The losing streak could continue for the Malaysian stock market

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(RTTNews) – The Malaysian stock market ended lower in three consecutive sessions, slipping nearly 20 points or 1.2% along the way. Kuala Lumpur’s composite index is now just below the 1,450-point plateau and it could take further damage on Thursday.

Global forecasts for Asian markets are negative, with technology, semiconductor and oil stocks expected to weigh. European and American markets were down and Asian exchanges are expected to open similarly.

KLCI ended slightly lower on Wednesday following losses in glove makers, while plantations, telecoms and financials were mixed.

For the day, the index lost 2.16 points or 0.15% to end at the daily high of 1,448.38 after falling to 1,440.59. The volume was 2.319 billion shares worth 1.712 billion ringgit. There were 493 rejections and 351 winners.

Among assets, Axiata fell 0.35%, while CIMB Group fell 1.11%, Dialog Group climbed 2.46%, Digi.com rose 1.05%, Genting rose 0.22%, Genting Malaysia fell 0.74%, Hartalega Holdings fell 2.50%, IHH Healthcare fell 0.17%. percent, INARI strengthened 1.95 percent, IOI Corporation fell 0.25 percent, Kuala Lumpur Kepong gained 0.28 percent, Maybank and Petronas Gas rose 0.12 percent, Maxis climbed 1.87 percent, MISC fell 0.70 percent, MRDIY rose 1.98 percent, Press Metal added 0.42 percent, Public Bank fell 1.60 percent, RHB Capital lost 0.36%, Sime Darby fell 1.35%, Sime Darby Plantations fell 1.57%, Telekom Malaysia lost 0.37%, Tenaga Nasional jumped 2.17%, Top Glove slipped 1.03% and Petronas Chemicals, PPB Group and Nestlé. were unchanged.

Wall Street’s lead is weak as major averages opened lower on Wednesday. The NASDAQ and S&P 500 remained in the red all day, while the Dow Jones bounced off the unchanged line but also finished lower.

The Dow Jones lost 39.09 points or 0.12% to end at 33,553.83, while the NASDAQ fell 174.75 points or 1.54% to close at 11,183.66 and the S&P 500 fell. fell 32.94 points or 0.83% to end at 3,958.79.

Wall Street’s weakness came as Treasuries rose sharply, extending the previous session’s upward move and hitting tech stocks in particular.

In economic news, the Commerce Department reported a significant increase in US retail sales in October. Additionally, the Federal Reserve noted an unexpected drop in US industrial production last month. Additionally, the National Association of Home Builders reported a continued decline in US homebuilder confidence in November.

Crude oil prices fell on Wednesday amid worries about demand prospects and the resumption of Russian oil shipments to Hungary. Oil prices fell despite data showing a bigger-than-expected decline in U.S. crude inventories. West Texas Intermediate crude oil futures for December ended down $1.33 or 1.5% at $85.59 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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