Malaysia Stock Market May Open To The Upside

(RTTNews) - The Malaysia stock market has tracked higher in two straight sessions, collecting more than 20 points or 1.2 percent in that span. The Kuala Lumpur Composite Index now sits just beneath the 1,680-point plateau and it may add to its winnings on Monday.

The global forecast for the Asian markets is flat to higher on easing Middle East tensions and hopes that the Federal Reserve will not tighten its monetary policy for now. The European markets were up and the U.S. bourses were closed for Independence Day, and the Asian markets are expected to tick higher as well.

The KLCI finished sharply higher on Friday following gains from the financial shares, telecoms and plantations.

For the day, the index climbed 17.22 points or 1.04 percent to finish at 1,679.05 after trading between 1,662.91 and 1,682.62.

Among the actives, 99 Speed Mart Retail rallied 2.21 percent, while AMMB Holdings vaulted 1.25 percent, Axiata elevated 1.94 percent, Celcomdigi surged 3.96 percent, CIMB Group jumped 2.01 percent, Gamuda shed 0.48 percent, IHH Healthcare dipped 0.24 percent, IOI Corporation climbed 1.18 percent, Kuala Lumpur Kepong soared 3.53 percent, Maxis fell 0.29 percent, Maybank collected 0.56 percent, MISC strengthened 1.97 percent, MRDIY expanded 1.21 percent, Nestle Malaysia sank 0.87 percent, Petronas Chemicals skyrocketed 5.06 percent, Petronas Dagangan added 0.84 percent, Petronas Gas gained 0.69 percent, PPB Group and Hong Leong Bank both accelerated 2.25 percent, Press Metal spiked 2.52 percent, Public Bank increased 1.03 percent, RHB Bank gathered 0.24 percent, Sunway Health advanced 1.08 percent, Telekom Malaysia improved 1.07 percent, Tenaga Nasional perked 0.14 percent, YTL Power rose 0.68 percent and SD Guthrie, Sunway, YTL Corporation and IOI Properties were unchanged.

There is no lead from Wall Street, but the major European markets saw modest gains thanks to easing Middle East tensions.

The UK's FTSE 100 gained 0.25%, Germany's DAX and France's CAC 40 moved up 0.78% and 0.39%, respectively. Switzerland's SMI closed 0.5% up.

Germany's DAX hit a new all-time high, while France's CAC 40 climbed to its best levels since February 2026.

Disappointing U.S. employment data also gave the markets a lift as it fueled hopes that the Federal Reserve may not tighten its monetary policy in the near future.

Oil prices held steady on Friday but headed for their fourth straight weekly loss on eased concerns over supply disruptions in the Middle East. West Texas Intermediate crude for August delivery edged up 0.2 percent to $68.84 per barrel.