Little Movement Expected For Malaysia Stock Market

(RTTNews) - The Malaysia stock market has moved lower in back-to-back sessions, slipping more than a dozen points or 0.7 percent along the way. The Kuala Lumpur Composite Index now sits just beneath the 1,700-point plateau and it's likely to remain in that neighborhood again on Monday.

The global forecast for the Asian markets is lean on catalysts as many of the markets around the world were closed for Good Friday. Stubbornly high oil prices and continued conflict in the Middle East deal the Asian markets a soft lead for Monday.

The KLCI finished slightly lower on Friday following losses from the financial shares, gains from the industrials and mixed performances from the plantations and telecoms.

For the day, the index dipped 2.80 points or 0.16 percent to finish at 1,695.50 after trading between 1,693.65 and 1,708.12. Among the actives, 99 Speed Mart Retail tumbled 1.82 percent, while AMMB Holdings plunged 3.08 percent, Axiata shed 0.44 percent, Celcomdigi jumped 1.67 percent, CIMB Group retreated 1.32 percent, Gamuda added 0.52 percent, IOI Corporation dropped 0.93 percent, Kuala Lumpur Kepong soared 4.57 percent, Maxis climbed 1.14 percent, Maybank stumbled 1.75 percent, MISC gained 0.36 percent, MRDIY sank 0.66 percent, Nestle Malaysia vaulted 1.36 percent, Petronas Chemicals declined 1.17 percent, Petronas Dagangan improved 0.57 percent, Petronas Gas expanded 1.33 percent, PPB Group fell 0.33 percent, Press Metal rallied 1.66 percent, Public Bank slumped 1.06 percent, RHB Bank tanked 2.58 percent, Sime Darby plummeted 3.10 percent, SD Guthrie advanced 0.81 percent, Sunway Healthcare skidded 1.00 percent, Telekom Malaysia spiked 2.68 percent, Tenaga Nasional rose 0.29 percent, YTL Corporation surged 7.43 percent, YTL Power skyrocketed 9.69 percent and IHH Healthcare and Sunway were unchanged.

There is no lead from Wall Street as the markets were shuttered for Good Friday.

Tensions remain high as the conflict in the Middle East wraps up its fifth week, with no end in sight. Reports of a U.S. jet downed in Iranian territory have compounded the chaos in the region.

The resulting surge in crude oil prices continues, with the commodity over $112 per barrel at last report as Iran maintains control of the Strait of Hormuz.

Limiting the downside, the Labor Department said on Friday that employment in the U.S. jumped more than expected in March, while the jobless rate eased to 4.3 percent from 4.4 percent.