[ad_1]
Shutterstock photo(RTTNews.com) – The Malaysia stock market ticked slightly higher again on Monday, erasing the losses from the previous session. The Kuala Lumpur Composite Index remains just above the 1,740-point plateau and it may add to its winnings on Tuesday.
The global forecast for the Asian markets is positive, thanks largely to a surge in crude oil prices. The European and U.S. markets were higher and the Asian markets figure to follow suit.
The KLCI finished slightly higher on Monday as the financials and telecoms were mostly in the green.
Among the actives, MISC surged 4.22 percent, while Petronas Gas plummeted 3.39 percent, YTL Corporation spiked 2.42 percent, Petronas Chemicals climbed 1.10 percent, Tenaga Nasional and IHH Healthcare both shed 0.54 percent, Telekom Malaysia lost 0.32 percent, Digi.com and RHB Capital both added 0.20 percent, Maxis gained 0.17 percent, Maybank collected 0.11 percent and Sime Darby and CIMB Group were unchanged.
The lead from Wall Street is upbeat as stocks moved higher on Monday in subdued activity as the major averages again hit new record closing highs.
The Dow added 9.23 points or 0.13 percent to 23,548.42, while the NASDAQ gained 22.00 points or 0.33 percent to 6,786.44 and the S&P was up 3.29 points or 0.13 percent to 2,591.13.
The strength on Wall Street reflected a spike in crude oil prices, which continued to surge after a purge of royal family’s political rivals in Saudi Arabia.
As a result, energy stocks showed a strong move to the upside as the price of crude oil for December delivery jumped $1.71 or 3.1 percent to $57.35/bbl, the highest in two years.
The market also benefitted from optimism about the economy and the likelihood of passage of the republican tax reform plan.
For comments and feedback: contact editorial@rttnews.com
[ad_2]
阅读更多