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Malaysia Stock Market Expected To End Losing Streak

The Malaysia stock market has finished lower in three straight sessions, although it has just 4 points in that span. The Kuala Lumpur Composite Index now rests just above the 1,595-point plateau although it's looking at a green light on Tuesday.

The global forecast for the Asian markets is positive on renewed hopes for stimulus and optimism over trade talks between the United States and China. The European and U.S. markets were up and the Asian markets are tipped to open in similar fashion.

The KLCI finished slightly lower on Monday as losses from the plantations and telecoms were offset by mixed performances from the financials and industrials.

For the day, the index eased 2.77 points or 0.17 percent to finish at 1,596.45 after trading between 1,594.84 and 1,602.03. Volume was 2.2 billion shares worth 1.6 billion ringgit. There were 429 gainers and 349 decliners.

Among the actives, Axiata plummeted 2.59 percent, while Petronas Chemicals soared 1.82 percent, Dialog Group plunged 1.42 percent, Top Glove spiked 1.12 percent, Kuala Lumpur Kepong and Digi.com both tumbled 1.00 percent, Sime Darby dropped 0.93 percent, CIMB Group sank 0.59 percent, RHB Capital collected 0.55 percent, Genting Malaysia shed 0.32 percent, IOI Corporation lost 0.24 percent, Sime Darby Plantations and Press Metal both added 0.21 percent, Public Bank fell 0.19 percent, Genting slid 0.17 percent, Maybank gained 0.12 percent, PPB Group rose 0.11 percent and IHH Healthcare, Tenaga Nasional and AMMB Holdings were unchanged.

The lead from Wall Street is solid as stocks moved significantly higher on Monday, continuing to offset the sell-off last Wednesday.

The Dow jumped 249.78 points or 0.96 percent to 26,135.79, while the NASDAQ climbed 106.82 points or 1.35 percent to 8,002.81 and the S&P 500 rose 34.97 points or 1.21 percent to 2,923.65.

The strength on Wall Street came amid a continued rebound in bond yields on optimism about new global stimulus. The People's Bank of China said it would use market-based reform methods to help lower real lending rates and prop up a slowing economy.

News that President Donald Trump's administration is once again delaying restrictions on Chinese tech giant Huawei also generated buying interest.

Crude oil futures settled sharply higher on Monday after a drone attack sparked fire in a remote Saudi oil and gas field, while renewed optimism about U.S.-China trade talks also fueled the surge. West Texas Intermediate crude oil futures for September ended up $1.33 or 2.4 percent at $56.14 a barrel.

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