Little Movement Expected For Malaysia Stock Market

(RTTNews) - The Malaysia stock market has moved lower in three straight sessions, slipping almost 10 points or 0.7 percent along the way. The Kuala Lumpur Composite Index now sits just beneath the 1,440-point plateau and it may remain stuck in neutral again on Tuesday. The global forecast offers little clarity with few catalysts head of data later in the week, although treasury yields continue to be active. The European and U.S. markets were mixed and flat and the Asian markets figure to follow suit.

The KLCI finished slightly lower again on Monday following losses from the telecoms and plantations, while the financial shares came in mixed.

For the day, the index dipped 2.92 points or 0.20 percent to finish at 1,438.12 after trading between 1,435.05 and 1,443.86.

Among the actives, Axiata retreated 0.82 percent, while Celcomdigi plummeted 2.10 percent, CIMB Group advanced 0.71 percent, Dialog Group added 0.47 percent, Genting slumped 0.74 percent, Genting Malaysia declined 1.23 percent, IOI Corporation sank 0.51 percent, Maxis tumbled 1.50 percent, MRDIY plunged 1.95 percent, Petronas Chemicals tanked 1.81 percent, Press Metal skidded 0.61 percent, Public Bank collected 0.48 percent, RHB Capital dropped 0.54 percent, Sime Darby gained 0.44 percent, Sime Darby Plantations shed 0.47 percent, Telekom Malaysia lost 0.39 percent, Tenaga Nasional rose 0.31 percent, Westports Holdings rallied 1.23 percent and PPB Group, Maybank, MISC, IHH Healthcare and Kuala Lumpur Kepong were unchanged.

The lead from Wall Street is murky as the major averages opened lower on Monday, broke into the green my midday before fading and ending mixed and little changed.

The Dow slumped 190.87 points or 0.58 percent to finish at 32,936.41, while the NASDAQ added 34.52 points or 0.27 percent to close at 13,018.33 and the S&P 500 slipped 7.12 points or 0.17 percent to end at 4,217.04.

Stocks initially came under pressure as treasury yields rebounded amid ongoing concerns about the outlook for interest rates. Following the pullback seen last Friday, the yield on the benchmark 10year note moved back to the upside, briefly peeking above the key 5 percent level.

The subsequent turnaround on Wall Street came as treasury yields turned lower as the day progressed, with the ten-year yield falling into negative territory.

Trading activity was subdued, however, thanks to a lack of major U.S. economic data - although the calendar picks up later in the week. The earnings season also should be a factor, with a slew of big-name companies due to report their quarterly results.

Crude oil prices fell sharply on Monday amid easing concerns about oil supply on hopes the diplomatic efforts in the Middle East will help prevent the conflict there from escalating into a bigger regional war. West Texas Intermediate Crude oil futures for November settled at $85.49, down $2.59 or about 2.94 percent.