Prior to the Lunar New Year holiday, the Malaysian stock market endured two consecutive sessions of losses, although it only decreased by less than 0.1 percent during this period. The Kuala Lumpur Composite Index is currently just above the 1,510-point level and it might stabilize on Tuesday.
The global forecast for Asian markets anticipates little fluctuation, as many countries continue to observe the Lunar New Year holiday. The markets in Europe saw an increase, whereas the U.S. markets exhibited mixed and nearly unvaried results, and it is anticipated that the Asian markets will reflect a combination of these outcomes.
On Friday, the Kuala Lumpur Composite Index (KLCI) finished slightly lower due to variable results from the finance sector, telecoms, and plantations. For the day, the index fell by 0.01 percent, ending up at 1,512.28, with trading oscillating between 1,509.56 and 1,514.72.
Among the active players, Axiata increased by 0.36 percent, whereas Celcomdigi accumulated 0.24 percent, CIMB Group dropped 0.64 percent, with Genting and Genting Malaysia rallying 1.87 and 1.07 percent respectively. Other players included IOI Corporation, Kuala Lumpur Kepong, MISC, MRDIY, Press Metal, Public Bank, Sime Darby, Sime Darby Plantations, Telekom Malaysia, YTL Corporation, YTL Power, and QL Resources among others.
Wall Street's guidance is unclear as the leading averages opened flat, quickly rose, but then declined, with only the Dow maintaining its upturn and reaching an all-time closing high. The Dow increased 0.33 percent to conclude at 38,797.38, whereas the NASDAQ fell 0.30 percent to end at 15,942.54 and the S&P 500 reduced by 0.09 percent to wrap up at 5,021.84.
The inconsistent trading on Wall Street is a result of traders taking a breather in light of recent market strength, with the S&P 500 surpassing the 5,000 mark for the first time and the NASDAQ making considerable progress. The lack of significant U.S. economic data also led some traders to take a cautious stance in anticipation of several upcoming major reports.
Treasury bonds displayed minor variation before ending the day slightly higher. After making an early gain, the bond prices relapsed but recovered later in the afternoon.
Crude oil futures remained virtually unchanged on Monday as concerns related to demand outweighed potential supply disruptions. The recovery of the dollar also had an impact on the prices. The West Texas Intermediate Crude oil futures for March settled at $76.92 a barrel, a $0.08 increase from the earlier close.
