Malaysia Stock Market Tipped To Open In The Green

(RTTNews) - The Malaysia stock market on Friday snapped the two-day slide in which it had dipped almost 5 points or 0.3 percent. The Kuala Lumpur Composite Index now sits just above the 1,415-point plateau and it may add to its winnings on Monday.

The global forecast for the Asian markets is murky, with solid market leads offset by the violent conflict between Israel and Hamas that erupted over the weekend. The European and U.S. markets were up and the Asian markets may follow suit.

The KLCI finished slightly higher on Friday following mixed performances from the financial shares, plantation stocks and telecoms.

For the day, the index rose 1.28 points or 0.09 percent to finish at 1,416.88 after trading between 1,415.28 and 1,419.96.

Among the actives, Axiata plunged 2.43 percent, while Celcomdigi surged 1.65 percent, CIMB Group and QL Resources both gathered 0.18 percent, Dialog Group shed 0.49 percent, Genting advanced 0.49 percent, Genting Malaysia and Telekom Malaysia both gained 0.41 percent, IHH Healthcare rose 0.34 percent, Kuala Lumpur Kepong eased 0.09 percent, Maxis improved 0.25 percent, Maybank perked 0.11 percent, MISC fell 0.14 percent, MRDIY sank 0.65 percent, PPB Group plummeted 3.12 percent, Press Metal soared 1.29 percent, Public Bank lost 0.25 percent, RHB Capital rallied 0.73 percent, Sime Darby and Petronas Dagangan both added 0.45 percent, Sime Darby Plantations increased 0.23 percent, Tenaga Nasional climbed 0.60 percent, Westports Holdings jumped 1.26 percent and IOI Corporation and Petronas Chemicals were unchanged.

The lead from Wall Street is upbeat as the major averages shook off early weakness on Friday, quickly moved higher and finished well in the green.

The Dow surged 287.98 points or 0.87 percent to finish at 33,407.58, while the NASDAQ soared 211.54 points or 1.60 percent to end at 13,431.34 and the S&P 500 rallied 50.31 points or 1.18 percent to close at 4,308.50.

For the week, the NASDAQ jumped 1.6 percent, the S&P added 0.5 percent and the Dow dipped 0.3 percent.

The early weakness on Wall Street followed the release of a Labor Department report showing employment in the U.S. surged much more than expected in September.

The report triggered a spike by treasury yields amid renewed concerns about the outlook for interest rates, with yields once again soaring to their highest levels in over 16 years. But treasury yields pulled back as the day progressed, fueling the subsequent rebound on Wall Street.

Crude oil prices climbed higher Friday following recent losses, after data showed stronger than expected growth in U.S. non-farm payroll employment in September. West Texas Intermediate Crude oil futures for November added $0.48 or 0.6 percent at $82.79 a barrel. But WTI crude futures shed 9 percent in the week.