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Shutterstock photo(RTTNews.com) – The Malaysia stock market has moved higher in three straight sessions, gathering almost 20 points or 1 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,825-point plateau, although investors may cash in on Tuesday.
The global forecast for the Asian markets is flat with a touch of weakness, with profit taking likely and crude oil little changed. The European markets were slightly lower and the U.S. bourses were off on holiday – and the Asian markets also figure to tick lower.
The KLCI finished slightly higher on Monday following gains from the financial shares and the plantation stocks.
Among the actives, IJM Corporation plummeted 4.38 percent, while Genting Malaysia spiked 2.01 percent, YTL Corporation soared 1.35 percent, Petronas Chemicals jumped 1.24 percent, Astro Malaysia Holdings tumbled 1.12 percent, Digi.com climbed 1.06 percent, Telekom Malaysia shed 0.83 percent, IHH Healthcare gained 0.68 percent, Sime Darby added 0.74 percent, Tenaga Nasional picked up 0.25 percent, CIMB Group collected 0.15 percent and IOI Corporation, Axiata, Maybank and Public Bank all were unchanged.
While Wall Street was shuttered, the European markets were stuck in a sideways trend on Monday and ended slightly in the red. Shares of exporters remained under pressure as the Euro continues to strengthen against the dollar.
The Euro advanced to over a three-year high against the dollar as speculation has intensified that the European Central Bank is preparing to unwind its massive stimulus sooner than anticipated.
Hopes for a shift in the ECB stance heightened after the release of the minutes from its most recent meeting last week showed that it may revisit its communication stance in early 2018.
The DAX of Germany dropped 0.34 percent and the CAC 40 of France fell 0.13 percent. The FTSE 100 of the U.K. declined 0.12 percent and the SMI of Switzerland finished lower by 0.10 percent.
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