Malaysia Bourse Poised To Snap Losing Streak

(RTTNews) - The Malaysia stock market has moved lower in four straight sessions, slipping more than a dozen points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,435-point plateau although it's expected to halt its slide on Wednesday.

The global forecast for the Asian markets is positive on bargain hunting and earnings news. The European and U.S. markets were up and the Asian markets are expected to follow that lead.

The KLCI finished slightly lower again on Tuesday following mixed performances from the financial shares, plantation stocks and telecoms.

For the day, the index eased 2.47 points or 0.17 percent to finish at 1,435.65 after trading between 1,430.15 and 1,440.28.

Among the actives, Celcomdigi tumbled 1.43 percent, while CIMB Group collected 0.35 percent, Dialog Group jumped 1.88 percent, Genting climbed 0.75 percent, Genting Malaysia gained 0.42 percent, IHH Healthcare slumped 0.67 percent, IOI Corporation declined 1.28 percent, MRDIY dropped 0.66 percent, Maybank fell 0.33 percent, Petronas Chemicals rallied 1.13 percent, PPB Group retreated 1.41 percent, Press Metal stumbled 1.23 percent, Public Bank sank 0.48 percent, Sime Darby added 0.44 percent, Westports Holdings advanced 0.61 percent and Sime Darby Plantations, Telekom Malaysia, Tenaga Nasional, MISC, Maxis, Axiata, Kuala Lumpur Kepong and RHB Capital were unchanged.

The lead from Wall Street is upbeat as the major averages opened higher on Tuesday and remained in the green throughout the session.

The Dow jumped 204.97 points or 0.62 percent to finish at 33,141.38, while the NASDAQ gained 121.55 points or 0.93 percent to end at 13,139.88 and the S&P 500 added 30.64 points or 0.73 percent to close at 4,247.68.

The strength on Wall Street reflected a positive reaction to the latest batch of earnings news, as a number of big-name companies reported better than expected quarterly results, including General Electric (GE), 3M Co. (MMM) and Coca-Cola (KO).

Crude oil prices fell sharply Tuesday, extending losses to a third straight session amid concerns about the outlook for energy demand, while the dollar's rally also weighed. West Texas Intermediate Crude oil futures for December sank $1.75 or 2.1 percent at $83.74 a barrel.