Stock Market in Malaysia Potential for Further Success on Thursday

The Kuala Lumpur Composite Index (KLCI) finished slightly higher again on Wednesday, breaking the 1,575-point plateau for the day. The benchmark index perked 1.82 points or 0.12 percent, marking the fifth consecutive trading day of gains, adding 3 points or 0.2 percent to its value.

Among the active stocks, 99 Speed Mart Retail improved 1.60 percent, Axiata added 0.82 percent, Celcomdigi slumped 1.08 percent, CIMB Group eased 0.14 percent, IHH Healthcare climbed 1.62 percent, IOI Corporation gathered 0.52 percent, Kuala Lumpur Kepong strengthened 1.63 percent, Maxis accelerated 2.27 percent, Maybank shed 0.80 percent, MISC expanded 0.54 percent, MRDIY spiked 3.36 percent, Petronas Chemicals rallied 2.14 percent, Petronas Dagangan advanced 0.92 percent, PPB Group soared 3.98 percent, Press Metal perked 0.18 percent, Public Bank sank 0.93 percent, QL Resources dropped 0.95 percent, Sime Darby jumped 1.98 percent, SD Guthrie fell 0.20 percent, Sunway surged 4.36 percent, Telekom Malaysia increased 1.01 percent, Tenaga Nasional skidded 1.06 percent, YTL Corporation gained 0.80 percent, YTL Power rose 0.74 percent, Nestle Malaysia, RHB Bank, Gamuda, AMMB Holdings and Petronas Gas were unchanged.

Meanwhile, crude oil prices fell sharply on Wednesday due to concerns of oversupply, with West Texas Intermediate crude for October delivery down $1.65 or 2.52 percent at $63.94 per barrel. This comes as OPEC is expected to boost output at its upcoming meeting on Sunday.

Elsewhere, the global forecast for the Asian markets is upbeat, with technology shares expected to lead the way. The lead from Wall Street is mixed, with the Dow and S&P 500 finishing lower, but the NASDAQ rallying. The rebound by the NASDAQ followed a surge by shares of Alphabet (GOOGL), which rallied after a federal judge ruled the company will avoid the most severe consequences in a landmark antitrust case.

The European markets were up and the U.S. bourses were mostly higher, but no further information about the European or Asian markets is provided in this paragraph. The central bank in Malaysia will announce its decision on interest rates later today, but the current expectation or decision for the day is not specified in the available search results.

The Labor Department report shows job openings in the U.S. fell to their lowest level in 10 months in July, but this development did not seem to dampen the spirits of investors in the Asian markets. The Federal Reserve is expected to lower interest rates later this month, thanks to the report increasing confidence in this decision. However, no information about the global forecast for the Asian markets is provided in this paragraph.