The Malaysian stock market has recorded declines for three consecutive sessions, dropping over 15 points, equating to a 0.9 percent decrease. The Kuala Lumpur Composite Index (KLCI) is currently positioned just above the 1,625-point level, with potential for stabilization anticipated on Tuesday.
Globally, the outlook for Asian markets is optimistic, with expectations that technology stocks will drive gains. European and U.S. markets predominantly closed on an upward trend, suggesting a positive influence on Asian exchanges.
Monday saw the KLCI continuing its modest decline, with sectors such as financials, industrials, telecommunications, and plantations facing downward pressure.
On that trading day, the index decreased by 3.99 points or 0.24 percent, concluding at 1,625.47, fluctuating within a range from 1,623.64 to 1,631.71.
In terms of market movers, 99 Speed Mart Retail increased by 0.41 percent, while Celcomdigi fell by 1.35 percent. CIMB Group reduced by 0.37 percent, yet Gamuda showed a significant rise of 3.40 percent. IHH Healthcare and Tenaga Nasional saw minor declines of 0.14 percent each. IOI Corporation registered a gain of 0.26 percent, Kuala Lumpur Kepong decreased by 0.46 percent, Maxis appreciated by 0.27 percent, and Maybank dropped by 0.39 percent. MISC edged down by 0.13 percent, MRDIY saw a sharp decline of 2.65 percent, and Nestle Malaysia fell by 1.77 percent. Petronas Chemicals reduced by 2.00 percent, Petronas Dagangan declined sharply by 3.13 percent, but Petronas Gas increased by 0.57 percent. Additionally, PPB Group gained 0.32 percent, Public Bank edged up 0.22 percent, QL Resources fell by 1.05 percent, RHB Bank decreased by 0.16 percent, and SD Guthrie reduced by 1.01 percent. Telekom Malaysia fell significantly by 1.49 percent, YTL Corporation dropped by 0.73 percent, and YTL Power reduced by 0.45 percent, while Axiata, Sime Darby, Sunway, and Press Metal showed stability with no change.
On Wall Street, the general sentiment was positive as major indices opened higher on Monday, maintaining an upward trajectory, though the Dow Jones Industrial Average did end slightly lower.
The Dow declined by 25.57 points, a 0.06 percent decrease, closing at 42,706.56. Meanwhile, the NASDAQ surged by 243.30 points or 1.24 percent, reaching 19,864.98, and the S&P 500 increased by 32.91 points or 0.55 percent to finish at 5,975.38.
The early momentum on Wall Street was underpinned by sustained strength in tech stocks, following Foxconn's announcement of record fourth-quarter revenue driven by robust AI server demand.
Furthermore, market enthusiasm was bolstered by reports indicating that President-elect Donald Trump might reconsider his tariff strategy.
Crude oil prices did not maintain their early gains on Monday, thus breaking a five-day winning streak. However, the downside was limited after Saudi Arabia, the leading oil exporter, raised prices for Asian buyers for the first time in three months. West Texas Intermediate Crude for February delivery decreased by $0.46, totaling a 0.5 percent drop to settle at $73.50 per barrel.
The material has been provided by InstaForex Company -
www.instaforex.com
