The Malaysia stock market has moved lower in consecutive trading days, sinking more than 15 points or 1 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,730-point plateau and it’s likely to open under water again on Friday.
The global forecast for the Asian markets is negative on disappointing data and continued weakness from technology stocks. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.
The KLCI finished modestly lower on Thursday following losses from the telecoms, gains from the industrials and mixed performances from the financials and plantations.
For the day, the index shed 11.80 points or 0.68 percent to finish at the daily low of 1,731.02 after peaking at 1,747.18.
Among the actives, 99 Speed Mart Retail sank 1.00 percent, while Axiata plunged 4.10 percent, Celcomdigi skidded 1.54 percent, CIMB Group collected 0.24 percent, Gamuda tanked 2.89 percent, Hong Leong Bank rose 0.16 percent, IHH Healthcare declined 2.12 percent, Kuala Lumpur Kepong improved 0.41 percent, Maxis added 0.26 percent, MISC fell 0.37 percent, MRDIY tumbled 2.21 percent, Nestle Malaysia advanced 0.63 percent, Petronas Chemicals rallied 2.19 percent, Petronas Dagangan jumped 1.70 percent, Petronas Gas retreated 2.16 percent, PPB Group slipped 0.36 percent, Press Metal and YTL Corporation both slumped 1.96 percent, Public Bank eased 0.20 percent, Sime Darby stumbled 2.30 percent, SD Guthrie lost 0.68 percent, Sunway contracted 1.20 percent, Telekom Malaysia dropped 1.01 percent, Tenaga Nasional shed 0.85 percent, YTL Power plummeted 4.38 percent and QL Resources, RHB Bank, IOI Corporation, AMMB Holdings and Maybank were unchanged.
The lead from Wall Street is weak as the major averages opened lower on Thursday and spent the entire session in the red, ending near daily lows.
The Dow tumbled 592.58 points or 1.20 percent to finish at 48,908.72, while the NASDAQ sank 363.99 points or 1.59 percent to end at 22,540.59 and the S&P 500 shed 84.32 points or 1.23 percent to close at 6,798.40.
Weakness among tech stocks continued to weigh on Wall Street amid losses from Google parent Alphabet (GOOGL) and Qualcomm (QCOM), which provided disappointing guidance.
Tech stocks have moved sharply lower over the past few sessions amid concerns about valuations and the impact of artificial intelligence.
In U.S. economic news, the Labor Department said first-time claims for U.S. unemployment benefits rose much more than expected last week. The Labor Department also said job openings in the U.S. unexpectedly fell to their lowest level in over five years in December.
Crude oil prices plunged on Thursday after weak U.S. jobs data increased demand concerns. West Texas Intermediate crude for March delivery was down $1.87 or 2.87 percent at $63.27 per barrel.
Market Analysis
Malaysia Stock Market May See Continued Consolidation
2026-02-05 23:31:12
