Win Streak May Continue For Malaysia Stock Market

(RTTNews) - The Malaysia stock market has finished higher in four straight sessions, collecting more than 15 points or 1 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,690-point plateau and it may see additional support on Tuesday.

The global forecast for the Asian markets is upbeat, even though they've already had the chance to respond the easing of tensions in the Middle East. The European markets were mixed and the U.S. bourses were up and the Asian markets are tipped to at least open to the upside.

The KLCI finished modestly higher on Monday following gains from the financial shares and telecoms, while the plantations and industrials were mixed.

For the day, the index added 7.76 points or 0.46 percent to finish at 1,691.39 after trading between 1,688.04 and 1,697.48.

Among the actives, 99 Speed Mart Retail spiked 2.38 percent, while AMMB Holdings jumped 2.05 percent, Axiata accelerated 2.15 percent, Celcomdigi advanced 1.12 percent, CIMB Group soared 4.06 percent, Gamuda elevated 1.64 percent, IHH Healthcare skidded 1.03 percent, IOI Corporation shed 0.48 percent, Kuala Lumpur Kepong sank 0.58 percent, Maxis expanded 1.85 percent, Maybank strengthened 1.87 percent, MISC tumbled 1.23 percent, Nestle Malaysia retreated 1.15 percent, Petronas Chemicals plummeted 15.36 percent, Petronas Dagangan increased 0.55 percent, Petronas Gas added 0.46 percent, PPB Group slumped 1.07 percent, Press Metal plunged 6.35 percent, Public Bank vaulted 1.86 percent, RHB Bank collected 0.48 percent, Sime Darby skyrocketed 6.28 percent, SD Guthrie rose 0.17 percent, Sunway dropped 0.94 percent, Sunway Health improved 0.56 percent, Telekom Malaysia rallied 2.08 percent, Tenaga Nasional gained 0.42 percent, YTL Corporation surged 4.55 percent, YTL Power climbed 1.46 percent and MRDIY was unchanged.

The lead from Wall Street is broadly positive as the major averages opened sharply higher on Monday and remained that way throughout the trading day.

The Dow jumped 468.77 points or 0.92 percent to finish at 51,671.03, while the NASDAQ surged 795.10 points or 3.07 percent to end at 26,683.94 and the S&P 500 rallied 122.83 points or 1.65 percent to close at 7,554.29.

The rally on Wall Street followed news that the U.S. and Iran have reached an agreement to end more than three months of war.

The agreement reportedly extends the U.S.-Iran ceasefire for 60 days, with the countries set to use that window to negotiate over Iran's nuclear enrichment and the disposal of its highly enriched uranium.

Crude oil prices plummeted Monday after the U.S. and Iran reached an agreement to end their conflict and allow the immediate resumption of trade via the Strait of Hormuz. West Texas Intermediate crude for July delivery was down $4.31 or 5.08 percent at $80.57 per barrel.

In U.S. economic news, a report released by the Federal Reserve showed a modest increase in industrial production in the U.S. in May.