(RTTNews) – The Malaysian stock market has alternated between positive and negative results over the past six trading days since ending a two-day winning streak in which it had picked up more than 7 points or 0, 5%. The Kuala Lumpur Composite Index is now just above the 1,435-point plateau and it could add to its gains on Thursday.
Global forecasts for Asian markets are optimistic, with tech stocks expected to lead higher. European and American markets were up and Asian markets are expected to open similarly.
KLCI ended slightly higher on Wednesday as gains in plantations and industrials were limited by weakness in glove makers and a mixed picture in financials.
For the day, the index added 8.22 points or 0.58% to end at 1,436.98 after trading between 1,430.02 and 1,438.37. The volume was 2.466 billion shares worth 1.409 billion ringgit. There were 602 winners and 271 decliners.
Among assets, Petronas Chemicals jumped 3.01%, while Top Glove fell 2.94%, Petronas Gas climbed 2.78%, Press Metal climbed 2.38%, INARI accelerated by 2.30%, Hartalega Holdings plunged 2.18% Digi.com rebounded 2.06%, Sime Darby fell 1.75%. %, Maxis jumped 1.50%, Kuala Lumpur Kepong strengthened 1.32%, Axiata climbed 1.13%, RHB Capital rose 1.06%, Dialog Group improved by 1.00%, Hong Leong Financial fell 0.76%, Public Bank collected 0.68%, IOI Corporation gained 0.51%, PPB Group fell 0.49%, MRDIY gained 0.48 %, Maybank rose 0.47%, Genting lost 0.44%, Tenaga Nasional gained 0.38%, Telekom Malaysia fell 0.36%, Genting Malaysia rose 0.35%, Sime Darby Plantations rose 0.24%, CIMB Group fell 0.20%. percent, IHH Healthcare rose 0.16 percent, MISC fell 0.14 percent, and Petronas Dagangan and Hong Leong Bank were unchanged.
Wall Street’s advance is positive as major averages opened mixed and stayed that way for much of the session before a late rally propelled them all into the green at the close.
The Dow Jones added 47.79 points or 0.15% to end at 31,874.84, while the NASDAQ jumped 184.50 points or 1.58% to end at 11,897.65 and the S&P 500 rose. rose 23.21 points or 0.59% to close at 3,959.90.
The NASDAQ jump reflected strength in tech stocks, which came amid a positive reaction to Netflix (NFLX) earnings news. Semiconductor stocks also performed strongly on the day, with the Philadelphia Semiconductor Index climbing 2.5%.
On the other hand, gold stocks were under pressure during the session, dragging the NYSE Arca Gold Bugs Index up 3.1%. The weakness in gold stocks came as the price of gold for August delivery fell $10.50 to $1,700.20 an ounce.
In US economic news, the National Association of Realtors reported that sales of existing homes fell far more than expected in June.
Crude oil futures stabilized on Wednesday on concerns about the outlook for gasoline demand during the summer driving season. West Texas Intermediate crude oil futures for August ended down $1.96 or 1.9% at $102.26 a barrel on expiry day.
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