Stock Market – Malaysia Stock Market May Lengthen Wednesday’s Losses
(RTTNews) – The Malaysia stock market on Wednesday snapped the two-day profitable streak during which it had collected greater than 20 points or 1.2 %. The Kuala Lumpur Composite Index now rests simply beneath the 1,605-point plateau and it may take additional injury on Thursday.
The worldwide forecast for the Asian markets is smooth, with optimism for a Covid-19 vaccine giving option to considerations concerning the surging virus. The European markets had been up and the U.S. bourses had been down and the Asian markets determine to comply with the latter lead.
The KLCI completed barely decrease on Wednesday following losses from the financials, combined performances from the telecoms and glove makers and help from the plantations.
For the day, the index shed 5.40 points or 0.34 % to complete at 1,604.75 after buying and selling between 1,595.09 and 1,611.58. Quantity was 14.414 billion shares worth 5.088 billion ringgit. There have been 731 decliners and 473 gainers.
Among the many actives, MISC plummeted 6.88 %, whereas Dialog Group plunged 3.46 %, Malaysia Airports Holdings tanked 3.45 %, CIMB Group tumbled 2.11 %, RHB Capital skidded 2.08 %, Axiata surged 1.80 %, Petronas Chemical soared 1.50 %, Hartalega Holdings retreated 1.50 %, Tenaga Nasional declined 1.40 %, Kuala Lumpur Kepong spiked 1.39 %, Maxis surrendered 1.35 %, Digi.com gathered 1.23 %, IOI Company perked 0.88 %, Public Bank collected 0.85 %, Maybank sank 0.84 %, Genting dropped 0.48 %, Genting Malaysia added 0.39 %, IHH Healthcare gained 0.37 %, PPB Group shed 0.21 %, Sime Darby Plantations rose 0.19 %, Press Steel elevated 0.16 %, High Glove was up 0.14 % and Petronas Dagangan, Sime Darby and AMMB Holding had been unchanged.
The lead from Wall Street is adverse as stocks opened greater on Wednesday however fell into the pink because the day progressed and ended firmly underneath water.
The Dow dropped 344.93 points or 1.16 % to complete at 29,438.42, whereas the NASDAQ sank 97.74 points or 0.82 % to finish at 11,801.60 and the S&P 500 misplaced 41.74 points or 1.16 % to shut at 3,567.79.
The late-day sell-off on Wall Street got here amid renewed considerations about new restrictions and lockdowns on account of the current surge in coronavirus instances after information confirmed there have been almost 162,000 new instances and 1,707 deaths on Tuesday.
Considerations concerning the financial affect of the lockdowns overshadowed upbeat information relating to the coronavirus vaccine candidate being developed by Pfizer (PFE) and BioNTech (BNTX). The businesses plan to submit a request to the FDA for an Emergency Use Authorization for the vaccine “inside days.”
Crude oil costs moved greater on Wednesday amid expectations that OPEC will lengthen its present manufacturing cuts additional into 2021. West Texas Intermediate Crude oil futures for December had been up $0.39 or 0.9 % to settle at $41.82 a barrel.
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