Malaysia Bourse Tipped To Open In The Green

(RTTNews) - The Malaysia stock market has finished lower in four straight sessions, slumping more than 15 points or 1 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,455-point plateau, although it's due for support on Tuesday.

The global forecast for the Asian markets is positive, mostly on bargain hunting following heavy selling last week. The European and U.S. markets were up and the Asian bourses figure to follow suit.

The KLCI finished barely lower on Monday as losses from the plantations and telecoms were mitigated by support from the financial sector. For the day, the index eased 1.30 points or 0.09 percent to finish at 1,455.50 after trading between 1,447.55 and 1,458.18. Among the actives, Axiata dipped 0.31 percent, while CIMB Group spiked 1.28 percent, Dialog Group jumped 0.87 percent, Digi.com tumbled 1.15 percent, Genting was down 0.21 percent, IHH Healthcare plunged 1.86 percent, INARI tanked 1.22 percent, IOI Corporation sank 0.80 percent, Kuala Lumpur Kepong retreated 1.14 percent, Maybank perked 0.11 percent, Maxis rose 0.25 percent, MISC slid 0.40 percent, MRDIY lost 0.60 percent, Petronas Chemicals and Sime Darby Plantations both shed 0.69 percent, Press Metal declined 0.96 percent, Public Bank collected 0.48 percent, RHB Capital surged 2.37 percent, Sime Darby fell 0.43 percent, Telekom Malaysia plummeted 2.77 percent, Tenaga Nasional dropped 0.82 percent and Genting Malaysia, PPB Group and Nestle were unchanged.

The lead from Wall Street suggests mild upside as the major averages opened sharply higher on Monday, faded as the day progressed but still finished with modest gains.

The Dow added 72.17 points or 0.22 percent to finish at 32,889.09, while the NASDAQ advanced 72.04 points or 0.63 percent to close at 11,466.98 and the S&P 500 rose 12.20 points or 0.31 percent to end at 3,982.24.

The early rally on Wall Street reflected bargain hunting as some traders looked to pick up stocks at reduced levels following the steep drop last week.

However, buying interest waned over the course of the session as traders expressed concerns about the outlook for interest rates as recent economic data has led to worries the Federal Reserve will raise rates more than anticipated.

In economic news, the Commerce Department noted a sharp pullback in new orders for durable goods in January. Also, the National Association of Realtors said pending home sales in the U.S. spiked by more than expected in January.

Crude oil prices pulled back Monday, handing back recent gains on concerns that higher interest rates will tip the global economy into a recession. West Texas Intermediate crude for April delivery slid $0.64 or 0.8 percent to $75.68 a barrel.