FX.co ★ Steady Start Eyed For Malaysia Stock Market

The Malaysian stock market has experienced a decline for two consecutive sessions, losing nearly 15 points or 0.9 percent overall. The Kuala Lumpur Composite Index (KLCI) now sits just above the 1,660-point mark, though there may be some recovery in sight on Monday.

The global outlook for Asian markets is largely neutral due to a lack of strong drivers. European markets saw gains, while U.S. markets displayed mixed results, which suggests that Asian markets might follow suit with little significant movement.

On Friday, the KLCI posted modest losses as financial and industrial sectors declined, while the performance of the plantation and telecom sectors was mixed. The index dropped by 11.23 points or 0.67 percent, closing at 1,660.09, after fluctuating between 1,658.49 and 1,668.59 throughout the trading day.

Noteworthy movements included Axiata climbing 1.98 percent, while Celcomdigi decreased by 0.80 percent. CIMB Group fell 0.48 percent, Genting dipped 0.24 percent, and Genting Malaysia slid 0.42 percent. IHH Healthcare saw an increase of 0.70 percent, while IOI Corporation weakened by 0.79 percent. Kuala Lumpur Kepong dropped by 0.87 percent, Maxis fell 1.01 percent, and Maybank declined 1.50 percent. MR DIY tumbled 2.33 percent, Petronas Chemicals, and Sunway both shed 0.70 percent. In contrast, PPB Group rose 2.32 percent, and Press Metal surged 3.28 percent. Public Bank retreated 1.71 percent, QL Resources fell 0.65 percent, and RHB Bank decreased 1.29 percent. Sime Darby dipped 0.41 percent, SD Guthrie rallied 1.26 percent, Telekom Malaysia climbed 1.21 percent, Tenaga Nasional tumbled 1.74 percent, YTL Corporation plunged 3.11 percent, and YTL Power plummeted 4.70 percent. MISC and Nestle Malaysia remained unchanged.

Wall Street provided little direction, as the major indices opened slightly higher but ended the day mixed and largely unchanged. The Dow Jones Industrial Average rose 137.89 points or 0.33 percent to a record 42,313.00, while the NASDAQ fell 70.70 points or 0.39 percent to 18,119.59. The S&P 500 dipped 7.20 points or 0.13 percent to close at 5,738.17. For the week, the NASDAQ gained 1.0 percent, while the Dow and S&P 500 each increased by 0.6 percent.

The mixed performance on Wall Street followed the release of closely watched data on U.S. consumer price inflation for August. According to the Commerce Department, the personal consumption expenditures price index edged up by 0.1 percent in August, following a 0.2 percent rise in July, matching expectations.

Oil futures closed higher on Friday, fueled by additional stimulus measures from China's government that alleviated concerns about future demand. West Texas Intermediate crude oil futures for November increased by $0.51, settling at $68.18 per barrel.