Malaysia Shares May Tick Higher Again On Monday

(RTTNews) - The Malaysia stock market has tracked higher in three consecutive trading days, collecting more than 20 points or 1.3 percent along the way. The Kuala Lumpur Composite Index now sits just beneath the 1,720-point plateau and it's tipped to open in the green again on Monday.

The global forecast for the Asian markets is murky, with geopolitical concerns likely to limit any upside. The European and U.S. markets were mixed and little changed and the Asian markets figure to follow that lead.

The KLCI finished slightly higher on Friday following gains from the financial shares, plantation stocks and telecoms.

For the day, the index rose 2.85 points or 0.17 percent to finish at 1,719.99 after trading between 1,711.89 and 1,723.41. Among the actives, 99 Speed Mart Retail soared 2.09 percent, while AMMB Holdings fell 0.46 percent, Celcomdigi slumped 0.88 percent, Gamuda sank 0.66 percent, IHH Healthcare spiked 1.30 percent, IOI Corporation eased 0.25 percent, Kuala Lumpur Kepong slid 0.30 percent, Maxis gained 0.51 percent, Maybank rallied 1.25 percent, MISC advanced 0.64 percent, MRDIY added 0.56 percent, Nestle Malaysia stumbled 1.54 percent, Petronas Chemicals rose 0.30 percent, Petronas Dagangan dropped 0.85 percent, Petronas Gas shed 0.64 percent, PPB Group tanked 1.25 percent, Press Metal skidded 1.20 percent, QL Resources lost 0.49 percent, RHB Bank collected 0.25 percent, SD Guthrie jumped 0.88 percent, Sunway climbed 0.72 percent, Telekom Malaysia surged 2.31 percent, Tenaga Nasional slipped 0.43 percent, YTL Power was down 0.29 percent and Axiata, Sime Darby, YTL Corporation, Public Bank and CIMB Group were unchanged.

The lead from Wall Street offers little clarity as the major averages opened lower on Friday but quickly turned mixed and finished the session that way.

The Dow dropped 285.30 points or 0.58 percent to finish at 49,098.30, while the NASDAQ added 65.22 points or 0.28 percent to close at 23,501.24 and the S&P 500 perked 2.26 points or 0.03 percent to end at 6,915.61.

For the week, the Dow shed 0.5 percent, the S&P fell 0.4 percent and the NASDAQ eased 0.1 percent.

The mixed performance came as traders kept an eye on the latest geopolitical developments, with easing concerns about tensions over Greenland being replaced by renewed worries about a confrontation between the U.S. and Iran.

After President Donald Trump ruled out the use of force to acquire Greenland and backed off tariff threats against Europe, he has now apparently shifted his attention back to Iran and has an "armada" heading toward the Middle East.

Crude oil prices soared on Friday as fresh war threats in the Middle East raised supply disruption concerns. West Texas Intermediate crude for March delivery was up $1.75 or 2.95 percent at $61.11 per barrel.