Malaysia stock market rebounded after a two-day slide, but global forecast suggests consolidation

From NASDAQ: 2024-12-18 18:33:51

The Malaysia stock market rebounded after a two-day slide, with the KLCI closing slightly higher at 1,599.58. CIMB Group dipped 0.25% while Genting, Maxis, and QL Resources advanced. The global forecast for Asian markets suggests consolidation due to interest rate concerns. Wall Street saw a sharp decline after the Fed’s interest rate statement, with the Dow dropping 2.58%, the NASDAQ falling 3.56%, and the S&P 500 sinking 2.95%. The Fed announced a quarter-point rate cut but forecast fewer rate cuts next year. Crude oil prices rose on Wednesday, with WTI closing at $70.58 a barrel.



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