Malaysia KLCI Pares Losses; Oil Price, Currency Key To Upside-TA Securities- Nikkei Asian Review

  By Chong Sin Hao
Nikkei Markets
  KUALA LUMPUR (Sep 18) — Malaysia’s benchmark KLCI pares losses, now down 0.1% at 1783.89 points, in contrast with most Asian shares that are trading higher tracking Friday’s gains on Wall Street. CIMB Group Holdings weighs on index with 0.9% loss at MYR6.69. In broader market, gainers outnumber laggards 258-to-243; about 453 million shares changed hands so far in deals worth MYR173 million. “The index is likely to be lacklustre ahead of the FOMC meeting this week, but the future direction still favours an upside, as indicators such as recent economic data remain positive” says analyst at local brokerage. “Key upside catalysts, such as further recovery in the local currency or global oil prices, will be crucial to support a convincing breakout above the 1796 peak,” says TA Securities in investor note.
  – By Chong Sin Hao;; +60320267363
– Edited By Abhrajit Gangopadhyay
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– Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

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