The Malaysian stock market has finished higher now in two straight sessions, adding more than 8 points or 0.5 percent in the process. The Kuala Lumpur Composite Index finished just above the 1,520-point plateau, although now analysts are forecasting a modest retreat at the opening of trade on Thursday.
The global forecast for the Asian markets calls for mild consolidation due to profit taking and a lack of clear direction. Technology and airlines stocks in particular are expected to fall under pressure. The European and U.S. markets finished lower on Wednesday, and the Asian bourses are expected to follow that lead.
The KLCI finished modestly higher on Wednesday on gains from the financial shares, industrial issues and plantation stocks.
For the day, the index gained 6.03 points or 0.40 percent to finish at 1,523.69 after trading between 1,525.69 and 1,519.18. Volume was 1.501 billion shares worth 2.244 billion ringgit. There were 575 gainers and 211 decliners.
The market traded within a range of 6.51 points between an intra-day high of 1525.69 and a low of 1519.18 during the session. Actively traded stocks include SAAG, PCHEM, HWGB, KBUNAI, TANCO, HWGB-WB, RAMUNIA-WA, DIALOG, MOBIF and RAMUNIA.
The Finance Index increased 0.84% to 13750.33 points, the Properties Index up 0.71% to 1074.78 points and the Plantation Index rose 0.04% to 7745.06 points.
The lead from Wall Street is mildly negative as stocks saw a mixed close on Wednesday, with the still unresolved turmoil in the Middle East and North Africa leaving the markets looking for direction. The lack of first-tier economic data also contributed to the pause by the marketplace, with corporate news guiding the majority of stock moves.
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