Malaysia Stock Market May Halt Its Slide On Monday

(RTTNews) - The Malaysia stock market has finished lower in two straight sessions, falling more than a dozen points or 0.6 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,735-point plateau although it's looking at a steady start on Monday.

The global forecast for the Asian markets is cautiously optimistic on an improved outlook for interest rates, although erratic tensions in the Middle East may limit the upside. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The KLCI finished slightly lower on Friday following losses from the financial shares and mixed performances from the plantations, telecoms and industrials.

For the day, the index dipped 1.40 points or 0.08 percent to finish at 1,735.75 after trading between 1,729.34 and 1,739.14.

The lead from Wall Street is positive as the major averages shook off early volatility before settling solidly higher for the balance of the day.

The Dow added 151.83 points or 0.28 percent to finish at 54,036.93, while the NASDAQ jumped 342.26 points or 1.30 percent to end at 26,690.62 and the S&P 500 gained 47.68 points or 0.62 percent to close at 7,757.64.

For the week, the NASDAQ spiked 5.2 percent, the S&P 500 jumped 3.6 percent and the Dow rose 3 percent.

The strength on Wall Street came amid easing concerns about the outlook for interest rates after the Labor Department unexpectedly reported a modest decrease in U.S. employment in July.

While the report pointed to some weakness in the labor market, the data is also seen as decreasing the chances of the Federal Reserve raising interest rates next month.

Crude oil prices advanced on Friday amid lingering uncertainty in the Middle East following attacks by the Iran-aligned Houthis on a military camp in Yemen and in Saudi Arabia. West Texas Intermediate crude for September delivery was up $0.81 or 1.1 percent at $78.10 a barrel.