ZLBT Chats

Thursday, September 30, 2010

BURSA MALAYSIA >>> Morning Outlook 30 Sept 2010

Malaysian Stocks May Turn Lower Again
The Malaysian stock market has finished higher in two of three trading days since the end of the three-day losing streak in which it had declined nearly 25 points or 1.6 percent.

The Kuala Lumpur Composite Index ended just above the 1,460-point plateau, although now analysts are forecasting renewed, if mild, selling pressure at the opening of trade on Thursday.

The global forecast for the Asian markets is mixed with a slight downside bias as investors are expected to lock in gains following recent rallies. Properties and financials are likely to be hit hard, while oil, gold and natural gas stocks should provide support.

DJIA dropped 22.86 points (-0.21%) last nite spooked by European markets and the austerity drive riots. The S&P 500 fell 2.97 pts (-0.26%) while the Nasdaq trimmed 3.03 pts (-0.13%) in lacklustre trading.

The European markets finished mixed and the U.S. bourses were slightly lower, and the Asian markets are expected to follow those leads. The KLCI finished slightly higher on Wednesday as gains from the industrial issues and plantation stocks were pared by selling from the financial sector.


No comments:

Post a Comment