The Malaysian stock market has finished lower now in back-to-back sessions, declining more than a dozen points or 0.8 percent along the way. The Kuala Lumpur Composite Index finished just above the 1,520-point plateau, and now traders are anticipating mild traction at the opening of trade on Monday.
The global forecast for the Asian markets is mixed, with positive economic data offsetting disappointing quarterly earnings results. Properties and oil stocks may provide a touch of support, although financials are likely to remain soft. The European markets were mixed on Friday and the U.S. bourses were slightly higher - and now the Asian markets are expected to split the difference.
The KLCI finished slightly lower on Friday on selling pressure from the plantation stocks, industrial issues and financial shares.
Among the actives, Maybank, Petronas Chemical, Sime Darby and Digi.com all finished lower, while BAT was unchanged and CIMB holdings ended higher.
Among Sarawak stocks which would be in focus include CAHYA MATA SARAWAK BHD (CMSB), NAIM HOLDINGS BHD, TA ANN HOLDINGS BHD, ZECON BHD, ENCORP BHD and HOCK SENG LEE BHD (HSL).
The lead from Wall Street is mildly positive as stocks moved mostly higher over the course of the trading day on Friday after showing a lack of direction earlier in the session. The markets benefited from largely upbeat economic news, which overshadowed some disappointing quarterly results.
Wall Street Iinvestors will also be keeping a close watch on key corporate earnings to be announced this week, which include Goldman Sachs, Morgan Stanley, Citigroup, Wells Fargo, General Electric and others.
HAPPY TRADING & GOODLUCK2ALL
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