Malaysia stock market reversed losses, financial shares down, tech and healthcare sectors up

From Nasdaq.: 2024-08-08 19:30:51

The Malaysia stock market ended a two-day winning streak with the Kuala Lumpur Composite Index just above 1,590 points. Financial shares suffered losses, but tech and healthcare sectors showed gains. The global forecast for Asian markets is positive due to improved U.S. economy outlook, following a sharp rise on Wall Street. Oil futures rose on Middle East tensions and increased U.S. demand. The Dow surged over 680 points, NASDAQ rallied over 460 points, and S&P 500 jumped over 110 points. First-time U.S. unemployment claims decreased, easing concerns about the labor market. Under Armour and Eli Lilly shares rose on strong quarterly results. Warner Brothers Discovery shares fell after disappointing numbers. Oil futures for September ended higher at $76.19 a barrel on Thursday.



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