Malaysia Stock Market Poised To Extend Thursday's Gains

(RTTNews) - The Malaysia stock market has moved higher in two of three trading days since the end of the five-day losing streak in which it had slumped more than 15 points or 1 percent. The Kuala Lumpur Composite Index now rests just above the 1,500-point plateau and it may add to its winnings on Friday.

The global forecast for the Asian markets is cautiously optimistic, supported by bargain hunting and crude oil prices. 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 on Thursday following gains from the financials, plantations and telecoms, while the glove makers were mixed.

For the day, the index rose 4.81 points or 0.32 percent to finish at the daily high of 1,501.74 after moving as low as 1,491.83. Volume was 3.738 billion shares worth 3.065 billion ringgit. There were 716 decliners and 272 gainers.

Among the actives, Axiata dropped 0.52 percent, while CIMB Group and PPB Group both soared 2.58 percent, Dialog Group declined 0.79 percent, surged 2.70 percent, Genting shed 0.45 percent, Genting Malaysia fell 0.36 percent, Hartalega Holdings tumbled 1.75 percent, IHH Healthcare rose 0.15 percent, IOI Corporation rallied 1.08 percent, Kuala Lumpur Kepong climbed 1.07 percent, MISC dipped 0.15 percent, MRDIY advanced 0.86 percent, Petronas Chemicals and Hong Leong Financial both eased 0.12 percent, Press Metal sank 0.56 percent, Sime Darby retreated 1.39 percent, Sime Darby Plantations jumped 1.61 percent, Telekom Malaysia lost 0.37 percent, Tenaga Nasional slid 0.22 percent, Top Glove spiked 2.55 percent and Public Bank, RHB Capital, Maybank, Maxis and Nestle were unchanged.
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