The Malaysia stock market headed south again on Tuesday, one session after it had ended the two-day losing streak in which it had fallen more than 25 points or 1.6 percent. The Kuala Lumpur Composite Index now rests just above the 1,560-point plateau and it may extend its losses on Wednesday.
The global forecast for the Asian markets is negative on continuing concerns over the trade dispute between the United States and China. The European markets were mixed and the U.S. markets were down and the Asian bourses are also tipped to open in the red.
The STI finished modestly lower on Tuesday following losses from the financial shares and industrial issues.
For the day, the index lost 8.28 points or 0.53 percent to finish at 1,562.27 after trading between 1,556.17 and 1,568.85. Volume was 2.3 billion shares worth 1.7 billion ringgit. There were 539 decliners and 289 gainers.
Among the actives, AMMB Holdings plummeted 2.03 percent, while Press Metal plunged 1.70 percent, Top Glove tumbled 1.56 percent, Axiata skidded 1.18 percent, Kuala Lumpur Kepong retreated 1.01 percent, Genting Malaysia and IHH Healthcare both declined 0.93 percent, RHB Capital dropped 0.88 percent, Sime Darby sank 0.87 percent, Genting and Petronas Chemical both shed 0.85 percent, CIMB Group lost 0.77 percent, Public Bank fell 0.51 percent, Tenaga Nasional slid 0.46 percent, Malaysia Airports Holdings added 0.24 percent, Digi.com and PPB Group both were down 0.22 percent and Petronas Dagangan, Sime Darby Plantations, Maxis, Dialog Group, Maybank, IOI Corporation and MISC all were unchanged.
The lead from Wall Street is soft as stocks opened sharply lower on Tuesday, regained some ground but still finished firmly in the red.
The Dow shed 280.23 points or 1.01 percent to 27,502.81, while the NASDAQ lost 47.34 points or 0.55 percent to 8,520.64 and the S&P