for U.S. unemployment benefits last week.

Oil prices fell on Thursday amid prospects of excess supply in the market, and on concerns about the outlook for demand. West Texas Intermediate Crude oil futures for April ended lower by $1.13 or 1.7 percent at $66.55 a barrel.

read more
FTSE 100 Advances Despite Weak GDP Data

FTSE 100 Advances Despite Weak GDP Data

Despite data showing an unexpected contraction in the nation's GDP in the month of January, U.K. stocks are up in positive territory on Friday, tracking cues from other major European markets. Bank and mining stocks are among the prominent gainers.
RTTNews | 4h 12min ago
BMW Q4 Results Down, Cuts Dividend; Sees Flat Earnings, Higher Volume In FY25

BMW Q4 Results Down, Cuts Dividend; Sees Flat Earnings, Higher Volume In FY25

German luxury automaker BMW Group reported Friday lower profit and revenues in its fourth quarter hit mainly by weak Automotive deliveries, despite growth in Rolls-Royce. The company also trimmed its dividend, and issued fiscal 2025 outlook, expecting stable Group earnings before taxes, but slight growth in sales volume amid continuing subdued demand in the Chinese market.
RTTNews | 4h 31min ago
Pound Slides On Weak UK GDP Data

Pound Slides On Weak UK GDP Data

The British pound weakened against most major currencies in the European session on Friday, after U.K. economy logged an unexpected contraction at the start of the year on a sharp fall in production.
RTTNews | 4h 40min ago
CAC Moderately Higher In Cautious Trade

CAC Moderately Higher In Cautious Trade

French stocks are up in positive territory a little past noon on Friday, led by gains financials and luxury sectors. The mood remains cautious amid escalating trade war tensions. Slight optimism about a ceasefire in Ukraine is aiding sentiment.
RTTNews | 4h 57min ago
DAX Climbs Higher; Adidas, Daimler Among Notable Gainers

DAX Climbs Higher; Adidas, Daimler Among Notable Gainers

German stocks are up firmly in positive territory a little past noon on Friday, despite rising trade tensions, and uncertainty surrounding the nation's spending plans. Investors are digesting the nation's inflation data and some corporate earnings updates.
RTTNews | 5h 25min ago
UK Economy Contracts Unexpectedly On Weaker Production

UK Economy Contracts Unexpectedly On Weaker Production

The UK economy logged an unexpected contraction at the start of the year on a sharp fall in production, official data revealed on Friday. Gross domestic product shrank 0.1 percent on a monthly basis in January, following a growth of 0.4 percent in December, the Office for National Statistics reported. GDP was expected to grow 0.1 percent.
RTTNews | 7h 5min ago