Malaysia Stock Market May Snap Losing Streak

The Malaysia stock market has finished lower in back-to-back trading days, giving up almost 8 points or 0.5 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,550-point plateau although it may stop the bleeding on Thursday.

The global forecast for the Asian markets is upbeat on renewed optimism for a trade deal between the United States and China. The European and U.S. markets were up and the Asian markets figure to open in similar fashion.

The KLCI finished modestly lower on Wednesday following losses from the financial shares and plantation stocks.

For the day, the index sank 7.56 points or 0.48 percent to finish at 1,551.23 after trading between 1,548.62 and 1,555.42. Volume was 1.9 billion shares worth 1.7 billion ringgit. There were 508 decliners and 295 gainers.

Among the actives, Top Glove plummeted 2.24 percent, while Malaysia Airports Holdings plunged 1.84 percent, MISC surged 1,79 percent, Sime Darby soared 1.78 percent, AMMB Holdings tumbled 1.52 percent, Sime Darby Plantations skidded 1.06 percent, CIMB Group dropped 1.02 percent, IOI Corporation retreated 0.94 percent, Public Bank declined 0.93 percent, PPB Group sank 0.89 percent, Press Metal shed 0.84 percent, Maybank lost 0.83 percent, Tenaga Nasional fell 0.73 percent, Genting Malaysia slid 0.65 percent, dipped 0.64 percent, Petronas Chemicals added 0.42 percent, Kuala Lumpur Kepong was down 0.19 percent and Hong Leong Financial, Maxis, RHB Capital, IHH Healthcare, Axiata and Hong Leong Bank all were unchanged.

The lead from Wall Street is positive as stocks moved mostly higher on Wednesday, with traders expressing renewed optimism about upcoming U.S.-China trade talks.

The Dow added 181.97 points or 0.70 percent to 26,346.01, while the NASDAQ jumped 79.96 points or 1.02 percent to 7,903.74 and the S&P 500 rose 26.34 points or 0.91 percent to 2,919.40.

The strength

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