Rebound Predicted For Malaysia Stock Market

(RTTNews) - The Malaysia stock market on Friday halted the three-day winning streak in which it had gathered almost 30 points or 1.9 percent. The Kuala Lumpur Composite Index now rests just shy of the 1,595-point plateau although it's expected to bounce higher again on Monday.

The global forecast for the Asian markets is positive on better than expected employment data from the United States. The European and U.S. bourses were firmly higher Friday and the Asian markets are tipped to open in similar fashion.

The KLCI finished modestly lower on Friday as losses from the telecoms were tempered by support from the plantations and a mixed picture from the financial sector.

For the day, the index fell 4.64 points or 0.29 percent to finish at 1,593.34 after trading between 1,583.00 and 1,596.84. Volume was 2.8 billion shares worth 1.6 billion ringgit. There were 451 decliners and 353 gainers.

Among the actives, Hong Leong Bank surged 2.49 percent, Public Bank plummeted 2.46 percent, Hartalega Holdings soared 2.09 percent, IHH Healthcare plunged 1.40 percent, Malaysia Airports Holdings spiked 1.26 percent, Top Glove accelerated 1.15 percent, MISC tumbled 1.08 percent, Genting jumped 1.03 percent, Sime Darby climbed 0.88 percent, Press Metal skidded 0.84 percent, Genting Malaysia advanced 0.62 percent, RHB Capital added 0.52 percent, dropped 0.43 percent, Dialog Group lost 0.29 percent, AMMB Holdings fell 0.25 percent, IOI Corporation gained 0.23 percent, CIMB Group collected 0.19 percent, Kuala Lumpur Kepong rose 0.18 percent, Tenaga Nasional was up 0.14 percent and Sime Darby Plantations, Maybank and Axiata were unchanged.
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