Highlights;
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The Kuala Lumpur Composite Index (KLCI) ended marginally lower, finishing at 1,587.07, weighed down by weakness in industrials and mixed performance in financial and telecom sectors, despite support from plantations.
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The Asian markets are expected to show little movement ahead of key U.S. inflation data, with the KLCI potentially rebounding on Friday.
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The U.S. markets closed higher, with the Dow, NASDAQ, and S&P 500 rising, driven by positive earnings from Nvidia, while investors await the release of U.S. personal income, spending, and inflation data.
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Oil prices increased slightly after a drop in U.S. crude inventories, with West Texas Intermediate crude rising to $64.57 per barrel.
The Malaysian stock market experienced a slight decline in two of the last three trading sessions, following a three-day rally that added nearly 15 points or 0.9%. The Kuala Lumpur Composite Index (KLCI) currently stands just above the 1,585-point mark and may see an uptick in the next session.
Global markets are expected to show little movement ahead of key U.S. inflation data. While European markets were mixed and flat, U.S. markets saw minor gains, suggesting Asian markets may see a balanced performance.
The KLCI dipped slightly due to weakness in industrials, mixed results in financials and telecoms, and support from plantations. It closed at 1,587.07, down 0.84 points, after reaching a peak of 1,596.16.
Among key stocks, notable performers included 99 Speed Mart Retail and SD Guthrie with gains, while Axiata saw a decline. Other significant movements included gains by Maybank and PPB Group, while Petronas Dagangan and YTL Corporation experienced drops.
Wall Street showed mild gains, with markets rising steadily after mixed openings. The Dow, NASDAQ, and S&P 500 all ended on a positive note. Investors were buoyed by Nvidia’s strong earnings, though data center sales were below expectations.
Market anticipation is high for the Commerce Department’s report on personal income and spending, including inflation data. The U.S. economy showed stronger-than-expected growth in Q2, with a decrease in unemployment claims.
Crude oil prices rose following a drop in U.S. inventories, with West Texas Intermediate crude up at $64.57 per barrel.
Source: https://www.nasdaq.com/articles/malaysia-shares-tipped-remain-rangebound-friday
