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Malaysia Bourse May Extend Tuesday's Gains

The Malaysia stock market on Tuesday snapped the two-day slide in which it had stumbled more than 20 points or 1.2 percent. The Kuala Lumpur Composite Index now rests just above the 1,670-point plateau and it may see mild upside again on Wednesday.

The global forecast for the Asian markets is cautiously optimistic on an upbeat outlook for interest rates and mild upside in crude oil prices. The European and U.S. markets were mixed and the Asian markets are tipped to inch higher.

The KLCI finished modestly higher on Tuesday following gains from the financial shares and industrial issues.

For the day, the index added 6.65 points or 0.40 percent to finish at 1,671.28 after trading between 1,666.84 and 1,672.94. Volume was 3 billion shares worth 2 billion ringgit. There were 523 gainers and 346 decliners.

Among the actives, Genting Malaysia plunged 1.75 percent, CIMB Group soared 1.70 percent, RHB Capital and AMMB Holdings both spiked 0.90 percent, Hartalega Holdings tumbled 0.84 percent, Public Bank collected 0.83 percent, Petronas Chemicals jumped 0.65 percent, Dialog Group climbed 0.63 percent, Axiata Group skidded 0.49 percent, Sime Darby advanced 0.47 percent, Genting added 0.43 percent, Top Glove gained 0.22 percent, Maybank rose 0.21 percent, IHH Healthcare sank 0.17 percent, Tenaga Nasional was up 0.16 percent and MISC and IOI Corporation were unchanged.

The lead from Wall Street is inconsistent as the major averages moved in opposite directions on Tuesday.

The Dow shed 96.22 points or 0.38 percent to finish at 25,554.66, while the NASDAQ rose 32.97 points or 0.44 percent to 7,591.03 and the S&P added 8.22 points or 0.30 percent to 2,791.52.

The loss posted by the Dow was largely due to a continued decline by Boeing (BA) after the European Union, China, the U.K. and other countries grounded the company's 737 MAX jets following the second crash in less than six months.

Meanwhile, the broader markets benefited from the release of tame inflation data, which suggests the Federal Reserve will continue to refrain from raising interest rates in the near future.

Crude oil futures ended slightly higher on Tuesday, with traders looking ahead to the weekly inventory data. West Texas Intermediate Crude oil futures for April added $0.08 or 0.1 percent at $56.87 a barrel.

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