Malaysia Shares May Tick Lower Again On Tuesday

(RTTNews) - The Malaysia stock market has finished lower in back-to-back trading days, sinking more than 10 points or 0.6 percent in that span. The Kuala Lumpur Composite Index now sits just beneath the 1,530-point plateau and it may take further damage on Tuesday.

The global forecast for the Asian markets is flat with a touch of weakness ahead of the U.S. interest rate decision later this week. The European markets were down and the U.S. bourses were mixed and flat and the Asian markets figure to split the difference.

The KLCI finished slightly lower again on Monday following mixed performances from the financials, telecoms, plantations and industrials.

For the day, the index dipped 4.38 points or 0.29 percent to finish at 1,529.38 after trading between 1,528.34 and 1,539.38.

Among the actives, 99 Speed Mart Retail shed 0.86 percent, while Celcomdigi declined 1.30 percent, Gamuda dipped 0.19 percent, IOI Corporation spiked 2.12 percent, Kuala Lumpur Kepong sank 0.90 percent, Maxis fell 0.57 percent, MISC added 0.40 percent, Nestle Malaysia surged 2.92 percent, Petronas Chemicals soared 2.27 percent, Petronas Dagangan skidded 1.20 percent, Petronas Gas slid 0.33 percent, PPB Group stumbled 2.32 percent, Press Metal perked 0.19 percent, Public Bank dropped 0.93 percent, QL Resources retreated 1.60 percent, RHB Bank advanced 0.96 percent, Sime Darby lost 0.61 percent, SD Guthrie jumped 1.67 percent, Telekom Malaysia gained 0.30 percent, Tenaga Nasional tumbled 1.76 percent, YTL Corporation slumped 1.21 percent, YTL Power rose 0.24 percent and Axiata, MRDIY, Sunway, IHH Healthcare, Maybank and CIMB Group were unchanged.

The lead from Wall Street is murky as the major averages opened mixed on Monday and finished little changed and on opposite sides of the line.

The Dow slumped 64.36 points or 0.14 percent to finish at 44,837.56, while the NASDAQ gained 70.27 points or 0.33 percent to close at a record high 21,178.58 and the S&P perked 1.13 points or 0.02 percent to end at 6,389.77, also a record.

The modest strength on Wall Street followed news the U.S. and the European Union struck a last-minute trade agreement and reports suggest the U.S. and China are likely to extend their tariff truce for another 90 days.

However, buying interest was subdued ahead of the Federal Reserve's monetary policy announcement later this week. While the Fed is widely expected to leave interest rates unchanged, the announcement could impact the outlook for rates.

The Labor Department's monthly jobs report is also likely to be in focus in the coming days along with earnings news from Magnificent Seven members Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and Meta Platforms (META).

Crude oil price surged on Monday after the US announced a tariff framework agreement with the EU, cooling fears of a big tariff war. West Texas Intermediate crude for September delivery jumped $1.72 or 2.64 percent to $66.88 per barrel.