(RTTNews) – The Malaysia stock market has moved higher in three straight sessions, advancing almost 30 points or 1.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,670-point plateau and it’s expected to open in the green again on Tuesday.
The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
The KLCI finished slightly higher again on Monday following gains from the financial shares, weakness from the plantations and a mixed performance from the industrials.
For the day, the index rose 5.39 points or 0.32 percent to finish at the daily high of 1,671.29 after trading as low as 1,663.12.
Among the actives, 99 Speed Mart Retail sank 0.79 percent, while AMMB Holdings climbed 0.63 percent, Axiata plummeted 3.41 percent, Celcomdigi improved 0.30 percent, Gamuda soared 1.84 percent, IHH Healthcare jumped 1.17 percent, IOI Corporation slumped 0.98 percent, Kuala Lumpur Kepong perked 0.10 percent, Maxis shed 0.77 percent, Maybank collected 0.38 percent, MISC rallied 1.32 percent, MRDIY lost 0.66 percent, Nestle Malaysia tumbled 1.20 percent, Petronas Chemicals vaulted 0.84 percent, Petronas Dagangan skidded 1.01 percent, Petronas Gas rose 0.11 percent, PPB Group gained 0.19 percent, Press Metal surged 2.46 percent, Public Bank increased 0.22 percent, QL Resources dipped 0.25 percent, RHB Bank added 0.26 percent, Sime Darby advanced 0.48 percent, SD Guthrie stumbled 1.25 percent, Sunway spiked 1.43 percent, Telekom Malaysia fell 0.63 percent, Tenaga Nasional accelerated 1.35 percent, YTL Corporation dropped 0.94 percent, YTL Power slid 0.60 percent and CIMB Group was unchanged.
The lead from Wall Street is positive as the major averages opened higher on Monday and spent all day in the green.
The Dow climbed 227.79 points or 0.47 percent to finish at 48,362.68, while the NASDAQ jumped 121.21 points or 0.52 percent to close at 23,428.83 and the S&P 500 added 43.99 points or 0.64 percent to end at 6,878.49.
The strength on Wall Street came as on continued strength among technology stocks, with companies like Oracle (ORCL) and AI darling and market leader Nvidia (NVDA) leading the charge.
Overall trading activity was subdued, however, with a lack of major U.S. economic data keeping traders on the sidelines. Some traders may also be away as they look to get a head start on the Christmas Day holiday on Thursday.
Crude oil prices surged on Monday as the conflict between the U.S. and Venezuela continue to escalate, while Russia and Ukraine remain heavily engaged. West Texas Intermediate crude for February delivery was up $1.43 or 2.53 percent at $57.95 per barrel.
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