Malaysia Stock Market May Stop The Bleeding On Friday

The Malaysia stock market has finished lower in back-to-back trading days, sliding more than 25 points or 1.6 percent along the way. The Kuala Lumpur Composite Index now rests just beneath the 1,565-point plateau although it may find support on Friday.

The global forecast for the Asian markets suggests a higher open on a technical rebound, with bargain hunting expected. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The KLCI finished modestly lower on Thursday following losses from the financial shares, plantation stocks and industrial issues.

For the day, the index sank 10.78 points or 0.68 percent to finish at 1,564.12 after trading between 1,563.13 and 1,572.04. Volume was 2.2 billion shares worth 1.5 billion ringgit. There were 495 decliners and 303 gainers.

Among the actives, Public Bank plummeted 2.13 percent, while Press Metal plunged 1.88 percent, Genting Malaysia tumbled 1.32 percent, Maxis skidded 1.10 percent, RHB Capital and both retreated 1.06 percent, Sime Darby Plantations declined 1.05 percent, AMMB Holdings and PPB Group both dropped 0.99 percent, Genting sank 0.87 percent, Kuala Lumpur Kepong shed 0.61 percent, Dialog Group and Maybank both lost 0.59 percent, IHH Healthcare gained 0.53 percent, MISC and Petronas Dagangan both fell 0.51 percent, Axiata slid 0.47 percent, Sime Darby rose 0.44 percent, IOI Corporation dipped 0.23 percent, CIMB Group was down 0.20 percent, Tenaga Nasional eased 0.15 percent and Petronas Chemicals was up 0.13 percent.

The lead from Wall Street is positive as stocks shook off early volatility on Thursday to move mostly higher – offsetting the steep losses from the previous two sessions.

The Dow added 122.42 points or 0.47 percent to 26,201.04, while the NASDAQ rose 87.02 points or 1.12 percent to 7,872.27 and the S&P 500 gained

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