Malaysia shares expected to see end of winning streak due to profit-taking in global markets.

From Nasdaq: 2024-12-30 18:33:24

The Malaysia stock market has been on an upward trend, with the Kuala Lumpur Composite Index nearing 1,640 points. However, profit-taking is expected in Asian markets due to a soft global forecast. On Monday, the KLCI closed higher, driven by gains in financial, plantation, and telecom stocks. The Dow, NASDAQ, and S&P 500 all finished lower on Wall Street, with tech stocks leading the decline. Oil prices rose to a five-week high, supported by a drop in U.S. crude inventories and increased demand from China. Traders are cautious ahead of the New Year’s Day holiday.



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