(RTTNews) – The Malaysian stock market traded lower again on Tuesday, one session after ending a two-day dip that saw it fall almost 6 points or 0.4 percent. The Kuala Lumpur Composite Index is now just below the 1,455-point plateau and could suffer further damage on Wednesday.
The global forecast for Asian markets is mixed to lower ahead of key US inflation data later today. European markets were mixed and US markets fell, with Asian markets splitting the difference.
The KLCI ended slightly lower on Tuesday after mixed performances from the financial and telecom sectors, while plantations provided support.
For the day, the index fell 1.65 points or 0.11 percent to end at 1,453.39, after trading between 1,448.41 and 1,454.32.
Among active companies, Axiata rose 0.82 percent, while Celcomdigi and IHH Healthcare both added 0.68 percent, CIMB Group fell 0.18 percent, Genting gained 0.24 percent, Genting Malaysia gained 0.40 percent, IOI Corporation rose 0.25 percent, Kuala Lumpur Kepong rose 1.42 percent, Maybank fell 0.22 percent, MISC fell 0.28 percent, Petronas Chemicals tumbled 3.18 percent, PPB Group climbed 1.15 percent, RHB Capital rallied 0.35 percent, Sime Darby lost 0.46 percent, Sime Darby Plantations rose 0.23 percent, Telekom Malaysia plummeted 1.19 percent, Tenaga Nasional fell 0.61 percent. percent and MRDIY, Petronas Gas, Maxis, Dialog Group, Public Bank, Westports Holdings, AMMB Holdings, Press Metal, Nestle Malaysia and Hong Leong Bank remained unchanged.
Wall Street’s lead is tenuous as the major averages opened lower on Tuesday, rose around midday and then ended underwater.
The Dow Jones fell 17.73 points or 0.05 percent to close at 34,645.99, while the NASDAQ tumbled 144.28 points or 1.04 percent to close at 13,773.61 and the S&P 500 fell 25.56 points or fell 0.57 percent to end at 4,461.90.
The lower close on Wall Street came as traders looked ahead to the release of the Labor Department’s long-awaited report on consumer price inflation later today.
The inflation data could have a significant impact on the interest rate outlook ahead of the Federal Reserve’s monetary policy meeting next week; CME Group’s FedWatch Tool currently shows a 93.0 percent chance that the Fed will leave rates unchanged.
A sharp decline in shares of Oracle (ORCL) weighed on the tech-heavy NASDAQ, with the software giant plunging 13.5 percent after the company reported weaker-than-expected first-quarter revenue and gave disappointing revenue guidance for the current quarter.
Oil prices rose sharply to a 10-month high on Tuesday after OPEC’s monthly report showed the oil market could be a lot tighter than initially thought. West Texas Intermediate crude futures ended October higher by $1.55, or 1.8 percent, at $88.84 a barrel.
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