CHWA

CHW Acquisition Corporation

8.2800
USD
5.40%
8.2800
USD
5.40%
5.9200 13.1300
52 weeks
52 weeks

Mkt Cap 128.64M

Shares Out 15.69M

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Malaysia Shares Expected To Remain Rangebound On Friday

(RTTNews) - The Malaysia stock market has climbed higher in two of three trading days since the end of the two-day slide in which it had fallen almost a dozen points or 0.8 percent. The Kuala Lumpur Composite Index new rests just above the 1,505-point plateau although it figures to turn lower again on Friday. The global forecast for the Asian markets is mixed to lower, with profit taking expected after solid gains a day earlier - especially among the technology shares. The European and U.S. markets were mixed and the Asian bourses are likely to follow suit. The KLCI finished modestly higher on Thursday following gains from the financials and telecoms, while the plantations were mixed and the glove makers were soft. For the day, the index picked up 13.23 points or 0.89 percent to finish at 1,505.56 after trading between 1,497.81 and 1,504.94. Volume was 2.549 billion shares worth 1.970 billion ringgit. There were 628 gainers and 260 decliners. Among the actives, Axiata rose 0.34 percent, while CIMB Group climbed 1.32 percent, Dialog Group spiked 3.62 percent, Digi.com added 0.83 percent, Genting rallied 1.72 percent, Genting Malaysia accelerated 2.04 percent, Hartalega Holdings plummeted 6.94 percent, IHH Healthcare improved 0.93 percent, INARI soared 3.90 percent, Kuala Lumpur Kepong dipped 0.18 percent, Maybank collected 0.45 percent, Maxis fell 0.26 percent, MISC strengthened 1.68 percent, MRDIY advanced 0.94 percent, Petronas Chemicals gained 0.69 percent, PPB Group increased 0.85 percent, Press Metal surged 4.04 percent, Public Bank and Sime Darby both perked 0.43 percent, RHB Capital rose 0.51 percent, Sime Darby Plantations gathered 0.66 percent, Tenaga Nasional jumped 1.78 percent, Top Glove sank 0.54 percent and IOI Corporation and Telekom Malaysia were unchanged. The lead from Wall Street is soft as the major averages opened higher on Thursday but were unable to hold the early gains and eventually finished mixed. The Dow rose 27.16 points or 0.08 percent to finish at 33,336.67, while the NASDAQ sank 74.89 points or 0.58 percent to end at 12,779.91 and the S&P 500 dipped 2.97 points or 0.07 percent to close at 4,207.27. The extended rally in early trading came after the Labor Department released a report showing an unexpected decrease in producer prices in July. Following Wednesday's tamer than expected consumer price data, the report initially added to optimism that the Federal Reserve will slow the pace of its interest rate hikes next month. However, subsequent comments from Fed officials seemed to downplay the data, with Chicago Fed President Charles Evans saying inflation remains "unacceptably high." Crude oil prices rose sharply Thursday on rising hopes for energy demand after the International Energy Agency lifted its demand outlook. The dollar's weakness following the soft inflation data also contributed to the rise in oil prices. West Texas Intermediate Crude futures ended higher by $2.41 or 2.6 percent at $94.34 a barrel. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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