(RTTNews) – The Malaysia stock market headed south again on Wednesday, 1 session after stopping the two-day slide where it’d stumbled over than 30 points or two percent. The Kuala Lumpur Composite Index currently rests just under the 1,570-point plateau though it figures to rebound higher again on Thursday.
The international prediction for its Asian markets is optimistic and increasing oil prices and optimism for both stimulation. The European along with U.S. markets were up and the Asian bourses figure to follow suit.
The KLCI finished significantly lower on Wednesday after losses from the fiscal stocks and farm stocks.
For the afternoon, the indicator sank 7.81 0 or points.50 per cent to finish at 1,568.13 after trading involving 1,566.87 and 1,579.91. Volume was 15.575 billion shares worth 8.267 billion ringgit. You will find 797 gainers and 390 decliners.
One of the actives, Press Metal jumped 4.25 percentage, while Kuala Lumpur Kepong plummeted 1.90 percent, RHB Capital plunged 1.63 percent, Petronas Chemicals tanked 1.55 percent, Top Glove tumbled 1.48 percent, Sime Darby soared 1.43 percent, IHH Healthcare and IOI Corporation both skidded 1.13 percent, Dialog Group retreated 1.09 percent, CIMB Group declined 0.87 percent, Genting surrendered 0.80 percent, Hartalega Holdings sank 0.70 percent, Malaysia Airports Holdings climbed 0.60 percent, Genting Malaysia dropped 0.45 percent, Maybank shed 0.40 percent, Sime Darby Plantations lost 0.39 percent, Maxis added 0.39 percent, Axiata gained 0.32 percent, MISC fell 0.25 percent, Digi. ) com rose 0.24 percentage, Public Bank eased 0.12 percentage, PPB Group was up 0.11 percent and Tenaga Nasional and AMMB Holdings were unchanged.
The lead from Wall Street is positive as stocks moved mostly higher on Wednesday, extending gains from the previous session as the NASDAQ hit a fresh record closing high.
The Dow jumped 373.05 points or 1.39 percent to finish at 27,201.52, while the NASDAQ added 57.23 points or 0.52 percent to end at 10,998.40 and the S&P 500 rose 21.26 points or 0.64 percent to close at 3,327.77.
The continued strength in the broader markets reflected optimism that lawmakers will eventually reach an agreement on a new coronavirus relief bill after both sides noted progress in talks.
Adding to the positive sentiment, the Institute for Supply Management noted an unexpected acceleration in the pace of growth in service sector activity in July. But traders shrugged off a report from payroll processor ADP showing a slowdown in private sector job growth last month.
Crude oil prices moved higher Wednesday, lifted by data showing a sharp drop in U. ) S. crude inventories last week. West Texas Intermediate Crude oil futures for September ended up $0.49 or 1.2 percentage at $42.19 a barrel.
The views along with opinions expressed herein are also the perspectives and opinions of the author and don’t necessarily represent those of Nasdaq, Inc.