Malaysia Stock Market May Extend Friday's Losses

(RTTNews) - The Malaysia stock market headed south again on Friday, one session after snapping the three-day slide in which it had retreated more than 25 points or 1.7 percent. The Kuala Lumpur Composite Index now rests just above the 1,575-point plateau and it may take further damage on Monday.

The global forecast for the Asian markets is mixed to lower on concerns over bond yields and sliding crude oil prices. The European and U.S. markets were mixed with a soft bias and the Asian markets are tipped to follow that lead.

The KLCI finished slightly lower on Friday following losses from the glove makers and plantations, while the financials and telecoms were mixed.

For the day, the index dipped 3.79 points or 0.24 percent to finish at 1,577.75 after trading between 1,563.56 and 1,586.23. Volume was 9.817 billion shares worth 7.005 billion ringgit. There were 931 decliners and 317 gainers.

Among the actives, Axiata sank 0.56 percent, while Dialog Group advanced 0.62 percent, and Telekom Malaysia both tanked 1.44 percent, Genting shed 0.43 percent, Genting Malaysia lost 0.34 percent, Hartalega Holdings skidded 1.38 percent, IHH Healthcare and Tenaga Nasional both slid 0.20 percent, IOI Corporation dropped 0.47 percent, Kuala Lumpur Kepong jumped 0.95 percent, Maybank declined 0.74 percent, Maxis rallied 1.28 percent, MISC rose 0.15 percent, Petronas Chemicals plummeted 4.50 percent, PPB Group spiked 1.95 percent, Press Metal perked 0.31 percent, Public Bank fell 0.24 percent, RHB Capital collected 0.56 percent, Sime Darby surged 3.18 percent, Sime Darby Plantations tumbled 1.41 percent, Supermax plunged 3.01 percent, Top Glove retreated 1.13 percent and CIMB Group was unchanged.
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