The Malaysia stock market has seen consecutive gains, with the Kuala Lumpur Composite Index (KLCI) surging over 55 points, or 3.5%, in recent sessions. Currently positioned just above the 1,590 mark, the index may face pressure at the opening on Thursday. The global outlook for Asian markets is mixed to lower, primarily due to ongoing concerns about the U.S. economy’s health. While European markets closed higher, U.S. markets declined, which may influence the performance of Asian indices.On Wednesday, the KLCI saw a significant rise, driven by gains in the financial and energy sectors, despite some softness in plantation stocks. The index increased by 17.48 points, or 1.11%, closing at 1,591.87, after fluctuating between 1,563.77 and 1,596.60 throughout the day.Key movers included:- **Axiata:** Up 1.33%- **Celcomdigi:** Up 1.96%- **CIMB Group:** Up 1.81%- **Genting:** Up 1.16%- **Genting Malaysia:** Up 1.22%- **Hong Leong Financial:** Down 1.71%- **IHH Healthcare:** Up 0.16%- **Kuala Lumpur Kepong:** Down 2.89%- **Maxis:** Up 0.89%- **Maybank:** Up 0.40%- **MISC:** Down 0.93%- **MRDIY:** Up 3.52%- **Petronas Chemicals:** Down 3.04%- **Petronas Dagangan:** Down 2.11%- **Petronas Gas:** Down 0.22%- **PPB Group:** Up 1.26%- **Press Metal:** Up 0.62%- **Public Bank:** Up 0.95%- **QL Resources:** Up 0.46%- **RHB Capital:** Up 1.42%- **Sime Darby:** Up 2.02%- **Sime Darby Guthrie:** Down 0.67%- **Sunway:** Up 3.46%- **Telekom Malaysia:** Up 2.96%- **Tenaga Nasional:** Up 2.20%- **YTL Corporation:** Up 5.94%- **YTL Power:** Up 8.71%- **IOI Corporation:** UnchangedThe Wall Street’s lead was negative, as major averages, despite opening strongly, ended Wednesday with considerable losses. The Dow Jones Industrial Average declined 234.21 points, or 0.60%, to 38,763.45. The NASDAQ dropped 171.05 points, or 1.05%, to 16,195.81, and the S&P 500 fell 40.53 points, or 0.77%, closing at 5,199.50.The initial boost in stock prices came from bargain hunting, but enthusiasm waned as concerns about the U.S. economic outlook lingered.Oil prices spiked sharply on Wednesday, with West Texas Intermediate Crude oil futures for September rising by $2.03, or 2.75%, to $75.23 a barrel, driven by a larger-than-expected drop in U.S. crude inventories last week.The material has been provided by InstaForex Company – www.instaforex.com
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